Page 7 - Monika Yadav

HC upholds GST order despite missing document number on physical copy

Court rules GST order issued through portal with system-generated reference number remains valid even if physical copy does not carry Document Identification Number

Net direct tax collections up 9.4 % to ₹19.43 trillion till February 10

Net direct tax collections grow 9.4% to Rs 19.43 trillion till February 10 in FY26, aided by moderation in refunds, CBDT provisional data shows

Bombay HC stays Rs 170 cr GST recovery against Gateway Terminals

The Bombay High Court has stayed recovery proceedings in a ₹170 crore GST dispute against Gateway Terminals over denial of input tax credit on licence fees paid to JNPT

Tax department redesigns 30 forms ahead of new Income-Tax Act rollout

The tax department has proposed a major redesign of 30 high-volume income-tax forms to reduce duplication, simplify compliance and support a data-driven regime under the new law

Filing returns for FY26: Taxpayers may continue to use existing ITR forms

New rules likely to be notified by March 1st week

New CBDT rules may focus on risk-based cross-border RPTs: Experts

The draft norms reduce delegated legislation, with their number proposed to be cut to 333 from 511

Eway bill generation rises 43% in January, the second-highest ever

E-way bill generation rose to 136.83 million in January, the second-highest monthly level on record, marking a 42.6 per cent year-on-year increase amid stronger goods movement

Component warehousing safe harbour to offer competitive tax outcome

The proposed safe harbour regime for component warehousing linked to manufacturing may offer multinationals a globally competitive tax outcome and greater certainty on transfer pricing

CBDT puts draft Income-tax Rules, forms out for feedback till Feb 22

Draft rules and forms placed in public domain for 15 days as part of preparatory work for implementation of Income-tax Act, 2025 from April 2026

Tax certainty for foreign Cloud service providers to curb disputes: Experts

New tax certainty rules for foreign cloud firms aim to prevent disputes on permanent establishment and global income, boosting confidence in India's fast-growing data centre ecosystem

Draft rules, forms under new I-T law likely this week for consultation

Draft rules and forms under the Income Tax Act, 2025 are set to be released this week, ahead of a phased transition from the 1961 law starting April 1

Some overlapping period for new and old I-T rules will exist: CBDT chairman

Budget tax reforms aim to simplify compliance as 86% of individuals shift to the new tax regime ahead of the new Income Tax Act rollout, says Agrawal

US tariffs not the only factor for Customs duty changes: CBIC chairman

CBIC Chairman Vivek Chaturvedi explains the Budget's calibrated customs duty exemptions, SEZ flexibility and tariff reforms amid global trade headwinds

Global travellers get more shopping leeway under new Baggage Rules, 2026

New baggage rules emphasise electronic declarations and advance filings to minimise airport delays

Budget 2026-27: FM Nirmala Sitharaman for 'a lot more on disinvestment'

Says IBC amendment Bill will come up in second half of Budget session

Income Tax dept aims to dispose of over 200,000 CIT(A) appeals in FY26

Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty

Budget 2026: Govt introduces penalty framework for crypto trading entities

The framework includes Rs 50,000 fine for furnishing inaccurate information or failing to rectify inaccuracies

Budget 2026: MAT rationalisation to help migration to new tax regime

Budget 2026 converts MAT into a final levy at 14 per cent, limits MAT credit utilisation, and extends exemptions for non-residents to encourage a shift to the new concessional corporate tax regime

FM: Building ecosystem for improving productivity, employment generation

Finance Minister Nirmala Sitharaman and top officials explain the thinking behind Budget 2026-27, from record capex and tax reforms to disinvestment and global risks

Economic Survey bats for trust-based e-Way Bill system to ease logistics

The survey proposes policy designs relying on trust-based models, such as a "trusted dealer" framework, where taxpayers with strong compliance records face minimal physical checks