Legal Suvidha is a registered trademark. Unauthorized use of our brand name or logo is strictly prohibited. All rights to this trademark are protected under Indian intellectual property laws.
Legal Suvidha
Back to Updates
Income Tax 10 September 2026

India Tax Updates: GST Demand, Audit Extension, Excise Reform

India faces a series of tax and fiscal developments: Sintercom India is hit with a Rs 2.55 crore GST demand after ITC was disallowed, the GST department struggles to reconcile 4.5 lakh e‑way bills, and Rajasthan tax consultants report portal glitches prompting an extension of the tax audit report deadline. Meanwhile, a central excise duty amendment becomes effective from 1 Sept 2026, and several taxpayers incur extra demand after mistakenly opting for the old tax regime. The country also celebrates an A‑rated sovereign rating, a court quashes a reassessment over an unsigned approval, and a new Form 1 is introduced for undisclosed foreign assets reporting.

GST & Tax Audits
- Sintercom India faces a Rs 2.55 crore GST demand for FY 2022‑23 after ITC was disallowed. Read more
- GST department cannot reconcile 4.5 lakh e‑way bills, raising compliance concerns. Read more

Regulatory Deadlines
- Rajasthan tax consultants report portal glitches; tax audit report deadline extended. Read more

Excise & Income Tax Changes
- Central Excise Duty amendment takes effect 1 Sept 2026, affecting several sectors. Read more
- Mistakenly choosing the old tax regime led to extra tax demand for some taxpayers. Read more

Broader Economic & Compliance News
- India’s sovereign rating upgrades to A‑level, reflecting strong GDP growth. Read more
- ITAT quashes reassessment over unsigned S.151 approval. Read more
- New Form 1 introduced for reporting undisclosed foreign assets under FAST‑DS 2026. Read more

Need help understanding this update?

Connect with our domain experts instantly via WhatsApp for customized legal guidance.

Chat on WhatsApp

* May contain AI generated content. Please verify the required details.