Latest Articles
Private Company With No Operations Faced ₹45 Lakh Compliance Exposure
Company Law : A dormant company faced massive compliance costs due to years of non-filing. The case highlights that inactivity does not eliminat...
Intermediary Services under GST: Retrospective Impact of K.C. Overseas & Finance Act 2026?
Goods and Services Tax : The omission of Section 13(8)(b) applies only prospectively from 30 March 2026, as no saving clause exists. Past transactions and ...
The “Corporate Mitra” Shift: A Threat or an Evolution for CAs, CSs and CMAs?
CA, CS, CMA : The reform shifts routine compliance to para-professionals, creating fee pressure and client shifts. Professionals must move towar...
Concise Manual for Non-Profit Organizations under Income Tax Act 2025
Income Tax : The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but...
GSTAT Appeal Filing: A Practitioner’s Complete Step-by-Step Guide
Goods and Services Tax : GSTAT bridges a long-standing gap by providing a dedicated appellate forum, eliminating the need to directly approach High Courts....
Latest News
Delhi CGST Busts ₹8 Cr Fake ITC; Company Director Arrested
Goods and Services Tax : Authorities uncovered fraudulent ITC claims exceeding ₹8 crore without actual supply of goods. The ruling highlights that ITC is...
CAAS Moves Supreme Court on ITAT Vacancies
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
IBBI Proposes Amendments to IBBI (Liquidation Process) Regulations, 2016
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
MCA Consultation on Filing Reforms & Simplifying Compliance for Viksit Bharat 2047
Company Law : The initiative addresses inefficiencies in the current filing system and proposes consolidation and automation. It highlights a sh...
FIU-IND Signs MoUs with SEBI & PFRDA to Strengthen AML Framework
Finance : The agreements introduce structured protocols for intelligence sharing and monitoring compliance under PMLA. The ruling highlights...
Latest Judiciary
ITC Blocking Not Interfered With as SCNs Require Individual Adjudication: Bombay HC
Goods and Services Tax : The Court held that challenges to ITC blocking cannot be entertained at the show cause stage. It ruled that adjudication must firs...
Battery Components Classified as Parts Due to Essential Function: CAAR Delhi
Custom Duty : The ruling examines whether imported battery components qualify as parts based on their essential role. It clarifies that items so...
ARC Trustee Services Not Taxable as Banking Services; ₹50 Cr Demand Set Aside on Mutuality Principle
Service Tax : The issue involved taxability of management and incentive fees earned by an asset reconstruction company. The tribunal set aside t...
Service Tax Audit Stayed as SC Restores Interim Protection & Restrains CERA Action
Service Tax : The SC reinstated the original stay on CERA audit, holding that the High Court had no sufficient reason to alter long-standing int...
GST Demand Quashed as Consolidated SCN Across Multiple Years is invalid: Madras HC
Goods and Services Tax : The court held that issuing a single show cause notice for multiple financial years violates GST law. It ruled such “bunching”...
Latest Notifications
IRDAI Delegates Enforcement Powers Under Insurance Act: Key Changes Explained
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2026
SEBI : SEBI’s 2026 amendments reduce credit risk thresholds and widen investment options for InvITs. The changes improve flexibility wh...
Anti-Dumping Duty Amended: Large Lithograde Aluminium Coils Excluded
Custom Duty : The government excludes Lithograde aluminum coils above 1150 mm width from anti-dumping duty. The change follows court directions ...
Late Fee Waiver Granted Due to System Glitches in Maharashtra PT Return Filing
Goods and Services Tax : Due to technical issues on the new tax portal, late fees for Profession Tax returns were waived if tax was paid by 15 March 2026. ...
DGFT Updates List of Authorized Banks for Gold and Silver Import
DGFT : DGFT revised Appendix 4B to update banks permitted to import gold and silver. The notice clarifies authorized entities and validit...
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FAQs
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
The RBI clarifies which entities must file FLA returns and outlines the complete online filing process. The key takeaway is mandatory compliance for entities with foreign assets or liabilities.
