Team Bizsol

Input Tax Credit was denied solely due to delayed return filing for 2018-2019, retrospective insertion to Goods and Services Tax enactments by Finance No. 2 Act 2024 and Circular No. 237/31/2024-GST clarified entitlement, making Input Tax Credit available, matter remanded for fresh consideration as per law {Kabriyal Rajan vs. Supertintendent, CGST & Central Excise [2026] …

Judicial Corner:and Services Tax enactments by Finance No. 2 Act 2024 and Circular No. 237/31/2024-GST clarified entitlement, making Input Tax Credit available, matter remanded for fresh consideration as per law (14.01.2025) Read More »

Goods in question were loaded in two trucks as the machine could not be accommodated in one truck, and in the invoice as well as in the e-way bill, multi-vehicle transport was specifically mentioned; therefore, no intention to evade tax could be attributed to the assessee. {Falcon Autotech (P.) Ltd. vs. Additional Commissioner [2026] 182 …

Judicial Corner: Goods in question were loaded in two trucks as the machine could not be accommodated in one truck, and in the invoice as well as in the e-way bill, multi-vehicle transport was specifically mentioned; therefore, no intention to evade tax could be attributed to the assessee. (13.01.2026) Read More »

DGFT: India & Arab Countries Chamber of Commerce, Industry & Agriculture (IACCIA), New Delhi, has been authorised under Appendix 2E of FTP 2023 to issue Non-Preferential Certificates of Origin with immediate effect. (Public Notice No. 43/2025-26 dated 09.01.26

DGFT Appendix 2U of the Handbook of Procedures, 2023 is amended to revise the eBRC format by adding GSTIN, GST Invoice Number and Date, and modifying the Address field. The revised format is applicable from 13 January 2026. (Public Notice No. 42/2025-26 dated 09.01.26)

Income Tax The Core Settlement Guarantee Fund is notified for exemption under Section 10(23EE) from AY 2024-25 onwards, for specified income, and is established by AMC Repo Clearing Limited, a recognised clearing corporation. (Notification No. 06/2026 dated 08.01.26)

Customs The existing anti-dumping duty on imports of Flexible Slabstock Polyol (HS 3907 29) from Saudi Arabia and the UAE has been extended pending sunset review and shall remain in force up to and including 17 June 2026. (Notification No. 01/2026-Customs (ADD) dated 02.01.26)

Insolvency and Bankruptcy code  Revised electronic forms have been introduced for the liquidation process, requiring insolvency professionals to file forms with enclosures on the designated electronic platform, and the existing forms shall stand discontinued with effect from 1 January 2026. (Circular No. IBBI/LIQ/91/2026 dated 05.01.26)

Income Tax Inbar Holding RSC Limited (PAN: AAGCI2029C) has been notified as a specified person under section 10(23FE) for eligible investments made in India, effective from the date of notification up to 31-03-2030. (Notification No. 1/2026 dated 05.01.26)

DGFT: Interest Subvention for Pre- and Post-Shipment Export Credit under EPM – Niryat Protsahan has been launched offering 2.75% p.a. interest relief to eligible MSME exporters on rupee export credit, subject to a ₹50 lakh annual cap, on a pilot and consultative basis. (Trade Notice No. 20/2025-26 dated 02.01.26)

DGFT: Collateral Support for Export Credit under EPM – Niryat Protsahan has been launched for providing CGTMSE-backed credit guarantees up to ₹10 crore for eligible MSME merchandise exporters’ export-linked working capital loans, on a pilot and consultative basis. (Trade Notice No. 21/2025-26 dated 02.01.26)

DGFT The import policy for Low Ash Metallurgical Coke under ITC (HS) Chapter 27 has been liberalised by deleting Policy Condition No. 08, thereby allowing free import of specified coke varieties without any restriction. (Notification No. 54 /2025-26 dated 03.01.26)

GST: GST Portal now enables online opt-in declaration for “Specified Premises” for hotel accommodation services via Annexure VII (existing taxpayers) and Annexure VIII (new registrations), with defined eligibility, timelines (01 Jan 26–31 Mar 26), and EVC-based filing. (Advisory dated 04.01.26)

HC remanded matter as no credit was given to assessee for unavailed ITC before raising demand of CESS Case {Bidyut Autotech (P.) Ltd. vs. Assistant Commissioner of State Tax [2025] 181 taxmann.com 354 (Calcutta HC)}     Facts: The assessee was engaged in manufacturing activities and was liable to pay CESS under the applicable GST …

Judicial Corner: HC remanded matter as no credit was given to assessee for unavailed ITC before raising demand of CESS Case {Bidyut Autotech (P.) Ltd. vs. Assistant Commissioner of State Tax [2025] 181 taxmann.com 354 (Calcutta HC)}(02.01.2026) Read More »