GSTN introduces an online facility allowing eligible active taxpayers to opt out of Rule 14A registration by filing Form GST REG-32, subject to return and Aadhaar authentication conditions.
Budget 2026 proposes easing valuation rules for post-sale discounts, but existing Section 15(3)(b) conditions continue to apply until notified.
Interest will now be calculated after adjusting Electronic Cash Ledger balance, and flexible ITC cross-utilisation for IGST is introduced from February 2026.
Major updates include GST refund clarification by Supreme Court, RBI FEMA amendments, DGFT export schemes, and important AAR rulings.
Indian tax authorities increasingly apply substance-over-form principles to offshore transactions, especially in source taxation and withholding obligations.
When a resident buys unlisted shares from a non-resident, TDS must be deducted on gross consideration under Section 195, subject to DTAA and surcharge rules.
The new Income-tax Act enhances exemption limits for HRA, education, and defence allowances while deleting certain area-based exemptions.
Misclassification, delayed deposits, or reporting errors in TDS can trigger interest, penalties, and disallowance of expenses under the Income-tax Act.
Understanding supply rules and ITC conditions under GST can eliminate tax cascading and optimise business cash flow while ensuring compliance.
The framework clarifies that Audit Commissionerates and DGGI are empowered to issue SCNs under Sections 73 and 74 of the CGST Act, but adjudication lies with designated jurisdictional authorities. In multi-Commissionerate cases, CBIC appoints a common adjudicator.
