GST is India’s destination-based, multi-stage tax implemented in 2017. It replaced multiple indirect taxes to eliminate the cascading effect and simplify compliance nationwide.
56th GST Council Meeting reduced rates on over 100 goods to correct Inverted Duty Structure (IDS), aiming to cut ITC refunds and propose 90% provisional refunds for faster cash flow.
ITAT Mumbai rules that the principal component of a finance lease is a capital recovery, not taxable income. Surrendered depreciation requires exclusion of principal to avoid double taxation.
Andhra Pradesh High Court held that 5th Proviso to Rule 27(1) of the Special Economic Zone Rules, 2006 imposing export duty on supplies from Domestic Tariff Area [DTA] to Special Economic Zone [SEZ] is ultra vires. Accordingly, the proviso is struck down and petition is allowed.
The CBDT has extended the deadline for filing various tax audit reports for AY 2025-26 from September 30 to October 31, 2025, following representations regarding difficulties like natural calamities.
Kerala High Court held that exemption from building tax u/s. 3(1)(b) of the Kerala Building Tax Act, 1975 granted as building is used for providing free accommodation to aged and disabled person rendering their services to the charitable/ religious institutions.
Kerala High Court quashes a Section 154 rectification order and demand against Kerala State Welfare Corp. for violating natural justice by ignoring the assessee’s timely filed objection.
Gujarat High Court held that addition under section 68 of the Income Tax Act towards bogus Long Term Capital Gains [LTCG] from sale of penny stock cannot be sustained since genuineness of the stock proved with evidence. Accordingly, appeal of revenue dismissed.
Kerala High Court restores penalty appeal after condoning 525-day delay, citing ITAT’s relief for the linked assessment appeal, ensuring merits-based hearing when the core tax demand is disputed.
In-depth analysis of Section 195 TDS on payments to non-residents, covering taxability, DTAA interaction, PAN rules (206AA), Form 15CA/15CB compliance, and risk mitigation strategies.
