Indirect Tax
A. Update
19th meeting of the Customs Consultative Group (CCG) was held on July 2-3, 2025
Customs Consultative Group (CCG) meeting was held on 2nd & 3rd July, 2025
GSTN is taking downtime to enhance its services on the GST Portal on 05.07.2025 from 01:00 AM onwards until 7:30 am of 05.07.2025.
Gross and Net GST revenue collections for the month of June, 2025
GSTN published Gross and net GST revenue collections for the month of June, 2025.
B. Tax in Media
Eight Years of GST: Charting the Course for a Simpler, Smarter 2.0
As India marks eight years since the implementation of the Goods and Services Tax (GST) on July 1, 2025, it’s time to reflect on its progress and look ahead to GST 2.0.
Focus of GST on promoting ease of doing biz, ensuring better compliance
The focus on the GST, which completes 8 year on Tuesday, will now be on promoting ease of doing business, ensuring stronger compliance and fostering broader economic inclusion, the finance ministry said.
Rs 512-Crore Fake GST Scam Busted In Madhya Pradesh, Mastermind Arrested
Economic Offences Wing (EOW) has unearthed a fake invoicing scam worth Rs 512 crore and fraudulent Input Tax Credit (ITC) claims of Rs 130 crore.
Bosch faces ₹96.3-crore customs demand over import duty and classification dispute
Auto components firm Bosch Limited on Thursday (July 3) said it has received a demand order from the office of the Principal Commissioner of Customs (Import), Air Cargo Complex, Mumbai, related to alleged misclassification of imported components and wrongful availment of duty benefits.
Direct Tax
Guidance Note on Tax Audit u/s 44AB of the Income-tax Act, 1961 – Exposure Draft
Direct Taxes Committee of the ICAI, released Exposure Draft – Guidance Note on Tax Audit u/s 44AB of the Income-tax Act, 1961 on 04.07.25
Online Form ITR-B released for taxpayers who received notice under 158BC
The Income Tax Department has enabled the online submission of Form ITR-B for those who have received notices under Section 158BC of the Income Tax Act. This update allows taxpayers to file their return through the e-Proceeding tab on the official income tax portal.
Income Tax Department looks at these parameters while selecting ITRs for scrutiny
The Income Tax Department has recently rolled out comprehensive guidelines aimed at ensuring complete transparency in routine tasks, such as sending out income tax scrutiny notices. These guidelines explain to taxpayers why their income tax return (ITR) has been selected for a more detailed examination (scrutiny).
ICMAI wants medical insurance, essential commodities under cost audit ambit
ICMAI requesting the Centre to bring medical insurance under the ambit of Cost Audit of the Companies Act, 2013. It has also sought the inclusion of essential commodities and banking sectors under cost audit to prevent price inflation.
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