A. Amendment
Rajasthan-GST Notification no.822 dt 27.02.2025
Rajasthan Commercial Tax Department issued Notification on 27.02.2025 prescribing procedures for Amnesty Scheme 2025 for disposal of outstanding demand or disputed amount.
DGFT-Public Notice No. 49/2024-25 dated 03.03.2025
DGFT issued Public Notice No. 49/2024-25 dated 03.03.2025 regarding Fixation of one new Standard Input Output Norms (SIONs) at SION A-3684 under ‘Chemical and Allied Product’ (Product Code ‘A’)
B. Portal updates
Gross and Net GST revenue collections for the month of Feb, 2025
Enhancements in Biometric Functionality – Allowing Directors to Opt for Biometric Authentication in Their Home State
You may be aware that new GST registration applicants who opt for Aadhaar authentication are required to undergo the process either through OTP verification or Biometric Authentication at a designated GST Suvidha Kendra (GSK), based on system-driven data analysis. To facilitate a seamless process, GSTN provides a slot booking facility, with the link shared in the intimation email sent to the applicant.
C. Tax in Media
Indian Overseas Bank shares slip 4% after receiving Rs 700 cr GST notice
The shares of Indian Overseas Bank (IOB) slipped 4.4% to an intraday low of Rs 41.63 on the BSE on Monday, March 3, after the company announced that it had received a GST notice from the Deputy Commissioner (ST)-III, Large Taxpayers Unit, Chennai-35 for Rs 699.52 crore.
Hyundai Motor India receives GST notices worth nearly ₹17.5 crore; stock down 7% in five sessions
South Korean automaker’s Indian arm, Hyundai Motor India Limited, received two goods and service tax (GST) notices from the Government of Tamil Nadu and the Government of Maharashtra, amounting to nearly 16 crore, according to an exchange filing on Friday, February 28.
Govt may ease norms to allow 2-month window for ITC on credit notes
In a major relief to goods and services tax (GST) payers, the government is likely to amend Central GST (CGST) Rules, allowing recipients of goods and services up to two months to accept or reject a credit note and adjust the input tax credit (ITC) taken.
Ride apps switch to subscription model amid conflicting rulings on GST liability
Uber has switched to a cash-only model for auto rickshaw rides, joining competitors Namma Yatri, Rapido, and Ola, despite conflicting tax rulings by the Authority for Advanced Ruling (AAR) on whether ride aggregators must continue collecting Goods and Services Tax (GST) from passengers.
Piramal Enterprises receives GST demand of ₹1,502 crore
Non-bank lender Piramal Enterprises Ltd (PEL) on Friday (February 28) said it has received a ₹1,502-crore demand notice from the GST Department, Maharashtra, for FY2020-21.
Capital gains tax in India is a bad idea: Samir Arora, Helios Capital
Levying capital gains tax on those who invest in India, especially the foreign investors, is a bad idea, and is possibly the Central government’s “biggest mistake,” said Samir Arora, founder and chief investment officer of Helios Capital at the Business Standard Manthan Summit 2025.
Tax department probes unlisted share transactions, tax evasion in OFS sales
The Income Tax (I-T) Department has launched an investigation into transactions involving promoters, their associates, and anchor investors who purchased unlisted shares of companies and later offloaded them through offers for sale (OFS) when these companies went public, according to a report by The Economic Times.
Manan Kumar re-elected as BCI Chairman
Senior advocate and BJP Rajya Sabha MP Manan Kumar Mishra has been re-elected unopposed as the Chairman of the Bar Council of India (BCI) for an unprecedented seventh consecutive term.
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