Supreme Court Stays GST Demand on Real Estate Joint Development Pacts Title: SC Stays GST Demand on Real Estate Joint Development Pacts (Arham Infra Developers vs. CGST and Central Excise) Issue: Whether the transfer of land development rights under a Joint Development Agreement (JDA) between a developer and a landowner should be classified as a… Read More »
GST Overhaul Planned for Faster Refunds and Easier Compliance The government is preparing a comprehensive overhaul of Goods and Services Tax (GST) processes, led by the Central Board of Indirect Taxes and Customs (CBIC). The reforms aim to improve transparency, ease compliance, and ensure quicker fund releases for businesses, particularly MSMEs. Key Procedural Reforms Underway… Read More »
GST Cut Sparks Triple-Digit Rise in Online Vehicle Searches Issue: To analyze the immediate consumer sentiment and purchasing intent across India’s automotive market following the Goods and Services Tax (GST) rate reduction on vehicles. Facts: The GST rate on automobiles (two- and four-wheelers) was recently reduced. The demand survey was conducted by the local business… Read More »
DGFT Expands Eligibility for ‘Source from India’ E-Platform Issue: To enable a wider base of accomplished Indian exporters to showcase their products and credentials to international buyers, the Directorate General of Foreign Trade (DGFT) revised the eligibility criteria for the “Source from India” service on its Trade Connect ePlatform. Facts: The “Source from India” platform… Read More »
GSTN Expands Digital Payment Options: UPI Facility Available in 27 States and UTs Issue: To simplify the process of making Goods and Services Tax (GST) payments for taxpayers, enhance compliance efficiency, and promote digital transactions, the GST Network (GSTN) has significantly expanded the availability of the Unified Payments Interface (UPI) facility across most states and… Read More »
CBDT’s Circular on Extension of Timelines for Filing of Various Reports of Audit and Income Tax Returns (ITRs) for the Assessment Year 2025-26 Issue: To provide necessary relief to assessees and tax professionals and address the statutory compliance pressure, the Central Board of Direct Taxes (CBDT) formally utilized its authority under Section 119 of the… Read More »
Jewellery Worth Over ₹90 Lakh Seized by Income Tax Department Vanishes from Bank Locker; High Court Orders Taxpayer to Be Compensated Issue: Whether the Income Tax Department is liable to compensate a taxpayer for the loss of gold and jewelry worth over ₹90 lakh that was seized during a search operation and subsequently vanished or… Read More »
FinMin Seeks Industry Suggestions on Tax Changes Expected in FY27 Budget Issue: The Ministry of Finance (FinMin) has commenced the preparatory process for drafting the Union Budget for the Financial Year (FY) 2026-27 and has formally invited suggestions and proposals from industry associations and trade bodies regarding anticipated changes to the nation’s direct and indirect… Read More »
Global Uncertainties Present Downside Risks to Growth Outlook; GST Rate Cut Reforms to Mitigate Impact, Says Finance Ministry Issue: To summarize the Finance Ministry’s official assessment of the current economic environment, acknowledging the persistent threats from global uncertainties while highlighting how the recent Goods and Services Tax (GST) rate rationalization acts as a deliberate policy… Read More »
GST Reset Likely to Boost Demand Outlook: Finance Ministry Report Issue: To summarize the findings of a Finance Ministry report assessing the impact of the Goods and Services Tax (GST) rate rationalization (GST 2.0) on the domestic economy and providing an outlook on future consumer demand. Facts: The GST 2.0 reforms involved simplifying tax slabs… Read More »