India Tax Updates

India's tax regime has undergone significant changes in recent years. The Goods and Services Tax (GST) has been a major reform, aiming to simplify the tax structure and increase revenue.
- The GST collections have been rising, with a 13.9% year-on-year increase in June 2026, reaching Rs 1,94812 crore.
- Several companies have received notices to reopen assessments for previous financial years, including Harish Textile Engineers, which received a notice to reopen assessment for AY 2021-22.
- The Bombay High Court has quashed a notice issued to a company for wrongly claiming deduction under Section 80-IA, ruling that a foreign parent company does not bar Section 80-IA deduction.
- The government has also issued a notice to Meta over the proposed rollout of the WhatsApp usernames feature in India, flagging fraud risks. For more information, visit the original sources: https://www.republicworld.com/business/india-s-gross-gst-collections-surge-139-yoy-to-rs-194-lakh-crore-in-june-2026-07-01-130769, https://www.indiagazette.com/news/279160464/delhi-hc-issues-notice-on-ed-plea-against-bail-to-harpreet-talwar-agency-says-legal-provisions-overlooked, https://www.scanx.trade/stock-market-news/companies/harish-textile-engineers-receives-notice-to-reopen-assessment-for-ay-2021-22/44473490