A. Amendment
Notification No. 12/2025-Customs (N.T.) dated 28.02.2025
CBIC issued Notification No. 12/2025-Customs (N.T.) dated 28.02.2025 regarding Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
Notification No. 01/2025- Customs (CVD) dated 25.02.2025
CBIC issued Notification no. 01/2025 – Customs (CVD) dated 25.02.2025 Seeking to continue levy of countervailing duty on imports of ‘Saccharin in all its forms’ originating in or exported from China PR , for 5 years pursuant to Sunset Review Final Findings issued by DGTR
Instruction No.01/2025-Customs dated 28.02.2025
CBIC issued Instruction no. 01/2025-Customs dated 28.02.2025 regarding Admissibility of AIR of duty drawback on export goods manufactured from inputs, some of which are non-duty paid.
DGFT Trade Notice 32/2024-25 dt 28.02.2025
DGFT issued Trade Notice 32/2024-25 dated 28.02.2025 regarding Difficulty in closure of Advance Authorisation due to space constraints in the description column of the shipping bills
B. Article
Supreme Court upholds Arrest Powers under Customs and GST Acts with Robust Safeguards
The Supreme Court addressed a batch of petitions (279) challenging the powers of arrest under the Customs Act and the CGST Act, alongside the constitutional validity of certain provisions, particularly Sections 69 and 70 of the CGST Act.
C. Tax in Media
LIC receives ₹480-crore GST demand for FY21
State-owned insurer Life Insurance Corporation of India (LIC) on Thursday (February 27) said it has received a goods and services tax (GST) demand order from the Deputy Commissioner of State Tax, Mumbai, for the financial year 2020-21. The total demand, including GST, interest, and penalty, amounts to ₹479.88 crore.
Anticipatory bail applicable to GST, customs law even in absence of FIR: SC
In a significant verdict, the Supreme Court on Thursday held that the provision of anticipatory bail is applicable to the Goods and Services Act and customs law and persons can move courts for pre-arrest bail even if an FIR is not in place.
SC introduces safeguards against arrest under GST and Customs Act
The Supreme Court on Thursday introduced necessary safeguards against coercive measures, including arrests, under the Central Goods and Services Tax (CGST) Act and the Customs Act, adding that authorities require to establish “reasons to believe” before initiating proceedings.
Two arrested for fake bill trading, tax credit fraud in Gurgaon
The anti-evasion wing of CGST arrested two persons on Wednesday in connection with a fraudulent claim of Input tax credit (ITC). The companies were engaged in paper trading to cheat the department by claiming fraudulent ITC.
RVNL works contracts eligible for 12% concessional GST, says Madras HC
Settling yet another classification issue related to works contracts for railways involving services given to Rail Vikas Nigam Limited (RVNL), the Madurai Bench of the Madras High Court has clarified that any services given to railways will be charged at 12% GST under a special concessional rate and not at 18%, even when the direct purchasing entity is not Indian Railways.
After HDFC Life, insurers brace for Rs 5,500 cr GST demands amid scrutiny
The Indian insurance industry is bracing for extended legal scrutiny from tax authorities after the GST Adjudicating Authority upheld a tax demand of Rs 2,400 crore against HDFC Life Insurance. The ruling, stemming from allegations of wrongful claims on ITC related to agent commissions, could set a precedent that pushes the industry’s total tax liability beyond Rs 5,500 crore, according to a report by The Economic Times.
Dunkin’, Mad Over Donuts, Among Other Donut And Bakery Chains Face GST Scrutiny Over 18% Tax Demand
At least six major donut and bakery chains, including Dunkin’ Donuts and Mad Over Donuts are under scrutiny from Goods and Services Tax authorities over the classification of their services as authorities argue that these businesses do not qualify as restaurant services, which are taxed at 5% GST, according to people familiar with the matter.
Traveltech firm EaseMyTrip receives Rs 17 lakh GST penalty notice
Online travel platform EaseMyTrip has received a penalty notice of Rs 17.35 lakh from the Sales Tax Officer in Delhi for alleged violations under the Goods and Services Tax (GST) laws.
Lok Sabha panel to record evidence of ICAI, EY representatives on Income Tax Bill
The Select Committee of the Lok Sabha under the chairmanship of BJP Vice President and Lok Sabha MP Baijayant Panda will examine the Income-Tax Bill 2025 on March 6 and 7, 2025.
Going abroad? How to handle your EPF when you move to another country
If you are moving abroad for work, it is important to manage your Employees’ Provident Fund (EPF) account before leaving. Once your employment in India ends, you are no longer eligible to contribute to EPF, making withdrawal an option.
EPFO keeps interest rate at 8.25% for FY25, benefiting 300 million members
Central Board of Trustees (CBT) – the apex decision making body of the Employees Provident Fund Organisation (EPFO) on Friday kept the interest rate on the retirement savings accumulated by its nearly 300 million members unchanged at 8.25 per cent for the financial year 2024-25 This comes against the backdrop of ebbing stock markets and bond yields in the current financial year.
‘Chhaava’ declared tax-free in Chhattisgarh
The BJP government in Chhattisgarh has declared the recently released Hindi film “Chhaava”, based on the life of Chhatrapati Sambhaji Maharaj, tax-free in the state.
Can you claim full tax benefits if your co-borrower loses their job?
Taking a joint home loan is a common practice among individuals looking to purchase a property. This approach not only helps in sharing the financial burden but also offers significant tax benefits under the Income Tax Act. But what if one of the co-borrowers loses job? Can you still claim full tax benefits on a joint home loan? Let us explore how tax benefits can be maximised even in such challenging situations.
CBDT amends norms, mandates detailed income disclosures for business trusts
The government has amended income-tax norms to enhance transparency in reporting income distributed by trusts such as Alternative Investment Funds (AIFs), Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs).
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