For the first time, GST officials monitored horse sales at Rajasthan's Pushkar Fair, applying 5% GST on transactions above Rs 40 lakh. Authorities said no horse has sold beyond Rs 10 lakh despite viral social media claims.
Aishwarya Rai Bachchan wins Rs 4 crore income tax case at ITAT Mumbai as the tribunal rules in her favour on Section 14A disallowance. The judgment clarifies how tax officers must record satisfaction before applying Rule 8D on exempt income expenses.
Two women traders in Lucknow have been booked for evading Rs 2.56 crore in GST by creating a fake firm, Gorupan Enterprises. The State Tax Department discovered the firm's address and contact details to be bogus.
ICAI, in its Pre-Budget 2026-27 suggestions, has proposed optional joint taxation for married couples to promote fairness and family welfare.
GST collections slowed to 4.6% in October as 20 states saw declines, reflecting transition effects from the new GST 2.0 rate reform introduced in September.
Finance Minister Nirmala Sitharaman unveils plans for next-generation customs reforms, fiscal stability and India's roadmap to becoming a top global economy.
CBIC clarifies that businesses storing goods in warehouses located in other States must obtain separate GST registration. The clarification outlines GST liability, invoicing, place of supply and compliance requirements under the CGST and IGST Acts.
CBDT grants income tax exemption to Karnataka Housing Board under Section 10(46A) of the Income Tax Act, effective from AY 2024-25. The notification ensures no adverse impact from its retrospective application.
The Income Tax Department has withdrawn its Rs 8,500 crore transfer pricing case against Vodafone India Services Pvt. Ltd., ending a decade-long dispute linked to a 2008 business restructuring.
CAT, Cuttack, has imposed a Rs 20,000 cost on a CBIC officer for non-compliance in the suspension case of Deepak Niranjan Nath Pandit, directing submission of a full compliance report or personal appearance on December 11, 2025.
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