Daily Updates

Income Tax CBDT has invited stakeholders to submit inputs on Income-tax rules and forms under the Income Tax Bill, 2025. A utility on the e-filing portal allows submissions via OTP-based validation. Inputs should specify relevant provisions and focus on simplification, reducing litigation and compliance burdens, and identifying obsolete rules. Press Release dtd 18.03.2025

Directorate General of Foreign Trade (DGFT): The DGFT has initiated a review of Standard Input Output Norms (SIONs) for automobile tyres (A-1722, A-1717, A-1667, A-1666, A-1673, A-1665, A-1664, A-1663) and invites EPCs, exporters, and trade bodies to submit comments or suggestions on necessary modifications. Proposed changes must include justifications, production and consumption data, and wastage …

DGFT : The DGFT has initiated a review of Standard Input Output Norms (SIONs) for automobile tyres (A-1722, A-1717, A-1667, A-1666, A-1673, A-1665, A-1664, A-1663) and invites EPCs, exporters, and trade bodies to submit comments or suggestions on necessary modifications. Proposed changes must include justifications, production and consumption data, and wastage norms certified by a Chartered Engineer. Stakeholders must submit their inputs within 45 days to nc7.dgft@gov.in for further examination. Read More »

Directorate General of Foreign Trade (DGFT): The Directorate General of Foreign Trade (DGFT) has extended the deadline for filing the Annual RoDTEP Return (ARR) for Financial Year 2023-24. The last date for submission, originally set for March 31, 2025, has now been extended to June 30, 2025, providing exporters with an additional three months to …

DGFT : The Directorate General of Foreign Trade (DGFT) has extended the deadline for filing the Annual RoDTEP Return (ARR) for Financial Year 2023-24. The last date for submission, originally set for March 31, 2025, has now been extended to June 30, 2025, providing exporters with an additional three months to comply. Similarly, the grace period for filing the ARR has been extended from June 30, 2025, to September 30, 2025. Read More »

Custom: The Ministry of Finance (Department of Revenue) has issued notification, imposing provisional anti-dumping duty on imports of Aluminium Foil up to 80 microns from China PR. Below are the details: Product Covered: Aluminium foil up to 80 microns, excluding foil below 5.5 microns for non-capacitor applications (ITC HS Codes: 7607 11 10, 7607 11 …

Custom : The Ministry of Finance (Department of Revenue) has issued notification, imposing provisional anti-dumping duty on imports of Aluminium Foil up to 80 microns from China PR. (20.03.2025) Read More »

Custom :  The Ministry of Finance (Department of Revenue) has issued notification, imposing anti-dumping duty on imports of vacuum insulated flasks and other vacuum vessels of stainless steel from China PR. Below are the details: Product Covered: Vacuum insulated flasks, mugs, bottles, carafes, and kettles made of stainless steel (ITC HS Code: 9617 00 11, …

Custom : The Ministry of Finance (Department of Revenue) has issued notification, imposing anti-dumping duty on imports of vacuum insulated flasks and other vacuum vessels of stainless steel from China PR. (20.03.2025) Read More »

Custom :  The Ministry of Finance (Department of Revenue) has issued notification, imposing anti-dumping duty on imports of Soft Ferrite Cores from China PR. Below are details: Product Covered: Manganese-Zinc-based Soft Ferrite Cores under ITC HS Code: 85051110 Country of Origin & Export: China PR Duty Imposed: Ranges between 31% – 35% of CIF value, …

Custom : The Ministry of Finance (Department of Revenue) has issued notification, imposing anti-dumping duty on imports of Soft Ferrite Cores from China PR. (20.03.2025) Read More »

Customs The Ministry of Finance has issued notification amending the Customs (Rules of Origin) Regulations, 2020, in which The term “certificate” is now replaced with “proof” in various rules, allowing flexibility in documents required for establishing the origin of goods under trade agreements. In Form I, the term “CoO” (Certificate of Origin) is replaced with …

Custom : The Ministry of Finance has issued notification amending the Customs (Rules of Origin) Regulations, 2020, in which The term “certificate” is now replaced with “proof” in various rules, allowing flexibility in documents required for establishing the origin of goods under trade agreements. In Form I, the term “CoO” (Certificate of Origin) is replaced with “proof of origin”. (20.03.2025) Read More »

Customs The Ministry of Finance has imposed anti-dumping duties on imports of Trichloro Isocyanuric Acid falling under tariff items 2933 69 10 or 2933 69 90 of the First Schedule to the Customs Tariff Act, 1975 from China PR & Japan to protect Indian manufacturers. Duties range from $276 to $986 per MT and will …

Custom : The Ministry of Finance has imposed anti-dumping duties on imports of Trichloro Isocyanuric Acid falling under tariff items 2933 69 10 or 2933 69 90 of the First Schedule to the Customs Tariff Act, 1975 from China PR & Japan to protect Indian manufacturers. Duties range from $276 to $986 per MT and will be applicable for five years. (18.03.2025) Read More »

Goods and Service Tax The GSTIN has issued an update to inform that in accordance with Rule 8 of CGST Rules, Biometric-based Aadhaar Authentication and document verification has been rolled out in Jharkhand and Andaman and Nicobar Islands on 15-02-2025. The functionality includes applicants photograph capture, original document verification and appointment booking. After submitting the …

GST : The GSTIN has issued an update to inform that in accordance with Rule 8 of CGST Rules, Biometric-based Aadhaar Authentication and document verification has been rolled out in Jharkhand and Andaman and Nicobar Islands on 15-02-2025. (18.03.2025) Read More »

Income Tax: The CBDT has clarified that Circular 01/2025 applies only to the PPT provision in Indian DTAAs, without affecting other tax provisions or domestic anti-abuse rules like GAAR, SAAR, and JAAR, which remain independent. Press Release for Circular 01/2025.

DGFT: The Central Government has amended the Import Policy for Urad Beans (ITC HS Code: 07133110) under ITC (HS) 2022, Schedule-I (Import Policy), extending the “Free” import status. Effect of the Notification: Import of Urad (Vigna Mungo) will continue under the “Free” category for an additional year, up to March 31, 2026. This extension aims …

DGFT : The Central Government has amended the Import Policy for Urad Beans (ITC HS Code: 07133110) under ITC (HS) 2022, Schedule-I (Import Policy), extending the “Free” import status. (11.03.2025) Read More »

DGFT: The Central Government has extended the free import period for Yellow Peas (ITC HS Code: 07131010) under ITC(HS) 2022, Schedule-I (Import Policy) from February 28, 2025, to May 31, 2025. This is in continuation of previous notifications, including 50/2023, 61/2023, 04/2023, 12/2024-25, 29/2024-25, and 43/2024-25. Effect of the Notification: Imports of Yellow Peas remain …

DGFT: The Central Government has extended the free import period for Yellow Peas (ITC HS Code: 07131010) under ITC(HS) 2022, Schedule-I (Import Policy) from February 28, 2025, to May 31, 2025. This is in continuation of previous notifications, including 50/2023, 61/2023, 04/2023, 12/2024-25, 29/2024-25, and 43/2024-25. (11.03.2025) Read More »

DGFT: The Central Government has amended Notification No. 19/2024-2025 (dated July 5, 2024) regarding the export of rice (Basmati & Non-Basmati) under ITC (HS) subheading 1006, with immediate effect. Effect of the Notification: Inspection Certificate requirement is now limited to EU Member States, UK, Iceland, Liechtenstein, Norway, and Switzerland. Exports to other European countries are …

DGFT: The Central Government has amended Notification No. 19/2024-2025 (dated July 5, 2024) regarding the export of rice (Basmati & Non-Basmati) under ITC (HS) subheading 1006, with immediate effect. (11.03.2025) Read More »

DGFT The Director General of Foreign Trade (DGFT) has amended Paragraph 10.12(D) of the Handbook of Procedures (HBP) 2023, introducing a General Authorization for Export after Repair (GAER). This update simplifies the re-export of SCOMET items to related entities and authorized repair supply chains after repair in India. Key Amendments & Provisions: Aspect Details Eligibility …

DGFT : DGFT has amended Paragraph 10.12(D) of the Handbook of Procedures (HBP) 2023, introducing a General Authorization for Export after Repair (GAER). This update simplifies the re-export of SCOMET items to related entities and authorized repair supply chains after repair in India. (11.03.2025) Read More »

The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular, modifying the procedures for handling confiscated Unmanned Aircraft Systems (UAS)/Drones. Key Amendments: New Warehousing & Inspection System: All confiscated drones (UAS/UAV/RPAS) must now be transferred to specific focal Customs Commissionerates for stocking, segregation, and joint inspection. The designated Customs Warehouses are at Chennai, …

Custom : The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular, modifying the procedures for handling confiscated Unmanned Aircraft Systems (UAS)/Drones. (11.03.2025) Read More »

Custom :  The Ministry of Finance (Department of Revenue) has issued Notification, making an important amendment to Notification No. 64/2023-Customs which was for the concessional duty on yellow peas. Key Amendment: Original Notification Previous Validity Revised Validity Notification No. 64/2023-Customs (December 7, 2023) Until February 28, 2025 Extended to May 31, 2025 Effect of the …

Custom : The Ministry of Finance (Department of Revenue) has issued Notification, making an important amendment to Notification No. 64/2023-Customs which was for the concessional duty on yellow peas. (11.03.2025) Read More »

Custom: The Ministry of Finance (Department of Revenue) has issued Notification, introducing amendments to various customs notifications, effective from March 8, 2025. Key Amendments: Notification No. Amendment 50/2017-Customs (June 30, 2017) Duty rate under S. No. 21D changed to 5%. 11/2018-Customs (Feb 2, 2018) Lentils (Mosur) under HS Code 0713 40 00 added as S. …

Custom : The Ministry of Finance (Department of Revenue) has issued Notification, introducing amendments to various customs notifications, effective from March 8, 2025. (11.03.2025) Read More »

DGFT The Directorate General of Foreign Trade has amended the Import Policy and Policy Conditions for Platinum under HS Code 7110 of Chapter 71 in ITC (HS) 2022, Schedule-I (Import Policy). The import of Platinum under the specified HS codes (71101110, 71101120, and 71101900) has been revised from “Free” to “Restricted”. However, Platinum Alloy with …

DGFT :The Directorate General of Foreign Trade has amended the Import Policy and Policy Conditions for Platinum under HS Code 7110 of Chapter 71 in ITC (HS) 2022, Schedule-I (Import Policy). (05.03.2025) Read More »

GSTN Advisory: Biometric Authentication Enhancement for GST Registration : Effective from March 3, 2025, GSTN has introduced an enhanced biometric authentication facility for certain Promoters/Directors, allowing them to complete the process at any GST Suvidha Kendra (GSK) within their Home State instead of only at the jurisdictional GSK. Key Highlights: Who is Eligible? Promoters/Directors of …

GSTN Advisory : Biometric Authentication Enhancement for GST Registration Read More »

RBI: The RBI has reviewed risk weights on microfinance loans. Microfinance loans classified as consumer credit will attract a 100% risk weight instead of the 125% applied to other consumer credit. All microfinance loans extended by RRBs and LABs shall attract a risk weight of 100 %. The above instructions shall be applicable from the …

RBI : The RBI has reviewed risk weights on microfinance loans. Microfinance loans classified as consumer credit will attract a 100% risk weight instead of the 125% applied to other consumer credit. All microfinance loans extended by RRBs and LABs shall attract a risk weight of 100 %. The above instructions shall be applicable from the 25.02.2025, in respect of outstanding as well as new microfinance loans. (27.02.2025) Read More »