Latest update 05.07.2026

Recap of Latest updates posted on 04.07.2026

9 YEARS OF GST- ACHIEVEMENTS AND CHALLENGES IN THE GST REGIME

The GST regime has been completed nine years of its journey from the day of implementation.

Notification no. 74/2026 dated 03.07.2026- Income tax

CBDT issued notification no. 74/2026 dated 03.07.2026 vide which the Central Government hereby specifies that no deduction of tax shall be made under section 393(1)[Table S.No. 2] of the said Act on payment in the nature of lease rent or supplemental lease rent

Notification no. 75/2026 dated 03.07.2026- Income tax

CBDT issued notification no. 75/2026 dated 03.07.2026 whereby the Central Government hereby specifies that no deduction of tax shall be made under section 393(1)[Table S.No.2] of the said Act on payment in the nature of lease rent or supplemental lease rent

Tax Cuts and Assured Demand Vital To Scale India’s Biogas Sector: CII Report

Achieving the government’s target of 5,000 compressed biogas (CBG) plants producing 15 million metric tonnes annually by 2030 will require a fundamental transition to a market-driven renewable gas economy, underpinned by GST rationalisation

Tax department steps up scrutiny of charitable trusts over disclosure mismatches

The Income Tax Department has intensified scrutiny of charitable trusts and non-profit organisations, seeking granular details on utilisation of funds, governance practices and charitable activities

Interest Liability on Delayed Payment of GST Arises by Operation of Law and Cannot be Waived or Reduced by the Court

The Hon’ble Karnataka High Court in The Commissioner of Central Tax & Ors., set aside the Single Judge’s order to the extent it issued blanket directions to the Revenue to waive penalty, interest, or the limitation for filing returns/revised returns…

Fresh GST Proceedings Can Be Initiated Against Legal Heirs of a Deceased Proprietor, Even Where No Notice Was Issued During His Lifetime

The Hon’ble Madras High Court in the case of V. Damayanti dismissed the writ petition filed by the legal heir of the deceased proprietor and upheld the demand initiated under Section 74 of the Central Goods and Services Tax Act, 2017

Cancellation of GST Registration without recording reasons is a non-speaking order liable to be quashed

The Hon’ble Gauhati High Court in the case of Nijumoni Gogoi set aside the order passed by the Proper Officer cancelling the GST registration of the Assessee on the ground that the impugned order was a non-speaking..

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