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10Mar 2025

Supreme Court Limits Arrest Powers Under GST and Customs Acts

Why in the News? The Supreme Court ruled that Customs and GST officers cannot arrest arbitrarily and must follow CrPC safeguards. It emphasized written reasons, evidence-based arrests, and due process, preventing coercion of taxpayers to pay dues under the threat of detention. Key Supreme Court Rulings: The Supreme Court has restricted the unfettered power of …

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04Mar 2025

India Classifies Virtual Digital Assets as Taxable Property

Why in the News? The Income Tax Bill, 2025 officially classifies Virtual Digital Assets (VDAs) as property and capital assets, subjecting them to capital gains tax, 30% income tax on transfers, and 1% TDS, aligning India’s crypto taxation with global standards. About VDAs as Property and Capital Assets: The Income Tax Bill, 2025 explicitly classifies …

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