Page 2 - Monika Yadav

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)

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