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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. Wed, 02 Sep 2026 23:01:42 +0530 en-us webmaster@taxtmi.com editor@taxtmi.com 60 After 35 years, India's sovereign rating upgraded to 'A-' by JCR on solid growth, resilient financial system https://www.taxtmi.com/news?id=74600 https://www.taxtmi.com/news?id=74600 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Rupee rises 22 paise to close at 94.73 against US dollar https://www.taxtmi.com/news?id=74599 https://www.taxtmi.com/news?id=74599 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI India draws record USD 127 bn forex deposit in special drive https://www.taxtmi.com/news?id=74598 https://www.taxtmi.com/news?id=74598 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Road and Infrastructure Cess on exported petrol and diesel is revised to a uniform per-litre rate. https://www.taxtmi.com/highlights?id=103373 https://www.taxtmi.com/highlights?id=103373 Wed, 02 Sep 2026 23:01:42 +0530 Excise Highlights TaxLaws TaxTMI Seeks to amend Notification No. 11/2026-Central Excise, dated the 26th March, 2026 - rates of Road and Infrastructure Cess for petrol and diesel, when cleared for exports https://www.taxtmi.com/notifications?id=146782 https://www.taxtmi.com/notifications?id=146782 Wed, 02 Sep 2026 23:01:42 +0530 Excise Notifications TaxLaws TaxTMI Seeks to amend Notification No. 08/2026-Central Excise, dated the 26th March, 2026 - effective rate of Special Additional Excise Duty on Aviation Turbine Fuel when cleared for exports https://www.taxtmi.com/notifications?id=146781 https://www.taxtmi.com/notifications?id=146781 Wed, 02 Sep 2026 23:01:42 +0530 Excise Notifications TaxLaws TaxTMI Special Additional Excise Duty on exported Aviation Turbine Fuel is revised through a substituted effective duty rate. https://www.taxtmi.com/highlights?id=103372 https://www.taxtmi.com/highlights?id=103372 Wed, 02 Sep 2026 23:01:42 +0530 Excise Highlights TaxLaws TaxTMI Central excise rate amendment substitutes the serial-number-one table entry with a per-litre rate from Gazette publication. https://www.taxtmi.com/highlights?id=103371 https://www.taxtmi.com/highlights?id=103371 Wed, 02 Sep 2026 23:01:42 +0530 Excise Highlights TaxLaws TaxTMI Tariff value revision sets customs valuation benchmarks for edible oils, brass scrap, gold, silver and areca nut imports. https://www.taxtmi.com/highlights?id=103370 https://www.taxtmi.com/highlights?id=103370 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI Taxpayer confidentiality restricts external AI use while requiring officers to verify outputs and independently decide quasi-judicial matters. https://www.taxtmi.com/highlights?id=103369 https://www.taxtmi.com/highlights?id=103369 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority. https://www.taxtmi.com/highlights?id=103368 https://www.taxtmi.com/highlights?id=103368 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI Pending statutory filings under CCFS-2026 may be completed until 15 September 2026, with all other scheme conditions unchanged. https://www.taxtmi.com/highlights?id=103367 https://www.taxtmi.com/highlights?id=103367 Wed, 02 Sep 2026 23:01:42 +0530 Corporate Laws Highlights TaxLaws TaxTMI Banks mobilise USD 127.23 billion in deposits from Indian diaspora: RBI https://www.taxtmi.com/news?id=74597 https://www.taxtmi.com/news?id=74597 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI CBI Arrests CGST Additional Commissioner and Two others in Rs. 40 Lakh Bribery Case in Raigad, Maharashtra https://www.taxtmi.com/news?id=74596 https://www.taxtmi.com/news?id=74596 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Haryana: SGST collections grow 29 pc in first 5 months of 2026-27 https://www.taxtmi.com/news?id=74595 https://www.taxtmi.com/news?id=74595 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years https://www.taxtmi.com/news?id=74594 https://www.taxtmi.com/news?id=74594 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI RTI seeks Aadhaar date-of-birth changes after pre-poll Bihar pension hike; UIDAI says no such data https://www.taxtmi.com/news?id=74593 https://www.taxtmi.com/news?id=74593 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI HIGHLIGHTS https://www.taxtmi.com/news?id=74592 https://www.taxtmi.com/news?id=74592 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI IC Electricals Secures Approx. ?6 Crore Railway Orders and ?1 Crore Export Order https://www.taxtmi.com/news?id=74591 https://www.taxtmi.com/news?id=74591 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Additional Information related to GDP Estimates Received After Release of Q1 Estimates of FY 2026-27 https://www.taxtmi.com/news?id=74590 https://www.taxtmi.com/news?id=74590 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Union Minister of Commerce Industry Shri Piyush Goyal Chairs CEO Roundtable on Ease of Doing Business for Scaling India’s Data Centre Ecosystem https://www.taxtmi.com/news?id=74589 https://www.taxtmi.com/news?id=74589 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI India–Afghanistan Joint Working Group on Trade Holds Virtual Meeting; Reviews Measures to Strengthen Bilateral Trade and Economic Cooperation https://www.taxtmi.com/news?id=74588 https://www.taxtmi.com/news?id=74588 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Modalities for Application and Allocation of Balance Quantity under TRQ Scheme for Import of 10 Lakh MT of Raw Sugar https://www.taxtmi.com/circulars?id=71121 https://www.taxtmi.com/circulars?id=71121 Wed, 02 Sep 2026 23:01:42 +0530 Customs Circulars TaxLaws TaxTMI PM Surya Ghar Yojana 2026: How to Get Rs 78,000 Solar Subsidy Cut Your Electricity Bill https://www.taxtmi.com/news?id=74587 https://www.taxtmi.com/news?id=74587 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Japan's JCR upgrades India's sovereign rating to 'A-', cites solid growth, improved financial system https://www.taxtmi.com/news?id=74586 https://www.taxtmi.com/news?id=74586 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI In personal insolvency case before NCLAT, Subhash Chandra opposes formation of 5-member NCLT bench https://www.taxtmi.com/news?id=74585 https://www.taxtmi.com/news?id=74585 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI West Bengal Finance Act, 2026. https://www.taxtmi.com/notifications?id=146788 https://www.taxtmi.com/notifications?id=146788 Wed, 02 Sep 2026 23:01:42 +0530 GST Notifications TaxLaws TaxTMI GoCredit Launches Free Loan App Checker to Verify If a Lending App Is Real, Fake or RBI Registered https://www.taxtmi.com/news?id=74584 https://www.taxtmi.com/news?id=74584 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Sea Cargo Manifest and Transshipment (Third Amendment) Regulations, 2026 https://www.taxtmi.com/notifications?id=146784 https://www.taxtmi.com/notifications?id=146784 Wed, 02 Sep 2026 23:01:42 +0530 Customs Notifications TaxLaws TaxTMI Seeks to amend Notification No. 06/2026-Central Excise dated 26.03.2026 https://www.taxtmi.com/notifications?id=146780 https://www.taxtmi.com/notifications?id=146780 Wed, 02 Sep 2026 23:01:42 +0530 Excise Notifications TaxLaws TaxTMI Can GST Authorities Demand Full ERP/Tally Backup During Audit u/s 65 ? /forum/issue?id=121097 /forum/issue?id=121097 Wed, 02 Sep 2026 23:01:42 +0530 GST Discussion-Forum TaxLaws TaxTMI Implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018 https://www.taxtmi.com/circulars?id=71106 https://www.taxtmi.com/circulars?id=71106 Wed, 02 Sep 2026 23:01:42 +0530 Customs Circulars TaxLaws TaxTMI Appointment of Common Adjudicating Authority in the case of M/s. Akwel Automative Pune India Pvt. Ltd. (IEC: 3105015850) – Consolidated Adjudication of Multiple Show Cause Notices arising from SVB Investigation Report No. 198/AC/SVB/SKB/2022-23 dated 20.12.2022 https://www.taxtmi.com/notifications?id=146786 https://www.taxtmi.com/notifications?id=146786 Wed, 02 Sep 2026 23:01:42 +0530 Customs Notifications TaxLaws TaxTMI Hon'ble Supreme Court judgment dated 06.08.2026 in the matter of M/s Goodluck India Limited Anr. v. Union of India Ors. in respect of prospective omission of rule 96(10) of the CGST Rules, 2017 https://www.taxtmi.com/circulars?id=71104 https://www.taxtmi.com/circulars?id=71104 Wed, 02 Sep 2026 23:01:42 +0530 GST Circulars TaxLaws TaxTMI Seeks to notify different dates on which the different provisions of the West Bengal Finance Act, 2026 shall come into force. https://www.taxtmi.com/notifications?id=146785 https://www.taxtmi.com/notifications?id=146785 Wed, 02 Sep 2026 23:01:42 +0530 GST Notifications TaxLaws TaxTMI Rupee falls 2 paise to 94.97 against US dollar in early trade https://www.taxtmi.com/news?id=74583 https://www.taxtmi.com/news?id=74583 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Senior bureaucrats attend IICA’s ‘weekend wisdom’ program initiave https://www.taxtmi.com/news?id=74582 https://www.taxtmi.com/news?id=74582 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI NLMC to Facilitate E-Auction of 459 RINL Land Parcels in Visakhapatnam https://www.taxtmi.com/news?id=74581 https://www.taxtmi.com/news?id=74581 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI CCI approves acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd. and related transactions https://www.taxtmi.com/news?id=74580 https://www.taxtmi.com/news?id=74580 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI CCI approves acquisition of up to 100% equity shareholding of Apollo Fertility Centre (AFCPL) and Apollo Specialty Hospitals (ASHPL) by Kids Clinic India Ltd. (KCIL) and related transactions https://www.taxtmi.com/news?id=74579 https://www.taxtmi.com/news?id=74579 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Section 112 (2) of the CGST Act 2017 is fine and it is discretionary. https://www.taxtmi.com/article/detailed?id=17334 https://www.taxtmi.com/article/detailed?id=17334 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI GST Registration Cancellation - Nil Turnover Is Not Proof of Discontinuance of Business https://www.taxtmi.com/article/detailed?id=17333 https://www.taxtmi.com/article/detailed?id=17333 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI MOVEMENT OF GOODS BETWEEN SEZ AND BONDED WAREHOUSE UNDER THE CUSTOMS AUTOMATED SYSTEM - A PRACTICAL GUIDE TO THE ICEGATE ADVISORY DATED 18 MARCH 2026 https://www.taxtmi.com/article/detailed?id=17332 https://www.taxtmi.com/article/detailed?id=17332 Wed, 02 Sep 2026 23:01:42 +0530 Customs Articles TaxLaws TaxTMI VICARIOUS LIABILITY OF FORMER OFFICERS OF THE COMPANY UNDER THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999 https://www.taxtmi.com/article/detailed?id=17331 https://www.taxtmi.com/article/detailed?id=17331 Wed, 02 Sep 2026 23:01:42 +0530 FEMA Articles TaxLaws TaxTMI Extended Limitation - Serious Allegations Demand Solid Foundations https://www.taxtmi.com/article/detailed?id=17330 https://www.taxtmi.com/article/detailed?id=17330 Wed, 02 Sep 2026 23:01:42 +0530 Service Tax Articles TaxLaws TaxTMI Cross-examination in GST penalty proceedings protects natural justice where witness statements support the proposed penalty. https://www.taxtmi.com/highlights?id=103348 https://www.taxtmi.com/highlights?id=103348 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Alternative statutory remedy governs GST adjudication challenges where evidence and limitation objections require appellate review. https://www.taxtmi.com/highlights?id=103347 https://www.taxtmi.com/highlights?id=103347 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Opportunity to answer a GST show-cause notice required restoration of demand proceedings for fresh adjudication. https://www.taxtmi.com/highlights?id=103346 https://www.taxtmi.com/highlights?id=103346 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI GST audit findings in Form GST ADT-02 communicate observations but cannot independently authorise tax recovery proceedings. https://www.taxtmi.com/highlights?id=103345 https://www.taxtmi.com/highlights?id=103345 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Reasoned Decisions in Kara Samadhana applications require disclosed grounds and a hearing before adverse action. https://www.taxtmi.com/highlights?id=103344 https://www.taxtmi.com/highlights?id=103344 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Statutory limits on customs bank-account attachments bar continued debit freezes after investigation, adjudication, and expiry of permitted duration. https://www.taxtmi.com/highlights?id=103343 https://www.taxtmi.com/highlights?id=103343 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Natural justice in GST rectification requires consideration of submissions and reasonable hearing before rejection and fresh determination. https://www.taxtmi.com/highlights?id=103342 https://www.taxtmi.com/highlights?id=103342 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI GST detention penalties for invoiced goods must proceed against the owner, not under unregistered-person provisions after registration restoration. https://www.taxtmi.com/highlights?id=103341 https://www.taxtmi.com/highlights?id=103341 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI GST appellate delay: lack of control justified condonation and merits review, while alleged duplicate recovery required verification and refund. https://www.taxtmi.com/highlights?id=103340 https://www.taxtmi.com/highlights?id=103340 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Authentication of electronic GST notices is mandatory; unsigned portal documents cannot sustain adjudication or recovery without effective hearing. https://www.taxtmi.com/highlights?id=103339 https://www.taxtmi.com/highlights?id=103339 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI GST appellate adjournments require sufficient cause; the three-adjournment limit is a ceiling, not an automatic litigant entitlement. https://www.taxtmi.com/highlights?id=103338 https://www.taxtmi.com/highlights?id=103338 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI GSTR-2A mismatches require invoice-wise credit verification, while adverse GST adjudication requires a mandatory personal hearing. https://www.taxtmi.com/highlights?id=103337 https://www.taxtmi.com/highlights?id=103337 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Input tax credit misclassification across GST heads requires aggregate ledger verification before any excess-credit demand can stand. https://www.taxtmi.com/highlights?id=103336 https://www.taxtmi.com/highlights?id=103336 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Reassessment Notices Issued to Deceased Assessees Are Jurisdictionally Invalid and Require Proceedings Against Legal Representatives https://www.taxtmi.com/highlights?id=103335 https://www.taxtmi.com/highlights?id=103335 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Penalty immunity for misreported income remains unavailable despite objections to notice, hearing, and decision delay. https://www.taxtmi.com/highlights?id=103334 https://www.taxtmi.com/highlights?id=103334 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Land-acquisition compensation remains outside income-tax withholding, enabling refund of tax deducted after prescribed compliance is completed. https://www.taxtmi.com/highlights?id=103333 https://www.taxtmi.com/highlights?id=103333 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Retention of seized cash ends when the searched person's assessment closes, requiring release after tax adjustment. https://www.taxtmi.com/highlights?id=103332 https://www.taxtmi.com/highlights?id=103332 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Leave-encashment exemption under the enhanced limit may be pursued through revised returns, with eligibility questions left open. https://www.taxtmi.com/highlights?id=103331 https://www.taxtmi.com/highlights?id=103331 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Genuine charitable activities require a trust's own educational work, not merely rental income from leased school premises. https://www.taxtmi.com/highlights?id=103330 https://www.taxtmi.com/highlights?id=103330 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Best judgment assessment requires rational, business-specific profit estimation; online share-trading addition was deleted for unsupported guesswork. https://www.taxtmi.com/highlights?id=103329 https://www.taxtmi.com/highlights?id=103329 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or renewal refusal. https://www.taxtmi.com/highlights?id=103328 https://www.taxtmi.com/highlights?id=103328 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudication. https://www.taxtmi.com/highlights?id=103327 https://www.taxtmi.com/highlights?id=103327 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment on fresh bogus-transaction information survives where original scrutiny omitted purchases and sales; income is estimated on gross profit. https://www.taxtmi.com/highlights?id=103326 https://www.taxtmi.com/highlights?id=103326 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-reporting. https://www.taxtmi.com/highlights?id=103325 https://www.taxtmi.com/highlights?id=103325 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Section 263 limitation barred revision of software receipts assessment, which was independently upheld as non-erroneous royalty treatment. https://www.taxtmi.com/highlights?id=103324 https://www.taxtmi.com/highlights?id=103324 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Section 80P deduction covers member-credit income and bank interest from surplus lending funds of Souharda Sahakaris. https://www.taxtmi.com/highlights?id=103323 https://www.taxtmi.com/highlights?id=103323 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Commercial expediency supports interest deductions for strategic group investments, while sufficient interest-free funds defeat borrowing-cost disallowances. https://www.taxtmi.com/highlights?id=103322 https://www.taxtmi.com/highlights?id=103322 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Functional comparability excludes branded, high-end and outsourced providers from BPO transfer-pricing benchmarking, sustaining adjustment deletion. https://www.taxtmi.com/highlights?id=103321 https://www.taxtmi.com/highlights?id=103321 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded. https://www.taxtmi.com/highlights?id=103320 https://www.taxtmi.com/highlights?id=103320 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional interest fail. https://www.taxtmi.com/highlights?id=103319 https://www.taxtmi.com/highlights?id=103319 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expansion capacity. https://www.taxtmi.com/highlights?id=103318 https://www.taxtmi.com/highlights?id=103318 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Cost of acquisition includes one-time developer charges directly linked to acquiring residential property and its enduring amenities. https://www.taxtmi.com/highlights?id=103317 https://www.taxtmi.com/highlights?id=103317 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Beneficial treaty choice under section 90(2) permits capital-loss set-off and carry-forward despite India-Mauritius DTAA treatment. https://www.taxtmi.com/highlights?id=103316 https://www.taxtmi.com/highlights?id=103316 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Welfare-fund ceilings, absent exempt income, and customer-bill recoveries determine deductibility of employment-related business expenditure. https://www.taxtmi.com/highlights?id=103315 https://www.taxtmi.com/highlights?id=103315 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI FSSAI food-conformity clearance limits customs reclassification and supports release without bank guarantee, pending fresh certification before sale. https://www.taxtmi.com/highlights?id=103314 https://www.taxtmi.com/highlights?id=103314 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication. https://www.taxtmi.com/highlights?id=103313 https://www.taxtmi.com/highlights?id=103313 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI Interest on refunded investigation deposits runs from voluntary payment until refund, despite prompt refund-claim sanction. https://www.taxtmi.com/highlights?id=103312 https://www.taxtmi.com/highlights?id=103312 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI AIFTA origin verification failures prevent preferential tariff denial and extended limitation for alleged certificate fraud. https://www.taxtmi.com/highlights?id=103311 https://www.taxtmi.com/highlights?id=103311 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI Limitation for official liquidator claims extends through excluded winding-up time, preserving claims filed within the aggregate statutory period. https://www.taxtmi.com/highlights?id=103310 https://www.taxtmi.com/highlights?id=103310 Wed, 02 Sep 2026 23:01:42 +0530 Corporate Laws Highlights TaxLaws TaxTMI Competing open-offer timelines require announcement within fifteen working days; offer letters cannot reset the statutory clock. https://www.taxtmi.com/highlights?id=103309 https://www.taxtmi.com/highlights?id=103309 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws Highlights TaxTMI IBC moratorium does not shield directors or authorised signatories from cheque-dishonour prosecution for pre-moratorium acts. https://www.taxtmi.com/highlights?id=103308 https://www.taxtmi.com/highlights?id=103308 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws Highlights TaxTMI Resolution-plan finality extinguishes unsubmitted statutory dues and prevents recovery of pre-approval electricity-duty and mining demands. https://www.taxtmi.com/highlights?id=103307 https://www.taxtmi.com/highlights?id=103307 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws Highlights TaxTMI Substitution of attached property by fixed deposit remains discretionary, while statutory PMLA appeals ordinarily preclude writ intervention. https://www.taxtmi.com/highlights?id=103306 https://www.taxtmi.com/highlights?id=103306 Wed, 02 Sep 2026 23:01:42 +0530 PMLA Highlights TaxLaws TaxTMI Attachment of proceeds of crime can reach equivalent-value property, pre-offence assets, and property held by persons outside the predicate offence. https://www.taxtmi.com/highlights?id=103305 https://www.taxtmi.com/highlights?id=103305 Wed, 02 Sep 2026 23:01:42 +0530 PMLA Highlights TaxLaws TaxTMI Provisional attachment of officials' properties sustained where evidence linked them to diverted proceeds of unlawful investment schemes. https://www.taxtmi.com/highlights?id=103304 https://www.taxtmi.com/highlights?id=103304 Wed, 02 Sep 2026 23:01:42 +0530 PMLA Highlights TaxLaws TaxTMI Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on remand. https://www.taxtmi.com/highlights?id=103303 https://www.taxtmi.com/highlights?id=103303 Wed, 02 Sep 2026 23:01:42 +0530 Service Tax Highlights TaxLaws TaxTMI Excise assessment at removal protects PDS kerosene from duty claims on post-clearance pipeline interface formation. https://www.taxtmi.com/highlights?id=103302 https://www.taxtmi.com/highlights?id=103302 Wed, 02 Sep 2026 23:01:42 +0530 Excise Highlights TaxLaws TaxTMI Unauthorised occupation status cannot arise solely from unresolved lease transfer and prior dues after a secured creditor auction. https://www.taxtmi.com/highlights?id=103301 https://www.taxtmi.com/highlights?id=103301 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws Highlights TaxTMI ED arrests businessman in DMF-linked money laundering case https://www.taxtmi.com/news?id=74578 https://www.taxtmi.com/news?id=74578 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Rupee gains 27 paise to close at 94.95 against US dollar https://www.taxtmi.com/news?id=74577 https://www.taxtmi.com/news?id=74577 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI India's CAD widens to USD 4.2 bn in Q1 amid West Asia conflict: RBI data https://www.taxtmi.com/news?id=74576 https://www.taxtmi.com/news?id=74576 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Andhra commercial tax collections rise by 11 per cent in August to Rs 4,983 cr https://www.taxtmi.com/news?id=74575 https://www.taxtmi.com/news?id=74575 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Use of Artificial Intelligence (Al) tools and other third-party online platforms by officers in the discharge of official duties - Confidentiality of taxpayer information under Sections 152, 158 and 158A of the TGST Act, 2017 - Obligations under the Digital Personal Data Protection Act, 2023 - Application of mind in quasi-judicial proceedings - Personal responsibility and liability of the officer https://www.taxtmi.com/circulars?id=71101 https://www.taxtmi.com/circulars?id=71101 Wed, 02 Sep 2026 23:01:42 +0530 GST Circulars TaxLaws TaxTMI Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applications. https://www.taxtmi.com/highlights?id=103300 https://www.taxtmi.com/highlights?id=103300 Wed, 02 Sep 2026 23:01:42 +0530 Customs Highlights TaxLaws TaxTMI Govt hikes windfall gains tax on petrol, diesel exports; cuts levy on ATF https://www.taxtmi.com/news?id=74574 https://www.taxtmi.com/news?id=74574 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI DGFT Enables Automated Issuance of Free Sale and Commerce Certificates to Promote Ease of Doing Business https://www.taxtmi.com/news?id=74573 https://www.taxtmi.com/news?id=74573 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Bank unions to go on nationwide strike on Sep 11 over 5-day banking, other issues https://www.taxtmi.com/news?id=74572 https://www.taxtmi.com/news?id=74572 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Stock markets close marginally lower amid higher oil prices, fresh US-Iran tensions https://www.taxtmi.com/news?id=74571 https://www.taxtmi.com/news?id=74571 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Statutory GST appellate limitation cannot ordinarily be bypassed through writ jurisdiction after it has expired following unexplained delay. https://www.taxtmi.com/highlights?id=103299 https://www.taxtmi.com/highlights?id=103299 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Gross and Net GST revenue collections for the month of August, 2026 https://www.taxtmi.com/news?id=74570 https://www.taxtmi.com/news?id=74570 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI A Quarter-Century of Trade. One Unbroken Connection. https://www.taxtmi.com/news?id=74569 https://www.taxtmi.com/news?id=74569 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI NCLT bars Subhash Chandra from alienating assets, stays Rs 6.5-cr repayment plan https://www.taxtmi.com/news?id=74568 https://www.taxtmi.com/news?id=74568 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Rupee gains 28 paise to close at 94.94 against US dollar https://www.taxtmi.com/news?id=74567 https://www.taxtmi.com/news?id=74567 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI When Limitation Ends the Appeal but Not the Remedy https://www.taxtmi.com/article/detailed?id=17328 https://www.taxtmi.com/article/detailed?id=17328 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI ED raids in Chhattisgarh PSC 'scam' case; Baghel's ex-PA raided https://www.taxtmi.com/news?id=74566 https://www.taxtmi.com/news?id=74566 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI NCLT bars Subhash Chandra from selling assets as lenders challenge Rs 6.5 cr settlement https://www.taxtmi.com/news?id=74565 https://www.taxtmi.com/news?id=74565 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI HIGHLIGHTS https://www.taxtmi.com/news?id=74564 https://www.taxtmi.com/news?id=74564 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Loan waiver scheme: Special Aadhaar verification process for farmers in Latur https://www.taxtmi.com/news?id=74563 https://www.taxtmi.com/news?id=74563 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Gross GST mop-up grows 15 pc to Rs 2 lakh cr in Aug https://www.taxtmi.com/news?id=74562 https://www.taxtmi.com/news?id=74562 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI NCLT issues notices in Subhash Chandra insolvency matter, directs not to dispose of property https://www.taxtmi.com/news?id=74561 https://www.taxtmi.com/news?id=74561 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Treatment of ITC on Power Plant on Discontinuation of Taxable Manufacturing Activity /forum/issue?id=121096 /forum/issue?id=121096 Wed, 02 Sep 2026 23:01:42 +0530 GST Discussion-Forum TaxLaws TaxTMI Markets drift lower in early trade amid higher oil prices, fresh US-Iran tensions https://www.taxtmi.com/news?id=74560 https://www.taxtmi.com/news?id=74560 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Amendment to the Standard Operating Procedure prescribed under Public Notice No. 114/2018 for movement of domestic/customs-cleared cargo and EXIM cargo between JNPT/Port Terminals and hinterland ICDs/CFSs https://www.taxtmi.com/circulars?id=71070 https://www.taxtmi.com/circulars?id=71070 Wed, 02 Sep 2026 23:01:42 +0530 Customs Circulars TaxLaws TaxTMI Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver https://www.taxtmi.com/notifications?id=146778 https://www.taxtmi.com/notifications?id=146778 Wed, 02 Sep 2026 23:01:42 +0530 Customs Notifications TaxLaws TaxTMI ED raids in Chhattisgarh PSC 'scam' case; ex CM Baghel's PA raided https://www.taxtmi.com/news?id=74559 https://www.taxtmi.com/news?id=74559 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI ITR filing for AY27 touches record 7.8 cr https://www.taxtmi.com/news?id=74558 https://www.taxtmi.com/news?id=74558 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI DRI seizes over 42 kg foreign-origin gold worth more than RS. 65 crore in crackdown on gold smuggling https://www.taxtmi.com/news?id=74557 https://www.taxtmi.com/news?id=74557 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI MoSPI signs MoU with Thapar Institute of Engineering Technology, Punjab for undertaking a Research Study https://www.taxtmi.com/news?id=74556 https://www.taxtmi.com/news?id=74556 Wed, 02 Sep 2026 23:01:42 +0530 TaxLaws News TaxTMI Extension of Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) up to 15th September 2026 https://www.taxtmi.com/circulars?id=71068 https://www.taxtmi.com/circulars?id=71068 Wed, 02 Sep 2026 23:01:42 +0530 Corporate Laws Circulars TaxLaws TaxTMI The danger in sole dependence on artificial intelligence without verifying the facts !. https://www.taxtmi.com/article/detailed?id=17329 https://www.taxtmi.com/article/detailed?id=17329 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI Writs still work even under GSTAT Regime in GST Laws. https://www.taxtmi.com/article/detailed?id=17327 https://www.taxtmi.com/article/detailed?id=17327 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI TOLERANCE OR RELAXARION NOT CLAIMED IN ITR, NOT ALLOWED IN INTIMATION BY CPC, AND REVISION BY CIT U.S. 264 ALLOWED BY HIGH COURT IN W.P. BY WAY OF REMAND BUT DENIED BY SC - needs reconsideration. https://www.taxtmi.com/article/detailed?id=17326 https://www.taxtmi.com/article/detailed?id=17326 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Articles TaxLaws TaxTMI Partial Success in GST Appeal - Refund Must Follow the Dropped Demand https://www.taxtmi.com/article/detailed?id=17325 https://www.taxtmi.com/article/detailed?id=17325 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI "We're registered with CGST, so SGST can't summon us." The Supreme Court has closed that argument https://www.taxtmi.com/article/detailed?id=17324 https://www.taxtmi.com/article/detailed?id=17324 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI Statements Recorded Under GST - From Investigation to Evidence https://www.taxtmi.com/article/detailed?id=17323 https://www.taxtmi.com/article/detailed?id=17323 Wed, 02 Sep 2026 23:01:42 +0530 GST Articles TaxLaws TaxTMI Omitted export-refund restriction cannot govern pending integrated-tax refund proceedings without an express saving or sunset clause. https://www.taxtmi.com/highlights?id=103298 https://www.taxtmi.com/highlights?id=103298 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Arrest safeguards under the CGST Act support regular bail where recorded reasons and statutory thresholds are absent. https://www.taxtmi.com/highlights?id=103297 https://www.taxtmi.com/highlights?id=103297 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Rule 86A credit restrictions require recorded written reasons; non-compliant ledger blocking may trigger compensation liability. https://www.taxtmi.com/highlights?id=103296 https://www.taxtmi.com/highlights?id=103296 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationships. https://www.taxtmi.com/highlights?id=103295 https://www.taxtmi.com/highlights?id=103295 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Consolidated show-cause notices may cover multiple years, but appellate authorities must provide a meaningful hearing on merits. https://www.taxtmi.com/highlights?id=103294 https://www.taxtmi.com/highlights?id=103294 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Statutory appellate remedy bars delayed writ challenge to GST registration cancellation absent exceptional circumstances, preserving fresh registration options. https://www.taxtmi.com/highlights?id=103293 https://www.taxtmi.com/highlights?id=103293 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Fresh adjudication on contractual material requires reconsideration of service-tax demand and exemption claim after a hearing. https://www.taxtmi.com/highlights?id=103292 https://www.taxtmi.com/highlights?id=103292 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Parallel GST proceedings on identical issues were invalid after Central GST adjudication for the same assessment period. https://www.taxtmi.com/highlights?id=103291 https://www.taxtmi.com/highlights?id=103291 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Premature tax assessment before the annual-return deadline is invalid, requiring fresh proceedings with notice and hearing. https://www.taxtmi.com/highlights?id=103290 https://www.taxtmi.com/highlights?id=103290 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Incorrect GST head payment: clerical IGST remittance can be adjusted against CGST and SGST without interest or penalty. https://www.taxtmi.com/highlights?id=103289 https://www.taxtmi.com/highlights?id=103289 Wed, 02 Sep 2026 23:01:42 +0530 GST Highlights TaxLaws TaxTMI Revisional relief for omitted charitable-trust capital-gains claims extends to fixed-deposit reinvestment where disclosure was complete. https://www.taxtmi.com/highlights?id=103288 https://www.taxtmi.com/highlights?id=103288 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Subsisting reasons to believe fail when appellate relief removes every subsequent-year foundation for reassessment; the notice was quashed. https://www.taxtmi.com/highlights?id=103287 https://www.taxtmi.com/highlights?id=103287 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Reason to believe in reassessment requires a live material nexus; unrelated allegations and later law cannot sustain reopening. https://www.taxtmi.com/highlights?id=103286 https://www.taxtmi.com/highlights?id=103286 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Draft assessment procedure requires eligible-assessee status and final determination before demand or penalty notices can validly issue. https://www.taxtmi.com/highlights?id=103285 https://www.taxtmi.com/highlights?id=103285 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Signed statutory approval is essential for reassessment jurisdiction; electronic authentication cannot replace a manual or digital signature. https://www.taxtmi.com/highlights?id=103284 https://www.taxtmi.com/highlights?id=103284 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Intra-group service pricing adjustment deleted after arm's length price was set at nil without sustainable basis. https://www.taxtmi.com/highlights?id=103283 https://www.taxtmi.com/highlights?id=103283 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer-pricing benchmarking requires proven COVID costs, consistent TNMM classifications, and reliable internal CUP comparability before adjustments. https://www.taxtmi.com/highlights?id=103282 https://www.taxtmi.com/highlights?id=103282 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjustment. https://www.taxtmi.com/highlights?id=103281 https://www.taxtmi.com/highlights?id=103281 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitability. https://www.taxtmi.com/highlights?id=103280 https://www.taxtmi.com/highlights?id=103280 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer-pricing comparability requires aligned related-party exposure, ownership profile, revenue model and sourcing-support functions to prevent distorted margins in benchmark analysis. https://www.taxtmi.com/highlights?id=103279 https://www.taxtmi.com/highlights?id=103279 Wed, 02 Sep 2026 23:01:42 +0530 Income Tax Highlights TaxLaws TaxTMI TMI Updates - Newsletter dated: September 02, 2026 https://www.taxtmi.com/newsletter?id=09/02/2026 https://www.taxtmi.com/newsletter?id=09/02/2026 Daily Updates Tax