India further raises windfall taxes on ATF, diesel exports amid rising global prices
India has increased windfall taxes on aviation turbine fuel (ATF) and diesel exports, following a further rise in global oil prices since the levy was first introduced on 26 March. According to notifications from the Ministry of Finance and the
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India: Tax collection assistance MoU with Japan takes effect for requests filed from 8 July 2025
India’s Ministry of Finance has confirmed that the Memorandum of Understanding (MoU) with Japan on assistance in the collection of taxes will apply to any request submitted on or after 8 July 2025. The MoU, signed in Tokyo on 30 June 2025 and
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India updates Brazil tax treaty following 2026 notification
India’s Ministry of Finance has issued Notification No. 39/2026 on 30 March, 2026, confirming that all provisions of the amending protocol to the 1988 income tax treaty with Brazil are in effect. The original convention was signed in 1988 and
See MoreIndia: CBDT grants GAAR (general anti-avoidance rule) relief for pre-April 2017 investments
India’s Central Board of Direct Taxes (CBDT) has released Notification 54/2026 and Notification 55/2026, introducing amendments to the Income Tax Rules, 1962 and 2026, concerning the application of the general anti-avoidance rule (GAAR) on income
See MoreIndia: CBDT signs record 219 APAs in FY 2025-26
India’s Central Board of Direct Taxes (CBDT), under the Ministry of Finance’s Department of Revenue has announced the signing of a record 219 Advance Pricing Agreements (APAs) with Indian taxpayers in FY 2025-26. This total includes both
See MoreIndia: Income-tax Act 2025 enters into force
India has formally implemented the Income-tax Act, 2025, from 1 April 2026, replacing the six-decade-old Income-tax Act, 1961, with the intention to simplify and modernise India’s income tax law. The legislation introduces clearer language, a
See MoreIndia enacts corporate tax cuts in Finance Act 2026
India has enacted the Finance Act 2026 on 30 March 2026, giving legal effect to the tax and fiscal measures announced in the Union Budget for 2026–2027. It introduces several changes that will affect businesses, the IT sector, investors and
See MoreIndia reduces excise duty on petrol and diesel, introduces windfall tax on exports
The Indian government has announced, on 27 March 2026, a reduction in excise duty on petrol and diesel for domestic consumption, citing rising global oil prices amid the rising hostilities in the Middle East. The move aims to shield consumers from
See MoreIndia: Lok Sobha approves Finance Bill 2026 with amendments
India’s Lok Sabha (lower house of parliament) has approved the Finance Bill 2026 with amendments on 25 March 2026. It now awaits approval by the Rajya Sabha. The bill implements the Union Budget 2026–27, including measures to introduce the new
See MoreIndia: CBDT rolls out 2026 income tax rules with expanded transfer pricing framework
India’s Central Board of Direct Taxes (CBDT) issued Notification No. 22/2026 on 20 March 2026 under the Income Tax Act, 2025, introducing the Income Tax Rules, 2026. The rules provide a comprehensive framework for income tax administration,
See MoreIndia, France sign amending protocol to tax treaty
India’s Central Board of Direct Taxes issued a press release on 23 February 2026, announcing that an amending protocol to the 1992 France–India income and capital tax treaty was signed on 17 February 2026. The protocol introduces significant
See MoreIndia: CBDT expands CRS reporting to include crypto assets, digital currencies
The Central Board of Direct Taxes (CBDT) has issued Notification No. 19/2026 in the Official Gazette on 5 March 2026, amending the Income-tax Rules, 1962 (Rules 114F, 114G, 114H) to bring crypto assets, central bank digital currencies (CBDCs), and
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India, Canada to finalise free trade agreement by year-end
India and Canada aim to conclude a free trade agreement by the end of 2026, Prime Minister Mark Carney said on 2 March 2026, during his first visit to New Delhi. The deal is intended to restore economic ties after years of diplomatic
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US: Department of Commerce to rule on solar import duties from India, Indonesia, Laos
The US Department of Commerce is expected to announce a preliminary ruling on 23 February 2026 on whether it will impose anti-subsidy duties on solar cells and panels from India, Laos, and Indonesia. This follows after a coalition of US solar
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France, India sign amending protocol to tax treaty
France and India signed an amending protocol on 17 February 2026 to update the income and capital tax treaty. Under the proposed amending protocol, the withholding tax on dividends paid to French investors holding at least 10% of an Indian
See MoreIndia: Tax Authority appeals ITAT ruling on Ireland aircraft leasing treaties
The Indian tax authority has filed an appeal before the High Court against the Mumbai bench of the Income Tax Appellate Tribunal’s (ITAT) consolidated order of August 2025, which granted treaty benefits to several Irish aircraft leasing
See MoreUS removes 25% tariff on Indian imports under new executive order
The US has removed the 25% additional tariff on goods imported from India after President Donald Trump signed an executive order, “Modifying Duties to Address Threats to the US by the Government of the Russian Federation”. The order took effect
See MoreIndia: CBDT consults draft income-tax rules, forms under Income-tax Act
India’s Central Board of Direct Taxes (CBDT), under the Ministry of Finance’s Department of Revenue, has launched a consultation seeking stakeholder inputs on the proposed Income-tax Rules and related Forms connected to the Income-tax Act,
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