The Telangana High Court permitted the taxpayer to submit a manual application for revocation of cancelled GST registration after the GST portal did not allow online filing due to limitation issues.
The Telangana High Court quashed GST refund rejection orders after finding that the authority failed to consider detailed replies filed by the taxpayer. The Court directed fresh adjudication after granting a rehearing opportunity.
CBIC amended Notification No. 12/97-Customs (N.T.) to include Village Namli, Ratlam as an authorized customs location. The notification permits unloading of imported goods and loading of export goods, expanding customs infrastructure in Madhya Pradesh.
Tribunal ruled that WhatsApp messages and digital records without corroborative evidence or proper certification could not sustain additions under the Income Tax Act.
The article explains that normal manufacturing loss caused by shrinkage, evaporation, or processing does not automatically require ITC reversal under Section 17(5)(h) of the CGST Act. Courts have treated such losses as inherent to manufacturing activities.
SEBI has proposed allowing depositories to use up to 5% of interest or income earned from Investor Protection Fund investments for administrative and statutory expenses. The proposal aims to align depository rules with the framework already applicable to stock exchanges.
SEBI has proposed the GARUDA mechanism to reduce AIF scheme launch timelines from 30 days to 10 working days. The proposal aims to improve ease of doing business and accelerate capital deployment while maintaining post-facto regulatory scrutiny.
DGFT amended Appendix 2B of FTP 2023 to include authorised agencies permitted to issue Preferential Certificates of Origin under the India-UK CETA. The notification specifies product-wise authorities and SEZ-based issuing agencies.
IFSCA approved draft Managing General Agents Regulations, 2026 to regulate registration and operations of MGAs in IFSCs. The framework introduces eligibility norms, capital requirements, audit obligations, and safeguards for policyholders.
The Patna ITAT upheld rejection of a trust’s Section 12AB registration after finding that the trust deed permitted application of income for persons residing outside India. The Tribunal held that Section 11 allows exemption only for charitable expenditure incurred in India.
