Daily Updates

DGFT: Stakeholders should exercise heightened caution and conduct due diligence before trading with M/s Julfikar Fashions Limited, Mirpur, Bangladesh, due to an unresolved trade dispute and lack of cooperation from the firm (21.10.2026)

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DGFT: Stakeholders should exercise heightened caution and conduct due diligence before trading with M/s Julfikar Fashions Limited, Mirpur, Bangladesh, due to an unresolved trade dispute and lack of cooperation from the firm [Trade Notice No. 31/2026-27 dated 21-10-2026]

Income Tax: The CBDT has inserted Rule 281A in the Income-tax Rules, 2026, prescribing Form No. 173A for Foreign Institutional Investors and the Bank for International Settlements to claim exemptions on interest and capital gains from Government securities under Schedule IV (Table: Sl. Nos. 13D and 13E) of the Income-tax Act, 2025 (21.10.2026)

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Income Tax: The CBDT has inserted Rule 281A in the Income-tax Rules, 2026, prescribing Form No. 173A for Foreign Institutional Investors and the Bank for International Settlements to claim exemptions on interest and capital gains from Government securities under Schedule IV (Table: Sl. Nos. 13D and 13E) of the Income-tax Act, 2025 [Notification No. 137/2026 …

Income Tax: The CBDT has inserted Rule 281A in the Income-tax Rules, 2026, prescribing Form No. 173A for Foreign Institutional Investors and the Bank for International Settlements to claim exemptions on interest and capital gains from Government securities under Schedule IV (Table: Sl. Nos. 13D and 13E) of the Income-tax Act, 2025 (21.10.2026) Read More »

Income Tax: The CBDT has notified nil TDS under section 393 of the Income-tax Act, 2025 on interest paid by the New Development Bank (NDB) to holders of its Maharajah INR Bonds who are residents or Foreign Institutional Investors under section 210(6). NDB must furnish the prescribed information under Schedule VII to the Act. The relief covers payments from tax year 2026-27 onwards and takes effect from 19 October 2026. (21.10.2026)

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Income Tax: The CBDT has notified nil TDS under section 393 of the Income-tax Act, 2025 on interest paid by the New Development Bank (NDB) to holders of its Maharajah INR Bonds who are residents or Foreign Institutional Investors under section 210(6). NDB must furnish the prescribed information under Schedule VII to the Act. The …

Income Tax: The CBDT has notified nil TDS under section 393 of the Income-tax Act, 2025 on interest paid by the New Development Bank (NDB) to holders of its Maharajah INR Bonds who are residents or Foreign Institutional Investors under section 210(6). NDB must furnish the prescribed information under Schedule VII to the Act. The relief covers payments from tax year 2026-27 onwards and takes effect from 19 October 2026. (21.10.2026) Read More »

GST: Taxpayers with a ₹5 crore+ turnover can now test generating official e-invoice numbers (IRNs) for self-invoices on reverse-charge purchases from unregistered suppliers and foreign services. The scope, applicability and effective date of implementation is yet to be notified by the government. (16.10.2026)

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GST: Taxpayers with a ₹5 crore+ turnover can now test generating official e-invoice numbers (IRNs) for self-invoices on reverse-charge purchases from unregistered suppliers and foreign services. The scope, applicability and effective date of implementation is yet to be notified by the government. [GSTN Advisory dated 16-10-2026]

Judicial Corner:Departmental Appeal Held Non-Maintainable for Failure to Meet the Prescribed Monetary Threshold under Section 120 of the CGST Act (16.10.2026)

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Departmental Appeal Held Non-Maintainable for Failure to Meet the Prescribed Monetary Threshold under Section 120 of the CGST Act{ Sandeep Tiwari vs. Ankita Gupta [2026] 191 taxmann.com 236 (GSTAT – GHAZIABAD)} Facts The Department filed an appeal before the Goods and Services Tax Appellate Tribunal (GSTAT), Ghaziabad, challenging an order passed by the First Appellate …

Judicial Corner:Departmental Appeal Held Non-Maintainable for Failure to Meet the Prescribed Monetary Threshold under Section 120 of the CGST Act (16.10.2026) Read More »

Income Tax:The CBDT has notified the Protocol amending the India-Mauritius Double Taxation Avoidance Agreement (DTAA), signed on March 07, 2024, under section 159(1) of the Income-tax Act, 2025. The Protocol inserts a new Article 27B on Entitlement to Benefits, which denies treaty benefits where obtaining them was one of the principal purposes of an arrangement or transaction, unless granting them would be consistent with the object and purpose of the treaty.(15.10.2026)

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Income Tax: The CBDT has notified the Protocol amending the India-Mauritius Double Taxation Avoidance Agreement (DTAA), signed on March 07, 2024, under section 159(1) of the Income-tax Act, 2025. The Protocol inserts a new Article 27B on Entitlement to Benefits, which denies treaty benefits where obtaining them was one of the principal purposes of an …

Income Tax:The CBDT has notified the Protocol amending the India-Mauritius Double Taxation Avoidance Agreement (DTAA), signed on March 07, 2024, under section 159(1) of the Income-tax Act, 2025. The Protocol inserts a new Article 27B on Entitlement to Benefits, which denies treaty benefits where obtaining them was one of the principal purposes of an arrangement or transaction, unless granting them would be consistent with the object and purpose of the treaty.(15.10.2026) Read More »

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