Tax Updates - Daily Update https://www.taxtmi.com One stop solution for Direct Taxes and Indirect Taxes and Corporate Laws in India Business/Tax/Law/GST/India/Taxation/Policies/Legal/Corporate Tax/Personal Tax/Vat Law/Legal Information/Tax Information/Legal Services/Tax Services TaxTMI.Com / MS Knowledge Processing Pvt. Ltd. All rights reserved. Mon, 10 Aug 2026 13:20:05 +0530 en-us webmaster@taxtmi.com editor@taxtmi.com 60 Scientific research approval grants the specified company recognised status for tax purposes across five tax years. https://www.taxtmi.com/highlights?id=102564 https://www.taxtmi.com/highlights?id=102564 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Interest subvention administration shifts to EXIM Bank, which will verify, settle and reimburse eligible export-credit claims from April 2026. https://www.taxtmi.com/highlights?id=102563 https://www.taxtmi.com/highlights?id=102563 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Television Set registration compliance under IS 18112:2022 is deferred, extending the compulsory implementation timeline to January 2027. https://www.taxtmi.com/highlights?id=102562 https://www.taxtmi.com/highlights?id=102562 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Single electronic customs bond enables nationwide digital coverage for multiple import, export and warehousing obligations without notarisation. https://www.taxtmi.com/highlights?id=102561 https://www.taxtmi.com/highlights?id=102561 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI GST registration restoration may follow filing pending returns and clearing tax dues, interest and late fees under Rule 22(4). https://www.taxtmi.com/highlights?id=102560 https://www.taxtmi.com/highlights?id=102560 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Terminal gate verification for transshipment containers shifts to operators, while Customs controls and discrepancy reporting requirements remain mandatory. https://www.taxtmi.com/highlights?id=102559 https://www.taxtmi.com/highlights?id=102559 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Public interest litigation cannot supervise tax investigations where statutory enquiries are underway and no official mala fides are shown. https://www.taxtmi.com/highlights?id=102558 https://www.taxtmi.com/highlights?id=102558 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Extended input tax credit deadline validated a Financial Year 2018-19 claim, requiring reversal assessment to be set aside. https://www.taxtmi.com/highlights?id=102557 https://www.taxtmi.com/highlights?id=102557 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Statutory appellate remedy governs GST adjudication challenges where evidentiary disputes and alleged hearing defects require factual examination. https://www.taxtmi.com/highlights?id=102556 https://www.taxtmi.com/highlights?id=102556 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Electronic portal upload alone does not validly serve GST notices or adjudication orders without assessee acknowledgement or response. https://www.taxtmi.com/highlights?id=102555 https://www.taxtmi.com/highlights?id=102555 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Personal hearing and reasoned consideration of replies are mandatory before adverse GST assessment orders can be issued. https://www.taxtmi.com/highlights?id=102554 https://www.taxtmi.com/highlights?id=102554 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Statutory GST pre-deposit requirements enabled remand for fresh adjudication after verified recovery adjustment and a supported reply. https://www.taxtmi.com/highlights?id=102553 https://www.taxtmi.com/highlights?id=102553 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Effective GST notice service requires additional statutory modes and a personal hearing before sustaining an ex parte assessment. https://www.taxtmi.com/highlights?id=102552 https://www.taxtmi.com/highlights?id=102552 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Assignment of complete GIDC leasehold rights is transfer of immovable property, not a GST-taxable supply of services. https://www.taxtmi.com/highlights?id=102551 https://www.taxtmi.com/highlights?id=102551 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Tariff classification of Papad Khar as an inorganic carbonate results in GST liability without input-based exemption. https://www.taxtmi.com/highlights?id=102550 https://www.taxtmi.com/highlights?id=102550 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Composite job-work with offset printing as principal supply attracts 18% GST where kraft and duplex paper do not qualify for concession. https://www.taxtmi.com/highlights?id=102549 https://www.taxtmi.com/highlights?id=102549 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Common-parlance soap classification treats apparel-washing detergent bars as laundry soaps, attracting the applicable GST rate under Schedule II. https://www.taxtmi.com/highlights?id=102548 https://www.taxtmi.com/highlights?id=102548 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Limitation for DRP-directed assessments remains governed by the outer statutory deadline, rendering an untimely final assessment invalid. https://www.taxtmi.com/highlights?id=102547 https://www.taxtmi.com/highlights?id=102547 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI TDS credit reflected under one co-owner's PAN should be fully allowed where other co-owners neither claim nor seek transfer. https://www.taxtmi.com/highlights?id=102546 https://www.taxtmi.com/highlights?id=102546 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Reasonable cause for non-audit protected commission-based milk-pouch sales from penalty after returned income was accepted without additions. https://www.taxtmi.com/highlights?id=102545 https://www.taxtmi.com/highlights?id=102545 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Stamp-duty valuation disputes require a valuation reference when requested, preventing unsupported additions under section 56(2)(x). https://www.taxtmi.com/highlights?id=102544 https://www.taxtmi.com/highlights?id=102544 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Notional rental income requires receipt or accrual; reimbursement-only arrangements cannot support taxation of usage charges. https://www.taxtmi.com/highlights?id=102543 https://www.taxtmi.com/highlights?id=102543 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Communication of reopening reasons is essential to reassessment jurisdiction; withholding them invalidates the notice and resulting assessment order. https://www.taxtmi.com/highlights?id=102542 https://www.taxtmi.com/highlights?id=102542 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Specific allegations in Customs Broker notices are essential; vague notices invalidate disciplinary action and consequential licence sanctions. https://www.taxtmi.com/highlights?id=102541 https://www.taxtmi.com/highlights?id=102541 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Deliberate customs misclassification and wrongful exemption claims justified extended limitation for duty recovery and upheld the demand. https://www.taxtmi.com/highlights?id=102540 https://www.taxtmi.com/highlights?id=102540 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exemption. https://www.taxtmi.com/highlights?id=102539 https://www.taxtmi.com/highlights?id=102539 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary stage. https://www.taxtmi.com/highlights?id=102538 https://www.taxtmi.com/highlights?id=102538 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Customs exemption exclusions require proof that imported flavour compounds are alcoholic beverage preparations, not reliance on earlier findings. https://www.taxtmi.com/highlights?id=102537 https://www.taxtmi.com/highlights?id=102537 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Customs transaction value rejection based on comparable imports sustained, with penalties for deliberate undervaluation and abetment. https://www.taxtmi.com/highlights?id=102536 https://www.taxtmi.com/highlights?id=102536 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Liberal construction of beneficial drawback schemes requires merits review of delayed Brand Rate applications within the extendable period. https://www.taxtmi.com/highlights?id=102535 https://www.taxtmi.com/highlights?id=102535 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Locus standi in winding-up proceedings: former director's individual challenge to creditors' claims was barred by prior final adjudication. https://www.taxtmi.com/highlights?id=102534 https://www.taxtmi.com/highlights?id=102534 Mon, 10 Aug 2026 13:20:05 +0530 Corporate Laws Highlights TaxLaws TaxTMI Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fail. https://www.taxtmi.com/highlights?id=102533 https://www.taxtmi.com/highlights?id=102533 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws Highlights TaxTMI PMLA committal requires prior cognizance, protecting a substantially completed scheduled-offence trial from delay and preserving speedy trial rights. https://www.taxtmi.com/highlights?id=102532 https://www.taxtmi.com/highlights?id=102532 Mon, 10 Aug 2026 13:20:05 +0530 PMLA Highlights TaxLaws TaxTMI PMLA twin conditions bar regular bail where alleged undervalued asset sales generated unrecorded cash and investigation risks persist. https://www.taxtmi.com/highlights?id=102531 https://www.taxtmi.com/highlights?id=102531 Mon, 10 Aug 2026 13:20:05 +0530 PMLA Highlights TaxLaws TaxTMI Composite high seas sale consideration includes letter of credit costs and cannot be split into taxable banking services. https://www.taxtmi.com/highlights?id=102530 https://www.taxtmi.com/highlights?id=102530 Mon, 10 Aug 2026 13:20:05 +0530 Service Tax Highlights TaxLaws TaxTMI Personal liability for trust cheque dishonour requires proof of enforceable debt; rebutted presumptions support acquittal. https://www.taxtmi.com/highlights?id=102529 https://www.taxtmi.com/highlights?id=102529 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws Highlights TaxTMI Net Owned Fund compliance remained mandatory despite a pending amalgamation proposal, sustaining cancellation of NBFC registration. https://www.taxtmi.com/highlights?id=102528 https://www.taxtmi.com/highlights?id=102528 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws Highlights TaxTMI Issuance of Public Notice regarding change of name of the CFS - From M/s. APM Terminals India Private Limited to M/s. Maersk Logistics Services India Private Limited https://www.taxtmi.com/circulars?id=70739 https://www.taxtmi.com/circulars?id=70739 Mon, 10 Aug 2026 13:20:05 +0530 Customs Circulars TaxLaws TaxTMI Rupee falls 8 paise to 95.25 against US dollar in early trade https://www.taxtmi.com/news?id=74211 https://www.taxtmi.com/news?id=74211 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia https://www.taxtmi.com/news?id=74210 https://www.taxtmi.com/news?id=74210 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps https://www.taxtmi.com/news?id=74209 https://www.taxtmi.com/news?id=74209 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI No Charges for UPI Users https://www.taxtmi.com/news?id=74208 https://www.taxtmi.com/news?id=74208 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting https://www.taxtmi.com/news?id=74207 https://www.taxtmi.com/news?id=74207 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026 https://www.taxtmi.com/news?id=74206 https://www.taxtmi.com/news?id=74206 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI SUPPLY- THE ALMA MATER OF THE GST REGIME https://www.taxtmi.com/article/detailed?id=17150 https://www.taxtmi.com/article/detailed?id=17150 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI WHETHER A WRIT PETITION UNDER ARTICLE 32 OF THE CONSTITUTION IS MAINTAINABLE FOR SEEKING QUASHING OF AN F.I.R. https://www.taxtmi.com/article/detailed?id=17149 https://www.taxtmi.com/article/detailed?id=17149 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws Articles TaxTMI Multiplicity of Proceedings Under GST - When Two Authorities Cannot Pursue the Same Dispute Concluding Part III - From the Supreme Court Roadmap to a Workable Approach for Preventing Multiplicity https://www.taxtmi.com/article/detailed?id=17148 https://www.taxtmi.com/article/detailed?id=17148 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Section 16(2)(c): Beyond What the Hon'ble Supreme Court Decided. https://www.taxtmi.com/article/detailed?id=17147 https://www.taxtmi.com/article/detailed?id=17147 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Multiplicity of Proceedings Under GST - When Two Authorities Cannot Pursue the Same Dispute Part II - From Judicial Conflict to the Supreme Court Roadmap https://www.taxtmi.com/article/detailed?id=17146 https://www.taxtmi.com/article/detailed?id=17146 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Understanding Export Obligation under the EPCG Scheme - A Practical Guide to Specific Export Obligation and Average Export Obligation under FTP 2023 HBP 2023 (as amended) https://www.taxtmi.com/article/detailed?id=17145 https://www.taxtmi.com/article/detailed?id=17145 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI Multiplicity of Proceedings Under GST - When Two Authorities Cannot Pursue the Same Dispute PART I - From Cross-Empowerment to the Problem of Parallel Proceedings https://www.taxtmi.com/article/detailed?id=17144 https://www.taxtmi.com/article/detailed?id=17144 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Gold, Foreign Currency Reserves, De-dollarization, Customs Duty and Smuggling: An In-Depth Analysis. https://www.taxtmi.com/article/detailed?id=17143 https://www.taxtmi.com/article/detailed?id=17143 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI ADR vs. Bonds - Everything You Need to Know https://www.taxtmi.com/article/detailed?id=17142 https://www.taxtmi.com/article/detailed?id=17142 Mon, 10 Aug 2026 13:20:05 +0530 Corporate Laws Articles TaxLaws TaxTMI DGFT Introduces Digital Verification of Voluntary Duty Payments for EODC Processing under AA and EPCG Schemes https://www.taxtmi.com/article/detailed?id=17141 https://www.taxtmi.com/article/detailed?id=17141 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth https://www.taxtmi.com/news?id=74205 https://www.taxtmi.com/news?id=74205 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Classification of gst for our shop /forum/issue?id=121061 /forum/issue?id=121061 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI Refund arising due to Inverted Duty Structure /forum/issue?id=121058 /forum/issue?id=121058 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI GST applicability on leased out property for residential purpose /forum/issue?id=121057 /forum/issue?id=121057 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI GST taxability in case of supply of security gaurd services--Reverse charge or forward charge /forum/issue?id=121054 /forum/issue?id=121054 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister https://www.taxtmi.com/news?id=74204 https://www.taxtmi.com/news?id=74204 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives https://www.taxtmi.com/news?id=74203 https://www.taxtmi.com/news?id=74203 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI RJD criticises UDF govt's move not to disburse pensions through cooperative banks https://www.taxtmi.com/news?id=74202 https://www.taxtmi.com/news?id=74202 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI GST on recovery of electricity charges under lease and PPA /forum/issue?id=121048 /forum/issue?id=121048 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI Export of Services - Remittance recieved on personal Savings account. /forum/issue?id=121047 /forum/issue?id=121047 Mon, 10 Aug 2026 13:20:05 +0530 Corporate Laws Discussion-Forum TaxLaws TaxTMI Reclaim of ITC (through TRAN-1) after reversal - redrafted issue id 121043 /forum/issue?id=121046 /forum/issue?id=121046 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI Foreign exchange fluctuation income booked /forum/issue?id=121044 /forum/issue?id=121044 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI Reclaim of ITC (through TRAN-1) after reversal /forum/issue?id=121043 /forum/issue?id=121043 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI Delayed LUT Application and Filing of Pending GST Returns for Export of Services /forum/issue?id=121042 /forum/issue?id=121042 Mon, 10 Aug 2026 13:20:05 +0530 GST Discussion-Forum TaxLaws TaxTMI sec 44ad and sec 44ab inter change /forum/issue?id=121062 /forum/issue?id=121062 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Discussion-Forum TaxLaws TaxTMI Raymond Limited reports a healthy Q1 FY27 performance https://www.taxtmi.com/news?id=74201 https://www.taxtmi.com/news?id=74201 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Why Most People Choose the Wrong Savings Account And How Not to Be One of Them https://www.taxtmi.com/news?id=74200 https://www.taxtmi.com/news?id=74200 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offices. https://www.taxtmi.com/highlights?id=102527 https://www.taxtmi.com/highlights?id=102527 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence conditions. https://www.taxtmi.com/highlights?id=102526 https://www.taxtmi.com/highlights?id=102526 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI DPIIT-recognized start-ups gain Source from India access through active IEC status, including an exception to export-realisation eligibility. https://www.taxtmi.com/highlights?id=102525 https://www.taxtmi.com/highlights?id=102525 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah https://www.taxtmi.com/news?id=74199 https://www.taxtmi.com/news?id=74199 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India' https://www.taxtmi.com/news?id=74198 https://www.taxtmi.com/news?id=74198 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge https://www.taxtmi.com/news?id=74197 https://www.taxtmi.com/news?id=74197 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Technology, transparency key for urban cooperative banks to stay competitive: Shah https://www.taxtmi.com/news?id=74196 https://www.taxtmi.com/news?id=74196 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework https://www.taxtmi.com/news?id=74195 https://www.taxtmi.com/news?id=74195 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Supersession Notification No. 7332-FIN-CTGST-TAX-0001-2026/F, dated the 19th March, 2026 https://www.taxtmi.com/notifications?id=146520 https://www.taxtmi.com/notifications?id=146520 Mon, 10 Aug 2026 13:20:05 +0530 GST Notifications TaxLaws TaxTMI IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0 https://www.taxtmi.com/news?id=74194 https://www.taxtmi.com/news?id=74194 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Condonation of delayed GST appeals can preserve merits review and suspend recovery pending appellate determination of tax liability. https://www.taxtmi.com/highlights?id=102524 https://www.taxtmi.com/highlights?id=102524 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Opportunity to respond to show-cause notices restored as tax demand and time-barred appellate orders were set aside https://www.taxtmi.com/highlights?id=102523 https://www.taxtmi.com/highlights?id=102523 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI GST self-assessment scrutiny must precede demand proceedings alleging undervaluation of bank guarantees and suppressed taxable value. https://www.taxtmi.com/highlights?id=102522 https://www.taxtmi.com/highlights?id=102522 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Provisional attachment expires after its statutory duration, making the challenge infructuous without a merits determination. https://www.taxtmi.com/highlights?id=102521 https://www.taxtmi.com/highlights?id=102521 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Ophthalmic surgical microscopes fall under medical instruments heading 9018 and qualify for the concessional GST rate. https://www.taxtmi.com/highlights?id=102520 https://www.taxtmi.com/highlights?id=102520 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Paper bag classification under the concessional entry places qualifying paper sacks and bags at the lower GST rate. https://www.taxtmi.com/highlights?id=102519 https://www.taxtmi.com/highlights?id=102519 Mon, 10 Aug 2026 13:20:05 +0530 GST Highlights TaxLaws TaxTMI Conditional remand cannot extinguish statutory appeal rights; invalid ex parte orders require fresh reasoned merits adjudication. https://www.taxtmi.com/highlights?id=102518 https://www.taxtmi.com/highlights?id=102518 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Retrospective tax amendments cannot create new liability for offshore technical services or override favourable treaty interpretation. https://www.taxtmi.com/highlights?id=102517 https://www.taxtmi.com/highlights?id=102517 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Inter-co-operative society interest exemption protects co-operative banks from withholding tax on deposits paid to non-member societies. https://www.taxtmi.com/highlights?id=102516 https://www.taxtmi.com/highlights?id=102516 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Finality of judicial findings required compounding fee recomputation under earlier guidelines, barring application of later revised guidelines. https://www.taxtmi.com/highlights?id=102515 https://www.taxtmi.com/highlights?id=102515 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assessment procedure. https://www.taxtmi.com/highlights?id=102514 https://www.taxtmi.com/highlights?id=102514 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment procedure: participation may cure objections to an absent scrutiny notice, while additions must retain nexus with recorded reasons. https://www.taxtmi.com/highlights?id=102513 https://www.taxtmi.com/highlights?id=102513 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Reasonable cause for notice non-compliance during pandemic disruption prevented penalty for a technical default by an educational trust. https://www.taxtmi.com/highlights?id=102512 https://www.taxtmi.com/highlights?id=102512 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Charitable trust exemption survives section 13 violations except to the extent income benefits specified persons or trustees. https://www.taxtmi.com/highlights?id=102511 https://www.taxtmi.com/highlights?id=102511 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Balance-sheet reclassifications do not create taxable income without a profit-and-loss debit, deduction claim, or established charging basis. https://www.taxtmi.com/highlights?id=102510 https://www.taxtmi.com/highlights?id=102510 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Bona fide deduction claims and unspecified penalty notices prevent under-reporting penalty under section 270A. https://www.taxtmi.com/highlights?id=102509 https://www.taxtmi.com/highlights?id=102509 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Permanent establishment requirements were unmet, so offshore supply and repair receipts remained outside Indian taxation under the treaty. https://www.taxtmi.com/highlights?id=102508 https://www.taxtmi.com/highlights?id=102508 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI HUF property taxation: individual ownership evidence excluded stamp-duty value difference from taxation under the deemed receipt provision. https://www.taxtmi.com/highlights?id=102507 https://www.taxtmi.com/highlights?id=102507 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Binding interim judicial directions protected employers from withholding default on foreign-leg leave travel concession payments despite later clarification. https://www.taxtmi.com/highlights?id=102506 https://www.taxtmi.com/highlights?id=102506 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Rectification jurisdiction excludes debatable income computation, leaving capital receipt and expenditure treatment for appellate determination. https://www.taxtmi.com/highlights?id=102505 https://www.taxtmi.com/highlights?id=102505 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate remedy. https://www.taxtmi.com/highlights?id=102504 https://www.taxtmi.com/highlights?id=102504 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Jurisdictional notice requirement invalidates scrutiny assessments when the assessing officer completing assessment issued no statutory notice. https://www.taxtmi.com/highlights?id=102503 https://www.taxtmi.com/highlights?id=102503 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Reasonable cause for emergency cash loans protected genuine acceptance and repayment transactions from statutory penalties. https://www.taxtmi.com/highlights?id=102502 https://www.taxtmi.com/highlights?id=102502 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Highlights TaxLaws TaxTMI Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automatic abatement. https://www.taxtmi.com/highlights?id=102501 https://www.taxtmi.com/highlights?id=102501 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Credible material of corruption is required for an independent investigation; clearance delays and valuation disputes alone are insufficient. https://www.taxtmi.com/highlights?id=102500 https://www.taxtmi.com/highlights?id=102500 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Baggage import jurisdiction remains outside Tribunal appeals, directing confiscation and penalty disputes to the statutory revisional remedy. https://www.taxtmi.com/highlights?id=102499 https://www.taxtmi.com/highlights?id=102499 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Glow Plug Control Units classified as engine starting equipment; extended demand and penalty fail without suppression or evasion intent. https://www.taxtmi.com/highlights?id=102498 https://www.taxtmi.com/highlights?id=102498 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI IGST import refund limitation commenced only after a prescribed mechanism existed, making United Nations agency claims timely. https://www.taxtmi.com/highlights?id=102497 https://www.taxtmi.com/highlights?id=102497 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Customs supervision charges cannot shift to cost recovery without an actual exclusive officer posting beyond regular staffing. https://www.taxtmi.com/highlights?id=102496 https://www.taxtmi.com/highlights?id=102496 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for customs classification. https://www.taxtmi.com/highlights?id=102495 https://www.taxtmi.com/highlights?id=102495 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued. https://www.taxtmi.com/highlights?id=102494 https://www.taxtmi.com/highlights?id=102494 Mon, 10 Aug 2026 13:20:05 +0530 Corporate Laws Highlights TaxLaws TaxTMI Foreign judgment presumption supports asset disclosure, while appellate review preserves reasonably exercised interlocutory discretion and maintains restraint directions. https://www.taxtmi.com/highlights?id=102493 https://www.taxtmi.com/highlights?id=102493 Mon, 10 Aug 2026 13:20:05 +0530 Corporate Laws Highlights TaxLaws TaxTMI Reasoned fraud classification requires disclosed application of mind, while adequate prior opportunity satisfies natural justice requirements. https://www.taxtmi.com/highlights?id=102492 https://www.taxtmi.com/highlights?id=102492 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws Highlights TaxTMI Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distribution. https://www.taxtmi.com/highlights?id=102491 https://www.taxtmi.com/highlights?id=102491 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws Highlights TaxTMI Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides remain unresolved. https://www.taxtmi.com/highlights?id=102490 https://www.taxtmi.com/highlights?id=102490 Mon, 10 Aug 2026 13:20:05 +0530 PMLA Highlights TaxLaws TaxTMI Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly recorded. https://www.taxtmi.com/highlights?id=102489 https://www.taxtmi.com/highlights?id=102489 Mon, 10 Aug 2026 13:20:05 +0530 Service Tax Highlights TaxLaws TaxTMI Original works valuation applies to showroom fit-outs, while forfeited purchase advances and fire-loss reimbursements are not taxable services. https://www.taxtmi.com/highlights?id=102488 https://www.taxtmi.com/highlights?id=102488 Mon, 10 Aug 2026 13:20:05 +0530 Service Tax Highlights TaxLaws TaxTMI Order under section 45(3)(b) of the Income Tax Act, 2025 read with Rule 35 of the Income Tax Rules, 2026 https://www.taxtmi.com/notifications?id=146517 https://www.taxtmi.com/notifications?id=146517 Mon, 10 Aug 2026 13:20:05 +0530 Income Tax Notifications TaxLaws TaxTMI No 10% Pre-Deposit for Penalty-Only GST Appeals Where SCN Preceded the 01.10.2025 Amendment https://www.taxtmi.com/article/detailed?id=17140 https://www.taxtmi.com/article/detailed?id=17140 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI JOINT REPAYMENT PLAN https://www.taxtmi.com/article/detailed?id=17139 https://www.taxtmi.com/article/detailed?id=17139 Mon, 10 Aug 2026 13:20:05 +0530 Corporate Laws Articles TaxLaws TaxTMI No 10% pre-deposit required on any Penalty-only order from SCN issued prior to October 01, 2025 https://www.taxtmi.com/article/detailed?id=17138 https://www.taxtmi.com/article/detailed?id=17138 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Corporate Guarantees Under GST - When Group Support Enters The Tax Net Part III (Concluding Part) - When Valuation Meets Compliance: The Practical GST Framework https://www.taxtmi.com/article/detailed?id=17137 https://www.taxtmi.com/article/detailed?id=17137 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI CORPORATE GUARANTEES UNDER GST - UNDERSTANDING THE LAW BEYOND THE GUARANTEE COMMISSION PART II - FROM TAXABILITY TO VALUATION: HOW SHOULD A CORPORATE GUARANTEE BE VALUED UNDER GST? https://www.taxtmi.com/article/detailed?id=17136 https://www.taxtmi.com/article/detailed?id=17136 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Corporate Guarantees Under GST - From Commercial Support To Taxability And Valuation Part I - Understanding the Transaction and Its Tax Foundations https://www.taxtmi.com/article/detailed?id=17135 https://www.taxtmi.com/article/detailed?id=17135 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI DGFT Introduces India's First Inventory-Based Cross-Border E-Commerce Export Framework: A Landmark Reform for Digital Exports https://www.taxtmi.com/article/detailed?id=17134 https://www.taxtmi.com/article/detailed?id=17134 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI No Input Tax Credit Without Actual Tax Remittance: Supreme Court Upholds the Constitutional Validity of Section 16(2)(c) of the CGST Act, 2017. https://www.taxtmi.com/article/detailed?id=17133 https://www.taxtmi.com/article/detailed?id=17133 Mon, 10 Aug 2026 13:20:05 +0530 GST Articles TaxLaws TaxTMI Grey Areas in Customs Foreign Trade Policy: Navigating the Fine Line Between Compliance and Commercial Reality. https://www.taxtmi.com/article/detailed?id=17132 https://www.taxtmi.com/article/detailed?id=17132 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI Behind the Border: Understanding Trade Regulations https://www.taxtmi.com/article/detailed?id=17131 https://www.taxtmi.com/article/detailed?id=17131 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI Avoid Costly Mistakes in International Trade https://www.taxtmi.com/article/detailed?id=17130 https://www.taxtmi.com/article/detailed?id=17130 Mon, 10 Aug 2026 13:20:05 +0530 Customs Articles TaxLaws TaxTMI Rupee settles with 5 paise gain at 95.17 against US dollar https://www.taxtmi.com/news?id=74193 https://www.taxtmi.com/news?id=74193 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Anti-dumping duty on Phthalic Anhydride imports from China and Korea continues following sunset review to prevent continued dumping. https://www.taxtmi.com/highlights?id=102487 https://www.taxtmi.com/highlights?id=102487 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Tariff rate quota applications under the India-UK trade agreement receive an extended online submission deadline for 2026. https://www.taxtmi.com/highlights?id=102486 https://www.taxtmi.com/highlights?id=102486 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validity period. https://www.taxtmi.com/highlights?id=102485 https://www.taxtmi.com/highlights?id=102485 Mon, 10 Aug 2026 13:20:05 +0530 Customs Highlights TaxLaws TaxTMI India weathered Hormuz disruption without fuel shortages: Puri https://www.taxtmi.com/news?id=74192 https://www.taxtmi.com/news?id=74192 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Implementation of MeitY Notification S.O. 4182(E) regarding extension of implementation timeline for compliance of IS 18112:2022 for Television Sets under the Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2021 https://www.taxtmi.com/circulars?id=70734 https://www.taxtmi.com/circulars?id=70734 Mon, 10 Aug 2026 13:20:05 +0530 Customs Circulars TaxLaws TaxTMI RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’ https://www.taxtmi.com/news?id=74191 https://www.taxtmi.com/news?id=74191 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, 2026” https://www.taxtmi.com/news?id=74190 https://www.taxtmi.com/news?id=74190 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI 87 Proposals Received under BHAVYA Scheme during First Round of Phase-I https://www.taxtmi.com/news?id=74189 https://www.taxtmi.com/news?id=74189 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026 https://www.taxtmi.com/news?id=74188 https://www.taxtmi.com/news?id=74188 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding Rs.20 Lakh Crore https://www.taxtmi.com/news?id=74187 https://www.taxtmi.com/news?id=74187 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI NEWS HIGHLIGHTS https://www.taxtmi.com/news?id=74186 https://www.taxtmi.com/news?id=74186 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI India's forex kitty swells by USD 10.5 bn to USD 692.87 bn https://www.taxtmi.com/news?id=74185 https://www.taxtmi.com/news?id=74185 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis https://www.taxtmi.com/news?id=74184 https://www.taxtmi.com/news?id=74184 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Institutional Transition of Implementing Agency from the Reserve Bank of India (RBI) to the Export-Import Bank of India (EXIM Bank) for the Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan https://www.taxtmi.com/circulars?id=70733 https://www.taxtmi.com/circulars?id=70733 Mon, 10 Aug 2026 13:20:05 +0530 Customs Circulars TaxLaws TaxTMI SBI Life and JK Bank partner to bring comprehensive life insurance solutions closer to families across India https://www.taxtmi.com/news?id=74183 https://www.taxtmi.com/news?id=74183 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI DRI intensifies vigil along India's North-Eastern Frontier https://www.taxtmi.com/news?id=74182 https://www.taxtmi.com/news?id=74182 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks https://www.taxtmi.com/news?id=74181 https://www.taxtmi.com/news?id=74181 Mon, 10 Aug 2026 13:20:05 +0530 TaxLaws News TaxTMI Issuance of Public Notice in respect of M/s. Sattva CFS and Logistics Pvt Ltd. CFS https://www.taxtmi.com/circulars?id=70731 https://www.taxtmi.com/circulars?id=70731 Mon, 10 Aug 2026 13:20:05 +0530 Customs Circulars TaxLaws TaxTMI Issuance of Public Notice in respect of M/s. All Cargo Terminals Ltd. CFS - Declaration of 'Customs Area' under Section 8(b) of the Customs Act, 1962 for handling Import and Export Cargo pertaining to M/s. Kamarajar Port, Ennore https://www.taxtmi.com/circulars?id=70730 https://www.taxtmi.com/circulars?id=70730 Mon, 10 Aug 2026 13:20:05 +0530 Customs Circulars TaxLaws TaxTMI TMI Updates - Newsletter dated: August 10, 2026 https://www.taxtmi.com/newsletter?id=08/10/2026 https://www.taxtmi.com/newsletter?id=08/10/2026 Daily Updates Tax