Income Tax 9 November 2026
India Tax & Regulatory Updates: Crypto, GST, Markets
India's new crypto tax proposal faces criticism for stifling blockchain growth, while the ICAI releases an updated GST liability handbook and experts call for a consumption‑based GST overhaul. Meanwhile, SEBI rolls out currency‑derivative rules to aid the rupee, and recent tax rulings clarify Diwali bonus exemptions, Supreme Court limits on tax penalties, and a GST notice to Saurashtra Cement.
- Crypto tax concerns: Vitalik Buterin warns that India's proposed crypto tax could dampen blockchain innovation. Read more
- GST handbook update: ICAI issues second edition of its GST liability handbook, clarifying payment duties in specific cases. Details
- GST reform debate: Experts argue for a consumption‑based GST overhaul rather than piecemeal refund changes. Opinion
- SEBI derivatives rules: New SEBI regulations on currency derivatives aim to support the falling rupee. Full story
- Diwali bonus tax exemption: Employers must watch the tax exemption limit for festive bonuses to avoid extra liability. Read here
- Supreme Court tax penalty ruling: The Court dismissed an appeal, limiting tax officers' penalty jurisdiction. Judgment
- GST notice to cement firm: Saurashtra Cement faces a ₹1.91 cr GST show‑cause notice for FY23. Report
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