A. Amendment
DGFT Notif. 61/2024-25 dt 07.03.2025
DGFT issued Notification No. 61/2024-25 dated 07.03.2025 regarding Amendment in Export Policy of Broker Rice under HS Code 1006 40 00
Notification no. 18/2025 dated 06.03.2025- Income tax
CBDT issued notification no. 18/2025 dated 06.03.2025 to hereby notify for the purpose of clause 46 of section 10 of the Income-tax Act, 1961 (43 of 1961), “The Delhi Building and Other Construction Workers Welfare Board” (PAN: AAAJT1846R), a Board established by Government of National Capital Territory of Delhi, in respect of the following specified income arising to that Board, namely –
B. Tax in Media
GST Council revamps GoM for sector-specific tax policy suggestions
The GST Council has reconstituted the Group of Ministers on GST revenue analysis which will suggest sector-specific issues that need policy intervention, and the feasibility of a unified enforcement platform to check tax evasion.
GST Council constitute GoM to examine levy of natural calamity cess by a particular state
GST Council has constituted a Group of Ministers (GoM) to suggest recommendations for revenue mobilisation in case of natural calamities or disasters. It has reconstituted another GoM on analysis of revenue from GST.
Pollachi jeweller arrested for Rs.6.53 crore GST evasion
A partner of a Pollachi based retail jewellery firm was arrested by GST officials on Wednesday for tax evasion to the tune of Rs.6.53 crore.
Section 87A tax rebate on STCG income allowed by CIT (Appeals)
The Mumbai bench of Commissioner of Income-tax (Appeals) has decided in the favour of Section 87A tax rebate on special rate incomes. The CIT (A) Mumbai held on February 27, 2025 that Section 87A tax rebate is available on special rate income like Short Term Capital Gains (STCG) and accordingly issued instructions to the assessing officer (AO) to allow it in the case under its consideration.
ICAI submits suggestions to LS committee on new Income Tax Bill; proposes simplification
The Institute of Chartered Accountants of India (ICAI) on Thursday submitted a raft of suggestions to the Lok Sabha Select Committee that is scrutinising the new Income-tax Bill, its president, Charanjot Singh Nanda, said. These include pruning the number of sections in the bill, simplifying the language and reducing the scope for litigations.
EPFO 3.0 will rollout soon: Union Minister
Union Labour Minister Mansukh Mandaviya on Thursday said that the employees provident fund organisation (EFPO) will soon launch the “EPFO 3.0 version.” He added that the enhanced version will allow subscribers to withdraw their provident fund directly from ATMs, among other new features.
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