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July Court Room Series

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GST COURT ROOM SERIES Interest and Penalty Cannot Travel Beyond the Show Cause Notice? Analysis of the Delhi High Court decision in Sh. Bhupender Kumar Proprietor of M/s  Dabas Construction Co. vs. The Commissioner, GST, West Delhi & Another W.P.(C) 1184/2026 , HC-16-642, dt. 11.5.26 Facts The petitioner, a sole proprietor engaged in construction activities, was issued a Show Cause Notice (SCN) dated 29 December 2023 by the GST Department alleging wrongful availment of Input Tax Credit (ITC) relating to Financial Year 2018-19. According to the department, the ITC availed by the petitioner was inadmissible in view of Section 16(4) of the Central Goods and Services Tax Act, 2017, as the credit had been claimed beyond the prescribed time limit. The department further alleged that although the petitioner ultimately reversed the disputed ITC, such reversal was made only in December 2023, nearly four years after the relevant tax period. The petitioner challenged the proceedings p...
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July Income Tax Update

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                                                                                                                                                         - CA Chaitanya Kumar Income tax Update: CBDT Circular No. 06/2026: Relief for Delay in Filing Form 10AB for Renewal of Section 80G Approval The Central Board of Direct Taxes (CBDT) has issued Circular No. 06/2026 granting relief to charitable trusts and institutions that could not file Form No. 10AB within the prescribed time for renewal of approval under Section 80G(5) of the Income-tax Act. Background Institutions enjoying approval under Section 80G are ...
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JULY GST Update

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        GST Update:  GSTN Advisory: Advisory on Revision of Timeline for Amendment of Aggregate Annual Turnover (AATO), 2026 ⃝ GSTN has revised the timeline for amendment of Aggregate Annual Turnover (AATO) for FY 2025-26. ⃝   The change is due to a system upgrade that will automatically update AATO as subsequent  GST returns are filed. The enhanced functionality is being implemented from 1 July 2026. ⃝   Earlier, taxpayers could amend their AATO during the month of May. ⃝   For FY 2025-26, the amendment window has been shifted to 1 July to 31 July 2026. Taxpayers can submit their AATO amendment applications only during this revised period.  The jurisdictional Tax Officer will verify the amended AATO between 1 August and 15  August 2026. ⃝   The revised process aims to improve consistency, accuracy, and uniformity of AATO across  the GST Portal. ⃝  Taxpayers should carefully verify the turnover details before su...
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Consequences of Missing the ITR Filing Due Date — CoralMetrix Coral Metrix Issue 17  ·  Student Series — Income Tax Consequences of Missing the ITR Filing Due Date Shruthi Krishna Tax Consultant, CoralMetrix 31st July: The Day Your Taxes Are Due, And Your Excuses Are Not. Filing an ITR within the due date defined by the Income Tax Act of 1961 is a fundamental compliance requirement. Yet, each year, numerous taxpayers forget, file late, or deliberately fail to submit their returns on time. Many believe that having paid the correct amount of tax fulfils their obligations — treating the ITR as a mere formality. This is a costly misconception. The ITR is a separate and independent compliance requirement under the Income Tax Act. Failure to file on time can trigger a series of financial, procedural, and in extreme cases, criminal consequen...
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Benefits of Filing an ITR — CoralMetrix Issue 15 CoralMetrix Issue 15 Benefits of Filing an Income Tax Return (ITR) More Than Just Tax Compliance Pathikonda Shivani Sreenath Direct Tax, CoralMetrix An Income Tax Return (ITR) is a document through which a taxpayer reports income earned during a financial year, claims eligible deductions, computes tax liability, and pays any tax due — or claims a refund. In India’s self-assessment system, taxpayers voluntarily disclose income in accordance with the Income-tax Act, 1961. With online filing, pre-filled forms, AIS, and TIS, the process is now faster and more transparent than ever. Who Should File an ITR? Individuals whose income exceeds the basic exemption limit Companies, firms, and other entities under the Act Taxpayers claiming refund of excess TDS/TCS paid ...
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Foreign Asset Schedule FA Disclosure – CoralTax.ai CoralTax.ai TAX MADE SIMPLE INTERNATIONAL TAXATION · COMPLIANCE GUIDE Foreign Asset Schedule Disclosure: Everything Indian Residents Need to Know A complete walkthrough of Schedule FA, why it exists, who must file it, what the law says under the Income Tax Act 1961 and the Income Tax Act 2025, and the court cases that have shaped how it is enforced today. Ashrith Bharath Finance Intern, CoralTax.ai Published on CoralTax.ai  ·  8 minute read  ·  Reviewed for accuracy Schedule FA — India's framework for reporting foreign assets held by resident taxpayers E very year, lakhs of Indian residents open bank accounts abroad, invest in foreign stocks, hold shares from employee stock plans of overseas employers, or simply inherit a property in another country. Most assume that as long as the income from these assets is ...
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Court Room Series: IN THE SUPREME COURT OF INDIA CIVIL / CRIMINAL APPELLATE JURISDICTION AND ORIGINAL JURISDICTION CIVIL APPEAL NO(S). 8241 – 8244 OF 2026 [ARISING OUT OF SLP (C) NOS. 19366 – 19369 OF 2023] DIRECTORATE GENERAL OF GOODS AND SERVICES TAX INTELLIGENCE (HQS) & ORS. … APPELLANT(S) VERSUS GAMESKRAFT TECHNOLOGIES PRIVATE LIMITED AND ORS.   1. Facts of the Case The controversy originated from a show cause notice dated 23 September 2022 issued by the Directorate General of GST Intelligence (DGGI) to Gameskraft Technologies Pvt. Ltd., an online gaming platform facilitating rummy and other skill-based games played for stakes. The Department alleged that Gameskraft was supplying actionable claims in the nature of betting and gambling and was therefore liable to GST at 28% on the entire stake amount deposited by players rather than merely on the platform fee retained by the company. The demand exceeded ₹21,000 crore including tax, interest and penalt...
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