Union Budget 2026–27 proposes certain targeted amendments under GST. The changes are not rate-oriented but structural in nature and largely focus on resolving long-pending issues faced by taxpayers, particularly service exporters, refund applicants and businesses dealing with post-supply discounts.
The draft rules cut down the number of rules and forms significantly through consolidation. This signals a move toward simpler compliance and clearer tax administration.
The Authority declined to rule on ITC eligibility for foundation and structural works as the construction had already been completed. Advance rulings apply only to ongoing or proposed supplies, not past transactions.
The ruling concluded that condenser fans designed for bus and vehicle air-conditioning are parts of air-conditioning machines. GST classification under Heading 8414 was held inapplicable.
The Authority examined whether petrol and diesel billed separately in fleet operations attract GST. It ruled that fuel remains outside GST and continues to be taxed under excise and VAT.
Contributions to DMF, though linked to mining royalty, were held exempt from GST due to their public welfare character. The exemption applies only from the date of the appellate order.
Delhi High Court held that merely because investigator [Enforcement Directorate] doesn t want to arrest the accused, it cannot be said that the accused is entitled to anticipatory bail. Accordingly, anticipatory bail application in cyber fraud dismissed.
This article explains how Section 54EC allows exemption from long-term capital gains through investment in notified bonds. The key takeaway is that timely bond investment offers a safe alternative to property reinvestment.
Revenue argued that control and fixed hours created employment. The Tribunal ruled that such controls ensure discipline and contract enforcement, not employment. Result: TDS under Section 194J sustained.
The issue was how cryptocurrency income is classified for tax purposes. The framework holds that transfers fall under a dedicated VDA regime with a flat rate and strict loss rules.
