The Bill introduces relief on post-supply discounts, export taxation, refunds and intermediary services. It also simplifies customs procedures and expands automation to reduce compliance friction.
Limited but impactful GST amendments streamline valuation, refunds, and dispute resolution. The key takeaway is reduced litigation and faster cash flow for exporters and manufacturers.
The Budget shifts intermediary services to a recipient-based place of supply and extends provisional refunds to IDS. The key takeaway is alignment with destination-based GST and improved liquidity.
Budget 2026 introduces focused GST fixes and sweeping Customs reforms. The key takeaway is simplification, export competitiveness, and faster trade flows.
The issue centred on whether chilling is merely cooling or a technical process. The Tribunal held that chilling involves scientific tests and preservation steps, constituting processing under the Act and justifying the deduction.
The assessee relied on deemed payment after transferring employee dues to another entity. The Tribunal ruled that section 43B recognises only real payment and set aside the relief granted by the appellate authority.
CBDT directs adjournments in court and ITAT cases as Finance Bill 2026 proposes clarificatory amendments to key Income Tax Act provisions on limitation, TPO orders, DIN, and reassessment notices.
The Assessing Officer treated all cash deposits as unexplained income under Section 115BBE. The Tribunal held that deposits prima facie represented IOC sales and required factual verification before any addition.
The government has proposed amending valuation rules to mandate a minimum paid-up capital for RVOs. The key takeaway is that recognition standards may soon include a financial threshold with a transition period.
The dispute concerned whether transfer through a release deed amounted to a taxable sale and justified loss claims. The Tribunal remanded the matter, directing verification of books to examine the genuineness of the claimed loss.
