Appellate Authority could not accept appeal as assessee fails to make required pre-deposit under GST Act – Calcutta High Court {I-Karb E-Sol Pvt. Ltd. V/s JC of State Tax Behala Charge – (2025) 31 Centax 418 (Cal.)} Issue: Whether an appeal under Section 107 of the CGST Act, 2017 can be entertained without the mandatory …
DGFT: Three new SIONs under the Chemical & Allied Product group are notified for Azithromycin Dihydrate, Aldehyde C10, and Ceftazidime formulations which will be Effective from July 2025. (Public Notice No.14/2025-26 dated 08.07.2025)
No interest liability if GST tax credited in Electronic Cash Ledger before due date, even if debited later – Madras High Court { Tamilnadu State Transport Corp. V/s Addt. Comm (CT) Chennai – (2025) 31 Centax 305 (Mad.)} Facts: Assessee had deposited the full GST tax liability in the Electronic Cash Ledger (ECL) before …
Driving Jobs and Social Security Across Sectors The Union Cabinet, chaired by Hon’ble Prime Minister Shri Narendra Modi, has approved the Employment Linked Incentive (ELI) Scheme, designed to promote employment generation, enhance employability, and extend social security across all sectors, with a special focus on the manufacturing sector. This Scheme is part of the Prime …
Bizsol Update for the month June 2025. From the Desk of Chairman Article on ‘THE SANITY OF MADNESS – The Art of Weaponizing Irrationality in Global Power Games’, by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd Article on ‘Production Incentive Scheme for Electric Automobile Vehicles needs relaxation’, by CA Sharvan Biyani, Sr. Advisor, …
Insolvency and Bankruptcy code Disclosure of all identified avoidance transactions and instances of fraudulent or wrongful trading is now mandatory in the information memorandum. Such transactions cannot be assigned in the resolution plan unless disclosed in advance and shared with all prospective resolution applicants before the submission deadline. (Notification F. No. IBBI/2025-26/GN/REG128 dated 07.07.25)
Whether there can be one order under GST for multiple years i.e. one DRC-07 for 4 years (FY 2017-18 to FY 2020-21){ India News Media (P.) Ltd. vs. Assistant Commissioner Okhla Division CGST Delhi [2025] 174 taxmann.com 1269 (Delhi)} Facts : The petitioner received a single show cause notice and a consolidated demand order (DRC‑07) under …
Income Tax The Government has clarified that tax benefits available under the National Pension System (NPS) will also apply to the Unified Pension Scheme (UPS), as UPS is an option under NPS for new Central Government civil service recruits. (Press Release dated 04.07.25)
Customs The Indian government has extended countervailing duty (CVD) on copper wire rods from Indonesia, Malaysia, Thailand, and Vietnam for 5 more years. The rate of duty varies from nil to 10.27% depending on the exporter and country. It applies only to copper wire rods in coil form, of any thickness. (Notification No. 06/2025-Customs (CVD) …
In a diverse country like India, logistical challenges are endemic. That is quite natural considering our diversity and poor development of our infrastructural facilities. This is particularly true in freight movement and also in areas like power generation. Imagine that something is manufactured in one state whereas the requirement for it is in another, resulting …
In the intricate chessboard of international politics, unpredictability is a double-edged sword – both a weapon and a warning. One of the most audacious strategies to emerge during the Cold War was rooted in Madman Theory, a calculated performance of irrationality meant to coerce adversaries through fear coupled with confusion. Famously employed by former U.S. …
In terms of ongoing discussions between USA & China, it is noticed that magnet is the key requirement of USA. Therefore, in the agreement they are proposing to reduce the tariff imposed on China from 125% to 55% and also allow Chinese students to study in USA. It itself indicates the monopoly of China to …
Judicial Corner: Writ not maintainable against demand order citing lack of supporting documents remedy lies in appeal – Delhi High Court { M.V. Metals V/s Commissioner Delhi GST-(2025) 31 Centax 369 (Del.)} Issue (a): Challenge to Demand Order. Facts: Assessee contested a show cause notice and subsequent order demanding tax, interest, and penalty. They argued …
DGFT To regulate the import of Low Ash Metallurgical (LAM) Coke by setting country-wise quantity limits. Now Importers of Low Ash Metallurgical Coke must apply country wise details on the DGFT website by 13th July 2025 to get permission for imports from July to December. Only 3 applications (one per country) are allowed, and DGFT …
Customs Importers of plastic raw materials (including resins, pellets, films, preforms, etc.) must be mandatorily registered on the Centralized EPR Portal for Plastic Packaging as per the amended Plastic Waste Management Rules, 2024.Customs officers are also advised to verify proof of such registration at the time of clearance of plastic raw material consignments. (Instruction No. …
From simplification to streamlining the journey continues! * Move to 2-3 rate structure * Faster refunds, seamless credit * Automation, trust & transparency * One Nation, One Tax — truly! * Start GST Appellate Tribunal NOW! Let’s build the next phase of GST together…
Customs: The Directorate General of Foreign Trade (DGFT) under Section 3 read with Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, and in accordance with paragraphs 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, has introduced new restrictions on the import of certain goods from Bangladesh. Through this notification, a …
Income Tax: The CBDT has clarified that the authority prescribed (i.e. CCIT/DGIT/Pr.CCIT) is empowered to pass an order for a waiver after the date of issue of the said Circular No. 5/2025. Applications for the waiver of interest can be entertained within one year from the end of the financial year for which the interest …
Income Tax: The CBDT vide Notification No. 70/2025, dated 01-07-2025, has notified ‘376’ as the Cost Inflation Index (CII) for the Financial Year 2025-26. (NOTIFICATION NO. 70/2025 dated 1.7.25)
No wrongful availment of credit available under IGST head by taxpayer through CGST and SGST – Kerala High Court {Grand Hyundai V/s State Tax Officer – (2025) 31 Centax 125 (Ker.) } Issue: Whether a taxpayer can be said to have wrongly availed Input Tax Credit (ITC) under the IGST head by utilizing the …
