Daily Updates

Income Tax The Central Board of Direct Taxes (CBDT) has notified a revised ITR-U form, used for filing updated returns of income under section 139(8A). The revision enables taxpayers to file updated returns for a period of up to 48 months from the end of the relevant assessment year. (Notification No. 49/2025 dated 20th May …

Income Tax: The Central Board of Direct Taxes (CBDT) has notified a revised ITR-U form, used for filing updated returns of income under section 139(8A). The revision enables taxpayers to file updated returns for a period of up to 48 months from the end of the relevant assessment year. (20.05.2025) Read More »

Judicial Update The High Court quashed the impugned order noting that the issue had already been decided by the CGST Department. It directed the State GST Department to reconsider the matter afresh ensuring no duplication of proceedings. [Sun Automation Ltd. vs. Sales Tax Officer Class II {[2025] 174 taxmann.com 616 (Delhi)}]

Judicial Update: The High Court declined to entertain the writ petition, holding that the assessee should pursue the statutory appellate remedy to contest the penalty imposed for a discrepancy in the vehicle number on the e-way bill. [ Pawan Carrying Corporation vs. State of West Bengal {[2025] 174 taxmann.com 269 (Calcutta)}]

DGFT: The Central Government has amended Schedule-II (Export Policy) of ITC (HS) 2022 to align it with the changes introduced by the Finance Act, 2025 dated 29th March 2025. Issued under the powers conferred by Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992 and Paragraphs 1.02 and 2.01 of the …

DGFT:The Central Government has amended Schedule-II (Export Policy) of ITC (HS) 2022 to align it with the changes introduced by the Finance Act, 2025 dated 29th March 2025. Issued under the powers conferred by Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992 and Paragraphs 1.02 and 2.01 of the Foreign Trade Policy 2023, this notification introduces, deletes, amends, splits, or merges specific ITC (HS) codes, as detailed in Annexure-I.(19.05.2025) Read More »

DGFT: The Central Government has amended the Import Policy and Policy Conditions of specific ITC (HS) codes under Chapter 71 of Schedule-I (Import Policy) of ITC (HS) 2022, in line with the changes introduced by the Finance Act, 2025 dated 29th March 2025. This amendment includes the deletion of certain codes and the introduction of …

DGFT:The Central Government has amended the Import Policy and Policy Conditions of specific ITC (HS) codes under Chapter 71 of Schedule-I (Import Policy) of ITC (HS) 2022, in line with the changes introduced by the Finance Act, 2025 dated 29th March 2025 (19.05.2025) Read More »

DGFT The Central Government has introduced a new Para 19 under the “General Notes Regarding Import Policy” of ITC (HS), 2022 Schedule 1 (Import Policy) to impose port-specific restrictions on the import of certain goods from Bangladesh into India, with immediate effect. As per the notification, imports of Ready Made Garments (RMG) from Bangladesh are …

DGFT: The Central Government has introduced a new Para 19 under the “General Notes Regarding Import Policy” of ITC (HS), 2022 Schedule 1 (Import Policy) to impose port-specific restrictions on the import of certain goods from Bangladesh into India, with immediate effect. As per the notification, imports of Ready Made Garments (RMG) from Bangladesh are permitted only through Nhava Sheva and Kolkata seaports and are prohibited via land ports.(19.05.2025) Read More »

Customs The Central Board of Indirect Taxes and Customs (CBIC) has directed the implementation of DGFT Notification No. 07/2025-26 by inserting a new Para 19 under the “General Notes Regarding Import Policy” of ITC (HS), 2022 – Schedule 1, imposing port restrictions on the import of certain goods from Bangladesh with immediate effect. Imports of …

Customs: The Central Board of Indirect Taxes and Customs (CBIC) has directed the implementation of DGFT Notification No. 07/2025-26 by inserting a new Para 19 under the “General Notes Regarding Import Policy” of ITC (HS), 2022 – Schedule 1, imposing port restrictions on the import of certain goods from Bangladesh with immediate effect.(19.05.2025) Read More »

DGFT: The Directorate General of Foreign Trade (DGFT) has amended Standard Input Output Norms (SION) A-1303 with immediate effect. The amendment pertains to the export product “Di-Octyl Phthalate (DOP)” used as a PVC plasticizer. While the input quantity of Phthalic Anhydride remains unchanged at 0.400 kg per kg of DOP, the permissible import quantity of …

DGFT : The Directorate General of Foreign Trade (DGFT) has amended Standard Input Output Norms (SION) A-1303 with immediate effect. The amendment pertains to the export product “Di-Octyl Phthalate (DOP)” used as a PVC plasticizer. While the input quantity of Phthalic Anhydride remains unchanged at 0.400 kg per kg of DOP, the permissible import quantity of 2-Ethylhexanol (Octanol) has been revised from 0.700 kg to 0.680 kg, thereby reducing the import entitlement for this input. (17.05.2025) Read More »

Customs The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 36/2001-Customs (N.T.) to revise the tariff values of certain imported goods. The revised values, effective from 16th May 2025, apply to various commodities including crude and refined edible oils (such as palm oil, palmolein, and soya bean oil), brass scrap, gold, …

Customs : The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 36/2001-Customs (N.T.) to revise the tariff values of certain imported goods. The revised values, effective from 16th May 2025, apply to various commodities including crude and refined edible oils (such as palm oil, palmolein, and soya bean oil), brass scrap, gold, silver, and areca nuts. Notably, the tariff values for gold have been fixed at USD 1028 per 10 grams and for silver at USD 1065 per kilogram, with similar rates applied across different forms of these metals. The tariff value for areca nuts remains unchanged at USD 6970 per metric tonne. These changes have been made under the powers granted by Section 14(2) of the Customs Act, 1962, to ensure appropriate valuation for the purpose of levying customs duty. This notification shall come into force with effect from the 16th day of May 2025. (17.05.2025) Read More »

GST GSTN has issued an advisory stating that Table 3.2 of Form GSTR-3B will remain editable for the time being, contrary to the earlier advisory dated April 11, 2025, which had proposed making the table non-editable starting April-2025 return period. The concerns are under examination, and taxpayers are encouraged to review and amend the auto-populated …

GST : GSTN has issued an advisory stating that Table 3.2 of Form GSTR-3B will remain editable for the time being, contrary to the earlier advisory dated April 11, 2025, which had proposed making the table non-editable starting April-2025 return period. The concerns are under examination, and taxpayers are encouraged to review and amend the auto-populated entries, if necessary, to ensure accurate return filing. (17.05.2025) Read More »

Judicial Update: The petitioner contested a consolidated show cause notice covering multiple years, arguing it impeded their ability to avail benefits under the upcoming Amnesty Scheme. The Madras High Court set aside the consolidated notice and directed the issuance of separate notices for each assessment year, facilitating the petitioner’s access to the Amnesty Scheme.   …

Judicial Update:The petitioner contested a consolidated show cause notice covering multiple years, arguing it impeded their ability to avail benefits under the upcoming Amnesty Scheme. The Madras High Court set aside the consolidated notice and directed the issuance of separate notices for each assessment year, facilitating the petitioner’s access to the Amnesty Scheme.(18.05.2025) Read More »

Judicial Update The Court set aside a GST demand order against IBC Knowledge Park covering multiple years. The Court allowed the company to claim benefits under the Amnesty Scheme for 2017–18 to 2019–20 and directed the tax department to issue separate orders for each year. The matter was sent back for reconsideration. [IBC Knowledge Park …

Judicial Update: The Court set aside a GST demand order against IBC Knowledge Park covering multiple years. The Court allowed the company to claim benefits under the Amnesty Scheme for 2017–18 to 2019–20 and directed the tax department to issue separate orders for each year. The matter was sent back for reconsideration.(17.05.2025) Read More »

Judicial Corner: A single Order-in-Original encompassed multiple financial years, potentially hindering the petitioner’s eligibility for the Amnesty Scheme. The Karnataka High Court quashed the consolidated order and remitted the matter for fresh consideration, instructing the issuance of separate orders for each financial year to enable the petitioner to benefit from the Amnesty Scheme [Toshiba Software …

Judicial Update: A single Order-in-Original encompassed multiple financial years, potentially hindering the petitioner’s eligibility for the Amnesty Scheme. The Karnataka High Court quashed the consolidated order and remitted the matter for fresh consideration, instructing the issuance of separate orders for each financial year to enable the petitioner to benefit from the Amnesty Scheme (16.05.2025) Read More »

GST The GSTN has issued an advisory for taxpayers clarifying that appeals withdrawn through Form APL-01W, whether automatically before issuance of Form APL-02 or with approval thereafter will be treated as withdrawn for the purposes of the Section 128A Waiver Scheme. Taxpayers must upload a screenshot showing the “Appeal withdrawn” status when filing or updating …

GST: The GSTN has issued an advisory for taxpayers clarifying that appeals withdrawn through Form APL-01W, whether automatically before issuance of Form APL-02 or with approval thereafter will be treated as withdrawn for the purposes of the Section 128A Waiver Scheme. (15.05.2025) Read More »

Income Tax The Central Government has notified ‘Ten-Year Zero-Coupon Bond of Indian Railway Finance Corporation Ltd.’ as zero-coupon bond for the purposes of the said clause (48) of section 2 of the Income-tax Act. (Notification No. 48 /2025 dated 14th May 2025)

Customs: The CBIC has clarified the implementation mechanism for Anti-Dumping Duty (ADD) imposed on imports of Titanium Dioxide from China PR under Notification No. 12/2025-Customs (ADD), specifically stating that the duty shall not apply to imports meant for excluded sectors such as food, pharma, skincare, textiles, fibre, and nano or ultrafine applications. To facilitate compliance, …

Customs: The CBIC has clarified the implementation mechanism for Anti-Dumping Duty (ADD) imposed on imports of Titanium Dioxide from China PR under Notification No. 12/2025-Customs (ADD), specifically stating that the duty shall not apply to imports meant for excluded sectors such as food, pharma, skincare, textiles, fibre, and nano or ultrafine applications. To facilitate compliance, an electronic declaration facility has been introduced in the Bill of Entry filing, allowing importers to declare intended use in exempted sectors, along with an undertaking to pay ADD with interest if goods are diverted to non-exempted uses. Customs officers are to be sensitized accordingly, and DG (Systems) will issue a system advisory for implementation. (12.05.2025) Read More »

Customs: The Government of India has imposed anti-dumping duty on imports of Titanium Dioxide originating in or exported from China PR, following DGTR’s final findings that such imports were dumped and caused material injury to the domestic industry. The duty, ranging from USD 460/MT to USD 681/MT, is imposed on specific producers, including non-sampled cooperative …

Customs: The Government of India has imposed anti-dumping duty on imports of Titanium Dioxide originating in or exported from China PR, following DGTR’s final findings that such imports were dumped and caused material injury to the domestic industry. The duty, ranging from USD 460/MT to USD 681/MT, is imposed on specific producers, including non-sampled cooperative exporters, and excludes certain grades of Titanium Dioxide used in food, pharma, cosmetics, fibre production, and nano applications. The duty is applicable for a period of five years from the date of notification (12.05.2025) Read More »

Customs: The Government of India has imposed a countervailing duty (CVD) on imports of Textured Toughened (Tempered) Coated or Uncoated Glass originating from or exported by Vietnam, based on the final findings of the DGTR that such goods were subsidized and caused material injury to the domestic industry. The duty applies to specific tariff headings …

Customs: The Government of India has imposed a countervailing duty (CVD) on imports of Textured Toughened (Tempered) Coated or Uncoated Glass originating from or exported by Vietnam, based on the final findings of the DGTR that such goods were subsidized and caused material injury to the domestic industry. The duty applies to specific tariff headings (7003, 7005, 7007, 7016, 7020, and 8541) and varies by producer: USD 593/MT for Flat (Vietnam) Co., Ltd and USD 664/MT for others, subject to adjustment for any anti-dumping duty (ADD) paid. The CVD will be levied only when the landed value is below the reference price, is payable in Indian currency, and will remain in force for five years unless earlier amended or revoked.(12.05.2025) Read More »

Customs The Government of India has granted full customs duty exemption on the import of certain works of art, statuary, pictures, and antiquities when intended for public exhibition in museums or art galleries, or as memorials in public places. The exemption applies under Section 25(1) of the Customs Act, 1962 and is subject to specific …

Customs: The Government of India has granted full customs duty exemption on the import of certain works of art, statuary, pictures, and antiquities when intended for public exhibition in museums or art galleries, or as memorials in public places. (12.05.2025) Read More »

Income Tax The Central Board of Direct Taxes (CBDT) has notified ITR forms 7 applicable for the Assessment year 2025-26. (Notification No. 46/2025 dated 12th May 2025)