RBI has replaced the year-2000 FEMA guarantee regulations with a 2026 framework that introduces mandatory quarterly reporting of cross-border guarantees in Form GRN, backed by Late Submission Fees for delay.
Two rulings this week reshape how faceless assessment notices and TDS penalty proceedings should be handled: a mandatory 7-day SCN window, and a sharpened line between non-deduction and delayed deposit under Section 271C.
The common 31 July due date for all non-audit ITRs is gone. Under the Finance Act 2026, ITR-3 and ITR-4 (non-audit cases) now carry a separate, statutory 31 August due date.
The Gujarat High Court held that a transferor cannot split unutilised ITC between an ITC-02 transfer and a separate cash refund claim on amalgamation. The matter is now before the Supreme Court.
GSTN has made the Ship-to GSTIN field mandatory across e-Invoice and e-Way Bill APIs. Here is what breaks if your ERP master data isn’t updated, and how to fix it before your next dispatch.
The GST Council has announced new rates for certain goods and services, effective from June 1, 2026.
GST Council Announces New Rates for Certain Goods and Services Read Post »
Penalty for concealment of income under Section 271(1)(c).
Penalty for Concealment Read Post »
The Central Board of Direct Taxes (CBDT) has notified new rules for the taxation of virtual digital assets, including cryptocurrencies and non-fungible tokens (NFTs).
CBDT Notifies New Rules for Taxation of Virtual Digital Assets Read Post »
The GST Council has announced the removal of exemptions on certain services, including hotel accommodations, effective from October 1, 2026.
GST Council Removes Exemptions on Certain Services, Including Hotel Accommodations Read Post »