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 »
GST Collection Sparkles Despite Wholesale Cuts; Govt Foresees Marginal Shortfall From Budget Estimates, Upbeat About Oct Numbers Issue: To assess the impact of the sweeping GST rate rationalization (GST 2.0), which reduced tax on over 99% of items, on the government’s expected annual revenue targets and the overall GST collection buoyancy. Facts: The GST reforms,… Read More »
Staffing Services Need Relief from GST 2.0’s Tax Inequity that Has Made Gig Hiring More Attractive Issue: To highlight how the Goods and Services Tax (GST) 2.0 rate rationalization, despite lowering taxes on goods, maintains a high tax rate on formal manpower supply services (staffing), inadvertently creating a tax inequity that makes informal gig hiring… Read More »
Tax Audit Deadline Not Extended for These Taxpayers; Karnataka CA Body Highlights Anomalies in CBDT’s Due Date Extension Circular Issue: The Central Board of Direct Taxes (CBDT) extended the due dates for the Tax Audit Report (TAR) and Income Tax Return (ITR) for most audit cases, but its official circular failed to grant similar extensions… Read More »
₹8 Lakh Cash Deposited in Bank – Man Gets Tax Notice! Assessing Officer Deems It Presumptive Business Income, But Taxpayer Wins Case in ITAT – Ruling Explained (Mr. Kumar vs. Income Tax Officer, ITAT Delhi) Issue: Whether an Assessing Officer (AO) conducting a “limited scrutiny” assessment (opened only to examine cash deposits) can subsequently travel… Read More »
HUL Receives ₹1,986 Crore Income Tax Assessment Order for FY21 Issue: The Income Tax Department issued a large assessment order and notice of demand against the FMCG major Hindustan Unilever Limited (HUL) pertaining to the financial year 2020-21 (Assessment Year 2021-22). Facts: Hindustan Unilever Limited (HUL) received an assessment order, along with a notice… Read More »
GST Cuts Fuel Consumer Durables Output to 10-Month High Issue: To analyze the surge in consumer durables production in September 2025, determining the factors driving the growth and assessing the sustainability of this momentum, especially in light of the recent GST rate rationalization. Facts: The GST rate cuts were implemented effective September 22, 2025. The… Read More »
Supreme Court Issues Directions: No Arbitrary Summons to Advocates in Criminal Cases Issue: To prevent investigative agencies (like the Income Tax Department or police) from arbitrarily issuing summons to advocates in criminal cases regarding legal advice given to their clients, which undermines attorney-client privilege and the independence of the legal profession. Facts: The Supreme… Read More »
GST Collection Rises 4.6% Despite Rate Cuts; Total Collection at ₹1.96 Lakh Crore in October 2025; Festive Purchasing Drives Growth Issue: To analyze the revenue performance of the Goods and Services Tax (GST) in October 2025, specifically determining whether the strong consumer spending during the festive season successfully counteracted the expected revenue decline caused by… Read More »