Daily Intelligence Capsule — 4 August 2026
Latest EditionLatest Edition — Tuesday, 4 August 2026GST Updates
Ship-to-GSTIN Now Mandatory in e-Invoice and e-Way Bill APIs: What Changes From 1 August 2026
GSTN has made the Ship-to GSTIN field mandatory across e-Invoice and e-Way Bill APIs. Here is what breaks if your ERP master data isn't updated, and how to fix it before your next dispatch.
Read the briefingAlstom Transport: Why Partial ITC-02 Transfer on Amalgamation Fails
Supreme Court to Rule
The Gujarat High Court held that a transferor cannot split unutilised ITC between an ITC-02 transfer and a separate cash refund claim on amalgamation. The matter is now before the Supreme Court.
Read: Supreme Court to RuleFinance Act
ITR-3 and ITR-4 (Non-Audit) Due Date Now Permanently 31 August: Finance Act 2026 Staggers Return Filing
The common 31 July due date for all non-audit ITRs is gone. Under the Finance Act 2026, ITR-3 and ITR-4 (non-audit cases) now carry a separate, statutory 31 August due date.
Read: ITR-3 and ITR-4 (Non-Audit) Due Date Now Permanently 31 August: Finance Act 2026 Staggers Return FilingCase Law
Income Tax Case Law Roundup: The 7-Day SCN Rule and the Section 271C TDS Penalty Distinction
Two rulings this week reshape how faceless assessment notices and TDS penalty proceedings should be handled: a mandatory 7-day SCN window, and a sharpened line between non-deduction and delayed deposit under Section 271C.
Read: Income Tax Case Law Roundup: The 7-Day SCN Rule and the Section 271C TDS Penalty DistinctionFEMA & RBI
RBI Notifies FEMA (Guarantees) Regulations, 2026: Quarterly Form GRN Reporting Now Mandatory
RBI has replaced the year-2000 FEMA guarantee regulations with a 2026 framework that introduces mandatory quarterly reporting of cross-border guarantees in Form GRN, backed by Late Submission Fees for delay.
Read: RBI Notifies FEMA (Guarantees) Regulations, 2026: Quarterly Form GRN Reporting Now MandatoryCircular
MCA Extends CCFS-2026 Compliance Relief to 31 August 2026 After MCA21 Data-Centre Fire
Following the MCA21 data-centre fire on 5 June, the Ministry of Corporate Affairs has extended its Company Compliance Fee Scheme relief window to 31 August 2026 — normal fee plus only a 10% additional fee.
Read: MCA Extends CCFS-2026 Compliance Relief to 31 August 2026 After MCA21 Data-Centre FireAI
Supreme Court Sets Aside NCLT Order Over AI-Hallucinated Case Citations
The Supreme Court has set aside an NCLT order that relied on non-existent case citations, apparently generated by an AI tool, and directed the Bar Council of India to frame norms for AI use in legal drafting.
Read: Supreme Court Sets Aside NCLT Order Over AI-Hallucinated Case CitationsIncome Tax
REIT & InvIT Distributions: Why Reporting the Entire Payout as One Income Figure Can Be Costly
A REIT or InvIT payout can bundle interest, dividend, rental income and capital repayment in one distribution — each taxed differently. Here's how to read your statement correctly, including two rules commonly stated backward.
Read: REIT & InvIT Distributions: Why Reporting the Entire Payout as One Income Figure Can Be CostlyIncome Tax
High-Value Financial Transactions Reported to the Income-tax Department: The Complete Rule 114E Guide
Which bank deposits, property deals and card payments get reported to the Income-tax Department under Rule 114E — thresholds, penalties, and what to do about AIS mismatches.
Read: High-Value Financial Transactions Reported to the Income-tax Department: The Complete Rule 114E Guide