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, 07 Sep 2026 23:49:56 +0530 en-us webmaster@taxtmi.com editor@taxtmi.com 60 Inventory-based e-commerce exports are permitted for Indian-made goods, lifting B2C and inventory-model restrictions for qualifying exports. https://www.taxtmi.com/highlights?id=103485 https://www.taxtmi.com/highlights?id=103485 Mon, 07 Sep 2026 23:40:43 +0530 FEMA Highlights TaxLaws TaxTMI One-time Advance Authorisation to TRQ conversion for raw sugar receives an extended application window until 7 September 2026. https://www.taxtmi.com/highlights?id=103484 https://www.taxtmi.com/highlights?id=103484 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Customs assessment information portal centralises rulings and guidance to promote consistent classification, valuation, transparency and informed compliance nationwide. https://www.taxtmi.com/highlights?id=103483 https://www.taxtmi.com/highlights?id=103483 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI EMI scheme documentation rationalisation reduces application uploads while retaining financial certification and eligibility declarations for deferred customs duty. https://www.taxtmi.com/highlights?id=103482 https://www.taxtmi.com/highlights?id=103482 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Customs out-of-charge verification for regulated imports now requires category-specific licensing, labelling, quality, shelf-life and importer documentation. https://www.taxtmi.com/highlights?id=103481 https://www.taxtmi.com/highlights?id=103481 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Non-resident bank Rupee accounts: annual branch-list and temporary-overdraft reporting obligations are withdrawn with immediate effect. https://www.taxtmi.com/highlights?id=103480 https://www.taxtmi.com/highlights?id=103480 Mon, 07 Sep 2026 23:40:43 +0530 FEMA Highlights TaxLaws TaxTMI Expiry of a CGST prohibition order requires release of detained goods without affecting the underlying departmental investigation. https://www.taxtmi.com/highlights?id=103479 https://www.taxtmi.com/highlights?id=103479 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Composite show-cause notices spanning multiple financial years are jurisdictionally invalid, allowing writ review despite an alternative appellate remedy. https://www.taxtmi.com/highlights?id=103478 https://www.taxtmi.com/highlights?id=103478 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Inverted duty refunds cover higher-taxed packaging inputs for packaged tea, while rate-reduction guidance does not bar claims. https://www.taxtmi.com/highlights?id=103477 https://www.taxtmi.com/highlights?id=103477 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Inverted duty refunds include packaging inputs where administrative circulars cannot restrict statutory input tax credit entitlement. https://www.taxtmi.com/highlights?id=103476 https://www.taxtmi.com/highlights?id=103476 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Input tax credit mismatch requires transaction-level verification; demands must remain within show-cause notice and applicable verification periods. https://www.taxtmi.com/highlights?id=103475 https://www.taxtmi.com/highlights?id=103475 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Valuation reference used to extend assessment limitation was invalid where no genuine asset valuation inquiry was required. https://www.taxtmi.com/highlights?id=103474 https://www.taxtmi.com/highlights?id=103474 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Fraudulent GST registrations using misused PAN and Aadhaar credentials require stronger identity-verification safeguards and preventive measures. https://www.taxtmi.com/highlights?id=103473 https://www.taxtmi.com/highlights?id=103473 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Revised-return scrutiny requires a fresh statutory notice, while exempt-income and research deductions receive defined limits. https://www.taxtmi.com/highlights?id=103472 https://www.taxtmi.com/highlights?id=103472 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI ITAT territorial jurisdiction follows the Assessing Officer's location, requiring appeals and cross-objections only before the appropriate Bench. https://www.taxtmi.com/highlights?id=103471 https://www.taxtmi.com/highlights?id=103471 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Assessment Transfer Without Statutory Authority Nullifies Transferee Assessment and Consequential Penalty for Inaccurate Income Particulars https://www.taxtmi.com/highlights?id=103470 https://www.taxtmi.com/highlights?id=103470 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Corpus Donations and Charitable Accumulation: Cricket infrastructure grants and procedural fairness protect charitable income exemptions https://www.taxtmi.com/highlights?id=103469 https://www.taxtmi.com/highlights?id=103469 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Misreporting penalties require proven statutory circumstances; omitted interest income attracts under-reporting treatment absent evidence of deliberate misreporting. https://www.taxtmi.com/highlights?id=103468 https://www.taxtmi.com/highlights?id=103468 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Bona fide disclosed legal claims on slump-sale negative net worth do not constitute inaccurate particulars for penalty purposes. https://www.taxtmi.com/highlights?id=103467 https://www.taxtmi.com/highlights?id=103467 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Business Dependence Establishes Associated Enterprise Status; Domestic Tested Party and Fresh Regulatory Affairs Benchmarking Required https://www.taxtmi.com/highlights?id=103466 https://www.taxtmi.com/highlights?id=103466 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Trade discounts received by milk resale agents are explained income, preventing estimated additions as unexplained money. https://www.taxtmi.com/highlights?id=103465 https://www.taxtmi.com/highlights?id=103465 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Foreign withholding tax remains non-deductible where eligible for double-taxation relief, even if no Indian credit is usable. https://www.taxtmi.com/highlights?id=103464 https://www.taxtmi.com/highlights?id=103464 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Year-end expense provisions require independent TDS compliance despite tax disallowance, subject to vendor-level verification of withholding liability. https://www.taxtmi.com/highlights?id=103463 https://www.taxtmi.com/highlights?id=103463 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Reverse burden for foreign-marked gold requires traceable proof, while unlinked silver and cash cannot be confiscated. https://www.taxtmi.com/highlights?id=103462 https://www.taxtmi.com/highlights?id=103462 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Writ jurisdiction cannot order release of detained gold when alleged Customs notice breaches require resolving disputed facts. https://www.taxtmi.com/highlights?id=103461 https://www.taxtmi.com/highlights?id=103461 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Alternative statutory revision governs baggage confiscation disputes where notice waiver and document voluntariness require factual examination. https://www.taxtmi.com/highlights?id=103460 https://www.taxtmi.com/highlights?id=103460 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Clinical trial testing exemption covers sponsor-approved CRO services; employee bond forfeitures are not taxable training consideration. https://www.taxtmi.com/highlights?id=103459 https://www.taxtmi.com/highlights?id=103459 Mon, 07 Sep 2026 23:40:43 +0530 Service Tax Highlights TaxLaws TaxTMI Reassessment-Based Export Duty Refund Limitation Starts When Excess Payment Becomes Ascertainable, With Interest Following the Statutory Refund Period https://www.taxtmi.com/highlights?id=103458 https://www.taxtmi.com/highlights?id=103458 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Customs officer appointment validates DRI recovery notices while penalties stand for admitted participation in prohibited-goods smuggling conspiracy. https://www.taxtmi.com/highlights?id=103457 https://www.taxtmi.com/highlights?id=103457 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Extended limitation fails where departmental knowledge defeats suppression, while pile-fabric classification stands and exemption claims require merits review. https://www.taxtmi.com/highlights?id=103456 https://www.taxtmi.com/highlights?id=103456 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Restricted second-hand goods remain redeemable when absolute confiscation lacks specific reasons, and penalties must follow the applicable import provision. https://www.taxtmi.com/highlights?id=103455 https://www.taxtmi.com/highlights?id=103455 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI Section 213(b) investigation safeguards require recorded satisfaction and prior hearing before agencies are asked for tracking information. https://www.taxtmi.com/highlights?id=103454 https://www.taxtmi.com/highlights?id=103454 Mon, 07 Sep 2026 23:40:43 +0530 Corporate Laws Highlights TaxLaws TaxTMI Going-concern liquidation sales support consequential implementation reliefs but cannot override auction terms, statutory compliance, or ungranted contractual concessions. https://www.taxtmi.com/highlights?id=103453 https://www.taxtmi.com/highlights?id=103453 Mon, 07 Sep 2026 23:40:43 +0530 TaxLaws Highlights TaxTMI Anticipatory bail in money-laundering matters requires scrutiny of arrest necessity and is refused where prima facie involvement exists. https://www.taxtmi.com/highlights?id=103452 https://www.taxtmi.com/highlights?id=103452 Mon, 07 Sep 2026 23:40:43 +0530 PMLA Highlights TaxLaws TaxTMI Equivalent-value attachment requires an established money trail and a genuine risk of frustrating confiscation proceedings. https://www.taxtmi.com/highlights?id=103451 https://www.taxtmi.com/highlights?id=103451 Mon, 07 Sep 2026 23:40:43 +0530 PMLA Highlights TaxLaws TaxTMI Retention of seized documents depends on prosecution reliance, with release required where evidentiary necessity is absent. https://www.taxtmi.com/highlights?id=103450 https://www.taxtmi.com/highlights?id=103450 Mon, 07 Sep 2026 23:40:43 +0530 PMLA Highlights TaxLaws TaxTMI Penalty for dealing in confiscable goods requires proof of knowing involvement and a complete evidentiary chain. https://www.taxtmi.com/highlights?id=103449 https://www.taxtmi.com/highlights?id=103449 Mon, 07 Sep 2026 23:40:43 +0530 Excise Highlights TaxLaws TaxTMI Alternate statutory remedy governs GST assessment challenge, with statutory appeal preserved and limitation objection barred for the permitted filing period. https://www.taxtmi.com/highlights?id=103448 https://www.taxtmi.com/highlights?id=103448 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Blocked input tax credit cannot satisfy GST appeal pre-deposit while credit restrictions continue, preserving appellate access after corrections. https://www.taxtmi.com/highlights?id=103447 https://www.taxtmi.com/highlights?id=103447 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Statutory appellate remedy before a functional GST Tribunal displaces writ proceedings while preserving limitation protection for prior litigation. https://www.taxtmi.com/highlights?id=103446 https://www.taxtmi.com/highlights?id=103446 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Post-decisional hearing for blocked electronic credit ledgers requires reasoned review of disputed input tax credit claims https://www.taxtmi.com/highlights?id=103445 https://www.taxtmi.com/highlights?id=103445 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Blocked input tax credit cannot fund an appellate pre-deposit while a valid electronic credit ledger restriction continues. https://www.taxtmi.com/highlights?id=103444 https://www.taxtmi.com/highlights?id=103444 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Electronic credit ledger blocking remains permissible for determined GST recovery despite an interim stay on debiting available credit. https://www.taxtmi.com/highlights?id=103443 https://www.taxtmi.com/highlights?id=103443 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Interim protection from arrest allowed GST investigation questioning to proceed while requiring appearance before the Investigating Officer. https://www.taxtmi.com/highlights?id=103442 https://www.taxtmi.com/highlights?id=103442 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI GST rectification for patent errors cannot reopen ineligible input tax credit findings; challenges to the original determination remain available. https://www.taxtmi.com/highlights?id=103441 https://www.taxtmi.com/highlights?id=103441 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Input tax credit apportionment rectification under Section 161 requires correction of SOP-related mistakes by the proper officer. https://www.taxtmi.com/highlights?id=103440 https://www.taxtmi.com/highlights?id=103440 Mon, 07 Sep 2026 23:40:43 +0530 GST Highlights TaxLaws TaxTMI Condonation of delay in income-tax appeals permits registration where bona fide departmental processing establishes sufficient cause. https://www.taxtmi.com/highlights?id=103439 https://www.taxtmi.com/highlights?id=103439 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Priority of registered security interests prevails over unproclaimed, unregistered Income Tax attachments on secured property. https://www.taxtmi.com/highlights?id=103438 https://www.taxtmi.com/highlights?id=103438 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI Satisfaction note timing under section 153C invalidates delayed proceedings against persons other than those searched https://www.taxtmi.com/highlights?id=103437 https://www.taxtmi.com/highlights?id=103437 Mon, 07 Sep 2026 23:40:43 +0530 Income Tax Highlights TaxLaws TaxTMI AI-generated fake precedents vitiate penalty adjudication, requiring fresh determination by an independent officer without unreliable legal material. https://www.taxtmi.com/highlights?id=103436 https://www.taxtmi.com/highlights?id=103436 Mon, 07 Sep 2026 23:40:43 +0530 Customs Highlights TaxLaws TaxTMI TMI Updates - Newsletter dated: September 07, 2026 https://www.taxtmi.com/newsletter?id=09/07/2026 https://www.taxtmi.com/newsletter?id=09/07/2026 Daily Updates Tax