Daily Updates

GST : The GSTN has issued an advisory to provide a new option for generating E-Way Bills (EWB) for gold has been introduced in the EWB system, effective from January 20, 2025. This feature has been made available to facilitate taxpayers in Kerala State to generate EWB for goods classified under Chapter 71, excluding Imitation …

GST : The GSTN has issued an advisory to provide a new option for generating E-Way Bills (EWB) for gold has been introduced in the EWB system, effective from January 20, 2025. (27.01.2025) Read More »

Central Excise  The CBIC has issued a notification to appoint & empower certain central excise officers to handle appeals under the Central Excise Act, 1944 and the Finance Act, 1994. This pertains to appeals filed on or after July 1, 2017, with the Commissioner of Central Excise and Service Tax (Appeals). [Notification No. 01/2025 – …

Central Excise: The CBIC has issued a notification to appoint & empower certain central excise officers to handle appeals under the Central Excise Act, 1944 and the Finance Act, 1994.(24.01.2025) Read More »

GST: The CBIC has issued notification to waive the amount of late fee for delayed filing of Form GSTR-9C, which is in excess of the amount of late fee payable till the date of filing of Form GSTR-9 for the financial years 2017-18 to 2022-23, provided the said Form GSTR-9C is filed on or before …

GST: The CBIC has issued notification to waive the amount of late fee for delayed filing of Form GSTR-9C, which is in excess of the amount of late fee payable till the date of filing of Form GSTR-9 for the financial years 2017-18 to 2022-23, provided the said Form GSTR-9C is filed on or before 31-03-2025(24.01.2025) Read More »

GST The CBIC has issued Central Goods and Services Tax (Amendment) Rules, 2025 to introduce FORM GST REG-12 for grant of temporary identification number to person who is not liable to registration but is required to make any payment under the provisions of the GST Act. [Notification No. 07/2025 – CENTRAL TAX dated 23.01.2025]

DGFT The DGFT has issued a notification which provides that import of ‘Glufosinate and its salts’ (Purity — Minimum 95% w/w) is “Restricted” for CIF value below Rs. 1289/- per Kg. However, import of `Glufosinate and its salts’ is `Free’ if CIF value is Rs. 1289/- per Kg and above. [Notification No. 54 /2024-25   dated …

DGFT: The DGFT has issued a notification which provides that import of ‘Glufosinate and its salts’ (Purity — Minimum 95% w/w) is “Restricted” for CIF value below Rs. 1289/- per Kg. However, import of `Glufosinate and its salts’ is `Free’ if CIF value is Rs. 1289/- per Kg and above.(24.01.2025) Read More »

The Ministry of Finance issued an order to address issues under the Direct Tax Vivad Se Vishwas Scheme, 2024, for cases where appeals were filed after 22nd July 2024 but within the prescribed time limit. The order states that: The appeal will be considered pending as of 22nd July 2024. The person will be treated …

Income Tax : The Ministry of Finance issued an order to address issues under the Direct Tax Vivad Se Vishwas Scheme, 2024, for cases where appeals were filed after 22nd July 2024 but within the prescribed time limit. (24.01.2025) Read More »

The Central Board of Direct Taxes (CBDT) has inserted new rule 6GB prescribing the conditions for non-residents to be engaged in the business of operation of cruise ships for section 44BBC. [Notification No. 09/2025 dated 21.01.2025]

The Central Board of Direct Taxes (CBDT) has issued a circular to provide clarity and certainty on the application of the Principal Purpose Test (PPT) provision under India’s DTAAs. The Board has clarified that the PPT provision is intended to be applied prospectively under the India’s DTAAs. [Circular No. 01/2025 dated 21.01.2025]

DGFT: The DGFT has issued a Policy Circular to provide relief under the EPCG Scheme for exporters in sectors where export performance has declined by more than 5% compared to the previous year (2022-23). According to Para 5.17(a) of the Hand Book of Procedures (HBP) for FTP 2023, the Average Export Obligation (EO) for affected …

DGFT: The DGFT has issued a Policy Circular to provide relief under the EPCG Scheme for exporters in sectors where export performance has declined by more than 5% compared to the previous year (2022-23)(22.01.2025) Read More »

DGFT: The DGFT has issued a public notice to outline procedure for implementing “Diamond Imprest Authorisation (DIA) scheme”. [Public Notice No. 42/ 2024-25 dated 21.01.2025]

DGFT: The DGFT has issued a notification to introduce “Diamond Imprest Authorisation (DIA) scheme” under chapter 4 of Foreign, Trade policy 2023 to boost exports of diamonds from India. The scheme will be implemented from 01.04.2025. [Notification No. 53/ 2024-25 dated 21.01.2025]

Income Tax: The Central Board of Direct Taxes (CBDT) has inserted new rule 6GB prescribing the conditions for non-residents to be engaged in the business of operation of cruise ships for section 44BBC. [Notification No. 9 /2025 dated 21.01.2025]

DGFT: The DGFT has issued a notification to amend the export policy for Agarwood (Aquilaria Malaccensis) and its by-products (chips, powder, and oil) obtained from artificially propagated source. Key changes include: Increased Export Limits (2024-2027): Agarwood Chips and Powder: Increased from 25,000 kg to 1,51,080 kg per year. Agar Oil: Increased from 1,500 kg to …

DGFT: The DGFT has issued a notification to amend the export policy for Agarwood (Aquilaria Malaccensis) and its by-products (chips, powder, and oil) obtained from artificially propagated source.(21.01.2025) Read More »

DGFT The DGFT has issued a notification to extend ‘Free Import Policy’ for “Tur/Pigeon Peas (Cajanus / Cajan) falling under ITC HS 0713 60 00 till 31.03.2026. [Notification No. 51/2024-25 dated 20.01.2025]

DGFT: The DGFT has issued a notification to extend ‘Free Import Policy’ for “Tur/Pigeon Peas (Cajanus / Cajan) falling under ITC HS 0713 60 00 till 31.03.2026. [Notification No. 51/2024-25 dated 20.01.2025]

Income Tax: The CBDT has notified that under the Vivad se Vishwas Scheme, appeals filed after 22-07-2024 will be treated as pending if the order was passed on or before that date, the appeal period was available as of 22-07-2024, and the appeal was filed within the permitted time without a delay condonation application. [Notification …

Income Tax:The CBDT has notified that under the Vivad se Vishwas Scheme, appeals filed after 22-07-2024 will be treated as pending if the order was passed on or before that date, the appeal period was available as of 22-07-2024, and the appeal was filed within the permitted time without a delay condonation application.(21.01.2025) Read More »

GST Compensation cess  The CBIC has issued notification to provide that the compensation cess shall be reduced to 0.1% on supplies made to merchant exporters, subject to fulfilment of certain conditions. [No.  01/2025-Compensation Cess (Rate) dated 16.01.2025]

GST: The CBIC has amended Notification No. 01/2017-Central Tax (Rate) to provide that 5% GST shall be levied on Fortified Rice Kernel (FRK) under HSN 1904. Also, the definition of ‘pre-packaged and labelled’ has been amended to cover all commodities that are intended for retail sale and containing not more than 25 kg or 25 …

GST: The CBIC has amended Notification No. 01/2017-Central Tax (Rate) to provide that 5% GST shall be levied on Fortified Rice Kernel (FRK) under HSN 1904.(17.01.2025) Read More »

GST: The CBIC has issued notification to provide that no GST shall be levied on gene therapy and it would be exempt with immediate effect. [Notification No. 02/2025-Central Tax (Rate) dated 16.01.2025]

GST: The CBIC has issued notification to provide that 5% GST shall be levied on food inputs of food preparations under HSN 19 or 21 that are supplied for food preparations intended for free distribution to economically weaker sections under a government program subject to the existing conditions. [Notification No. 03/2025-Central Tax (Rate) dated 16.01.2025]