Notification u/s 10(46A) of the Income Tax Act, 1961 in the case of Karnataka Housing Board MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 4th November, 2025 S.O. 5006(E).— In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act,… Read More »
Telangana HC Seeks Reply on GST Levy Over Mining Royalty Issue: To determine the constitutional and legal validity of levying Goods and Services Tax (GST) on deductions made towards mining royalty, seigniorage, District Mineral Foundation (DMF), and State Mineral Exploration Trust (SMET) payments, particularly in light of a recent Supreme Court ruling. Facts: A… Read More »
India’s Exports to US Dip 37.5% After Tariff Imposition: GTRI Issue: To analyze the sharp decline in India’s exports to the United States (US) following the imposition of significant tariffs by the US on a wide range of Indian products. Facts: The US imposed a total of 50% tariff on a wide range of… Read More »
Delhi High Court Quashes Assessment Order Based on AI-Generated Precedents Title: Bombay HC Quashes Income Tax Assessment Over Use of AI-generated Case Laws (Puneet Batra vs. Union of India & Ors.) Issue: Whether an income tax assessment order is legally sustainable if the Assessing Officer (AO), performing a quasi-judicial function, relies on non-existent, fictitious,… Read More »
GST Net Revenue Inches Up 0.6% in October; Refunds Jump Nearly 40% Issue: To analyze the Goods and Services Tax (GST) revenue performance in October 2025, specifically tracking the impact of the recent GST rate rationalization (GST 2.0) on net collections and the quantum of refunds processed. Facts: The GST rate rationalization, which reduced… Read More »
GST Collection Declines in 20 Out of 36 States/UTs in October Issue: To analyze the detailed state-wise Goods and Services Tax (GST) collection data for October 2025, revealing a decline in revenue for a majority of states and Union Territories following the GST rate rationalization (GST 2.0). Facts: The GST rate cuts (GST 2.0)… Read More »
Punjab Records 21.51% Growth in Net GST Collections (April-October) Issue: To assess the revenue performance of Punjab’s Goods and Services Tax (GST) collections for the first seven months of the fiscal year (FY 2025-26), noting its growth trajectory despite challenges like widespread floods and national GST rate rationalization. Facts: The period covered is from… Read More »
SBI Report: FY26 GST Revenue to Exceed Budget Targets, States Will Remain Net Gainers Issue: To analyze the long-term revenue impact of the GST 2.0 rate rationalization on the Central and State exchequers, forecasting whether the increased consumption volume (buoyancy) will fully compensate for the sharp reduction in tax rates and ensure overall fiscal… Read More »
Andhra Pradesh Net GST Collections Up 8.77% in October Issue: To report on the revenue performance of Andhra Pradesh’s Goods and Services Tax (GST) collections in October 2025, particularly noting its growth rate despite the recent GST rate rationalization (GST 2.0) that reduced taxes on many goods. Facts: The GST rate reduction on several… Read More »
GST Transition Issues Persist for FMCG Players Through October Issue: To assess how long the short-term disruptions and compliance challenges related to the GST 2.0 rate rationalization persisted in the Fast-Moving Consumer Goods (FMCG) sector’s supply chain, particularly regarding inventory and pricing adjustments. Facts: GST 2.0 came into effect on September 22, 2025, slashing… Read More »