Daily Updates

Penalty upheld as assessee failed to substantiate tax invoice weight with documents/bank statements for excess goods in transit – Calcutta High Court {S. N. Trading Co. V/s Union of India – (2025) 32 Centax 179 (Cal.)}   Issue: Whether penalty imposed under Section 129 of CGST Act was justified when excess goods were found in …

Judicial Corner:Penalty upheld as assessee failed to substantiate tax invoice weight with documents/bank statements for excess goods in transit – Calcutta High Court (18.07.2025) Read More »

DGFT Correction issued revising HS Code from 530010 to 531010 for unbleached woven jute or bast fibre fabrics under import policy restrictions on certain goods imported from Bangladesh. (Corrigendum to Notification No. 21/2025-26 dated 27.06.2025)

GST: GSTN will notify taxpayers via email/SMS on OTP-based data access by ASPs and allow revocation of active consents through the portal, enhancing transparency and control over data sharing. (Advisory dated 17.07.25)

GST: GSTN has enabled filing of appeals (APL-01) against waiver rejection orders (SPL-07) on the portal. Alternatively, original appeals can be restored by submitting an undertaking under “Orders” section. (Advisory dated 16.07.25)

Writ jurisdiction cannot re-appreciate evidence for valuation dispute when alternative remedy exists – Calcutta High Court {Vinod Maurya V/s Union of India (2025) 32 Centax 110 (Cal.)} Issue: Whether the High Court, in its writ jurisdiction under Article 226, can re-appreciate factual evidence and adjudicate valuation disputes under Section 129 of the CGST Act, 2017, …

Judicial Corner: Writ jurisdiction cannot re-appreciate evidence for valuation dispute when alternative remedy exists – Calcutta High Court (17.07.2025) Read More »

RBI: To ease compliance for small exporters, RBI has issued draft guidelines to simplify shipping bill closure in the Export Data Processing and Monitoring System. Stakeholders can submit feedback by 31st July 2025. (Press Release: 2025-2026/705)

RBI The due date for submitting the annual census on FLA as on end March-2025 on the FLAIR portal has been extended to July 31,2025. (Announcement)

DGFT Clarification has been issued that organic textiles are not covered under NPOP accreditation. Hence, NAB-accredited Transaction Certificates are not required; exporters must furnish TCs from GOTS or Textile Exchange. (Policy Circular No. 1/2025-26 dated 15.07.25)

Customs Steel inputs in shipments with Bill of Lading dated on or before 15.07.2025 and supplies by verified Integrated Steel Plants are exempted from mandatory Indian Standards under QCO. (Instruction No.23/2025-Customs dated 15.07.25)

Income Tax: The Income-tax Department launched a nationwide verification drive to curb fraudulent claims of deductions and exemptions in ITRs filed with the help of intermediaries. (Press Release dated 14.07.25)

Income Tax District Legal Service Authority and Baddi Barotiwala Nalagarh Development Authority have been granted income tax exemption under section 10(46) for their specified income. (Notification No. 114 /2025 & Notification No. 115 /2025 dated 14.07.25)

DGFT   A draft Internal Compliance Programme (ICP) framework for exporters of dual-use (SCOMET) items has been released. Stakeholders are invited to submit feedback within 10 days to standardize compliance procedures. (Trade Notice No. 07/2025-26 dated 14.07.25)

Matter remanded as appellate order lacked clarity on adjustment of recovered amount against principal tax demand – Calcutta High Court{ Mahesh Kumar Mishra V/s Union of India – (2025) 31 Centax 422 (Cal.)} Issue : Whether recovery made from the credit ledger pursuant to a demand should have been adjusted against the principal tax demand, …

Judicial Corner: Matter remanded as appellate order lacked clarity on adjustment of recovered amount against principal tax demand – Calcutta High Court (14.07.2025) Read More »

Company Law: SEZ Rules amended to promote semiconductor manufacturing: land requirement reduced to 10 hectares, export norms eased, NFE to include free supplies, and minimum land for some SEZs cut to 4 hectares. (Notification No. G.S.R. 364(E) [F.NO. K-43022/150/2024-SEZ]

Customs: Import policy for Iridium, Osmium, and Ruthenium alloys amended to restrict imports containing over 1% gold by weight. (Instruction No.22/2025-Customs dated 09.07.25)

Customs: Anti-dumping duty on imports of Clear Float Glass from Malaysia has been extended till 10th February 2026 to safeguard domestic industry. (Notification No. 22/2025-Customs (ADD) dated 10.07.25)

Income Tax 5 years bonds issued by IREDA has been notified as a “long-term specified asset” under section 54EC, with proceeds earmarked for renewable energy projects. (Notification No. 73/2025 dated 09.07.25)

HC quashes order as assessee was given only two days to file response to SCN { Ramesh Kumar Jain vs. Commissioner of Income-tax [2025] 176 taxmann.com 72 (Chhattisgarh)} Issue: Whether the assessment order violated the principles of natural justice due to insufficient opportunity of hearing. Facts : Assessee filed ITR on 12-09-2023. AO issued second …

Judicial Corner: HC quashes order as assessee was given only two days to file response to SCN (11.07.2025) Read More »

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 …

Judicial Corner: Appellate Authority could not accept appeal as assessee fails to make required pre-deposit under GST Act – Calcutta High Court (10.07.2025) Read More »