While the minister said the Centre had surrendered its power to levy excise duty on tobacco in 2017, excise duty did continue after GST - though at a nominal level
Parliament clears the Manipur GST amendment, aligning the state with national GST reforms, including track-and-trace, simplified voucher rules, clarified definitions and uniform appeal procedures
The Hyatt case has reignited a debate over what constitutes a permanent establishment, with courts increasingly focusing on the 'form over substance' principle
The Capital Gains Accounts (Second Amendment) Scheme, 2025 adds digital payments, e-statements and mandatory online closure from 2027, modernising the 1988 framework for reinvesting capital gains
The Supreme Court scrapped the 50-year age bar and four-year tenure for tribunal members under the 2021 law, restored earlier rules, and directed the Centre to set up a National Tribunals Commission
Industry representatives believe that addressing these issues will improve ease of doing business, facilitate legitimate restructuring, and reduce future tax disputes
Chairman Ravi Agarwal says the department expects to meet its ₹25.2 trillion direct tax goal for FY26, with refunds slowing due to verification of incorrect claims and a dip in filings this year
Starting January 2026, the CBDT will conduct nationwide awareness and training programmes to familiarise taxpayers with the new Income Tax Act, 2025, which comes into effect on April 1, 2026.
MSME players in pre-Budget talks seek collateral-free credit, relaxed NPA norms, and tax reliefs to offset the impact of a 50% US tariff hike on exports and ease liquidity pressures
