The court held that possession of a tax invoice does not automatically create ITC entitlement. Credit can be distributed only after statutory conditions under Section 16 are satisfied
The circular permits unloading of returned export cargo and cancellation of Shipping Bills under special conditions. Export incentives will be blocked or recovered where applicable.
The proposed amendments rationalise tax provisions, simplify reporting rules, and introduce clearer deductions and exemptions. The reforms aim to improve voluntary compliance and reduce tax disputes.
The 2026 amendment replaces rigid interest rate ceilings with market-determined pricing. The reform expands borrowing flexibility and aligns India’s external borrowing framework with global financing practices.
Can GST authorities freeze directors’ personal assets for company dues? Legal analysis of Sections 79, 83 & 89 CGST Act with key court rulings.
The Central Government, in the Union Budget 2026, has proposed an important amendment concerning employee welfare funds. The objective of this change is to rationalize the provisions relating to the allowability of deduction under the Income-tax Act for employee contributions deducted from salaries towards welfare funds such as the Employees’ Provident Fund (EPF), Employees’ State Insurance (ESI), and similar statutory funds.
Courts have held that reassessment proceedings must be based on the reasons recorded before issuing notice under Section 148. If no addition is made on the issue forming the basis of reopening, the reassessment may become invalid.
Courts have increasingly held that Input Tax Credit cannot be denied to bona fide taxpayers merely because suppliers failed to pay GST. Authorities must prove fraud or collusion before disallowing ITC.
Over the past few years, the UAE has quietly become one of the most attractive places in the world to launch a crypto or blockchain company. That reputation didn’t appear by accident. It’s the result of deliberate government policy, regulatory frameworks, and a broader strategy to position the country as a hub for financial technology. […]
The Supreme Court criticized the growing practice of filing delayed appeals only after contempt proceedings begin. It held that such tactics undermine the authority of courts and directed that such litigants be dealt with strictly.
