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SEBI clarifies banks and brokers face no offshore fund tax liability easing foreign fund launches

SEBI clarifies banks and brokers face no offshore fund tax liability easing foreign fund launches

SEBI has clarified that Indian banks and brokers will not be held liable for taxes owed by offshore funds, as two sources familiar with the development said. The move removes a key compliance hurdle that had slowed fund launches after earlier fears that local representatives could face penalties for clients tax demands. The clarification is expected to unblock new foreign investments.

Summarised by Beize from a story on Republic on 13 May 2026
Missed GST return filing could suspend your registration courts warn after 2022 amendment

Missed GST return filing could suspend your registration courts warn after 2022 amendment

If you miss GST return deadlines, your registration may be suspended, even for relatively short delays. A 2022 amendment changed enforcement by giving authorities greater flexibility, moving away from a strict six-month non-filing requirement. Businesses report disruptions as they try to resolve notices, with experts urging clearer timelines and stronger appeal guidance to limit uncertainty.

Summarised by Beize from a story on The Economic Times on 9 May 2026

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Sebi seeks CBDT nod to fix FPI tax compliance by changing authorized signatories

Sebi seeks CBDT nod to fix FPI tax compliance by changing authorized signatories

Sebi is in talks with the CBDT to simplify FPI tax compliance. The regulator is proposing a framework that lets foreign portfolio investors appoint authorized signatories themselves, easing a key procedural hurdle. If approved, the change could reduce friction for FPIs dealing with tax-related documentation and compliance requirements across Indian markets.

Summarised by Beize from a story on The Economic Times on 28 Apr 2026
Mad Over Donuts battles Bombay HC over whether cookie sales deserve 18 GST

Mad Over Donuts battles Bombay HC over whether cookie sales deserve 18 GST

Mad Over Donuts is facing a fresh legal challenge after the Bombay High Court issued notice over its GST treatment, with regulators alleging the company has been charging incorrectly. The dispute raises a wider question for eateries selling packaged foods like cookies, chocolates, and bread: should these items attract 18% GST or a different tax rate?

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India plans deeper crypto oversight by probing exchanges for tax compliance on evolving trades

India plans deeper crypto oversight by probing exchanges for tax compliance on evolving trades

India is in discussions with cryptocurrency exchanges to understand how trading activity is evolving, a top tax official said. The move aims to build oversight over newer crypto products while ensuring tax compliance as regulations and market practices shift. The government wants clearer insight into transactions and activity patterns, rather than reacting after the fact.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget announces six month amnesty for undisclosed foreign assets with a one time settlement fee

Budget announces six month amnesty for undisclosed foreign assets with a one time settlement fee

The Budget proposes a six-month mini amnesty window for individuals who hold undisclosed foreign assets. Eligible taxpayers can declare previously non-disclosed assets acquired with earnings already disclosed, by paying a fee. The move is designed to help small taxpayers, including students and relocated NRIs, regularize past omissions while reducing the risk of penalties and prosecution for minor violations.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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CBIC clarifies GST on notice period payments cheque dishonour and other fees businesses cite daily

CBIC clarifies GST on notice period payments cheque dishonour and other fees businesses cite daily

CBIC has issued a circular explaining how GST applies to payments received for tolerating an act, including amounts tied to notice period non compliance, non compete fees, utility late payment charges, and cancellation charges by sectors like railways and airlines. The clarification also addresses scenarios such as cheque dishonour, aiming to reduce disputes over whether such collections fall under GSTable transactions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Income tax portal revamp lets taxpayers file old and new rules from one website

Income tax portal revamp lets taxpayers file old and new rules from one website

The Income Tax Department has unveiled a revamped e-filing portal designed for the shift to the Income Tax Act, 2025. Taxpayers can now handle payments and file under both the old and new tax regimes via one platform, with updated ITR forms and challans scheduled for availability from April 1, 2026.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Japan to tighten screening for transfer visa workers with tougher tax and document checks

Japan to tighten screening for transfer visa workers with tougher tax and document checks

Japan is set to strengthen screening for foreign employees transferring within the same company using transfer visas. The government will scrutinize work history and tax compliance more closely, demanding detailed overseas documentation and evidence of business operations in Japan. Stricter checks could lead to denial of residency renewal if fraud is suspected or filings fail to satisfy requirements.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
GST Act decriminalisation could spare small businesses from jail for minor offences

GST Act decriminalisation could spare small businesses from jail for minor offences

The government is preparing a major overhaul of GST provisions after five years, aiming to make compliance easier for small businesses. The key shift: separating minor offences from willful evasion of duty, reducing disproportionate consequences. If implemented, many businesses could see relief from harsh action tied to technical or low-severity mistakes, focusing enforcement on genuine tax fraud.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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GSTR 3B March 2026 filing chaos sparks question over possible due date extension

GSTR 3B March 2026 filing chaos sparks question over possible due date extension

Tax professionals say the GST portal is running unbearably slow, with logins and filings failing for the March 2026 GSTR-3B. With deadlines looming, businesses fear penalties and even GST number suspension for missed compliance. The issue echoes an interim fix reportedly suggested for February 2026, raising uncertainty about whether the March due date will be extended.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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