Team Bizsol

Vague SCN and unreasoned revocation rejection invalid; matter remanded to notice stage{ Sujoy Paul vs. Union of India [2026] 188 taxmann.com 39 (Gauhati)} Facts: Petitioner’s GST registration was cancelled for alleged non-filing of returns. However, the show cause notice did not specify the period for which returns were allegedly not filed. The petitioner later applied …

Judicial Corner: Vague SCN and unreasoned revocation rejection invalid; matter remanded to notice stage{ Sujoy Paul vs. Union of India [2026] 188 taxmann.com 39 (Gauhati)} (09.07.2026) Read More »

Transfer of Leasehold Rights Not Taxable Under GST { Aerocom Cushions Pvt. Ltd. v. Assistant Commissioner (Anti-Evasion), CGST & CX 2026:BHC-NAG:348-DB (Bombay High Court, Nagpur Bench, 09.01.2026)} Facts Petitioner was allotted an industrial plot by MIDC on a 95-year lease and had constructed a factory building on the leased land. Petitioner assigned its leasehold rights, …

Judicial Corner: Transfer of Leasehold Rights Not Taxable Under GST { Aerocom Cushions Pvt. Ltd. v. Assistant Commissioner (Anti-Evasion), CGST & CX 2026:BHC-NAG:348-DB (Bombay High Court, Nagpur Bench, 09.01.2026)}(08.07.2026) Read More »

Extended limitation under sec. 74 justified as non-response to DRC-01A and DRC-01 construed as suppression{ [2026] 187 taxmann.com 1105 (Madras)} Facts The department issued DRC-01A intimations and DRC-01 show cause notices for FY 2018-19 and 2019-20 after scrutiny. Petitioner did not submit any reply or provide the requested information. Consequently, the department passed ex parte …

Judicial Corner: Extended limitation under sec. 74 justified as non-response to DRC-01A and DRC-01 construed as suppression{ [2026] 187 taxmann.com 1105 (Madras)} (07.07.2026) Read More »

Composite SCN for multiple years under sec. 73 quashed as separate SCNs mandated { Sri Sri Granites vs. Assistant Commissioner [2026] 187 taxmann.com 915 (Kerala)} Facts The GST department issued one consolidated Show Cause Notice under Section 73 covering multiple financial years (2019–20 to 2023–24). The taxpayer challenged the notice, arguing that separate SCNs are …

Judicial Corner: Composite SCN for multiple years under sec. 73 quashed as separate SCNs mandated { Sri Sri Granites vs. Assistant Commissioner [2026] 187 taxmann.com 915 (Kerala)}(07.07.202}(06.07.2026) Read More »

FEMA & Banking IFSCA and Japan’s Financial Services Agency (FSA) have executed an Exchange of Letters (EoL) to strengthen regulatory cooperation and information sharing on financial sector regulation, supervisory frameworks, and best practices. The EoL was signed on 26 June 2026 and exchanged during the 16th India–Japan Annual Summit in New Delhi. PRESS RELEASE- July …

FEMA & Banking IFSCA and Japan’s Financial Services Agency (FSA) have executed an Exchange of Letters (EoL) to strengthen regulatory cooperation and information sharing on financial sector regulation, supervisory frameworks, and best practices. The EoL was signed on 26 June 2026 and exchanged during the 16th India–Japan Annual Summit in New Delhi.(03.07.2026) Read More »

Income Tax The CBDT has notified ‘Mussoorie Dehradun Development Authority’ (PAN: AAAAM4651Q), an authority constituted by the State Government of Uttarakhand, for the purposes of section 10(46) of the Income-tax Act, 1961, in respect of specified income arising to it, namely grants/loans/advances received from Government of Uttarakhand, fees/charges/income levied under the Uttarakhand Urban and Country …

Income Tax: The CBDT has notified ‘Mussoorie Dehradun Development Authority’ (PAN: AAAAM4651Q), an authority constituted by the State Government of Uttarakhand, for the purposes of section 10(46) of the Income-tax Act, 1961, in respect of specified income arising to it, namely grants/loans/advances received from Government of Uttarakhand, fees/charges/income levied under the Uttarakhand Urban and Country Planning and Development Act, 1973, income from disposal of lands, buildings and other movable and immovable properties, income from lease/rent, and interest on bank deposits.(03.07.2026) Read More »

Customs The CBIC has extended the transitional provisions under the Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018 up to 31st August, 2026. All message developments except Import Transhipment (ITP) messages covering Sea messages to Gateway Port (Arrival), Gateway port to foreign sea ports (Departure), and Gateway port to Inland Customs locations (Export Transhipment) will …

Customs: The CBIC has extended the transitional provisions under the Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018 up to 31st August, 2026. All message developments except Import Transhipment (ITP) messages covering Sea messages to Gateway Port (Arrival), Gateway port to foreign sea ports (Departure), and Gateway port to Inland Customs locations (Export Transhipment) will be fully operational with effect from 1st July, 2026. (03.07.2026) Read More »

Income Tax The CBDT has condoned the delay in filing Form No. 10AB electronically for renewal of approval under section 80G(5) by eligible funds and institutions whose approval expired on 31 March 2026. The delay has been condoned where Form No. 10AB was filed between 1 October 2025 and 31 March 2026. Further, applications rejected …

Income Tax: The CBDT has condoned the delay in filing Form No. 10AB electronically for renewal of approval under section 80G(5) by eligible funds and institutions whose approval expired on 31 March 2026. The delay has been condoned where Form No. 10AB was filed between 1 October 2025 and 31 March 2026. (03.07.2026) Read More »

Demand for GSTR-1 and GSTR-3B mismatch to be examined under sec. 73 post sec. 128A insertion sec. 74 order quashed { Zyvana Integrated Services (P.) Ltd. vs. Additional Commissioner of GST and Central Excise [2026] 187 taxmann.com 1062 (Madras)} Facts: Assessee disclosed outward supplies in GSTR-1 for the period from March 2018 to March 2021 …

Jucidicial Corner: Demand for GSTR-1 and GSTR-3B mismatch to be examined under sec. 73 post sec. 128A insertion sec. 74 order quashed { Zyvana Integrated Services (P.) Ltd. vs. Additional Commissioner of GST and Central Excise [2026] 187 taxmann.com 1062 (Madras)} (03.07.2026) Read More »

SCN and demand under GST invalid when issued to non-existent amalgamating company post-dissolution { Kanakia Spaces Realty (P.) Ltd. vs. Union of India [2026] 187 taxmann.com 1055 (Bombay)} Facts The transferor company merged with the petitioner under an approved amalgamation scheme and stood dissolved in 2015. The tax authorities were informed about the amalgamation and …

Judicial Corner: SCN and demand under GST invalid when issued to non-existent amalgamating company post-dissolution { Kanakia Spaces Realty (P.) Ltd. vs. Union of India [2026] 187 taxmann.com 1055 (Bombay)} (02.07.2026) Read More »

Ministry of Finance The Ministry of Finance has notified that the interest rates on various Small Savings Schemes for the second quarter of FY 2026–27 (1 July 2026 to 30 September 2026) shall remain unchanged from the rates applicable during the first quarter (1 April 2026 to 30 June 2026). The decision has been approved …

Ministry of Finanace: The Ministry of Finance has notified that the interest rates on various Small Savings Schemes for the second quarter of FY 2026–27 (1 July 2026 to 30 September 2026) shall remain unchanged from the rates applicable during the first quarter (1 April 2026 to 30 June 2026). The decision has been approved by the competent authority.(01.07.2026) Read More »

Home Affairs The Government has launched the FCRA 2.0 Portal and e‑OCI Card to enhance digital governance. The portal enables end‑to‑end online processing of foreign contribution compliance with faster approvals and better monitoring, while the e‑OCI system provides a fully digital, convenient solution for OCI cardholders. [PIB Release dated 30 June 2026]

Customs: The Ministry of Finance has amended Notification No. 13/2026-Customs dated 1 April 2026, which grants exemption from Agriculture Infrastructure and Development Cess (AIDC) on the import of Ammonium Nitrate. The amendment extends the validity of the exemption from 30 June 2026 to 15 July 2026, thereby ensuring the continued availability of the concessional AIDC …

Customs: The Ministry of Finance has amended Notification No. 13/2026-Customs dated 1 April 2026, which grants exemption from Agriculture Infrastructure and Development Cess (AIDC) on the import of Ammonium Nitrate. The amendment extends the validity of the exemption from 30 June 2026 to 15 July 2026, thereby ensuring the continued availability of the concessional AIDC rate in public interest.(01.07.2026) Read More »

Customs The Ministry of Finance has amended Notification No. 12/2026-Customs dated 1 April 2026, which grants Basic Customs Duty (BCD) exemption on the import of specified chemicals, petrochemicals, polymers and plastic raw materials. The amendment extends the validity of the exemption from 30 June 2026 to 15 July 2026, thereby ensuring the continued availability of …

Customs: The Ministry of Finance has amended Notification No. 12/2026-Customs dated 1 April 2026, which grants Basic Customs Duty (BCD) exemption on the import of specified chemicals, petrochemicals, polymers and plastic raw materials. The amendment extends the validity of the exemption from 30 June 2026 to 15 July 2026, thereby ensuring the continued availability of concessional import duty on the notified goods in public interest. (01.07.2026) Read More »

GSTAT: The Government has extended the GSTAT filing deadline to 31 July 2026 for taxpayer appeals against orders communicated before 1 May 2026 and departmental applications relating to orders passed before 1 February 2026. [Notification S.O. 3502(E)-DoR dated 30.06.2026]

DGFT: The eligibility timelines under Component II of the EPM RELIEF intervention are extended up to 30th September 2026 to support Indian exporters and mitigate logistics challenges arising out of the continuing West Asia Crisis. [Notification No. 21/2026-27 dated 29.06.2026]

Customs: Updated tariff values for Edible oils, gold, silver, and areca nuts have been notified. Changes apply from 30th June 2026. [Notification No. 59/2026-CUSTOMS (N.T.) dated 29.06.2026]