Latest update 15.07.2025 – OnlineTaxUpdate

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A. Amendment

DGFT Trade Notice 07/2025-26 dt 14.07.2025

B. Tax in Media

Chhattisgarh Waives Old VAT Dues, Offers Relief To 40,000 Traders

Small traders can heave a sigh of relief as the Chhattisgarh government has decided to waive VAT dues of up to Rs 25,000 in cases pending for more than 10 years : officials said on Saturday.

GST department likely to probe 29 celebrities booked for promoting illegal betting apps

The investigation against 29 actors, influencers, and YouTubers for allegedly endorsing illegal online betting platforms may soon expand to include scrutiny by the Goods and Services Tax (GST) department, according to emerging reports.

Brothers nabbed for running betting, tax evasion racket in Ludhiana

The special cell of Ludhiana Police arrested two brothers for allegedly running a cricket betting racket and creating bogus firms to evade taxes.

C. Article

Documents Required for Claiming Input Tax Credit (ITC) under GST

by RAJAGOPAL K

Know the Document required for claiming Input Tax Credit

Section 16 Understanding Input Tax Credit (ITC) Eligibility under GST

by RAJAGOPAL K

In-depth Analysis of Input Tax Credit provision under GST Act

D. Income tax

Notification no. 74 to 113/2025 dated 11.07.2025- Income tax

CBDT issued notification no. 74 to 113/2025 all dated 11.07.2025 to extend the exemption u/s 10(23FE)(b)(vi) from 31st March, 2025 till 31st March, 2030.

Income Tax Department cracks down on bogus claims of deductions & exemptions

Investigations uncover organised rackets operated by certain ITR preparers and intermediaries filing returns, claiming fictitious deductions and exemptions

Income tax department launches massive crackdown against fraudulent deductions

In a massive crackdown against fraudulent claims of deductions and exemptions, the income tax department on Monday raided, in a coordinated manner, 150 premises across various states of entities facilitating such deductions, especially against donations to political parties and charitable trusts.