The FAQs explain revised Baggage Rules, 2026, enhancing duty-free limits, simplifying transfer of residence, and clarifying passenger categories to reduce disputes and speed up airport clearance.
Furnishing incorrect crypto-asset information without rectification can attract a fixed penalty. The amendment strengthens accountability and data accuracy.
Multiple notifications and circulars issued during the week implemented Budget 2026 measures across direct and indirect taxes. The updates impact compliance, exemptions, refunds, automation, and enforcement.
The court held that amounts credited due to a clerical RTGS error cannot be retained or recovered as tax dues when they do not belong to the account holder. Recovery provisions were ruled inapplicable, and the bank was directed to refund the money to the remitter.
The U.S. announced a reduction of tariffs on Indian goods to 18%, indicating a strategic reset in bilateral trade. The move could boost Indian exports, subject to formal customs notifications
Explains how Budget 2026–27 restructures tax provisions to reduce compliance burden and improve taxpayer experience. Highlights key exemptions, procedural simplifications, and enforcement rationalisation.
The Budget proposes replacing the Income Tax Act, 1961 with the new Income Tax Act, 2025 from April 2026. The key takeaway is a simplified, modern tax law designed for easier compliance.
The Supreme Court ruled that menstrual hygiene falls within Article 21 and mandated nationwide MHM facilities in all schools. States and UTs must ensure toilets, free sanitary napkins, and safe disposal within three months.
The Court refused to interfere with ex-parte GST orders where the taxpayer failed to reply or attend hearings. Blaming a professional advisor was held insufficient to bypass statutory procedure.
The Budget shifts multiple exemptions into the Customs Tariff, simplifying compliance without raising effective duties. The changes aim to correct duty inversion and strengthen domestic value addition.
