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Wed, 19 Aug 2026 20:21:10 +0530 en-us webmaster@taxtmi.com editor@taxtmi.com 60 RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes https://www.taxtmi.com/news?id=74351 https://www.taxtmi.com/news?id=74351 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Clear float glass imports become restricted, while qualifying higher-value imports and specified export-linked users remain exempt. https://www.taxtmi.com/highlights?id=102848 https://www.taxtmi.com/highlights?id=102848 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Mutual fund registration applications move to consolidated Form A while retaining staged sponsor and AMC compliance requirements. https://www.taxtmi.com/highlights?id=102847 https://www.taxtmi.com/highlights?id=102847 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Highlights TaxTMI Supersession Notification No. S.O.9/P.A.5/2017/S.112/2026, dated the 9th March, 2026 https://www.taxtmi.com/notifications?id=146664 https://www.taxtmi.com/notifications?id=146664 Wed, 19 Aug 2026 20:21:10 +0530 GST Notifications TaxLaws TaxTMI Bihar Police arrests man over alleged exam irregularities https://www.taxtmi.com/news?id=74350 https://www.taxtmi.com/news?id=74350 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI United Arab Emirates suspends trade with Iran after coming under renewed missile fire https://www.taxtmi.com/news?id=74349 https://www.taxtmi.com/news?id=74349 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI RBI minutes: Governor Malhotra awaits more clarity on inflation, opts for rate hold https://www.taxtmi.com/news?id=74348 https://www.taxtmi.com/news?id=74348 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Instant Credit Card Application With JioFinance: Step-by-Step Guide https://www.taxtmi.com/news?id=74347 https://www.taxtmi.com/news?id=74347 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Union Minister of Commerce Industry Shri Piyush Goyal leaves for Singapore for 4th India-Singapore Ministerial Roundtable and 4th India-Singapore Business Roundtable https://www.taxtmi.com/news?id=74346 https://www.taxtmi.com/news?id=74346 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI IDFC FIRST Bank successfully accesses international debt capital markets with maiden US$500 million bond issuance https://www.taxtmi.com/news?id=74345 https://www.taxtmi.com/news?id=74345 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Any attempt to defame CAS by manipulation will be dealt with sternly, warns Sebi's Pandey https://www.taxtmi.com/news?id=74344 https://www.taxtmi.com/news?id=74344 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Rupee falls 2 paise to settle at 95.76 against US dollar https://www.taxtmi.com/news?id=74343 https://www.taxtmi.com/news?id=74343 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Launch of Indian Customs EDI System (ICES 1.5) for Import and Export and Commencing of operations at ICD Hirnoda, Jaipur, [INHDA6] https://www.taxtmi.com/circulars?id=70841 https://www.taxtmi.com/circulars?id=70841 Wed, 19 Aug 2026 20:21:10 +0530 Customs Circulars TaxLaws TaxTMI QualityKiosk Establishes Hyderabad Engineering Hub to Advance AI Reliability, Agentic Engineering and AI Assurance for Global Enterprises https://www.taxtmi.com/news?id=74342 https://www.taxtmi.com/news?id=74342 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Automation of Refund Application and Processing for Courier Imports through Express Cargo Clearance System (ECCS) https://www.taxtmi.com/circulars?id=70839 https://www.taxtmi.com/circulars?id=70839 Wed, 19 Aug 2026 20:21:10 +0530 Customs Circulars TaxLaws TaxTMI Competition Commission of India (Commitment) Amendment Regulations, 2026 https://www.taxtmi.com/notifications?id=146652 https://www.taxtmi.com/notifications?id=146652 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Notifications TaxTMI Single Unified Multi-Purpose Electronic Bond in Customs - "Ekal Anubandh" https://www.taxtmi.com/circulars?id=70835 https://www.taxtmi.com/circulars?id=70835 Wed, 19 Aug 2026 20:21:10 +0530 Customs Circulars TaxLaws TaxTMI Mandatory filing of Sea Cargo Manifest and Transshipment Regulation (SCMTR) - Discontinuation of supplementary IGM/EGM filings by 12th August 2026 https://www.taxtmi.com/circulars?id=70834 https://www.taxtmi.com/circulars?id=70834 Wed, 19 Aug 2026 20:21:10 +0530 Customs Circulars TaxLaws TaxTMI ED raids SP leader Azam Khan's Trust and university in UP https://www.taxtmi.com/news?id=74341 https://www.taxtmi.com/news?id=74341 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Rupee rises 1 paisa to 95.73 against US dollar in early trade https://www.taxtmi.com/news?id=74340 https://www.taxtmi.com/news?id=74340 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Amendment in Import Policy and Policy condition of Clear Float Glass (4 mm- 12 mm), falling under ITC (HS) Codes 70051090 and 70052990, covered under Chapter 70 of Schedule - I (Import Policy) of ITC (HS) 2022. https://www.taxtmi.com/notifications?id=146644 https://www.taxtmi.com/notifications?id=146644 Wed, 19 Aug 2026 20:21:10 +0530 Customs Notifications TaxLaws TaxTMI CCI approves acquisition of 23% equity shareholding of TM International Logistics by Tata Steel Ltd https://www.taxtmi.com/news?id=74339 https://www.taxtmi.com/news?id=74339 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI CCI approves acquisition of additional shareholding of Acko Technology Services Pvt Ltd. by General Atlantic Singapore ACK Pte. Ltd https://www.taxtmi.com/news?id=74338 https://www.taxtmi.com/news?id=74338 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Union Minister of Commerce Industry Shri Piyush Goyal invites Japanese businesses to deepen investments and partnerships in India https://www.taxtmi.com/news?id=74337 https://www.taxtmi.com/news?id=74337 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Department of Commerce Organises Awareness Session on EU CBAM Regulations for Exporters https://www.taxtmi.com/news?id=74336 https://www.taxtmi.com/news?id=74336 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI PSB Confluence 2026 concludes with actionable strategies across seven themes for Public Sector Banks and Public Financial Institutions https://www.taxtmi.com/news?id=74335 https://www.taxtmi.com/news?id=74335 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI IN GST, "YES" IS NOTHING WITHOUT "HOW" A Demand Is Not Sustainable Unless the Proper Officer Explains How the Liability Arises https://www.taxtmi.com/article/detailed?id=17226 https://www.taxtmi.com/article/detailed?id=17226 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI Layers of a Shipping Bill under Indian Customs Law. https://www.taxtmi.com/article/detailed?id=17225 https://www.taxtmi.com/article/detailed?id=17225 Wed, 19 Aug 2026 20:21:10 +0530 Customs Articles TaxLaws TaxTMI Department has helped the taxpayer to get 100 % relief by way of their arguments which went against the department in GSTAT, Thiruvananthapuram Bench. https://www.taxtmi.com/article/detailed?id=17224 https://www.taxtmi.com/article/detailed?id=17224 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI An Advocate's Robe Does Not Decide GST on Insolvency Professional Services https://www.taxtmi.com/article/detailed?id=17223 https://www.taxtmi.com/article/detailed?id=17223 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI All orders imposing unwarranted penalty under Section 129 /130 of CGST Act 2017 requires a revisit if adverse order is passed by first appellate authority. https://www.taxtmi.com/article/detailed?id=17222 https://www.taxtmi.com/article/detailed?id=17222 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI Tax Adjudication Cannot Sleep for Fourteen Years https://www.taxtmi.com/article/detailed?id=17221 https://www.taxtmi.com/article/detailed?id=17221 Wed, 19 Aug 2026 20:21:10 +0530 Customs Articles TaxLaws TaxTMI Layers of Customs Litigation and Appeals: A Comprehensive Guide to the Customs Dispute Resolution Framework https://www.taxtmi.com/article/detailed?id=17220 https://www.taxtmi.com/article/detailed?id=17220 Wed, 19 Aug 2026 20:21:10 +0530 Customs Articles TaxLaws TaxTMI Layers of Customs Audit Investigation: A Comprehensive Framework for Customs Compliance, Verification, and Enforcement. https://www.taxtmi.com/article/detailed?id=17219 https://www.taxtmi.com/article/detailed?id=17219 Wed, 19 Aug 2026 20:21:10 +0530 Customs Articles TaxLaws TaxTMI Advance Authorisation under Chapter 4 of the Foreign Trade Policy, 2023: A Comprehensive Legal and Procedural Analysis for Export Professionals. https://www.taxtmi.com/article/detailed?id=17218 https://www.taxtmi.com/article/detailed?id=17218 Wed, 19 Aug 2026 20:21:10 +0530 Customs Articles TaxLaws TaxTMI ISO 22320:2018 Emergency Management Guidelines: A Comprehensive Guide to Incident Response and Disaster Management. https://www.taxtmi.com/article/detailed?id=17217 https://www.taxtmi.com/article/detailed?id=17217 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Articles TaxTMI Regular bail in GST input tax credit fraud granted after investigation concluded and continued custody lacked justification. https://www.taxtmi.com/highlights?id=102846 https://www.taxtmi.com/highlights?id=102846 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Bail in GST input tax credit prosecutions requires concrete risks, not criminal antecedents alone, where investigation is complete. https://www.taxtmi.com/highlights?id=102845 https://www.taxtmi.com/highlights?id=102845 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Criminal antecedents alone cannot defeat bail where GST evidence is documentary and prolonged pre-trial detention lacks justification. https://www.taxtmi.com/highlights?id=102844 https://www.taxtmi.com/highlights?id=102844 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Extended limitation notices require pleaded fraud or suppression with intent to evade tax, otherwise they are unsustainable. https://www.taxtmi.com/highlights?id=102843 https://www.taxtmi.com/highlights?id=102843 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Parallel GST proceedings require identical subject matter, while fact-intensive objections should ordinarily proceed through statutory appeal. https://www.taxtmi.com/highlights?id=102842 https://www.taxtmi.com/highlights?id=102842 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Legal possession for GST registration cannot be denied solely because landlords dispute the tenant's lease rights. https://www.taxtmi.com/highlights?id=102841 https://www.taxtmi.com/highlights?id=102841 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Input tax credit benefits must reach eligible property buyers, with interest and potential anti-profiteering penalties for shortfall. https://www.taxtmi.com/highlights?id=102840 https://www.taxtmi.com/highlights?id=102840 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Input tax credit reversal amendment operates prospectively, while unsupported fraud allegations require assessment under ordinary demand procedures. https://www.taxtmi.com/highlights?id=102839 https://www.taxtmi.com/highlights?id=102839 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Draft assessment procedure cannot create enforceable tax demand where no final assessment exists or international transaction variation is proposed. https://www.taxtmi.com/highlights?id=102838 https://www.taxtmi.com/highlights?id=102838 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Finality of appellate findings bars revision, while unsupported allegations of undisclosed tanker income cannot sustain an addition. https://www.taxtmi.com/highlights?id=102837 https://www.taxtmi.com/highlights?id=102837 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Service permanent establishment requires non-auxiliary services, while arm's-length distributor remuneration precludes further profit attribution in India. https://www.taxtmi.com/highlights?id=102836 https://www.taxtmi.com/highlights?id=102836 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Safe harbour for unquoted share valuation treats issue price within the permitted Rule 11UA variation as fair market value. https://www.taxtmi.com/highlights?id=102835 https://www.taxtmi.com/highlights?id=102835 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Make-available condition excludes standard SaaS subscription receipts where customers receive no independently usable technical knowledge after subscription expiry. https://www.taxtmi.com/highlights?id=102834 https://www.taxtmi.com/highlights?id=102834 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Undisclosed income requirement limits search penalty where surrendered land advances are merely uncorroborated applications of funds. https://www.taxtmi.com/highlights?id=102833 https://www.taxtmi.com/highlights?id=102833 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Erroneous and prejudicial assessments permit revision where deeming provisions, special tax rates, and penalty proceedings were overlooked. https://www.taxtmi.com/highlights?id=102832 https://www.taxtmi.com/highlights?id=102832 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Protective additions for seized jewellery require independent evidence once ownership is substantively assessed in another taxpayer's hands. https://www.taxtmi.com/highlights?id=102831 https://www.taxtmi.com/highlights?id=102831 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Anonymous donation classification fails where charitable trusts maintain undisputed donor identity records and evidence corpus contributions' intended purpose. https://www.taxtmi.com/highlights?id=102830 https://www.taxtmi.com/highlights?id=102830 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Approved resolution plans bind tax authorities and extinguish pre-approval tax appeals where plan terms require withdrawal of proceedings. https://www.taxtmi.com/highlights?id=102829 https://www.taxtmi.com/highlights?id=102829 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Penalty immunity under Vivad Se Vishwas excludes independent tax-audit defaults; futures and options turnover requires factual verification. https://www.taxtmi.com/highlights?id=102828 https://www.taxtmi.com/highlights?id=102828 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Eligible company incorporation timing controls capital-gains exemption; later commencement of manufacturing cannot cure an earlier incorporation date. https://www.taxtmi.com/highlights?id=102827 https://www.taxtmi.com/highlights?id=102827 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer pricing method selection favours TNMM where medical-equipment distribution involves substantial post-import value addition and operational risk assumption. https://www.taxtmi.com/highlights?id=102826 https://www.taxtmi.com/highlights?id=102826 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Sufficient cause for customs appeal delay requires bona fide diligence throughout; prolonged unexplained inaction defeats condonation. https://www.taxtmi.com/highlights?id=102825 https://www.taxtmi.com/highlights?id=102825 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Fire-damaged vehicles treated as scrap cannot trigger import licensing confiscation, while vessel berthing alone is not unloading. https://www.taxtmi.com/highlights?id=102824 https://www.taxtmi.com/highlights?id=102824 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Post-export shipping bill conversion remains available where contemporaneous evidence supports EPCG benefits despite curable procedural omissions and delayed requests. https://www.taxtmi.com/highlights?id=102823 https://www.taxtmi.com/highlights?id=102823 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Delayed customs refund interest starts after the refund-application period, with an enhanced rate for prolonged Revenue inaction. https://www.taxtmi.com/highlights?id=102822 https://www.taxtmi.com/highlights?id=102822 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Special Additional Duty refund limitation cannot curtail substantive refund rights through subordinate legislation without statutory authority. https://www.taxtmi.com/highlights?id=102821 https://www.taxtmi.com/highlights?id=102821 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Toy parts classification permits concessional customs duty treatment where imported components lack the essential character of complete ride-on toys. https://www.taxtmi.com/highlights?id=102820 https://www.taxtmi.com/highlights?id=102820 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Customs transaction value rejection requires Rule 12 procedure despite importer consent to reassessment of imported scrap values. https://www.taxtmi.com/highlights?id=102819 https://www.taxtmi.com/highlights?id=102819 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Tribunal intervention in requisitioned meetings requires proven impracticability, despite independent statutory remedies for members to convene them. https://www.taxtmi.com/highlights?id=102818 https://www.taxtmi.com/highlights?id=102818 Wed, 19 Aug 2026 20:21:10 +0530 Corporate Laws Highlights TaxLaws TaxTMI Committee of Creditors' commercial wisdom permits reconsideration and rejection of a resolution plan before adjudicatory approval. https://www.taxtmi.com/highlights?id=102817 https://www.taxtmi.com/highlights?id=102817 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Highlights TaxTMI Earnest money forfeiture in liquidation schemes fails where the proponent withdraws after its proposal is not accepted. https://www.taxtmi.com/highlights?id=102816 https://www.taxtmi.com/highlights?id=102816 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Highlights TaxTMI Money-laundering bail conditions prevailed where prima facie betting-account evidence, flight risk and progressing charges outweighed prolonged custody. https://www.taxtmi.com/highlights?id=102815 https://www.taxtmi.com/highlights?id=102815 Wed, 19 Aug 2026 20:21:10 +0530 PMLA Highlights TaxLaws TaxTMI Third-party property attachment requires proof of a money trail or equivalent-value liability, not alleged control alone. https://www.taxtmi.com/highlights?id=102814 https://www.taxtmi.com/highlights?id=102814 Wed, 19 Aug 2026 20:21:10 +0530 PMLA Highlights TaxLaws TaxTMI Interim release of frozen funds permitted for verified salaries and statutory dues, subject to safeguards protecting attached assets. https://www.taxtmi.com/highlights?id=102813 https://www.taxtmi.com/highlights?id=102813 Wed, 19 Aug 2026 20:21:10 +0530 PMLA Highlights TaxLaws TaxTMI Interest on refundable revenue deposits runs from deposit date, while blanket enhanced interest awards require case-specific justification. https://www.taxtmi.com/highlights?id=102812 https://www.taxtmi.com/highlights?id=102812 Wed, 19 Aug 2026 20:21:10 +0530 Excise Highlights TaxLaws TaxTMI NDPS bail safeguards for foreign nationals require statutory compliance, verified sureties and proportionate measures to prevent absconding. https://www.taxtmi.com/highlights?id=102811 https://www.taxtmi.com/highlights?id=102811 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Highlights TaxTMI Disciplinary inquiry delay requires demonstrable prejudice; charge memorandum survives where competent authority validly considered the disciplinary proposal. https://www.taxtmi.com/highlights?id=102810 https://www.taxtmi.com/highlights?id=102810 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Highlights TaxTMI Previous LDF govt didn't fulfil many obligations related to Vizhinjam port: CM Satheesan https://www.taxtmi.com/news?id=74334 https://www.taxtmi.com/news?id=74334 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Sitharaman calls on public sector banks to translate strength into competitiveness and leadership https://www.taxtmi.com/news?id=74333 https://www.taxtmi.com/news?id=74333 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Sitharaman asks public sector banks to focus on youth; provide cool, simple banking to suit their needs https://www.taxtmi.com/news?id=74332 https://www.taxtmi.com/news?id=74332 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI I-T department officials discuss roadmap for improving services for taxpayers https://www.taxtmi.com/news?id=74331 https://www.taxtmi.com/news?id=74331 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI India-UK trade agreement to benefit Haryana's industries and services sector: CM Saini https://www.taxtmi.com/news?id=74330 https://www.taxtmi.com/news?id=74330 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI FM asks banks to keep pace with youth expectation; calls for outreach campaign from Oct 2 https://www.taxtmi.com/news?id=74329 https://www.taxtmi.com/news?id=74329 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Foreign asset disclosure valuation rules set eligibility, electronic payment procedures, and conditional immunity for qualifying small taxpayers. https://www.taxtmi.com/highlights?id=102809 https://www.taxtmi.com/highlights?id=102809 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Customs tariff values for edible oils, metals and areca nuts are revised with effect from 15 August 2026. https://www.taxtmi.com/highlights?id=102808 https://www.taxtmi.com/highlights?id=102808 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI CCI approves acquisition of certain equity shareholding in Bharti Life Insurance Company by Prudential Corporation Holdings https://www.taxtmi.com/news?id=74328 https://www.taxtmi.com/news?id=74328 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Applicability of GST under RCM on CFO renewal fees paid to KSPCB /forum/issue?id=121074 /forum/issue?id=121074 Wed, 19 Aug 2026 20:21:10 +0530 GST Discussion-Forum TaxLaws TaxTMI Suspicious foreign remittances under I-T department scanner https://www.taxtmi.com/news?id=74327 https://www.taxtmi.com/news?id=74327 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Delhi tightens rules for ration shops, makes big stock discrepancies an FIR offence https://www.taxtmi.com/news?id=74326 https://www.taxtmi.com/news?id=74326 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Regional Rural Banks (RRBs) Record Strong Growth in Credit Delivery during FY 2025–26 https://www.taxtmi.com/news?id=74325 https://www.taxtmi.com/news?id=74325 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI METSTO Delivers Adjustable Pallet Racking System Solutions for Warehouses https://www.taxtmi.com/news?id=74324 https://www.taxtmi.com/news?id=74324 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI China rolls out new measures to boost consumption in counties, smaller cities https://www.taxtmi.com/news?id=74323 https://www.taxtmi.com/news?id=74323 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Strengthening Collaboration to Preserve Sovereignty: Collaborative Cash Ecosystems - Global Strategies to Preserve Trust and Sovereignty - Keynote Address [Contributions by Shri Sanjeev Prakash, Chief General Manager, and Ms. Hema Chatterjee, General Manager, Reserve Bank of India, are gratefully acknowledged. delivered by Shri Shirish Chandra Murmu, Deputy Governor at Focus Group Discussion: Global Cash Management, 2026, organised by Bank Indonesia in Jakarta, Indonesia, on August 13, 2026 https://www.taxtmi.com/news?id=74322 https://www.taxtmi.com/news?id=74322 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI SC asks CBI to examine all six allegations of dubious transactions involving Indiabulls https://www.taxtmi.com/news?id=74321 https://www.taxtmi.com/news?id=74321 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Cyber fraudsters invent 'boss' scam to target companies; Ahmedabad cops bust international network https://www.taxtmi.com/news?id=74320 https://www.taxtmi.com/news?id=74320 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Personal Loan Prepayment Charges: What RBI Rules Say in 2026 https://www.taxtmi.com/news?id=74319 https://www.taxtmi.com/news?id=74319 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Zeeba Revamps Packaging and Announces Chef Vikas Khanna as Its Global Brand Ambassador https://www.taxtmi.com/news?id=74318 https://www.taxtmi.com/news?id=74318 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Paul Merchants Finance Launches Loan Against Silver, Becomes India’s First NBFC to Set Up Exclusive Silver Loan Branches https://www.taxtmi.com/news?id=74317 https://www.taxtmi.com/news?id=74317 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI CarePass Launches This Independence Day, Bringing Healthcare Savings Across India's Top and Premium Hospitals https://www.taxtmi.com/news?id=74316 https://www.taxtmi.com/news?id=74316 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Keralam CM flags off containers from Vizhinjam, marking start of EXIM operations https://www.taxtmi.com/news?id=74315 https://www.taxtmi.com/news?id=74315 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Kerala: Fresh ED raids in CMRL-Exalogic Solutions case https://www.taxtmi.com/news?id=74314 https://www.taxtmi.com/news?id=74314 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI ED raids KPSC office, ex-chairman in veterinary officers hiring 'scam' case https://www.taxtmi.com/news?id=74313 https://www.taxtmi.com/news?id=74313 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Keralam CM reviews operational preparedness at Vizhinjam port https://www.taxtmi.com/news?id=74312 https://www.taxtmi.com/news?id=74312 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI GST recovery pending appeal: bank attachment lifted and coercive action restrained, while input tax credit merits await determination. https://www.taxtmi.com/highlights?id=102807 https://www.taxtmi.com/highlights?id=102807 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Supplier registration cancellation alone does not defeat input tax credit or justify custodial interrogation without evidence of purchaser collusion. https://www.taxtmi.com/highlights?id=102806 https://www.taxtmi.com/highlights?id=102806 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Penalty notice jurisdiction under UPGST turns on delegated authority and election of statutory appellate remedy. https://www.taxtmi.com/highlights?id=102805 https://www.taxtmi.com/highlights?id=102805 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Condonation of delay restored the GST appeal against retrospective registration cancellation for adjudication on merits. https://www.taxtmi.com/highlights?id=102804 https://www.taxtmi.com/highlights?id=102804 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Intra-firm stock transfers without taxable supply cannot trigger detention penalties solely for missing e-way bills. https://www.taxtmi.com/highlights?id=102803 https://www.taxtmi.com/highlights?id=102803 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Mandatory seven-day limitation for transit-goods penalty orders renders delayed detention penalties without jurisdiction under Section 129(3). https://www.taxtmi.com/highlights?id=102802 https://www.taxtmi.com/highlights?id=102802 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI GST rate-reduction benefits on cinema tickets require commensurate price cuts; raising base prices to retain cum-tax fares breaches anti-profiteering rules. https://www.taxtmi.com/highlights?id=102801 https://www.taxtmi.com/highlights?id=102801 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI GST rate reduction benefits must lower cum-tax cinema ticket prices despite fare-regulation directions and proposed fares. https://www.taxtmi.com/highlights?id=102800 https://www.taxtmi.com/highlights?id=102800 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Tariff Notes prevail over trade parlance, classifying PTFE braided gland packing as plastic and subjecting it to GST. https://www.taxtmi.com/highlights?id=102799 https://www.taxtmi.com/highlights?id=102799 Wed, 19 Aug 2026 20:21:10 +0530 GST Highlights TaxLaws TaxTMI Section 10B loss set-off remains available against other undertaking profits despite separate computation of export-profit deductions. https://www.taxtmi.com/highlights?id=102798 https://www.taxtmi.com/highlights?id=102798 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Electricity network contributions remain revenue expenditure where ownership and maintenance stay with the electricity board, supporting business profitability. https://www.taxtmi.com/highlights?id=102797 https://www.taxtmi.com/highlights?id=102797 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment beyond four years fails where recorded reasons produce no addition and full disclosure conditions remain unmet. https://www.taxtmi.com/highlights?id=102796 https://www.taxtmi.com/highlights?id=102796 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Business loss carry-forward fails where intervening returns were not filed, preventing determination of unabsorbed losses for set-off. https://www.taxtmi.com/highlights?id=102795 https://www.taxtmi.com/highlights?id=102795 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Section 263 revision fails where completed inquiry shows no identifiable revenue prejudice from unsecured loans or trade payables. https://www.taxtmi.com/highlights?id=102794 https://www.taxtmi.com/highlights?id=102794 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI TDS on cash withdrawals remains the bank's responsibility, and unsupported liens over customer accounts must be released. https://www.taxtmi.com/highlights?id=102793 https://www.taxtmi.com/highlights?id=102793 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Digital advertising and search optimisation costs remain revenue expenditure when they create no capital asset or enduring capital advantage. https://www.taxtmi.com/highlights?id=102792 https://www.taxtmi.com/highlights?id=102792 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Third-party search assessments fail after the statutory cut-off, while unrelated cash-acceptance penalties remain subject to strict limitation. https://www.taxtmi.com/highlights?id=102791 https://www.taxtmi.com/highlights?id=102791 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Interest expenditure linked to interest-bearing advances is deductible against taxable interest income when the borrowing nexus is established. https://www.taxtmi.com/highlights?id=102790 https://www.taxtmi.com/highlights?id=102790 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Consequential cash-receipt penalty fails when the underlying addition is deleted and seized material does not implicate the assessee. https://www.taxtmi.com/highlights?id=102789 https://www.taxtmi.com/highlights?id=102789 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Post-purchase residential reconstruction costs qualify for capital gains exemption when they genuinely improve the acquired house for residence. https://www.taxtmi.com/highlights?id=102788 https://www.taxtmi.com/highlights?id=102788 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Co-operative society deposit interest may retain business-income character, subject to statutory deposit conditions and factual verification. https://www.taxtmi.com/highlights?id=102787 https://www.taxtmi.com/highlights?id=102787 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment of a dissolved firm fails where successor income was already assessed and recorded reasons lacked transaction-specific material. https://www.taxtmi.com/highlights?id=102786 https://www.taxtmi.com/highlights?id=102786 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business purpose are established. https://www.taxtmi.com/highlights?id=102785 https://www.taxtmi.com/highlights?id=102785 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Section 87A rebate applies to tax on listed equity short-term capital gains taxed at the special rate. https://www.taxtmi.com/highlights?id=102784 https://www.taxtmi.com/highlights?id=102784 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Unabsorbed depreciation retains its character and can offset house-property income despite absence of positive business income. https://www.taxtmi.com/highlights?id=102783 https://www.taxtmi.com/highlights?id=102783 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Business expenditure and hedging premium claims remain allowable, while plant-related receipts reduce capital work-in-progress. https://www.taxtmi.com/highlights?id=102782 https://www.taxtmi.com/highlights?id=102782 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Captive wind-power profits use consumer tariff for deduction; unsupported payment disallowance for alleged withholding failures cannot stand. https://www.taxtmi.com/highlights?id=102781 https://www.taxtmi.com/highlights?id=102781 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Indexed cost of improvement requires proof of actual works and payments; estimates and quotations cannot support the claim. https://www.taxtmi.com/highlights?id=102780 https://www.taxtmi.com/highlights?id=102780 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Penny-stock sale additions require taxpayer-linked evidence, while undisclosed exempt capital gains can justify reassessment proceedings. https://www.taxtmi.com/highlights?id=102779 https://www.taxtmi.com/highlights?id=102779 Wed, 19 Aug 2026 20:21:10 +0530 Income Tax Highlights TaxLaws TaxTMI Evidentiary currency seizure under customs law remains retainable despite expiry of the notice period for confiscation proceedings. https://www.taxtmi.com/highlights?id=102778 https://www.taxtmi.com/highlights?id=102778 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Unjust enrichment in customs refunds fails where sales evidence proves duty incidence was not passed to buyers. https://www.taxtmi.com/highlights?id=102777 https://www.taxtmi.com/highlights?id=102777 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Customs detention starts the notice limitation period, invalidating extensions issued after the original period expires. https://www.taxtmi.com/highlights?id=102776 https://www.taxtmi.com/highlights?id=102776 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Customs detention without seizure requirements is arbitrary; imported goods require conditional release while assessment and adjudication continue. https://www.taxtmi.com/highlights?id=102775 https://www.taxtmi.com/highlights?id=102775 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs 3rd Meeting of Apex Monitoring Authority of NICDIT and reviews the progress of projects under NICDP https://www.taxtmi.com/news?id=74311 https://www.taxtmi.com/news?id=74311 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws News TaxTMI Customs show cause adjudication must meet statutory timelines; procedural amendments cannot revive stale or delayed claims. https://www.taxtmi.com/highlights?id=102774 https://www.taxtmi.com/highlights?id=102774 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained unrefuted. https://www.taxtmi.com/highlights?id=102773 https://www.taxtmi.com/highlights?id=102773 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Social Welfare Surcharge requires actual collection of basic customs duty, not MEIS or SEIS scrip debits. https://www.taxtmi.com/highlights?id=102772 https://www.taxtmi.com/highlights?id=102772 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Lawful domestic procurement evidence defeats gold confiscation when authorities fail to verify documents or prove smuggling and currency-sale links. https://www.taxtmi.com/highlights?id=102771 https://www.taxtmi.com/highlights?id=102771 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Burden of proof for foreign-origin gold requires lawful import evidence; unsupported claims can trigger confiscation and penalties. https://www.taxtmi.com/highlights?id=102770 https://www.taxtmi.com/highlights?id=102770 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Vegetable extract classification: standardising oil and antioxidant additions do not convert Keranat into a residual food preparation. https://www.taxtmi.com/highlights?id=102769 https://www.taxtmi.com/highlights?id=102769 Wed, 19 Aug 2026 20:21:10 +0530 Customs Highlights TaxLaws TaxTMI Front-running allegations require SEBI's statutory complaint, barring investor FIRs that seek to prosecute securities-market offences directly. https://www.taxtmi.com/highlights?id=102768 https://www.taxtmi.com/highlights?id=102768 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Highlights TaxTMI Use of alleged crime proceeds for another company's liabilities rejected; interim release of frozen funds set aside. https://www.taxtmi.com/highlights?id=102767 https://www.taxtmi.com/highlights?id=102767 Wed, 19 Aug 2026 20:21:10 +0530 PMLA Highlights TaxLaws TaxTMI Settled Means Settled - No Fresh SCN On A Decided Issue https://www.taxtmi.com/article/detailed?id=17216 https://www.taxtmi.com/article/detailed?id=17216 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI Non-Supply of Field Visit Report Vitiates Rejection of Revocation Application https://www.taxtmi.com/article/detailed?id=17215 https://www.taxtmi.com/article/detailed?id=17215 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI PROCEDURE OF DEBTS RECOVERY TRIBUNAL https://www.taxtmi.com/article/detailed?id=17214 https://www.taxtmi.com/article/detailed?id=17214 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Articles TaxTMI USE OF CRIMINAL LAW IN GST SEARCH SEIZURE https://www.taxtmi.com/article/detailed?id=17213 https://www.taxtmi.com/article/detailed?id=17213 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI Corporate Guarantees Under GST: Taxability Survives, Arbitrary Valuation Does Not https://www.taxtmi.com/article/detailed?id=17212 https://www.taxtmi.com/article/detailed?id=17212 Wed, 19 Aug 2026 20:21:10 +0530 GST Articles TaxLaws TaxTMI ISO 22301:2019 Business Continuity Management System (BCMS): A Comprehensive Guide to Disaster Recovery, Organizational Resilience, and Crisis Management. https://www.taxtmi.com/article/detailed?id=17211 https://www.taxtmi.com/article/detailed?id=17211 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Articles TaxTMI Tax Collected Twice Cannot Hide Behind Limitation https://www.taxtmi.com/article/detailed?id=17210 https://www.taxtmi.com/article/detailed?id=17210 Wed, 19 Aug 2026 20:21:10 +0530 Service Tax Articles TaxLaws TaxTMI IATF 16949:2016: A Comprehensive Guide to Automotive Quality Management Systems. https://www.taxtmi.com/article/detailed?id=17209 https://www.taxtmi.com/article/detailed?id=17209 Wed, 19 Aug 2026 20:21:10 +0530 TaxLaws Articles TaxTMI Layers of Customs Origin - Where Do the Goods Legally Originate? https://www.taxtmi.com/article/detailed?id=17208 https://www.taxtmi.com/article/detailed?id=17208 Wed, 19 Aug 2026 20:21:10 +0530 Customs Articles TaxLaws TaxTMI TMI Updates - Newsletter dated: August 19, 2026 https://www.taxtmi.com/newsletter?id=08/19/2026 https://www.taxtmi.com/newsletter?id=08/19/2026 Daily Updates Tax