Monika Yadav

Gujarat HC ruling on ITC denial raises compliance burden for businesses

Gujarat High Court upholds ITC denial for supplier defaults, increasing compliance costs and working capital pressure for businesses across multi-layered supply chains

Net direct tax mopup rose 5.12% in FY26 but fell short of RE: CBDT data

Net direct tax collections rose 5.12% in FY26, missing revised estimates as non-corporate tax growth remained flat despite robust corporate tax collections

ED attachments up 170% to ₹81k cr in FY26; ₹63,142 cr returned to victims

The ED has a conviction rate of 94 per cent and is confident that out of more than 2,400 cases now pending before trial courts

Net, gross GST collections touched new highs in April: Govt data

Growth led by import-linked incentives, surge in March-end filings

IBC-tax law mismatch clouds loss carry-forward benefits: Experts

Under the Insolvency and Bankruptcy Code (IBC), financially stressed companies can be taken over by new owners through a resolution process

FDI inflows set to top $90 billion in FY26, says DPIIT secretary

India's FDI inflows are set to cross $90 billion in FY26, driven by reforms, FTAs, and rising global investor confidence across key sectors

Cars, ACs cheaper but food prices inched up after GST cuts: Bank of Baroda

GST rate cuts have sharply lowered prices of cars and appliances, but rising input costs have limited relief for food and personal care items, Bank of Baroda analysis shows

Mismatch between IBC and tax law clouds loss carry-forward benefits

A growing mismatch between insolvency and tax laws is raising uncertainty for companies, with tax authorities denying loss carry-forward benefits despite approved resolution plans

Visiting Canada next month to speed up Cepa talks, says Piyush Goyal

India has already concluded nine FTAs that provide preferential access to nearly two-thirds of the global economy and global trade, covering 38 developed and prosperous countries

CBIC allows duty drawback on re-export of SEZ goods cleared to DTA

Tax body clarifies that SEZ goods cleared to DTA and re-exported will qualify as imports for duty drawback, aiming to ensure uniformity and reduce disputes

Lower GST on insecticides can boost access, cut disease risk: EY-HICA

Reducing GST on household insecticides to 5% can improve affordability, widen rural access, and help curb mosquito-borne diseases, says a joint EY India-HICA report

Bombay HC grants RoDTEP relief to sugar firms, flags litigation chaos

The Bombay High Court allowed RoDTEP benefits to sugar exporters and flagged inconsistent litigation by the Centre, calling for a National Litigation Policy to ensure uniformity

Broader 'export incentives' definition in ITA 2025 prompts CBDT clarity

Experts warn wider wording in new income-tax law could expand tax scope to indirect benefits, urging CBDT to clarify and prevent disputes for exporters

Foreign-hallmarked gold found in I-T raids on TMC MLA aide; DRI may probe

Investigators uncover foreign-marked bullion during tax raids linked to TMC MLA aide, prompting possible DRI probe amid scrutiny of asset disclosures

Bombay High Court refers GST consolidated SCN issue to larger bench

Section 73 covers tax shortfalls/input tax credit errors without fraud, while Section 74 covers the same issues involving fraud or suppression

Tiger Global ruling: Despite Gaar relief, investors seek more clarity

Tax uncertainty persists after Supreme Court's Tiger Global ruling despite GAAR relief, with concerns over treaty benefits, TRC validity and indirect transfer taxation

Charities, trade bodies come under Income-Tax Department scrutiny

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

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