Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Early pay-in in the commodity derivatives segment is clarified and revised so that clearing corporations must provide a facility for market participants to deposit certified goods in accredited warehouses against relevant derivatives contracts. Where early pay-in has been made, clearing corporations may, based on risk perception, exempt all types of margins, but they must continue to collect mark-to-market margins on those positions. The revision takes effect from 21 September 2026 and requires exchanges and clearing corporations to update their systems and disseminate the change to members.
Early pay-in in the commodity derivatives segment is clarified and revised so that clearing corporations must provide a facility for market participants to deposit certified goods in accredited warehouses against relevant derivatives contracts. Where early pay-in has been made, clearing corporations may, based on risk perception, exempt all types of margins, but they must continue to collect mark-to-market margins on those positions. The revision takes effect from 21 September 2026 and requires exchanges and clearing corporations to update their systems and disseminate the change to members.
Note: It is a system-generated summary and is for quick reference only.
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