Latest Articles
OTP Failure on Tax Portal Delays Professional Tax Payments in Karnataka; Due Date Extension requested
Goods and Services Tax : The issue involves technical failures in the Professional Tax portal preventing payments. A request has been made to fix glitches ...
GST Billing Framework for Hotel / Resort with Restaurant declared as Specified Premises
Goods and Services Tax : The issue was classification of bundled hotel services under GST. It is clarified that naturally bundled services are taxed as com...
Companies (Incorporation) Amendment Rules, 2026: Major Changes
Company Law : The draft rules introduce simplified forms, reduced documentation, and digital processes to ease company incorporation. Key change...
Practical FAQs on Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)
Company Law : The scheme allows companies to file pending annual returns with just 10% additional fees. It offers a cost-effective opportunity t...
GST Multi-Year SCN Validity Under Sections 73 & 74: Legal Split
Goods and Services Tax : Courts differ on validity of multi-year GST SCNs under Sections 73 and 74. Issue referred to larger bench; legal position remains ...
Latest News
Representation on Cancellation of GST Registration & Refund Processing
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Mastermind Arrested for ₹1,825 Crore GST Refund Fraud via Fake ITC & Bogus Exports
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
India–Korea MoU Signed to Boost Financial Regulatory Cooperation
Finance : The issue highlights a new agreement between financial regulators of both countries. The key takeaway is that the MoU promotes col...
IFSCA Registers First Foreign Family Investment Fund
Finance : IFSCA approved the first foreign family office fund under its 2025 regulations. The move strengthens GIFT IFSC’s position as a g...
Latest Judiciary
Biodegradable Claim Outside AAR Scope; GST Rate Depends on Classification
Goods and Services Tax : The ruling held that concessional GST rate applies only if bags qualify as biodegradable under the notification. It clarified that...
Online Coaching Not OIDAR as Human Intervention Dominates Service: AAR Rajasthan
Goods and Services Tax : The issue was whether online coaching qualifies as OIDAR services. The ruling held it does not, as significant human involvement m...
Bombay HC Quashed Reassessment Notice to Linkedin as Approval Granted by Incorrect Authority
Income Tax : The case examined whether reassessment approval beyond three years was issued by the competent authority. The court held that appr...
Interest on Non-Surplus Funds Not Taxable as Income from Other Sources: Delhi HC
Income Tax : The case examined whether interest earned on temporarily parked funds is taxable. The court held that funds earmarked for asset ac...
Income Tax Reassessment Quashed Due to Approval from wrong Authority: ITAT Pune
Income Tax : The Tribunal held that reassessment proceedings were invalid as approval was taken from the wrong authority beyond three years. It...
Latest Notifications
DIR-3 KYC Delay Now Costs ₹5,000 and amendement costs ₹500
Company Law : The issue concerns compliance delays in director KYC filings. The amendment imposes a ₹5,000 penalty for late submission, reinfo...
Failure to Verify Wilful Defaulter Status Leads to 2-Year Suspension of IP
Corporate Law : The issue was whether an insolvency professional fulfilled due diligence obligations under Section 29A. The Committee held that fa...
Ship Leasing Rules Amended Due to Ban on Asset Management Services in IFSCs
Finance : The issue was regulatory overlap after asset management services were restricted. The Authority removed a conflicting provision, e...
Framework for rights issue under IFSCA (Listing) Regulations, 2024
Finance : The issue was the lack of a unified process for rights issues in IFSCs. The Authority introduced a detailed framework mandating di...
IFSC Circular Mandates Disclosure and Approval Norms for Preferential Allotments
Finance : The circular addresses how listed entities can raise capital through preferential issues and QIPs. It establishes eligibility cond...
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FAQs
Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, timeline, and conditions.
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
