CBIC Circular details new regulations for provisional customs assessments, setting time limits and new procedures for the finalization of cases.
Discover the impact of the 56th GST Council meeting on India’s pharmaceutical sector, including reduced GST rates on medicines and medical devices. Learn about the new tax structure, benefits for consumers, and challenges for manufacturers.
The Karnataka High Court set aside an order against NL Tile Art Pvt. Ltd., citing that tax authorities failed to consider the company’s annual returns and ITC reversal forms.
NSE extends single filing system via API to Annual Secretarial Compliance Report under SEBI LODR, effective 15 Sept 2025.
ITAT Hyderabad held that levy of late filing fee u/s. 234E of the Income Tax Act for 1st, 2nd, and 3rd quarter TDS return in Form 26Q not justified since all the 3 quarter returns filed on or before due date of filing 4th quarter return and reasonable cause shown. Accordingly, appeal allowed.
CBIC issued a new circular to restructure trade committees and grievance mechanisms, aiming to enhance efficiency and stakeholder engagement in customs.
ITAT Mumbai rules in favor of Ramesh Dhuri, deleting Rs.4.84L addition under Section 56(2)(x)(b)(B) due to retrospective 10% tolerance limit.
The Income Tax Appellate Tribunal (ITAT) Mumbai has invalidated the reassessment against Sunidhi Securities & Finance Limited, citing an incorrect sanctioning authority for the Section 148 notice. The case centered on a reassessment initiated for alleged bogus trading losses, which the Tribunal deemed null and void based on the judicial precedent set by the Supreme Court.
The Chartered Accountants Association requests tax deadline extensions for TAR, ITR, and 12A renewals, citing severe floods in northern states and persistent technical issues with the Income Tax portal.
All Odisha Tax Advocates Association requests due date extensions for AY 2025-26 ITRs and Tax Audit Reports citing portal glitches, floods, festivals, and compliance load.
