Government Introduces 5% GST on Horse Sales at Pushkar Fair Issue: The state Goods and Services Tax (GST) department introduced a tax levy on the sale of horses at the renowned Pushkar Fair, marking a new step in formalizing and taxing the high-value animal trading sector. Facts: The state GST department introduced a 5%… Read More »
Zydus Lifesciences Faces ₹74 Crore Demand Over IGST Refund Calculation Issue: The Common Adjudication Authority raised a large tax demand against Zydus Lifesciences Ltd. for the alleged excess claim of Integrated Goods and Services Tax (IGST) refund on the export of goods, based on a dispute over the correct valuation method. Facts: Zydus Lifesciences… Read More »
CBI Lodges Assets Case Against CGST Assistant Commissioner Issue: The Central Bureau of Investigation (CBI) registered a criminal case against a high-ranking Central Goods and Services Tax (CGST) official on charges of possessing disproportionate assets (DA) that could not be justified by their known sources of income. Facts: The accused is an Assistant Commissioner… Read More »
Insurers: GST Waiver Alone Not Enough to Deepen Penetration Issue: To assess the long-term impact of the Goods and Services Tax (GST) exemption on individual life and health insurance premiums, with insurance industry leaders concluding that while the waiver aids affordability, it is insufficient on its own to achieve the national goal of deep… Read More »
Income Tax Tribunal Upholds 22% Tax on Capital Gains, Sparks Controversy Issue: Whether the Income Tax Appellate Tribunal (ITAT) correctly affirmed a special tax rate of 22% on certain capital gains realized by an assessee, leading to controversy and raising questions about the uniformity of capital gains taxation under the Income Tax Act. Facts:… Read More »
Income Tax Tribunal Upholds 22% Tax on Capital Gains, Sparks Controversy Issue: Whether the Income Tax Appellate Tribunal (ITAT) correctly affirmed a special tax rate of 22% on certain capital gains realized by an assessee, leading to controversy and raising questions about the uniformity of capital gains taxation under the Income Tax Act. Facts:… Read More »
Industry Body Pushes for Faster Tax Dispute Resolution; Calls for Clearing High-Value Appeals Within a Year Issue: To address the severe backlog in tax litigation (estimated at nearly ₹18 lakh crore in disputed demand), the Confederation of Indian Industry (CII) submitted pre-Budget recommendations urging the government to fundamentally transform the tax system from “dispute-driven” to… Read More »
Money Laundering Case: Mumbai Court Denies Bail to IPS Officer’s Husband in ₹263 Crore Tax Refund Scam Issue: Whether Purushottam Chavan, the husband of an IPS officer and an accused in a high-profile money laundering case linked to a massive income tax refund scam, should be granted bail on grounds of serious medical condition… Read More »
J&K Assembly Ratifies Recent Amendments to GST Act Issue: To formally incorporate the decisions and structural changes approved by the Goods and Services Tax (GST) Council into the state’s local legislation, the Jammu and Kashmir Goods and Services Tax Act, 2017, required ratification by the state assembly. Facts: The GST Council recently passed a… Read More »
Income Tax Tribunal Upholds 22% Tax on Capital Gains, Sparks Controversy Issue: Whether the Income Tax Appellate Tribunal (ITAT) correctly affirmed a special tax rate of 22% on certain capital gains realized by an assessee, leading to controversy and raising questions about the uniformity of capital gains taxation under the Income Tax Act. Facts:… Read More »