GST
Understanding Rule 37A of the CGST Rules – Reversal and Re-availment of Input Tax Credit (ITC)
Rule 37A – Reversal of input tax credit in the case of non-payment of tax by the supplier and re-availment thereof (Inserted via Notification No. 26/2022 – Central Tax, dated 26.12.2022)
Customs
Customs To Pay Ludhiana Importer Rs 50 Lakh For Delayed Kiwi Consignment
The Punjab and Haryana High Court lambasted the Customs department and a private shipping company, instructing them to pay Rs 50 lakh in compensation to a Ludhiana-based fruit importer.
Income tax
The select committee of Lok Sabha has found a couple of drafting issues in Clause 21 of the Income Tax Bill 2025, which talks about the annual value of residential house properties and has recommended two key changes.
The government on Friday formally withdrew the Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 this year to replace the existing Income-Tax Act, 1961.
CBDT to extend the Due Date for ITR filing
CBDT to extend the ITR filing due date
Staffer misuses firm’s GST data to generate Rs. 10 crore invoice, faces FIR
The owner of a home decor exporting business has filed a cyber crime complaint against the accountant of her firm for allegedly generating fake invoices worth Rs.10 crore using the company’s GST portal credentials.
Customs Issues ₹140 Cr Demand on Bosch For Differential Duty on Oxygen Sensors
Auto component manufacturer Bosch announced on Thursday that has been issued a demand of over ₹140 crore, along with interest, from the Indian customs authority on grounds of differential duty on oxygen sensors.
Withdrawal of the Income tax Bill, 2025
Government to withdraw the Income tax Bill, 2025
Excel Utility of ITR-5 for AY 2025-26 is available for filing
Excel Utility of ITR-5 for AY 2025-26 is available for filing.
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