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 …
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) …
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. …
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 …
ITC rejection solely based on supplier’s cancelled registration quashed; matter remanded for proper review – Himachal Pradesh High Court {Himalaya Communication Pvt. Ltd. V/s Union of India – (2025) 31 Centax 329 (H.P.)} Facts of the Case The assessee claimed input tax credit under the CGST Act, 2017, which was rejected by the authorities …
DGFT The Government has restricted imports of select jute and flax products (HS Codes 530130, 530310, etc.) originating from Bangladesh. These goods cannot be imported via any land port on the India-Bangladesh border and are allowed only through Nhava Sheva Seaport. The restriction does not apply to Bangladesh goods transiting to Nepal or Bhutan via …
The Central Government has imposed a definitive countervailing duty (CVD) on imports of effect pearlescent pigments or mica pearlescent pigments (excluding those used in automotive applications), originating in or exported from China PR. The goods fall under Customs Tariff Items 3206 11 10, 3206 11 90, 3206 19 00, and 3206 49 90, and the …
Customs The Central Government has imposed anti-dumping duty on imports of Plastic Processing Machines (PPM), also known as injection moulding machines, originating in or exported from China PR and Taiwan. The duty is applicable to machines falling under Customs Tariff Items 8477 10 00 and 8477 90 00, and is levied at varying rates (0% …
The court upheld the statutory requirement of depositing a portion of the demanded amount as a pre-condition for hearing appeals under RERA { Ashok Gandhi v. State of U.P. and Ors.[ (2025) ibclaw.in 476 HC]} Facts Under Section 43(5) of RERA, a statutory pre-deposit (a portion of the disputed sum) is required before an appeal …
Income Tax: The Government of India has notified protocol amending the DTAA between the Republic of India and the Sultanate of Oman for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. [Notification No. 69/2025 dated 25.06.2025]
Income Tax The Board has relaxed the time limit for processing ITR filed under section 119(2)(b). Due to technical issues, many such returns could not be processed within the statutory time, causing refund delays. The Board has now allowed those returns filed on or before 31.03.2024 to be processed by 31.03.2026. However, this relaxation does …
