Latest update 11.09.2025

Foreign Trade

Notice-Advance registration on SIMS portal

Trade & Taxation Division of Ministry of Steel issued Notice on 10.09.2025 regarding the advance registration period to apply for registration on the Steel Import Monitoring System (SIMS) portal for import of all steel products from Sri Lanka.

Press Release-GST

New GST rates will prove to be a boon for farmers

Press conference of Union Agriculture and Rural Development Minister Shri Shivraj Singh Chouhan

New GST rates: A boon for agriculture and farmers’ prosperity

With the reduction in GST rates, farmers, agricultural and dairy workers, and livestock owners across the country are expressing joy and gratitude to Prime Minister Shri Narendra Modi and Union Finance Minister Smt. Nirmala Sitharaman

Regulation of Biostimulant Products under Fertilizer Control Order (FCO), 1985

Bio-stimulants specified in the Schedule VI shall be classified under any of the following categories, namely:-

GST Rate Rationalisation: GST on Drones Slashed to 5%

The GST reforms approved by the 56th GST Council Meeting will support the growth of various sectors including India’s rapidly growing drone ecosystem.

GST Rationalisation for a Competitive Economy, Thriving MSMEs, and Consumer Welfare

The Government of India has unveiled a set of GST rate rationalisation measures aimed at lowering costs, addressing duty-related distortions, and boosting competitiveness across diverse sectors such as paper, leather, wood, handicrafts, commercial vehicles, tractors, food processing, textiles, toys, and packaging materials.

Prime Minister hails NextGen GST reforms in enhancing ease of living and building Viksit Bhara

He hailed the latest phase of the #NextGenGST reforms which continues this journey by simplifying tax structures, rationalising rates, and making the system more equitable and growth-oriented.

GST-Media

GST 2.0’s bumpy ride: Stuck with old stock, car dealers face Rs 2,500 crore loss in cess

An empty car showroom with barely any buyers, hassled managers looking to clear the stocks in their inventory, struggling to explain the math behind the car pricing that simply doesn’t align with the rate reductions promised under GST 2.0, at least for now

Representation on Challenges due to Delayed Release of ITR Forms, Portal Glitches, and Data Mismatches in AIS

KSCAA has submitted a representation to the Union Finance Minister highlighting difficulties faced by taxpayers and professionals due to delayed release of Income Tax Return (ITR) forms, persistent portal glitches, and mismatches in the Annual Information Statement (AIS) for AY 2025–26.

India hoped for ‘big’ GST reform, received only a revised rate card

A long-overdue reduction in India’s consumption taxes is yet to take effect, but Prime Minister Narendra Modi has already hailed it as the nation’s “biggest reform” since independence in 1947. But if the change is as dramatic as it’s cracked up to be, why is the stock market not impressed? 

Income tax-media

Pay more than Rs 20,000 in cash for these transactions and get ready to pay up to 100% penalty, says tax dept

According to Section 271DD of the Income Tax Act, 1961 if you break the mandate of not using cash beyond the specified threshold of Rs 20,000, you could face penalty equal to the cash amount you received.

ITR filing deadline alert: Why Finance Ministry may not extend September 15, 2025 due date

The Finance Ministry has recently issued a reminder of the Income Tax Return (ITR) filing deadline of September 15, 2025. The reminder has detailed information that the taxpayers of different categories require to file their ITR. The document dated September 7, 2025, appears to indicate that the ITR deadline may not be extended for taxpayers whose accounts does not require audit.

Income Tax: Why does almost everyone want ITR filing deadline to be extended beyond 15 September?

The last date to file an income tax return is 15 September 2025. So far, only five crore returns have been filed across India, reveals the latest data of the Income Tax (I-T) department as on 8 September.

Extend ITR deadline to October 15, demands ATBA due to tech issues and glitches with ITR portal like errors in validation, slow uploads

The Karnataka State Chartered Accountants Association (KSCAA), the central council (CIRC) of Institute of Chartered Accountants of India (ICAI) and Advocates Tax Bar Association (ATBA) have all sent a representation to the Ministry of Finance highlighting various issues with the e-filing ITR portal.

Other-media

Madras HC sets aside EPFO circular, clears path for higher pension claims

The Madurai Bench of the Madras High Court, on September 2, set aside an Employees’ Provident Fund Organisation (EPFO) circular dated January 18, which disallowed firms managing their own PF trusts to amend their rules retrospectively in order to avail higher pension for their members, in line with a Supreme Court judgment that enabled workers to get a higher pension in November 2022.   

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