News
No IGST/ Service Tax on Ocean Freight under CIF Contracts " Importer Not "Recipient" and Levy Violates Composite Supply Principle
1+ hour, 2+ min ago (891+ words) GST Judgements, Bombay high court Firmenich Aromatics Production India Pvt. Ltd. (the Petitioner) is an importer of goods under CIF contracts and challenged the levy of Service Tax/IGST on ocean freight imposed through various provisions of the Finance Act,…...
Supreme Court Seeks Fast-Track Hearing In Pernod Ricard Rs 3, 000 Crore Customs Dispute
21+ hour, 35+ min ago (382+ words) Customs News, Supreme Court The Supreme Court on Tuesday pushed for an expedited hearing in the long-running customs valuation dispute involving Pernod Ricard India. The Court asked the Delhi High Court to take up the company's writ petition within days…...
Rs 1, 420cr GST fraud racket busted; 2 arrested in Bengaluru
22+ hour, 23+ min ago (252+ words) GST Recent News - 2026, GST Fraud News Bengaluru: Cracking down on GST fraud, the commercial taxes department unearthed a fake input tax credit (ITC) racket involving suspicious transactions worth nearly Rs. 72, 384 crore and fraudulent claims amounting to Rs. 1, 420 crore. Two key…...
Vague and Non-Specific SCN Without "Details" Under Section 73 of the CGST Act is Unsustainable
1+ day, 23+ hour ago (606+ words) GST Judgements, Punjab and Haryana HC News Abbott Heathcare Private Limited (the Petitioner) is an assessee against whom a show cause notice under Section 73 was issued alleging excess availment of input tax credit, mismatch in ITC, and short payment of…...
Assignment of Leasehold Rights as Transfer of Immovable Property Not Liable to GST
2+ day, 1+ hour ago (642+ words) Bombay high court, GST Judgements The Hon'ble Bombay High Court in the case of Hindustan Equipment Craft v. Assistant Commissioner of State Tax [Writ Petition No. 1257 of 2026, order dated February 27, 2026] held that assignment of leasehold rights to a third party constitutes…...
Supreme Court order turns up tax heat on old benami transactions
3+ day, 23+ hour ago (373+ words) Income Tax Recent News - 2026, Income Tax Case Update, Supreme Court Old "benami" deals " where housekeepers, chauffeurs, and nondescript persons with no wherewithal act as fronts to hold land, cash, and properties for real owners " can return to haunt many. According…...
Lady took loan for investment into venture capital fund, claimed Rs 1. 49 crore interest deduction, was denied by I-T dept; ITAT allows it in a landmark ruling
4+ day, 16+ hour ago (693+ words) ITAT - Income Tax News, Income Tax Recent News - 2026 A lady from Juhu, Mumbai, submitted her income tax return (ITR) and claimed an interest deduction of Rs 1. 49 crore after taking out a loan from Deutsche Bank. She said this loan was…...
Fake income tax emails target Indians: Kaspersky warns of "Silver Fox" hacker attack
4+ day, 21+ hour ago (717+ words) Income Tax Recent News - 2026 In December 2025, Kaspersky, a cyber security company, detected a wave of malicious emails which very closely resembled official emails from the Income Tax Department of India. A few weeks later, in January 2026, a similar campaign began…...
ED alleges Punjab minister Sanjeev Arora used bogus invoices for GST refunds
4+ day, 18+ hour ago (297+ words) GST Recent News - 2026, ED News, fake invoicing, Punjab GST News To get custody of AAP Punjab minister Sanjeev Arora, former chairman and managing director of Hampton Sky Realty Limited (HSRL), the Enforcement Directorate (ED) has alleged in court that his…...
Supreme Court reviews GST on costs paid to municipal bodies
6+ day, 16+ hour ago (362+ words) GST Recent News - 2026, Supreme Court In a matter having "large ramifications," the Supreme Court on Thursday said that it will examine whether Goods and Services Tax (GST) under reverse charge basis can be levied on companies for payments made to…...