Month: January 2025
Notification no. 07/2025 – Central Tax dated 23.01.2025
CBIC issued Notification no. 07/2025 – Central Tax dated 23.01.2025. The Central Goods and Services Tax Rules, 2017, is amended to insert new rule 16A which provides for granting a proper officer a temporary identification number.
No more reopening, re-assessment of old ITR beyond 3 years if escaped income is below Rs 50 lakh
Budget 2024 has introduced a significant relief, as tax authorities can no longer reopen old income tax returns (ITR) beyond the specified time limits. Finance Minister Nirmala Sitharaman said while presenting Budget 2024, “I propose to thoroughly simplify the provisions…
Union Budget 2025 Expectations Highlights: Anticipation high for FM Nirmala Sitharaman’s speech
Anticipation is running high among industry stakeholders and citizens as we get nearer to Finance Minister Nirmala Sitharaman’s Budget announcement. From ordinary taxpayers, to tech, healthcare, insurance, and finance sectors, hopes are high for income tax cuts, GST sops and other initiatives.
CBIC cautions against fraudsters issuing fake and fraudulent Summons for GST violations
Taxpayers can verify online any communication from DGGI or any office of CGST by using the ‘VERIFY CBIC-DIN’ window on the CBIC’s website https://esanchar.cbic.gov.in/DIN/DINSearch
Budget 2025: What is halwa ceremony and when will it be held?
As the nation gears up for Union Budget 2025, the customary halwa ceremony will take place today at 5 pm in the North Block that houses the Ministry of Finance.
CBIC notifies rules for entities to get temporary GST identification number
Entities that are not required to get a GST registration but are required to make a tax payment under the GST Act provision can now obtain a Temporary Identification Number (TIN).
GSTN-Advisory on Business Continuity for e-Invoice and e-Waybill Systems
GSTN issued an advisory dated 24.01.25. This advisory is issued to highlight the alternate mechanisms and business continuity plans available for both the e-Invoice and e-Waybill systems.
Gurugram CJM Court declares arrest is illegal by GST Officer
The Learned CJM in the case of CGST vs Mr. Yogesh Gupta declared the arrest by the GST officer illegal as the ground of arrest not informed in a proper manner and merely a formality was done by the prosecution by providing grounds of arrest in writing. The Court noted that the prosecution was under obligation to comply with the provisions of Section 41, 41A of the Cr.PC /Section 35 of the BNSS Act before arresting the accused but the same has not been complied and as such, arrest of accused cannot be termed as legal.