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The Punjab and Haryana High Court declared a GST arrest illegal because the required reasons under Section 69 were recorded by an Inspector instead of the Commissioner. The court also examined issues related to Document Identification Number (DIN) defects during the proceedings.
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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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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.
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State Bank of India is emphasizing sustainable profitability over aggressive risk-taking to elevate earnings for fiscal year 2027. This cautious outlook created a noticeable gap between ongoing performance and official projections, which likely mirrors underlying macroeconomic and operational uncertainties.
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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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Bayer CropScience Limited posted an 8.84 percent growth in net profit, reaching Rs 166.2 crore for the second quarter of fiscal year 2027. Total income decreased by 19.4 percent year-over-year due to market headwinds and erratic monsoon patterns that hurt sowing and crop protection demand. The board declared an interim dividend of Rs 90 per share.
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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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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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Saregama India posted a 46.4 percent jump in consolidated net profit for the September quarter, alongside a 36.63 percent increase in operational revenue. The music segment brought in Rs 251.3 crore, while live events performed exceptionally well, pushing total income for the first half of fiscal year 2027 to Rs 587.28 crore.
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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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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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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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