News Update

Dispute on Classification of Imported E-Rickshaw parts assembled subsequently into complete E-RickshawIndia axes import duty on Bourbon Whiskey from 150% to 50%GST - Rule 86A - Blocking of credit serves purpose of being security for revenue on recovery: HCLS Speaker sets up 31-member Select Committee to study Income Tax BillGST - Rule 86A - There is no power conferred upon the authorities for blocking the credit to be availed by the petitioner, in future: HCRailways to run Delhi-Varanasi Vande Bharat through PrayagrajKerala VAT - VAT Tribunal's remand order warrants interference with, where it omits to observe that AO lacked material to question Gross Profit declared by assessee: HCTrump to tariff-target automobiles by AprilCBIC clarifies on GST rates & classifications based on Council’s last meetingWHO suggests cigarette-like warning on alcoholic drinks for cancerKerala VAT - Re-assessment notice wrongly quashed where Single Judge erroneously assumes that said notice was issued after lapse of original limitation period: HCTrump turns eyes towards trimming IRSPM addresses SAMVAD programme in ThailandUS, Ukraine dialogue on critical minerals ends without a dealKerala General Sales Tax - Mere issuance of SCN u/s 17(3) will not invalidate assessment order, where assessee opts for compounding & is liable to pay highest amount as per Section 7 of Act: HCVance lambasts Europe’s immigration policiesMaharashtra should establish model Directorate of Prosecution system: HMSaudi Arabia to host Arab Summit on US Gaza Plan on Feb 20I-T - Non-issuance of notice u/s 153C for abated assessment year, vitiates vested right of assessee to raise fresh claims in return filed in response to Sec 153C notice, and hence it is incurable defect: ITATVance says free speech is in retreat in EuropeIndia Post Bank provides Seamless Banking Services to devoteesI-T- Additions framed based on unexplained income, are not tenable, where allegations are based on third-party statements whose deponent's cross examination was denied to assessee: ITATHQIDS bolsters global defence partnerships during Aero India 2025I-T- Exemption u/s11 Cannot Be Denied Entirely for Minor Violations : ITATBharat Tex 2025 pulls global textile giants and brandsI-T - Addition u/s 68 is not permitted when identity, genuineness & creditworthiness, stands proved: ITAT
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Former Prime Minister, Dr Manmohan Singh, delivering his Award Acceptance Speech after receiving TIOL Fiscal Heritage Award 2022 on Nov 8 at Taj Palace, New Delhi



Technical Session I - Ease of Doing Business: GST on Digital Economy