The week witnessed important rulings on benami transactions, GST natural justice violations, and misuse of insolvency proceedings. SEBI and RBI also introduced significant regulatory and compliance reforms.
You Already Filed One Refund Application… So You Cannot File Another?” Bombay High Court Says GST Law Does Not Work That Way Summary: The Bombay High Court in the case relating to GST refund claims held that Section 54 of the CGST Act does not prohibit filing a second refund application for the same quarter where […]
The Income Tax Department’s new TDS payment system under the Income Tax Act 2025 allows multiple TDS payments through a single challan. The change reduces repetitive filings, OTP verifications, and compliance hassles for taxpayers.
GST IMS allows taxpayers to accept, reject or keep invoices pending before ITC flows to GSTR-3B, ensuring better GST ITC reconciliation.
The Kerala High Court held that GST cannot be imposed on member welfare contributions merely through statutory amendments. The ruling reaffirmed that the doctrine of mutuality continues unless the Constitution itself is amended to permit such taxation.
The article explains how organized crime has evolved into a transnational threat linked with terrorism, drug trafficking, and financial crimes. It highlights the need for coordinated legal and enforcement mechanisms to safeguard national security.
The new Income Tax Act, 2025 significantly reduces the number of statutory sections and reorganises tax compliance procedures effective from FY 2026-27. The reforms introduce new forms, revised reporting systems, and simplified compliance mechanisms.
The New Income Tax Act, 2025 replaces multiple TDS and TCS provisions with consolidated Sections 392, 393 and 394 effective from FY 2026-27. The reform simplifies compliance, introduces code-based reporting, and rationalises deduction rates and thresholds.
The article explains how the Supreme Court evolved curative jurisdiction in exceptional cases to correct grave injustice even after dismissal of review petitions. It highlights the legal framework, safeguards, and landmark rulings shaping curative petitions in India.
The article argues that DGFT’s annual IEC updation forces exporters to repeatedly submit data already available with government databases. It claims the process imposes unnecessary costs and operational hardships without improving compliance.
