Daily Updates

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 »

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 …

Judicial Corner: No interest liability if GST tax credited in Electronic Cash Ledger before due date, even if debited later – Madras High Court (09.07.2025) Read More »

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 …

Judicial Corner: 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) (07.07.2025) Read More »

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) …

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.(05.07.2025) Read More »

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 …

Judicial Corner: Writ not maintainable against demand order citing lack of supporting documents remedy lies in appeal – Delhi High Court(04.07.2025) Read More »

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 …

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.(03.07.2025) Read More »

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: 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.(03.07.2025) Read More »

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 …

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.(02.07.2025) Read More »

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 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 is charged. (02.07.2025) Read More »

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 …

Judicial Corner: No wrongful availment of credit available under IGST head by taxpayer through CGST and SGST (02.07.2025) Read More »