CESTATtax
Currency Cannot Be Confiscated Merely on Suspicion of Smuggled Goods
In a recent ruling, the CESTAT stated that currency cannot be seized based on mere suspicion of smuggling; a clear nexus must be established.
May 14, 2026Read more →
Court News
Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
CESTATtax
CESTAT Holds Liquidated Damages of BrahMos Aerospace Non-Taxable
The CESTAT has ruled that the liquidated damages received by BrahMos Aerospace do not constitute taxable consideration under service tax laws.
May 14, 2026Read more →
GSTtax
Flipkart's Delivery Model Treated as Courier Service, Not GTA
The AAAR has ruled that Flipkart’s hub-based collection and doorstep delivery resembles a courier service rather than a Goods Transport Agency (GTA) service, applicable to 18% GST.
May 14, 2026Read more →
CESTATtax
CESTAT Rules Sugar Syrup in Biscuit Production Not Excisable
The CESTAT has ruled that sugar syrup used in biscuit production is not excisable, rejecting the classification as invert sugar.
May 14, 2026Read more →
Customstax
Customs Duty Raised on Precious Metal Findings
India has increased customs duties on precious metals, including a 5% tax on gold and silver, marking a significant shift in the customs duty framework.
May 14, 2026Read more →
CESTATtax
CESTAT Upholds Denial of Cenvat Credit Against Acculife Healthcare
The CESTAT ruled that the countervailing duty (CVD) paid voluntarily by Acculife Healthcare was not eligible for Cenvat credit as it was not based on a specific demand.
May 14, 2026Read more →
Reserve Bank of Indiabankingcorporate
Issuance of Foreign Exchange Management Regulations, 2026
The RBI has announced the issuance of the Foreign Exchange Management (Authorised Persons) Regulations, 2026, aimed at rationalising the framework for authorising persons under the Foreign Exchange Management Act.
May 14, 2026Read more →
Reserve Bank of Indiabankingcorporate
RBI's Fifth Amendment Directions on Capital Adequacy for Commercial Banks
The Reserve Bank of India issued the Fifth Amendment Directions concerning capital adequacy norms for commercial banks on May 8, 2026. This update is crucial for enhancing the financial stability of the banking sector.
May 14, 2026Read more →
Reserve Bank of Indiabankingcorporate
RBI Updates Capital Adequacy Norms for Small Finance Banks
The RBI has released the fourth amendment directions for Small Finance Banks regarding capital adequacy requirements, effective May 8, 2026. These amendments reflect the regulatory body's ongoing efforts to strengthen financial stability.
May 14, 2026Read more →
Reserve Bank of Indiabankingcorporate
Amendments to Prudential Norms on Capital Adequacy for Payments Banks
The Reserve Bank of India has announced amendments to the Prudential Norms on Capital Adequacy for Payments Banks, detailed in the second amendment directions issued on May 8, 2026. These changes aim to enhance the regulatory framework for financial stability.
May 14, 2026Read more →
Reserve Bank of Indiabankingcorporate
RBI Framework for Outward Remittance Services by Non-Bank Entities
The Reserve Bank of India (RBI) has issued a new circular outlining the operating framework for non-bank entities to facilitate outward remittance through Authorized Dealer (Category I) banks in India. This framework is part of ongoing regulatory amendments aimed at streamlining foreign exchange services.
May 14, 2026Read more →
Reserve Bank of Indiabankingcorporate
RBI Approves Amalgamation of Banks in Maharashtra
The Reserve Bank of India has sanctioned the voluntary amalgamation of The Bhavani Sahakari Bank Ltd. with TJSB Sahakari Bank Ltd. in Maharashtra, effective May 4, 2026.
May 14, 2026Read more →