Latest update 09.09.2025 – OnlineTaxUpdate

DGFT Notif. 29/2025-26 dt 08.09.2025

Customs

Customs officials booked for facilitating exports of fake jewellery: CBI

The CBI has booked four customs officials for allegedly facilitating exports of fake gold jewellery valued at Rs 487 crore from the Chennai airport to claim customs duty refund and receiving Rs 6.99 crore as a bribe for it, officials said.

Govt keeping ‘good watch’ on rupee as several currencies fall, says FM

Finance Minister Nirmala Sitharaman has said that the government is keeping a ‘good watch’ on exchange rates, stressing that besides rupee several other currencies have depreciated against the US dollar.

Tamil Nadu hotels to boycott U.S.-based beverages over Trump’s tariffs

The Tamil Nadu Hotel Owners Association, on Wednesday (September 4, 2025), announced a boycott of mineral water and beverage products manufactured by United States-based companies, as well as a plan to log out of food delivery apps, such as Swiggy and Zomato, and instead migrate to a home-grown app.

GST

GST Rate Reduction from 18% to 5% – Is Input Tax Credit (ITC) Reversal Required Under Section 18(4)?

An analysis of rate reduction from 18% to 5% impact on input tax credit. Whether reversal u/s 18(4) is required or not?

Unused ITC, inverted duty structure under review as govt explores GST relief

In an inter-ministerial review chaired by Cabinet Secretary TV Somanathan ahead of the September 22 rollout of GST reforms, officials discussed ways to deal with sectoral concerns over compensation cess, unused input tax credit (ITC), and the inverted duty structure, Business Standard has reported.

FM Sitharaman has a message of hope for exporters hit by Trump tariffs

The Indian government is working on a comprehensive package to support Indian exporters impacted by a steep 50 per cent tariff imposed by the US, Finance Minister Nirmala Sitharaman has said, asserting a multi-departmental engagement is underway to assess the impact on Indian shipments.

Centre may introduce Bill in winter session to replace tobacco GST cess

The Union government is considering introducing a bill during the winter session of Parliament to impose a new levy on tobacco and related products, replacing the existing GST compensation cess, according to a report in the Economic Times.

GST Diwali Dhamaka has a catch, but govt is watching

The government is keenly monitoring businesses and industry to ensure that the GST rate cuts, effective from September 22, first day of Navratri, reach the common person.

GST Council eases rules on credit notes, relief for FMCG players

The GST Council has given relief to businesses, particularly fast-moving consumer goods companies, by removing the rule that required credit notes to be linked with invoices.

GST 2.0: CBIC clarifies social media claims about transition benefits under revised GST rules are false

The Central Board of Indirect Taxes and Customs (CBIC) has dismissed a viral message circulating on social media that claimed that the new transition benefits under the revised GST rules will be applicable from September 22, 2025.

Court bars journalists from publishing ‘defamatory’ content against Adani

In a significant relief to Adani Enterprises Limited (AEL), a Delhi court on Saturday passed an interim order restraining a group of journalists, activists and foreign-linked organisations from publishing or circulating allegedly unverified and defamatory content against the company.