The Court held that once statutory documents establish genuine purchases, ITC cannot be denied under fraud provisions. The burden shifts to the department to prove collusion or sham transactions.
Budget 2026 proposes deleting the special intermediary rule, shifting place of supply to the recipient’s location. This restores destination-based GST and allows qualifying cross-border services to be treated as zero-rated exports.
The Court held that ITC cannot be denied to genuine recipients solely because the supplier failed to pay tax. Section 16(2)(c) must be applied only in cases of fraud or collusion, safeguarding compliant buyers.
India’s labour ecosystem saw major transformation as technology unified compliance, employment, and welfare services. The reforms improved access, transparency, and social security coverage across organised and unorganised sectors.
The guide explains how applicants can track GST registration using the ARN through the portal, SMS, or login-based tools. It highlights what each status means and how to act promptly to secure approval.
The draft rules revamp perquisite valuation and allowances, raising car-related taxes while expanding relief for education, HRA, and small perks.
The analysis explains how buy-back taxation shifted from company-level tax to shareholder dividend tax and is proposed to return to capital gains.
ESOPs are taxed twice—first as perquisites at exercise and later as capital gains on sale—creating a cash-flow burden for employees. While startup employees can defer tax under special provisions, most workers must pay tax upfront without liquidity, keeping ESOPs financially stressful.
The draft Income-tax Rules, 2026 consolidate perquisite valuation into a single framework and significantly raise exemption limits. Employees gain clearer rules and higher tax-efficient benefits.
The Court held that ITC earlier denied as time-barred cannot stand after the retrospective relaxation under Section 16(5), reinforcing substantive credit rights.
