Gross GST revenue reached ₹1.83 lakh crore in February 2026, driven by 17.2% growth in import revenues. Net collections also rose 7.9%, reflecting steady domestic and customs performance.
Practical client KYC checklist for GST professionals to reduce exposure under Section 122(3A) and document safeguards against fake registration and ITC fraud.
Tribunal held that rejection of the Project Completion Method was invalid as the Assessing Officer did not record satisfaction under section 145(3). Income was directed to be recomputed under the method consistently followed by the assessee.
Tribunal held that application software licences with limited duration and no ownership rights are revenue expenditure. It deleted the disallowance and ruled that remand by the Commissioner (Appeals) was unjustified.
FAQs on TCS under Income Tax Act, 2025 as amended by Finance Bill, 2026, covering rates, exemptions, PAN, returns, due dates, interest and penalties.
Draft Rule 146 prescribes fixed conversion formulas for slot and space charters, defines qualifying incidental shipping income, and imposes a 49% charter-in threshold—breach of which results in loss of tonnage tax scheme benefits.
Draft Rule 147 requires Board orders issued under section 239(3)(a) to be published through Gazette, official website, notice boards, and trade bodies to ensure transparency and public awareness.
Draft Rule 148 of the Income-tax Rules, 2026 lays down comprehensive procedures, authorisation formats, safeguards, and custody mechanisms for search and seizure under section 247 to ensure transparency and legal compliance.
Draft Rule 149 of the Income-tax Rules, 2026 introduces a structured approval system, prescribed forms, and timelines for requisitioning services and making valuation references under section 247, ensuring transparency and regulatory oversight.
Rule 150 of the Draft Income-tax Rules, 2026 lays down the methodology for determining the fair market value of property under section 247(9). It specifies that the value of immovable property, including land or building or both, shall be based on the value adopted, assessed, or assessable by the Central or State Government authority for […]
