Latest update 24.06.2025
A. Amendment
DGFT Notif. 20/2025-26 dt 23.06.2025
DGFT issued Notification No. 20/2025-26 dated 23.06.2025 regarding Amendment in Para 2.03(A) (i) (g) of the Foreign Trade Policy, 2023 laying down enabling provisions for import of inputs, that are subjected to mandatory Quality Control Orders (QCOs), by Advance Authorisation holders, EOU and SEZ.
Practical Guide to GST Disputes – ICAI
The GST & Indirect Taxes Committee of The Institute of Chartered Accountants of India, New Delhi has published the First Edition of a Practical Guide to GST Disputes in June, 2025.
Handbook on Invoicing under GST – ICAI
GST & Indirect Taxes Committee of the Institute of Chartered Accountants of India (ICAI) published in June, 2025 the Third Edition of Invoicing under GST. The First Edition was published in May, 2020.
B. Article
No Service Tax leviable on Royalty paid towards the permanent right to use of trade mark
The CESTAT, New Delhi in Bajaj Resources Ltd. held that royalty paid towards the right to use a registered trademark constitutes a ‘deemed sale’ and is not leviable to service tax; accordingly, the demand under Section 73(1) was set aside.
Delay in filing of appeal condoned as Impugned order remained unnoticed on GST portal
The Hon’ble Madras High Court in Red Rose Garments condoned a delay of 72 days in filing an appeal beyond the prescribed period, holding that the Petitioner’s failure to take note of the ex-parte Impugned order uploaded on the GST common portal was a genuine reason. The appeal was restored for hearing on merits, subject to an additional pre-deposit of 15% of the disputed tax amount.
The Hon’ble Allahabad High Court in the case of R.T. Infotech set aside the order denying ITC claimed on seven tax invoices for recharge coupons received from M/s Bharti Airtel Ltd. The Hon’ble Court held that the purchasing dealer, having duly paid tax through banking channels and complied with all legal formalities, cannot be penalized for the supplier’s failure to deposit tax.
C. Tax in media
Bengal may lose ₹25 cr GST as SBI shifts key unit from Kolkata to Mumbai
Kolkata faces a potential state GST loss of nearly Rs 25 crore this fiscal year as the State Bank of India (SBI) moves to relocate its Global Market Unit (GMU) from Kolkata to Mumbai, a civil society organisation has claimed.
HC stays selection of candidates for GSTAT judicial member’s post
Orissa High Court imposed restriction on selectin of candidates for the post of judicial member of Goods and Services Tax Appellate Tribunal (GSTAT) in the state.
A LinkedIn post by CA Arvind C Thomas is gaining traction for revealing how buying a new car in India can come with nearly Rs 6 lakh in taxes, making what should be a middle-class purchase a significant financial burden.
Income tax slabs for ITR filing FY 2024-25 are different under new tax regime: Check details
The income tax return filing for FY 2024-25 (AY 2025-26) is upon us. However, many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is necessary to calculate their tax liability. This is because the income tax slabs for FY 2024-25 (AY 2025-26), i.e., for the previous financial year, differ from those for the current financial year 2025-26.
CBDT taking action for non-responsive taxpayers having foreign income: Finmin
Finance Ministry on Friday said CBDT is taking action against people having foreign income and as many as 5,483 taxpayers have filed belated returns reporting foreign assets worth Rs. 29,208 crore and additional income of Rs. 1,089.88 crore.
Income Tax On High-Value Transactions: How To Avoid Tax Notices?
While filing ITR for FY 2024-25, it’s important to report all your income accurately. The Income Tax Department has increased surveillance on individuals who spend more than their known sources of income. Specifically, high-value transactions are under the scrutiny of the I-T sleuths. Taxpayers who are underreporting income and indulging in high-value expenditures are likely to face action from the Income tax department.
Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chaired the Conclave of Principal Chief Commissioners of Income-tax (Pr.CCsIT) in New Delhi today.
Book: Demystifying GST for the Real Estate Sector
2025 Edition Book on Demystify GST for the Real Estate Sector
Trump’s ‘Big Beautiful Bill’ & its impact on Indian households
On May 22, 2025, the US House of Representatives passed the controversial ‘The One, Big, Beautiful Bill’. The Bill includes a significant provision levying an excise tax on every single dollar of remittance or international money transfer made by non-US citizens.
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