Recap of Latest updates posted on 01.08.2026
Punjab Finance, Excise and Taxation Minister Harpal Singh Cheema on Friday announced that the Punjab One Time Settlement (OTS-2025) Scheme for resolving pre-GST tax arrears has received an overwhelmingly positive response from taxpayers.
PAN misuse? Cobbler receives Rs 6.79 crore GST notice for firm he denies owning
A cobbler from Rajasthan’s Balotra district was left stunned after receiving a GST recovery notice of nearly Rs 6.79 crore, allegedly linked to a company he claims he never owned or operated.
No 10% pre-deposit required on any Penalty-only order from SCN issued prior to October 01, 2025
The Hon’ble Delhi High Court in Gaurav Jain & Anr. held that the proviso to Section 107(6) of the CGST Act, as substituted with effect from October 01, 2025, mandating pre-deposit of ten (10%) per cent of the penalty for filing an appeal against an order demanding penalty without involving any demand of tax, …
The Hon’ble Madras High Court in KPR Enterprises dismissed the writ petitions challenging the assessment orders passed under Section 74 of the TNGST Act and held that where the assessee has paid a huge amount towards seigniorage fee but has under-declared the value of outward supply in Form GSTR-1, a prima facie case is made out for invocation of the extended period of limitation under Section 74 of the CGST Act, since the expression used in both Section 73 and Section 74 of the CGST Act is “where it appears”.
Interest on Delayed Payment of GST Arises by Operation of Law and Cannot be Waived by Courts
The Hon’ble Karnataka High Court in The Commissioner of Central Tax & Ors. set aside the order passed by the Learned Single Judge to the extent it issued blanket directions to the Revenue to waive interest, penalty, and the limitation for filing returns/revised returns in respect of delayed returns and payment of tax by a sub-contractor…
CBIC readies rules to facilitate filing of multi-state GST appeals
The Central Board of Indirect Taxes and Customs is preparing a framework for streamlining the process for departmental appeals in cases involving more than one state, bringing greater clarity for field formations filing appeals, said officials.
Over 5.9 crore income tax returns filed by July 31 for AY27 as deadline closes
More than 5.9 crore income tax returns (ITRs) were filed by taxpayers for the assessment year (AY) 2026-27 by July 31, marking the close of the due date for individuals and Hindu Undivided Families (HUFs) not requiring an audit of their accounts.
Union Government releases tax devolution of ₹1,09,019 crore to State Governments
The Union Government has released additional instalment of tax devolution to State Governments amounting to Rs. 1,09,019 crore on 1st August 2026, which is in addition to the normal monthly devolution to be released on 10th August 2026.
Continuing its sustained drive against organised smuggling networks and transnational trafficking syndicates, the Directorate of Revenue Intelligence (DRI) has carried out a series of intelligence-led operations across the country during the week..
Share this content:
