ITAT Ruling on Interest for Delayed Payments to Foreign Associates: Key Takeaways

 A recent decision by the Bangalore Income Tax Appellate Tribunal (ITAT) in the case of Subex Assurance LLP offers important guidance for companies dealing with transfer pricing adjustments on overdue receivables from their associated enterprises.

CBIC clarifies officer’s jurisdiction in GST proceedings upon change in taxpayer’s principal place of business

 This Tax Alert summarizes a recent Circular^[1] issued by Central Board of Indirect Taxes and Customs (CBIC) regarding the authority competent to act at various stages of proceedings under Central Goods and Services Tax Act, 2017 (CGST Act) where a taxpayer migrates or transfers from one jurisdiction (transferor jurisdiction) to another (transferee jurisdiction) due to a change in principal place of business.

The key clarifications are:

Government notifies 31 July 2026 as the date upto which appeal in specified cases can be filed before GSTAT

 This Tax Alert summarizes a recent Press Release^[1] and Notification ^[2] issued by the Ministry of Finance extending the last date for filing appeal or application before the Goods and Services Tax Appellate Tribunal (GSTAT) under Section 112 of the Central Goods and Services Tax Act, 2017 (CGST Act).

Capital Gains Exemption on Reinvestment in Residential House to Be Allowed Before Set-off of Capital Losses

 In a recent ruling, the Mumbai Tribunal in the case of Nikesh Bhagwandas Mehta held that capital gains exemption must be granted before applying the provisions relating to set-off of capital losses. Accordingly, where the conditions are satisfied, long-term capital gains eligible for exemption cannot be reduced by long-term capital losses before allowing the exemption.

JULY 2026 - TAX DUE DATE.

Sr No	Due Date	Related to	Compliance to be made
1	11.07.2026	GST	Filing of GSTR – 1 for the month of June 2026
2	13.07.2026	GST	ISD Return Filing for the month of June 2026
3	20.07.2026	GST	Payment and Filing the GSTR – 3B for the month of June 2026
4	07.07.2026	TDS/TCS (Income Tax)	Deposit TDS for payments of Salary, Interest, Commission or Brokerage, Rent, Professional fee, payment to Contractors, etc. during the month of June 2026. Deposit TDS from Salaries deducted during the month of June 2026 Deposit TCS for collections made under section 394 including sale of scrap during the month of June 2026 if any Deliver a copy of Form 121(15G/15H), if any to CCIT or CIT for declarations received in the month of June 2026, if any
5	31.07.2026	TDS/TCS (Income Tax)	Furnish quarterly statement of tax deducted at source (TDS) and tax collected at source (TCS) for the quarter ended June 2026 in Form 138/140/144/143 (Form 24Q / 26Q / 27Q / 27EQ).