Budget’ 2026 Indirect tax Customs duty Policy changes The Finance Bill, 2026 retains the median rate of Basic Customs Duty at 10%, reflecting continuity in the overall Customs Tariff policy while enabling targeted duty rationalisation for select sectors in line with domestic manufacturing and trade facilitation. Customs Tariff Act Rate movement The following changes will be effective from February 2, […]
January 2026 – Tax Calendar 7th Jan Due date for deposit of Tax deducted/collected for the month of December, 2025 7th Jan Due date for deposit of TDS for the period October 2025 to December 2025 when the Assessing Officer has permitted quarterly deposit of TDS under Sections 192, 194A, 194D or 194H. 14th Jan Due date for issue of […]
Important Judicial Precedents Non-compete fee paid to restrict competition held allowable as revenue expenditure under sec. 37(1): SC [2025] 181 taxmann.com 657 (SC) Sharp Business System vs. Commissioner of Income-tax Where assessee paid a non-compete fee to restrain another party from operating in same business segment, such payment merely protected or enhanced assessee’s business profitability and facilitated more efficient conduct […]
Indirect Tax News Letter GST Calendar –Compliances for the month of December ’2025 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) January 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) January 10, 2026 GSTR-1 January 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) January 13, 2026 GSTR-6 Input Service Distributor January 13, 2026 GSTR-2B (Auto Generated Statement) […]
Japan’s MUFG Bank To Buy 20% Stake In Shriram Finance In Largest Foreign NBFC Bet Japan’s MUFG Bank will acquire a 20% stake in Shriram Finance for $4.4 billion (Around INR 39,618 crores) through a preferential allotment, marking the largest foreign investment in India’s financial services sector. Shriram Finance will issue 47.1 crore shares at INR 840.9 per share, subject […]
Brookfield REIT To Acquire Bengaluru’s Ecoworld For $1.5 Bn Brookfield India Real Estate Trust, a publicly listed entity sponsored by Brookfield, has signed an agreement to acquire 100% of Ecoworld for $1.5 billion (around INR 13,412 crores). Ecoworld is a 7.7 million sq. ft. office campus on 48 acres along Bengaluru’s Outer Ring Road, leased to global capability centers […]
GST Calendar –Compliances for the month of November ’2025 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) December 10, 2025 GSTR-8 (Tax Collected at Source ‘TCS’) December 10, 2025 GSTR-1 December 11, 2025 IFF- Invoice furnishing facility (Availing QRMP) December 13, 2025 GSTR-6 Input Service Distributor December 13, 2025 GSTR-2B (Auto Generated Statement) December 14, […]
Important Judicial Precedents Writ challenging order passed by AO under section 148A(d) maintainable despite alternate appeal remedy: HC [2025] 180 taxmann.com 207 (SIKKIM-HC) Zydus Healthcare Ltd vs. ACIT Section 246A, read with section 148A, of the Income-tax Act, 1961 – Commissioner (Appeals) – Appealable orders (Order under section 148A(d)) – Whether section 246A(1)(b) provides scope for appeal against order under section 148A(d) […]
7th Dec Due date for deposit of Tax deducted/collected for the month of October, 2025 10th Dec [Extended]* Due date for filing of return of income for the assessment year 2025-26 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or […]
GST in India continues to evolve, and 2025 brings several major amendments that impact pricing, billing, ITC claims, compliance, and day-to-day business operations. For companies of all sizes, staying updated with GST amendments and the latest GST news is no longer optional — it is essential for ensuring accuracy, avoiding penalties, and maintaining healthy cash flow.This guide breaks down the […]