From 30 March 2026, the GST treatment of intermediary services has changed significantly. Indian intermediaries serving overseas clients may now qualify for export treatment, while Indian businesses receiving such services from foreign providers may face reverse charge implications. The amendment also raises important questions for transitional transactions, refunds and pending disputes.

A recent Gujarat High Court ruling has reinforced a difficult GST reality: businesses may lose Input Tax Credit where their supplier fails to deposit the tax, even if the invoice is valid, the goods or services were received and payment was made in full. The decision makes supplier compliance a direct business risk and highlights the need for stronger vendor checks, regular GSTR-2B monitoring and GST indemnity clauses in commercial contracts.

What does it take to build a business that outlasts its founder? CNK RK & Co. and BXV brought together founders, family business leaders, and next-generation principals for a candid session on succession, governance, and the structural foundations that allow family enterprises to endure across generations. From the question underneath succession to the architecture of hundred-year institutions, here are the key insights from the conversation.

With the Income-tax Act, 2025 now operative from 1 April 2026, this edition of CNK’s Quarterly Domestic Tax Insights covers the most consequential judicial developments of the quarter. From Supreme Court rulings on amalgamation to Tribunal decisions on slump sales and capital assets, our curated briefing distils the key developments that practitioners and businesses need to be aware of.

This quarter’s international tax briefing examines two pivotal questions reshaping cross-border taxation: whether intra-group share buybacks qualify as ‘corporate reorganisation’ under tax treaties, and when virtual services from abroad attract Indian FTS taxation. The edition also covers the comprehensive rewrite of the Safe Harbour regime under IT Rules 2026, with recalibrated margins and a raised threshold of INR 2,000 crores.

Four landmark GST judicial decisions that every tax professional should read carefully this quarter. This briefing covers GSTAT’s inherent power to grant stays on recovery proceedings, ISD distribution timing under GST, the Karnataka High Court’s relief for genuine recipients under Section 16(2)©, and the limits of penalty imposition under Section 122(1A).

The GST portal has undergone several meaningful changes that directly affect monthly compliance routines. This quarter’s advisory briefing covers the new interest computation method on net liability in GSTR-3B, auto-population of tax break-up for prior-period supplies, ITC utilisation flexibility across CGST/SGST and IGST, and the deadline-driven opt-in process for hotels classified as ‘specified premises’ for FY 2026-27.

Three customs circulars with immediate operational relevance mark this quarter’s Foreign Trade Policy update. This briefing covers the mandating of body-worn cameras for customs examinations, the launch of a Payment Aggregator facility on ICEGATE enabling duty payment through 41 banks, and comprehensive reforms to e-commerce and courier export rules effective 1 April 2026.

FEMA 23(R)/2026 marks the most significant overhaul of India’s cross-border trade regulations in recent memory, for the first time bringing imports under the same framework as exports. This quarter’s briefing covers the unified EDF replacing SOFTEX, revised realization timelines, rewritten Guarantees Regulations, updated RBI positions on CCDs and GIFT City, mandatory ECB filing through AD banks, and new NBFC and Bank disclosure requirements.

A landmark quarter for Indian corporate law: the Corporate Laws (Amendment) Bill 2026 was tabled, raising thresholds for small companies, expanding buy-back provisions, and easing meeting requirements. This briefing also covers Pillar Two accounting under AS 22, the one-time MCA-21 condonation window closing July 2026, revised SEBI LODR thresholds, the IRDAI’s Ind AS framework for insurers, and NFRA’s latest audit and accounting guidance.

With the Income-tax Act, 2025 operative from 1 April 2026, payroll professionals need to act before the first TY 2026-27 closing. Rule 15 of the new Income Tax Rules 2026 significantly revises perquisite valuations — raising motor car thresholds, tripling the gift and voucher exemption, increasing the free meal allowance, and lifting the medical loan exemption cap. This newsflash outlines every change your payroll team needs to know now.

The RBI has introduced a formal deregistration pathway for smaller NBFCs that do not mobilise public funds, have no customer interface, and fall below INR 1,000 crore in assets. If your NBFC fits the profile, the window to apply through the PRAVAAH portal closes on 31 December 2026. This newsflash explains the qualifying criteria, group-level asset aggregation, ongoing disclosure obligations, and restrictions on overseas financial-sector investment for entities that deregister.

The May 2026 edition of CNK’s Sustainability Newsletter turns its lens on the digital self — how identity, emotion, and behaviour are transforming in online spaces, and what that means for CSR and ESG strategies in the social sector. This edition features insights on the Young People’s Paradox, CNK’s internal pulse survey of 18-35 year olds, a conversation on Responsible Netism, and an update on India’s Social Stock Exchange.

Sixty-five years. Nearly 4,000 amendments. Over five lakh words. The Income Tax Act, 1961 has finally been replaced. The Income Tax Act, 2025 is not just a cleaner version of the same law , it introduces new concepts, a restructured framework for charitable trusts, significant changes to MAT, TDS, and search powers, and a transition mechanism that runs two parallel regimes simultaneously. This is our complete breakdown.