Customs: Levy of countervailing duty on ‘Textured Tempered Glass’ originating in or exported from Malaysia, is extended up to 08.06.2026 [Notification No. 07/2025-Customs (CVD) dated 07.12.2025]
Customs: CBIC has issued a notification for fixation of Tariff Values of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. [Notification No. 76/2025-Customs (NT) dated 11.12.2025]
ITC disallowance under sec. 73 quashed as no prior action taken against defaulting supplier and no collusion alleged{ K.V. Joshy & C.K. Paul vs. Assistant Commissioner [2025] 181 taxmann.com 148 (Kerala} Facts: The purchasers had availed ITC on goods bought from registered suppliers. They had valid tax invoices, and the tax was paid to the …
HC: Writ dismissed as appeal rejected for pre-deposit default and merits, with no illegality in findings { Digambar Road Lines vs. Commissioner (Appeals), GST, Central Excise & Customs, Bhubaneswar [2025] 180 taxmann.com 574 (Orissa)} Facts Digambar Road Lines had a tax demand confirmed under GST. They filed an appeal but did not make the mandatory …
Penalty for non-filling Part-B of e-way bill unsustainable as technical glitch and no intent to evade found {Auto Industries vs. State of Up [2025] 181 taxmann.com 36 (Allahabad} Facts Petitioner, a GST-registered manufacturer, was transporting goods with proper tax invoices and other documents. However, Part-B of the e-way bill could not be updated due to …
Ruchir Sharma, the noted economist during his conversation with Fareed Zakaria, on CNN warned that the surge in investments in artificial intelligence is showing all the classic signs of a financial bubble. Sharma, Chairman of Rockefeller International, described the current AI boom as potentially the “most hated bubble in history”, noting that the frenzy around …
Bizsol Update for the month December 2025. From the Desk of Chairman Booklet on ‘Decoding the Codes- The Good, The Bad and the Ambigous in the Labour Codes’ by CS Venkat R Venkitachalam Article on The Imposer Syndrome the reason why capable people question themselves ’, by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt …
INTRODUCTION: The dictionary would tell you that an Imposter is one who pretends to be someone else in order to deceive others, especially for fraudulent gains. Imposter Syndrome, on the other hand, is a remarkably common yet deeply private experience – one that silently haunts the minds of high achievers and everyday professionals alike. Despite …
Click here to read Booklet on ‘Decoding the Codes- The Good, The Bad and the Ambigous in the Labour Codes’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. (December 2025)
Introduction In February 2025, the insertion of Section 18A into the Customs Act, 1962 was rightly described as a paradigm shift in the post-clearance amendment framework. It promised a system-driven, voluntary mechanism for correcting self-assessed entries—bringing India’s customs administration closer to global best practices. With the recent notifications dated 30th October 2025, the Central Board …
Article on ‘Decoding GSTR-9 Tables 8, 6 & 7 – Turning Mystery into Method’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt. Ltd. (December 2025) Click here to read Article
ITC refund cannot be denied to 100% EOU making zero-rated exports withdrawal order set aside {[2025] 180 taxmann.com 582 (Gujarat)} Facts: Petitioner was a 100% Export Oriented Unit (EOU) manufacturing goods and exporting them under LUT without payment of GST (zero-rated exports). It procured inputs from domestic suppliers on payment of GST and claimed …
SCN under sec. 74 UPGST Act quashed as it lacked allegations of fraud or intent to evade tax {[2025] 180 taxmann.com 796 (Allahabad)} Facts The department first issued an SCN under Section 73 for certain issues. The assessee submitted a detailed reply. Later, the same officer issued a fresh SCN under Section 74 for the …
HC quashes demand raised by Dept. as proceedings were pending before issuance of notification omitting Rule 96(10) { Aculife Healthcare (P.) Ltd. vs. Union of India [2025] 179 taxmann.com 490 (Gujarat)} Facts: The petitioner was issued proceedings/demand under Rule 96(10) alleging wrongful claim of IGST refund on exports. Before the proceedings could be finalized, …
Income tax The Ministry of Finance (Department of Revenue), vide Notification dated November 19, 2025, has introduced the Capital Gains Accounts (Second Amendment) Scheme, 2025, further refining the Capital Gains Account Scheme, 1988. Issued under sections 54, 54B, 54D, 54F, 54G, 54GA and 54GB of the Income-tax Act, the amendment strengthens the Scheme by formally …
FEMA RBI, vide Notification No. FEMA 23(R)/(7)/2025-RB dated November 13, 2025, has amended the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015. The amendment, issued under Sections 7, 8 and 47(2) of FEMA, extends key time limits governing export transactions. The period under Regulation 9 stands revised from nine months to fifteen months, …
DGFT DGFT, vide Trade Notice No. 18/2025-26 dated November 25, 2025, has initiated a comprehensive exercise for collection of information on Export-Related Non-Tariff Measures (NTMs), including testing and certification requirements, pursuant to the Export Promotion Mission (EPM) announced in the Union Budget 2025–26. The initiative forms part of the proposed component titled “Support for Export …
HC: Matter remanded as authorities failed to consider assessee’s explanation on GSTR-3B and GSTR-2A mismatch {Anjani Seeds and Fertilizers Depo vs. State of Gujarat [2025] 180 taxmann.com 348 (Gujarat)} Facts Assessee (Anjani Seeds & Fertilizers Depo) received a show-cause notice alleging a mismatch between its GSTR-3B return and GSTR-2A / GSTR-1. Assessee submitted a …
{Xiaomi Technology India Pvt. Ltd. V/s Principal Commissioner of Customs Appeal No. 40085/2024 Having Final Order no. 41324-41330/2025} FACTS: DRI found Xiaomi India was not including royalty/licence fees in the assessable value of imported phones and components. Royalty was being paid under multiple agreements but not disclosed to Customs/SVB initially. Show Cause Notices alleged …
Appeal permitted beyond limitation as only penalty on admitted tax was under challenge: HC { Tvl. Nagaraj Sellappan vs. State Tax Officer, Namakkal [2025] 180 taxmann.com 341 (Madras)} Facts: Petitioner did not reply to SCN under Section 74 and an ex-parte order dated 20.03.2023 confirmed tax, interest and penalty. Petitioner later made voluntary payments and …
