Monika Yadav

Charities, trade bodies come under Income-Tax Department scrutiny

Tax authorities flag certain receipts as 'commercial', citing possible violation of Section 2(15)

APAs may remain relevant despite expanded safe harbour regime

Experts say advance pricing agreements will continue to be preferred by large firms for flexibility, certainty, and cross-border alignment despite simplified safe harbour rules

CBDT urged to issue master circular on legacy tax guidance in new I-T law

Experts flag ambiguity over applicability of legacy circulars under the new Income-tax Act, 2025, seeking clarity to reduce disputes and ensure uniform compliance

Centre hikes export duty on diesel to ₹55.5/l, ATF to ₹42/l; petrol nil

The Finance Ministry effected the hike through five notifications by raising the Special Additional Excise Duty on diesel to ₹24 per litre and adjusting the Road and Infrastructure Cess

E-way bills hit record 140.6 million in March, up 13%, shows GSTN data

GSTN data shows e-way bill generation at record high in March, reflecting strong goods movement and compliance, though experts caution against treating it as a proxy for growth

Global corporation tax system has become complex, ineffective: Devereux

Economist Michael Devereux calls for moving beyond incremental reforms, arguing current global tax rules are complex, ineffective, and ill-suited to taxing multinationals

Petchem import duty waiver to cost govt ₹1,800 crore in 3 months

The exemption on a wide range of critical petrochemical products till June 30, 2026, is a temporary and targeted relief to shield domestic manufacturers from disruptions caused by the Iran war

Tiger Global ruling concerns: CBDT exempts pre-FY18 investments from Gaar

CBDT clarifies GAAR provisions to exempt pre-2017 investments from scrutiny, aiming to boost investor confidence and ensure tax certainty

Gross GST growth in FY26 least since Covid-hit 2020-21, net up 7.1%

Net GST collections rose 8.2 per cent year-on-year to ₹1.78 trillion in March, supported by strong import growth, steady compliance, and rising domestic consumption trends

Bombay High Court halts GST action on 18% hotel restaurant levy

Court continues interim relief, stays show-cause notice in case challenging 18% GST rate on restaurants in high-tariff hotels, with hearing slated for June

CBIC removes ₹10 lakh cap on courier exports to boost e-commerce trade

Move to boost e-commerce exports and ease logistics as CBIC rolls out wider reforms, including faster clearances and simplified return mechanisms

CBDT issues revised DIN norms, replaces 2019 circular on tax notices

New guidelines introduce flexibility in quoting DIN in tax communications while ensuring traceability and reducing litigation over procedural lapses

FY26 marks sweeping tax overhaul with new income tax law, GST reforms

Union Budget-driven changes introduce new Income Tax Act, GST 2.0 rationalisation, and compliance reforms aimed at simplifying taxation and boosting transparency

FM Nirmala Sitharaman scotches rumours of lockdown like Pakistan

"...The government is taking burden, making sure oil marketing companies (OMCs) will ensure buying more and doing supply, and keeping the supply uninterrupted," she said

West Asia conflict: Govt steps in to shield OMCs via big duty cuts

Move to cost exchequer ₹1.3 trn in FY27; export duty reimposed

Finance Bill 2026 cleared; limit buyback tax to domestic entities

Amendments raise start-up tax threshold, remove arrest provisions and introduce safeguards in reassessment, aiming to ease compliance and reduce litigation

GST reforms have boosted economy, says FM Sitharaman in Lok Sabha

Sitharaman says rise in auto sales, tractors and cement output shows GST rate cuts supported demand, even as concerns remain over uneven price transmission

E-way bill system reform to ease logistics, push trust-based compliance

Economic Survey 2025-26 outlines a shift in the GST e-way bill system from enforcement to a trust-based, technology-driven framework aimed at improving logistics efficiency and easing compliance

Govt collects ₹9,516 crore tax on undisclosed foreign assets in 3 years

Parliament informed that tax collections under the Black Money Act rose sharply, while probes into global leaks have led to over ₹41,000 crore in tax and penalty demand

No formal study on GST rate rationalisation's inflation impact: Govt

Government says no formal study has assessed GST rate rationalisation's inflation impact; GST revenue rose 8.1% in February, with rural consumption showing strong gains