Team Bizsol

Income Tax The Central Board of Direct Taxes (CBDT) has notified ‘Secretary to the Government of Maharashtra, Women and Child Development’ as specified authority u/s 138 for the purposes of sharing of information for identifying eligible beneficiaries under the Mukhyamantri Mazi Ladki Bahin Yojana. [Notification No. 54/2025 dated 03.06.2025]

Judicial Corner: Separate SCNs must be issued for each year and consolidated SCN under Sec. 74(10) was invalid {Tharayil Medicals V/s Dy. Comm., Audit Division-IV – {(2025) 29 Centax 395 (Ker.). Kerala High Court}]

Judicial Corner HC : Matter remanded as single order was passed for multiple years including those eligible under Amnesty Scheme

Customs The CBIC has issued a instruction which provides for removal of port restrictions and CLRI testing requirements for the export of Finished Leather, Wet Blue Leather, El Tanned Leather, and Crust Leather, with immediate effect. Accordingly, the following conditions stand revoked: (i) Port-specific export restrictions. (ii) Mandatory testing and certification by CLRI. The earlier …

Customs:- The CBIC has issued a instruction which provides for removal of port restrictions and CLRI testing requirements for the export of Finished Leather, Wet Blue Leather, El Tanned Leather, and Crust Leather, with immediate effect.(03.06.2025) Read More »

MCA The Ministry of Corporate Affairs (MCA) has announced the launch of the final set of 38 company forms, including 13 annual filing forms and 6 audit/cost audit forms, scheduled to go live on the MCA21 V3 portal from 14th July 2025 at 12:00 AM. This transition is part of MCA’s ongoing efforts to enhance …

MCA : The Ministry of Corporate Affairs (MCA) has announced the launch of the final set of 38 company forms, including 13 annual filing forms and 6 audit/cost audit forms, scheduled to go live on the MCA21 V3 portal from 14th July 2025 at 12:00 AM. This transition is part of MCA’s ongoing efforts to enhance service delivery and digital governance.(03.06.2025) Read More »

Judicial Corner Pre-deposit waived as ITC was wrongly claimed under IGST instead of CGST and SGST without causing revenue loss

Judicial Corner Allahabad High Court Held that the mere presence of excess stock during search proceedings does not warrant confiscation under Section 130 of the CGST Act. Where excess stock is found, the proper course is to initiate proceedings under Sections 73/74 for tax determination. Since the Act provides a specific mechanism for such situations, …

Judicial Corner: Allahabad High Court Held that the mere presence of excess stock during search proceedings does not warrant confiscation under Section 130 of the CGST Act. Where excess stock is found, the proper course is to initiate proceedings under Sections 73/74 for tax determination. Since the Act provides a specific mechanism for such situations, invoking Section 130 is unsustainable. Accordingly, confiscation orders were quashed. (02.06.2025) Read More »

Judicial Corner:  ITAT condoned delay in filing appeal as order passed by CIT(E) was served on email ID which wasn’t checked regularly {Shriram Paropkari Trust vs. Commissioner of Income-tax Exemption [2025] 174 taxmann.com 787 (Jaipur – Trib)}

Matter remanded for re-adjudication as SCN was issued post cancellation of registration when assessee lacked portal access [{Grilled Roti vs. Commissioner of Delhi Goods and Services Tax [2025] 174 taxmann.com 834 (Delhi)}]

DGFT: The Director General of Foreign Trade (DGFT) has authorized the Ayush Export Promotion Council (AYUSHEXCIL) to issue Certificates of Origin (Non-Preferential) under Appendix 2E of the Foreign Trade Policy (FTP) 2023, with immediate effect. Accordingly, AYUSHEXCIL has been added at Serial No. 19 (Delhi) of Appendix 2E in the list of authorized agencies. This …

DGFT : The Director General of Foreign Trade (DGFT) has authorized the Ayush Export Promotion Council (AYUSHEXCIL) to issue Certificates of Origin (Non-Preferential) under Appendix 2E of the Foreign Trade Policy (FTP) 2023, with immediate effect. Accordingly, AYUSHEXCIL has been added at Serial No. 19 (Delhi) of Appendix 2E in the list of authorized agencies. This enables exporters in the Ayush sector to obtain non-preferential CoOs through AYUSHEXCIL, thereby streamlining the export process for Ayush-related products. (30.05.2025) Read More »

Judicial Corner Writ withdrawal to be allowed with liberty to assessee to file appeal before GST Appellate Tribunal

Judicial Corner Restoration of Suspended GST Registration Allowed: Assessee Directed to Comply with Tax Formalities Within 7 Days.

Income Tax The Central Board of Direct Taxes (CBDT) has extended the due date for filing of return of Income for Assessment year 2025-26 from the existing July 31, 2025, to September 15, 2025.

DGFT: The Central Government has removed export restrictions previously imposed on Finished Leather, Wet Blue Leather, Crust Leather, and El Tanned Leather. With this notification, Public Notice No. 23(RE-2013)/2009-14 dated 13th August 2013, along with its subsequent amendments, stands rescinded. Consequently, the following conditions are revoked with immediate effect: (i) Port restrictions on the export …

DGFT:The Central Government has removed export restrictions previously imposed on Finished Leather, Wet Blue Leather, Crust Leather, and El Tanned Leather. With this notification, Public Notice No. 23(RE-2013)/2009-14 dated 13th August 2013, along with its subsequent amendments, stands rescinded.(27.05.2025) Read More »

DGFT: The Central Government has amended the Import Policy Conditions for Cabinet Hinges classified under Chapter 83 of the ITC (HS), 2022 Schedule I (Import Policy). While imports under HS Codes 83021010, 83021090, 83024200, and 83024900 continue to be under the ‘Free’ category, a revised condition has been introduced stating that Cabinet Hinges with a …

DGFT:The Central Government has amended the Import Policy Conditions for Cabinet Hinges classified under Chapter 83 of the ITC (HS), 2022 Schedule I (Import Policy). While imports under HS Codes 83021010, 83021090, 83024200, and 83024900 continue to be under the ‘Free’ category, a revised condition has been introduced stating that Cabinet Hinges with a CIF value of less than ₹280 per kilogram will now be treated as ‘Restricted’. This policy amendment has been made to regulate the import of low-value hardware fittings and is effective immediately, with the approval of the Minister of Commerce & Industry.(27.05.2025) Read More »

DGFT: The Central Government has amended the Import Policy Condition for Roller Chains and parts thereof under Chapter 73 of the ITC (HS), 2022 Schedule I (Import Policy). The amendment stipulates that while imports under HS Codes 73151100, 73151900, and 73159000 remain under the ‘Free’ import category, a new condition is introduced whereby imports of …

DGFT: The Central Government has amended the Import Policy Condition for Roller Chains and parts thereof under Chapter 73 of the ITC (HS), 2022 Schedule I (Import Policy). The amendment stipulates that while imports under HS Codes 73151100, 73151900, and 73159000 remain under the ‘Free’ import category, a new condition is introduced whereby imports of roller chains and their parts having a CIF value of less than ₹235 per kilogram are now classified as ‘Restricted’. This restriction is effective immediately and has been issued with the approval of the Minister of Commerce & Industry, aiming to regulate the import of lower-value roller chains and protect domestic industry standards.(27.05.2025) Read More »