Page 3 - Tax

Centre files curative plea against SC ruling on states' power to tax mines

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

India's new test for Permanent Establishment: Control over Presence

The Hyatt case has reignited a debate over what constitutes a permanent establishment, with courts increasingly focusing on the 'form over substance' principle

Govt notifies capital gains scheme, expands digital payment options

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

Retain transfer proof, receipts in political donations for future scrutiny

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

Rachel Reeves signals possible UK tax hikes ahead of November budget

In a pre-budget speech in Downing Street carried on national broadcasters, Reeves argued she would prioritize bringing down borrowing costs and inflation

Hindustan Unilever gets ₹1,987 cr tax notice for FY21 from authorities

The company, home to brands such as Dove soap and Surf Excel detergent, said the order will have no material impact on its financials or operations and will appeal against the tax demand

PFRDA chief calls for more awareness, tax support to expand NPS reach | BFSI Summit 2025

Pension Fund Regulatory and Development Authority (PFRDA) Chairperson S Ramann on Thursday said India must focus on improving financial literacy, expanding pension coverage beyond government employees

Assocham for easing direct tax measures to spur investor confidence

Chamber urges fiscal clarity for global data players, IBC loan waiver relief, and revival of the 15 per cent corporate tax rate to attract new investments

Pre-Budget meeting: Ficci seeks faster resolution of tax disputes

Industry body calls for clearing ₹18 trillion in pending tax appeals, TDS rationalisation and tax neutrality for fast-track demergers ahead of Union Budget 2026

GST rationalisation to lift organised apparel revenue by 200 bps: Report

The recent goods and services tax (GST) rationalisation is set to lift revenue growth of organised apparel retailers by about 200 bps this fiscal, keeping the topline steady at 13-14 per cent for the second financial year in a row, a report said on Monday. The GST rate cut on apparel priced below Rs 2,500 is likely to lift demand in the mid-premium segment, while the fast fashion or value segment will continue to drive the momentum, Crisil Ratings said in a report. Though limited, the GST relief provides timely support to sustain growth, the report stated. The uniform 5 per cent GST rate -- versus the previous dual structure of 5 per cent below Rs 1,000 and 12 per cent between Rs 1,000 and Rs 2,500 -- has widened the consumption base, it added. Conversely, Crisil Ratings said, the increase in the GST rate on apparel priced above Rs 2,500 from 12 per cent to 18 per cent has weighed on premium categories, including wedding wear, woollens, handlooms, and embroidered clothing. The pre

Eternal gets GST demand order, penalty worth ₹128 crore from UP officials

Eternal, which owns the Zomato and Blinkit brands, on Sunday said it has received a goods and services tax (GST) demand order from the Uttar Pradesh tax authorities along with applicable interest and penalty amounting to over Rs 128 crore. The demand order received from Deputy Commissioner, State Tax, Lucknow, Uttar Pradesh is with respect to short payment of output tax and excess availment of input tax credit for the period April 2023 to March 2024 with interest and penalty thereon. Eternal said it believes it has a strong case on the merits and will file an appeal against the order before the appropriate authority. In a regulatory filing, Eternal said, "This is to inform that the Company has received an order on 18 October 2025 for the period April 2023 to March 2024 passed by Deputy Commissioner, State Tax, Lucknow, Uttar Pradesh confirming demand of GST of Rs 64,17,43,503 with interest as applicable and penalty of Rs 64,17,43,503." The company re-branded itself as Eternal in .

India’s direct tax collections rise 6%; what’s driving the surge? | Income Tax | ITR | Finance

India’s net direct tax collections have risen over 6% this year, powered largely by higher inflows from individuals and non-corporate taxpayers.

SC upholds trade tax on ink, chemicals used in printing lottery tickets

The Supreme Court on Tuesday upheld the levy of trade tax on ink and processing materials used by a firm in printing lottery tickets, while deciding an over 25-year-old matter. A bench comprising Justices J B Pardiwala and K V Viswanathan held that ink and processing materials used in printing lottery tickets form part of the goods transferred in the execution of a works contract under Section 3F of the Uttar Pradesh Trade Tax Act, 1948. The verdict came on an appeal of Ghaziabad-based printing company, M/s Aristo Printers Pvt Ltd, against a 2010 verdict of the Allahabad High Court which had allowed the revenue department's revision petitions and restored the tax demand. The firm undertook printing of lottery tickets using paper supplied by its clients and procured its own ink, processing chemicals and other materials for carrying out the printing work. The Trade Tax Officer, Ghaziabad, had in assessment orders dated October 28, 1999, levied trade tax on the value of ink, chemicals

Bajaj Auto gets over ₹3.5 cr demand notice from Assam tax authorities

Bajaj Auto on Tuesday said it has received a tax demand of over Rs 3.5 crore from Assam authorities. The company has received an order for excess input tax credit availed in GSTR-3B as compared to GSTR-2A for FY 21-22, and demanded the difference as tax amounting to Rs 3,51,87,014 along with applicable interest and penalty of Rs 35,18,701, the Pune-based firm said in a regulatory filing. The company availed input tax credit after fulfilling all the conditions as per the provisions of the GST law, it added. Accordingly, based on the merits of the case, the company will be filing an appeal against the Order, Bajaj Auto said. The order does not have any major financial implications on the company, it added. Bajaj Auto shares on Tuesday ended 1.25 per cent up at Rs 8,903.90 apiece on BSE.

I-T dept imposes penalty of ₹23.07 crore on Adani Cement entity ACC

The Income Tax (I-T) department has imposed two separate fines on ACC Ltd, totalling Rs 23.07 crore, which will be contested by the Adani Group firm before the appellate authorities. The I-T department has slapped a penalty of Rs 14.22 crore allegedly "for furnishing of inaccurate particulars of income" for Assessment Year 2015-16. The department has also levied a penalty amounting to Rs 8.85 crore "for under-reporting of income" for Assessment Year 2018-19. "The company will be contesting both orders by filing appeals before the Commissioner of Income Tax (Appeals) within the prescribed timelines and, in parallel, will seek a stay on the penalty demands raised under the respective orders," ACC said in regulator filings on Thursday. The company received these two demands on October 1, 2025, and said that these penalties will have no impact on financial activity. ACC is a subsidiary of Ambuja Cement, the Adani Cement entity, which owns over 50 per cent of the company. Both the I-T

Centre releases additional ₹1.01 trn tax devolution to state governments

The Centre has released an additional instalment of tax devolution of Rs 1,01,603 crore to state governments ahead of the upcoming festival season. In view of the upcoming festive season and to enable states to accelerate capital spending and finance their development/welfare-related expenditure, the Union government has released an additional tax devolution of Rs 1,01,603 crore to state governments on October 1, 2025, the finance ministry said in a statement on Wednesday. This is in addition to the normal monthly devolution Rs 81,735 crore due to be released on October 10, 2025, it said. The additional instalment of devolution to states is in line with the principle of cooperative federalism and the aim of becoming 'Viksit Bharat' by 2047. Currently, 41 per cent of taxes collected by the Centre is devolved in instalments among states during a fiscal year.

September GST collection increases to ₹1.89 trillion vs ₹1.86 trn in August

GST mop-up in September 2024 stood at ₹1.73 trillion, while collections in August 2025 were at ₹1.86 trillion

No income tax refund yet? Why is your refund delayed, and what can you do? | ITR 2025

Taxpayers across India are facing long delays in income tax return (ITR) processing and refunds. Experts attribute a mix of compliance mismatches and technical slowdowns as the primary causes.

Tax notice? Joint owners must save documents showing who funded asset buy

At the time of purchase, both sides ought to make a formal declaration of beneficial interest and financial contribution

GST rate cut: Agri minister to meet farm equipment industry on Sep 19

Agriculture Minister Shivraj Singh Chouhan will hold discussions with industry players on Friday to ensure the smooth implementation of the recent cut in Goods and Services Tax (GST) on tractors and other farm equipment. The government has reduced GST from 12-18 per cent to 5 per cent on various agricultural machinery and equipment effective September 22. This will reduce the retail prices by 7-13 per cent. "Farmers will also gain the dual benefit of subsidy schemes combined with lower taxation, while indigenous agricultural machinery manufacturers will receive a competitive edge under the vision of Atmanirbhar Bharat," an official statement said. The meeting will focus on ensuring the benefits of GST rate cuts are widely passed on to farmers. Representatives of the Tractor and Mechanisation Association (TMA), Agricultural Machinery Manufacturers Association (AMMA), All India Combine Harvester Manufacturers Association (AICMA), Power Tiller Association of India (PTAI), and ...