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CA Corner

Delhi tax tribunal rules independent business support provided to foreign affiliates is not intermediary service

The Delhi bench of the Goods and Services Tax Appellate Tribunal has held that independent business support services supplied to overseas entities do not qualify as intermediary services. This classification protects exporters from unexpected tax demands on foreign remittances. Tax professionals should evaluate similar client arrangements against this ruling.

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Taxguru3m ago 1 min
GST

Thiruvananthapuram tax tribunal allows capital goods input tax credit despite historical form omissions

The Thiruvananthapuram bench of the Goods and Services Tax Appellate Tribunal ruled that input tax credit on capital goods cannot be denied due to non-compliance with pre-GST Form 25B requirements. Businesses facing historic procedural objections can rely on this decision to secure their transitional tax credits. Tax advisors should examine past credit reversals for affected manufacturing clients.

Scrips: ITC

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Taxguru3m ago 1 min
Markets Breaking

Stock Market Outlook: History favours bulls in November, but can Nifty rally despite global headwinds?

Historical trends indicate positive average gains for the Nifty 50 index during November. While domestic festive demand and portfolio positioning offer support, ongoing foreign capital outflows, elevated crude oil prices, and global uncertainties may restrict the market upside. Investors should balance seasonal optimism with macroeconomic reality.

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LiveMint Markets4m ago 1 min
RBI/SEBI Govt Breaking

Calcutta High Court Rules FERA Penalty Appeals Are Criminal Matters

The Calcutta High Court has ruled that challenges against penalties under the old foreign exchange law can be pursued as criminal appeals. This decision applies even though the Foreign Exchange Regulation Act was later replaced by the Foreign Exchange Management Act.

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Taxguru5m ago 1 min
GST

Ernakulam GSTAT Protects Input Tax Credit Despite GSTR-2A Timeline Mismatches

The Ernakulam bench of the Goods and Services Tax Appellate Tribunal has ruled that tax credit cannot be rejected simply because purchase invoices show up in an earlier auto-populated statement. The tribunal protected the taxpayer's claim despite procedural timing mismatches.

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Taxguru6m ago 1 min
GST

Thiruvananthapuram GSTAT Voids Tax Demands Initiated Against Deceased Proprietors

The Thiruvananthapuram bench of the Goods and Services Tax Appellate Tribunal ruled that tax proceedings against a dead business owner are invalid if notices are not served to legal heirs. The tribunal invalidated the proceedings due to this procedural lapse.

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Taxguru7m ago 1 min
CA Corner

Allahabad CESTAT Quashes Service Tax Demand on Manufacturer Dealer Incentives

The Allahabad Customs, Excise and Service Tax Appellate Tribunal has ruled that commercial incentives given to dealers without any separate service provision are not subject to service tax. The tribunal set aside the department's tax demand against the taxpayer.

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Taxguru8m ago 1 min
Markets

HEG Advanced Materials Shares Surge Twenty Percent Following Strong Quarterly Earnings Report

HEG Advanced Materials shares hit the twenty percent upper circuit, marking their largest single-day gain in eight years. The rally followed robust September-quarter financial results, featuring four hundred thirty crore rupees in continuing-operations revenue and two thousand eighty-nine crore rupees in profit.

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LiveMint Markets9m ago 1 min
RBI/SEBI Govt Breaking

Reserve Bank of India eases foreign exchange rules for service exporters and independent professionals

The Reserve Bank of India has updated foreign exchange regulations to ease compliance for service providers. Resident individuals now receive automatic compliance status unconditionally. Other service exporters benefit up to a limit of ten lakh rupees.

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Taxscan12m ago 1 min
CA Corner

CESTAT Allahabad rules coal movement combined with incidental loading is not cargo handling

The Allahabad bench of the Customs, Excise and Service Tax Appellate Tribunal determined that transporting coal along with incidental loading activities does not qualify as cargo handling service. This decision offers clarity on service tax classifications for industrial logistics and transport operations.

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Taxguru12m ago 1 min
Global Finance

Stock Futures Rise as U.S. Midterm Election Results Point Toward Policy Shifts

Stock futures climbed as investors monitored the 2026 United States midterm election results. Traders positioned their portfolios on expectations that Democratic election victories could slow down the rapid pace of data center construction.

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CNBC Global12m ago 1 min
GST

GSTAT Lucknow rules Part-B of electronic way bill is unnecessary for short distance transits

The Lucknow bench of the Goods and Services Tax Appellate Tribunal held that completing Part-B of an electronic way bill is not compulsory for initial transport movements within fifty kilometers. The ruling provides relief to businesses managing local goods transit.

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Taxguru12m ago 1 min

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