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The Supreme Court has held that statutory appeals under the Insolvency and Bankruptcy Code must ordinarily take precedence over writ remedies. This ruling directs litigants to utilize established appellate forums rather than approaching high courts directly for relief under constitutional provisions.
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The NCLAT Delhi has ruled that a penal interest claim amounting to Rs 14,391 crore does not constitute a financial debt under the Insolvency and Bankruptcy Code. This decision provides clarity on what obligations can be classified as financial debt during corporate insolvency proceedings.
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The Tamil Nadu government has amended the Goods and Services Tax Act to modify rules governing post-supply discounts, credit notes, tax refunds, and advance rulings. These legislative adjustments feature varying implementation dates across the revised provisions to align state laws with broader tax administration updates.
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The Karnataka High Court quashed an income tax reassessment notice tied to a Rs 60 lakh property purchase because the final taxable addition was restricted to Rs 10 lakh. This amount fell below the statutory monetary threshold required under Section 149 for reopening assessments beyond three years.
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The Karnataka High Court quashed an ex parte Goods and Services Tax adjudication order issued under Section 74 after accepting that severe illness, surgery, and prolonged medical treatment prevented the taxpayer from responding to the show cause notice. The court granted the taxpayer a fresh opportunity to present their case.
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The Karnataka High Court ordered the restoration of a Goods and Services Tax appeal that had been rejected for failing to submit a certified copy of the order. The court applied the amended Rule 108(3), which governs documentary submission norms when orders are unavailable on the portal.
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The Tamil Nadu government has launched short-term power procurement tenders to manage surging electricity demand from January to June, capping procurement at the lowest monthly bids. Approved rates will range between Rs 9.50 and Rs 13 per unit, while long-term power tenders will also be issued for the first time since 2014.
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The Karnataka High Court has ordered the restoration of a Goods and Services Tax appeal that was initially dismissed due to a 226-day delay in filing. This decision allows the taxpayer to pursue their statutory appeal on merits despite the delay.
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The Central Board of Indirect Taxes and Customs has updated the customs tariff values for gold, silver, various edible oils, and brass scrap. These revised benchmarks take effect from 14 November 2026 under the issued official notification. Tax professionals and importers must account for these new baseline values when calculating duty liabilities.
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The government has authorized Customs authorities to extend the standard four-month ATA Carnet re-export period. This extension can be granted up to the ultimate validity date of the ATA Carnet document itself. The update is operationalized through the provisions of Customs Notification 36/2026.
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Specific anti-dumping duty exclusions have been tied to mandatory compliance with the IGCR Rules, 2022. This regulatory change is enforced via Customs Notification 28/2026-Customs (ADD). Importers must follow these updated compliance procedures to maintain their duty exemptions.
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The Directorate General of Foreign Trade has rolled out electronic Certificate of Origin issuance for the India-New Zealand Free Trade Agreement. This digital process operates through the Trade Connect ePlatform starting from 20 October 2026. Exporters utilizing this trade pact must transition to the new electronic filing system.
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