In a significant push towards technology-driven regulation, the National Financial Reporting Authority (NFRA), in collaboration with IndiaAI, has launched the IndiaAI Financial Reporting Compliance Challenge. Announced on Tuesday, the challenge invites Indian companies and DPIIT-recognised startups to develop advanced AI-powered solutions capable of analysing complex financial documents and validating them…
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NFRA issues Audit Practice Toolkit to raise audit quality
The National Financial Reporting Authority (NFRA) on 3 November 2025 released an Audit Practice Toolkit aimed specifically at small and medium audit practitioners to strengthen audit planning and documentation. The toolkit focuses first on drafting an audit strategy memorandum that reflects the risk profile of the auditee and can be…
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GST Revenue Surges to ₹1.95 Lakh Crore in October 2025
Gross Goods and Services Tax (GST) collections for October 2025 rose to ₹1,95,936 crore, registering a year-on-year increase of 4.6% from ₹1,87,346 crore in October 2024. The uptick reflects resilient domestic consumption during the festive season, along with a notable rise in import-related GST receipts that point to buoyant trade…