Latest update 13.06.2025
A. Amendment
Notification No. 41/2025-Customs (N.T.) dated 11.06.2025
CBIC issued Notification No. 41/2025-Customs (N.T.) dated 11.06.2025 regarding Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s Bando(India) Pvt. Ltd.
Notification No. 42/2025-Customs (N.T.) dated 11.06.2025
CBIC issued Notification No. 42/2025-Customs (N.T.) dated 11.06.2025 regarding Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
DGFT-Public Notice No. 10/2025-26 dated 12.06.2025
DGFT issued Public Notice No. 10/2025-26 dated 12.06.2025 regarding Amendment in details of an authorized agency enlisted under Appendix 2E of FTP, 2023 – Agency Authorized to issue Certificate of Origin (Non – Preferential)
DGFT-Public Notice No. 11/2025-26 dated 12.06.2025
DGFT issued Public Notice No. 11/2025-26 dated 12.06.2025 regarding Amendment under Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Appendices and ANFs of FTP 2023
B. Article
Half-Cooked Precedent on ITC Refund after Business Closure?
by CA Navjot Singh
Ordered cash refund with interest, saying Section 49(6) & 54(3) contain “no express prohibition” against refund on closure of business
Refund of ITC in GST permissible in Case of discontinuation of Business
by CA Bimal Jain
The Hon’ble Sikkim High Court in SICPA India Private Limited & Anr. held that refund of unutilized ITC can be claimed even in case of closure of business. Further, the Court observed that there is no express prohibition under Section 49(6) read with Sections 54 and 54(3) of the CGST Act restricting such refund. Although Section …
by CA Bimal Jain
The Hon’ble Delhi High Court in the case of Delhi MSW Solutions Ltd. disposed of the writ petition, directed the concerned authority to grant a personal hearing with respect to rectification application proceedings and communicate the hearing date through both the official portal and counsel of the Assessee.
Book: Analysis of GST Returns interlinking of returns for compliance enhancement
C. Tax in Media
CBIC lays down plan for supportive, people-focused tax regime
CBIC has laid down an annual plan for a supportive, people-focused and tech-driven tax administration for FY26, its chairperson Sanjay Kumar Agarwal said.
CBI arrests U.P. CGST superintendent in bribery case
The CBI has arrested two people, including a superintendent of Central Goods and Services Tax (CGST) in Uttar Pradesh, while they were allegedly accepting bribe of ₹1 lakh for waiving penalty on a private company, officials said.
Madras High Court quashes GST adjudication deadline extensions for these financial years
In a ruling that could affect several businesses, the Madras High Court has struck down government notifications that extended the time limit for GST assessments for older financial years.
HC orders refund of input tax credit on closure of operations
Book: GST An Evaluation
GST filing gets tougher: No room for error in GSTR-3B from July
From July onwards, taxpayers will no longer be able to edit auto-populated tax liability in their GSTR-3B returns. The GST Network (GSTIN) has rolled out this update, aiming to curb misuse and plug revenue leakages. However, tax experts warn that this will warrant higher accuracy from suppliers and could trigger cash flow challenges for buyers.
ITR 2025: These rules govern the switching of income tax regime from new to old
Since the new tax regime is the default tax regime, filing income tax return (ITR) under the old regime would require you to switch from the new tax regime. However, before you do that — it is imperative to be aware of certain key rules which govern the switch.
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