GST rate cuts spurred domestic consumption, boosting GDP growth and improving demand and inflation dynamics.
Lowering of GST rates in September 2025 is presented as a central policy measure that stimulated domestic consumption, raised GST collections, and supported a 8.2% year on year GDP expansion in Q2 2025-26. Central bank and finance ministry reviews attribute stronger high frequency demand indicators, manufacturing and services upticks, and reduced retail inflation to the combined effects of GST cuts, prior income tax relief and accommodative liquidity, reinforcing near term growth momentum. (AI Summary)

100% EOU exporting under LUT without deemed export benefits can claim refund of accumulated unutilised ITC on zero rated supplies.
A 100% EOU that exported goods under a Letter of Undertaking without payment of tax, and whose suppliers did not avail deemed export benefits or follow deemed export procedures, is entitled to refund of accumulated unutilised input tax credit under the statutory refund provision for zero rated supplies; the administrative clarification excluding ITC on deemed exports from net ITC for refund applies only where deemed export benefits were actually availed, and cannot be invoked to deny refund where neither supplier nor recipient claimed such benefits. (AI Summary)

RSUs and Schedule FA: uncertainty over timing, valuation, disclosure and penalties for Indian taxpayers receiving foreign equity.
RSUs are treated as perquisites taxed when beneficial entitlement vests or restrictions lapse, measured by fair market value less any amount paid; sale of shares triggers capital gains. All foreign assets and income, including RSU-linked shares, must be disclosed in Schedule FA; nondisclosure can attract penalties, interest and prosecution. Foreign tax withheld may be creditable subject to treaty and documentation. Valuation of private foreign-company RSUs may require expert reports and internationally accepted methods. (AI Summary)

Taxable income exceeding Rs.12.75 lakh triggers loss of rebate, causing full slab-based tax on total income rather than tax only on excess.
The statutory rebate functions as a post-tax, all-or-nothing relief: if total income exceeds the prescribed limit even marginally, the rebate is lost and tax is payable on the entire taxable income computed under slab rates; statutory marginal relief does not apply to mitigate loss of the rebate except where expressly provided. (AI Summary)

Steam generating plant erected on site is immovable; bought out items supplied to site are not includible in CKD boiler excise value.
Central excise is a levy on manufacture and transaction value is relevant only after manufacture of movable excisable goods is established; a steam generating plant erected at site by assembling CKD parts and bought out items with substantial civil works is immovable and not excisable, so prices of duty paid bought out items supplied to site cannot be included in the assessable value of CKD boiler clearances, and extended limitation cannot be invoked absent positive evidence of deliberate suppression. (AI Summary)

Input tax credit under Section 16(5) overrides earlier time limits if returns filed by 30 November 2021.
Section 16(5) allows claimants to obtain input tax credit provided returns are filed by the prescribed cutoff date and, because it begins with "notwithstanding anything contained in Sub-section (4)", meeting that filing condition renders the time limit in Section 16(4) inapplicable; a prior adverse order under challenges to Section 16(4) does not bar a fresh statutory claim under Section 16(5). (AI Summary)

Company history checks in India identify financial, legal, and operational risks before forming business partnerships.
Due diligence requires verifying a company's background, leadership, financial performance trends, business relationships, and legal history using trusted business intelligence platforms, cross checking multiple sources, and applying a risk focused analysis to identify patterns such as ownership changes, unexplained expansion, or declining activity. (AI Summary)

Refund limits apply to tax paid, not payments made where the underlying income is exempt from tax.
The six-year administrative limitation for condoning delayed refund claims applies to refunds of tax paid, but does not apply where the payment was not a tax because the underlying receipt is exempt income; payments lacking the character of tax fall outside the circular's six-year restriction and may be refunded irrespective of that condonation limit. (AI Summary)

AIS/TDS mismatches arise when AIS reporting diverges from returns, requiring reconciliation, AIS feedback, and documentation to preserve TDS credit.
AIS/TDS mismatches occur when third party AIS reporting differs from taxpayer returns, triggering automated adjustments; TDS credit is available only where the income is offered to tax and mapped to the taxpayer's PAN, and credit must align to the year income is assessable. Taxpayers bear the initial reconciliation burden and should reconcile AIS/TIS/Form 26AS with books, submit AIS feedback with supporting documents, and correct or revise returns where required to prevent prima facie additions. (AI Summary)

Unexplained expenditure rules: Section 105 mandates disallowance of such amounts as deductions under the Act.
Section 105 makes amounts of unexplained expenditure deemed to be the assessee's income where no satisfactory explanation is offered, and subsection (2) provides that such deemed income shall not be allowed as a deduction under any provision of the Act. (AI Summary)

GST registration cancellation refused where petitioner misrepresented business, claimed fraudulent ITC and staged evidence; costs imposed.
The Court found that the taxpayer misrepresented business existence and operations, availed substantial Input Tax Credit while filing NIL returns, and used staged signage and other means to mislead inspections; it dismissed the writ petition for cancellation of GST registration, imposed substantial costs for misuse of the judicial process, and permitted departmental investigation and recovery proceedings to continue. (AI Summary)

Board diversity improves decision-making, risk oversight, and long-term governance resilience through broader representation and better board processes.
A diverse board enhances deliberation, oversight, and risk identification by bringing varied perspectives, producing structural benefits for long-term governance even when short-term financial effects are mixed. Persistent representation gaps arise from narrow recruitment networks and one-dimensional diversity efforts. Data limitations and causation challenges complicate empirical assessment. Policy responses favor disclosure and comply or explain mechanisms alongside investor voting pressure, while effective corporate practice requires expanding director pipelines, succession planning, mentorship, and regular board evaluations to convert representation into meaningful participation. (AI Summary)

Goods and Services Tax: Acceptance under scrutiny bars later tax demand proceedings on same grounds and transactions.
Acceptance of a registered person's explanation recorded at the end of scrutiny, with communication that no further action is required, closes the scrutiny cycle and bars initiation of determination proceedings on the same discrepancies, period and transactions; a later show cause notice and demand duplicating those grounds is legally impermissible. (AI Summary)

Shareholder activism demands boards balance engagement with preserving long-term strategy and governance independence to manage risk.
Boards must balance multidimensional shareholder activism-spanning financial and values based demands-by engaging transparently through formalized disclosure and evaluation protocols while preserving independence and long term strategic stewardship; engagement can be constructive when it disciplines management and improves oversight, but over responsiveness risks short termism and governance by referendum. (AI Summary)

Renting of residential dwellings: pre 2022 rents eligible for refund; post 2022 registered lessees face reverse charge distortion.
Renting for use as residence is exempt under Entry 13 based on the property's use, so hostels and long term PGs qualify regardless of the lessee's identity. GST paid on such renting before 18 July 2022 is taxable without legal authority and subject to refund; the 2022 amendment excluding registered lessees does not apply retrospectively. The post amendment imposition of reverse charge on registered lessees while onward supplies remain exempt creates an input-output taxability mismatch and blocks input tax credit. (AI Summary)

Chartered Accountant issuing Form 15CB without knowing of forged documents is not criminally liable under money laundering law.
Issuing Form 15CB to certify the nature of remittance does not, by itself, impose criminal liability under the Prevention of Money Laundering Act where the accountant lacked knowledge of forged documents; absence of culpable knowledge and cooperation with authorities distinguish professional certification from conduct generating proceeds of crime and undermines conspiracy allegations, making the professional more appropriately treated as a witness. (AI Summary)

Tax rebate under sections 87/87A must be allowed to eligible individuals even when tax is at concessional rates.
Sections 87 and 87A create independent, self-contained and mandatory entitlements to a tax rebate: an eligible individual "shall be entitled" to a deduction from the amount of income-tax as computed before chapter deductions, subject to the provision's exhaustive eligibility limits and caps, and the rebate applies against tax payable even when tax is computed at special or concessional rates; if no tax is payable, no rebate arises. (AI Summary)

Goods and Services Tax: Supreme Court to examine if circulars can permit parallel GST proceedings; Bombay HC order stayed.
The Supreme Court will decide whether the statutory bar on duplicate or parallel proceedings by central and state tax authorities precludes administrative circulars from authorising concurrent adjudication; it has issued notice and stayed the High Court order and consequential actions pending consideration. (AI Summary)

Corporate arbitration offers confidential, expert resolution for shareholder and boardroom disputes but needs precise drafting.
Arbitration offers confidentiality, flexibility, and specialist decisionmakers for internal corporate disputes, but effective use depends on carefully drafted clauses that define arbitrators' powers and remedies, anticipate multi-party and cross-jurisdictional complexities, and balance confidentiality with governance transparency. (AI Summary)

Companies may owe MAT despite 100% income-tax exemptions because MAT is levied on book profit.
Companies can have nil tax under normal provisions due to exemptions and deductions while remaining liable to MAT because MAT is computed on book profit from financial statements. MAT is charged with surcharge and health and education cess; excess MAT over normal tax generates a MAT credit that can be carried forward and set off against future normal tax. Book profit computation and adjustments are technical and may require professional review. (AI Summary)