Tax

SC's Tiger Global ruling marks a shift in India's tax jurisprudence, unsettling treaty certainty, expanding anti-avoidance scrutiny and raising concerns over predictability for foreign investors

From the finance ministry came a mix of revenue-raising and trade-defence actions. Taxes on tobacco products will increase from the beginning of next month

ITC shares slump as steep excise duty hike on cigarettes wipes out over $7 billion in market value and triggers a spate of brokerage downgrades

The Tobacco Institute of India calls on the government to reconsider the steep excise and GST hike on tobacco, warning of hardships for farmers, MSMEs, retailers and a surge in illicit trade

The Punjab government has extended the deadline for the one-time settlement scheme for outstanding tax dues till March 31, providing relief to traders and industry, Finance Minister Harpal Singh Cheema said on Thursday. The scheme, launched on October 1, was earlier set to end on December 31. Cheema said the extension was approved after representations from various stakeholders, including the GST Practitioners Association of Punjab, citing heavy compliance pressure and practical difficulties faced by taxpayers. So far, 6,348 applications have been received under the one-time settlement (OTS) scheme, reflecting strong participation from the trading community, he said. The government noted that overlapping tax deadlines towards the end of 2025 and delays in service of VAT assessment orders made it difficult for many businesses to assess their exact liabilities within the original timeline. The OTS scheme aims to resolve pre-GST disputes under the laws for VAT and Central Sales Tax b

The government said that tobacco products will continue to attract GST but will also be subject to additional excise duty on top of that tax from February 1

The notices have been issued under Section 142(1) of the Income-tax Act, which empowers the department to seek information or documents during assessment proceedings

ICSI has flagged slowdowns, timeouts and outages on the MCA 21 version 3 portal; government sources say some issues stem from awareness gaps as fixes continue

Tax experts said the ruling brings finality to the treatment of inter-office expenses for foreign banks and other multinational enterprises with Indian branches

The annual target of the state excise department is ₹63,000 cr in revenue; in the first eight months, the state has logged nearly 55% of this target at ₹35,144 cr

States have been provided financial assistance of Rs 4,24,227 crore since 2020-21 under the Scheme of Special Assistance to States for Capital Expenditure and Investment

India is a "strong champion" in implementing transparency measures against offshore tax evasion and its recent campaign asking taxpayers to correctly report their undisclosed foreign assets has led to disclosure of properties worth more than Rs 29,000 crore, a top OECD official has said. Head of the Organisation for Economic Cooperation and Development (OECD) Secretariat Zayda Manatta told PTI in an interview that these "notable" outcomes were a result of India's "commitment" to global tax transparency and automatic exchange of information standards. Manatta was here recently for the OECD annual plenary meeting of the 'Global Forum on Transparency and Exchange of Information for Tax Purposes' hosted by New Delhi between December 2 and 4. The France headquartered OECD is a globally recognised body that works for economic and social policy promotion. The Global Forum had 172 countries as its members. "India is a strong champion in tax transparency and has been supporting the work of

Cities are experimenting with online portals, waivers and service linkages, yet India's property tax collections remain weak, undermining municipal finances even as urban responsibilities keep rising

The Lok Sabha on Friday passed a bill to levy a cess on manufacturing units of pan masala, and utilise the fund for strengthening national security and improving public health. Replying to the debate on the Health Security se National Security Cess Bill, 2025, Finance Minister Nirmala Sitharaman said the cess will be shared with the states, as public health is a state subject. The bill was later passed by voice vote by the Lok Sabha. The bill seeks to augment the resources for meeting expenditure on national security and for public health by levying a cess on the machines installed or other processes undertaken to manufacture pan masala and similar goods. The purpose of the bill is to create a "dedicated and predictable resource stream" for two domains of national importance -- health and national security, she said. Sitharaman said pan masala will be taxed at the maximum 40 per cent rate under Goods and Services Tax (GST) based on its consumption, and there will be no impact of t

Chaturvedi's service record shows that his deepest and longest experience lies in the Directorate of Revenue Intelligence (DRI)

Around 2,500 taxpayers in Switzerland have assets worth more than 50 million francs, according to Swiss tax authorities, with a total wealth of about 500 billion francs

Centre has filed a curative plea in SC challenging the nine-judge verdict that upheld states' powers to tax mineral rights, after earlier bids to limit or review the ruling were rejected

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 receipt must have details such as donor name, amount, date, payment mode, PAN, and party registration number