A. Amendment /update
DGFT – Policy Circular No. 1/2025-26 dated 15.07.2025
Directorate General of Foreign Trade (DGFT) issued Policy Circular no. 1/2025-26 dated 15.07.2025 giving Clarification on Export of “Organic Textiles”.
India should avoid rushing for trade pact with US, warn experts
India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU.
India, US Finalise Interim Trade Pact: GM Crops Rejected, Tariffs Rationalised
In a major diplomatic and economic development, India and the United States are poised to sign a long-anticipated interim trade agreement this week. Sources close to the negotiation table have confirmed to Times Now that the deal was finalised after months of intense deliberation between top officials from both sides, with direct oversight from Prime Minister Narendra Modi and US President Donald Trump.
Tax in Media
Karnataka’s GST evasion notices prompt shopkeepers to turn down UPI payments
The Karnataka Commercial Tax Department’s decision to issue demand notices to traders over evasion of GST despite having an annual turnover of more than Rs 40 lakh via UPI payments has made small traders and shopkeepers wary of accepting digital payments, with some even removing UPI QR code stickers from their establishments in Bengaluru following the crackdown.
Bybit Imposes 18% GST on Indian Users Amid Tax Crackdown
Bybit, a prominent cryptocurrency exchange, has announced that it will impose an 18% Goods and Services Tax (GST) on service and trading fees for all its users in India. This decision, effective from July 7, 2025, comes as part of a broader tax crackdown on the cryptocurrency industry in India.
Supreme Court relief for IndiGo & SpiceJet: No retrospective IGST on reimported aircraft parts
In a relief to airlines InterGlobe Aviation and SpiceJet Ltd, the Supreme Court on Monday dismissed the customs department’s appeal seeking to levy integrated goods and services tax (IGST) retrospective on reimport of aircraft or aircraft parts into India after their repairs outside the country.
Recent reports in the media and the buzz in the market indicate that the GST Council meeting is likely in the next two weeks. Rate rationalisation is one of the key agendas. Despite multiple rounds of discussions, from the 45th GST Council meeting in 2021 to the recent 55th meeting in December 2024, a consensus on it has remained elusive.
Karnataka Commercial Taxes Department officials have unearthed a multi-State GST racket and arrested a Rajasthan-based “fake bill trader” who had allegedly facilitated the fictitious transfer of input tax credit (ITC) of ₹39 crore under Goods and Services Tax (GST) to various manufacturers through fake firms in Karnataka.
Multi-state GST fraud: Jobless UP man’s IDs used for Rs.250 crore, 5 held from Rajasthan
UP Police’s Special Task Force (STF) arrested five men from Barmer district in Rajasthan on Thursday for allegedly running a multi-state GST evasion racket by using a jobless Muzaffarnagar main’s stolen identify to create over 100 shell firms registered in Delhi, Rajasthan. UP, etc., but operated in Karnataka.
Amit Shah to meet states, ministries to hold talks on GST rate overhaul: Report
Union Home Minister Amit Shah will lead talks with states and central ministries to build consensus on key changes to the Goods and Services Tax (GST) system, according to an Indian Express report.
Income tax
Notification no. 114/2025 dated 14.07.2025- Income tax
Central Board of Direct Taxes (CBDT) issued notification no. 114/2025 dated 14.07.2025 to provide exemption u/s 10(46) to ‘Baddi Barotiwala Nalagarh Development Authority’, an Authority constituted by the State Government of Himachal Pradesh, in respect of the following specified income arising to that Authority, namely:
Notification no. 115/2025 dated 14.07.2025- Income tax
CBDT issued notification no. 115/2025 dated 14.07.2025 to provide exemption u/s 10(46) of the Income tax Act, 1961 to ‘District Legal Service Authority’ as specified in the Schedule to this notification, constituted by Government of Haryana for every District in the State of Haryana in exercise of powers conferred by sub-section (1) of section 9 of the Legal Services Authorities Act, 1987 (Central Act No. 39 of 1987), as a ‘class of body’ in respect of the following specified income arising to that body, namely:—
Delhi HC stays Rs 1,140 crore tax demand against Oyo
In a big relief to OYO Hotels & Homes, the Delhi High Court has stayed the recovery of tax demand of Rs 1,140 crore raised under provisions of the so-called angel tax for the assessment year 2021-22 (Apr-Mar).
ITR filing last date for FY 2024-25 is not same for all
Check due dates for salaried individuals, professionals, companies, proprietorship firms, other taxpayers
EPFO grievance portal: Step-by-step guide to raise and track complaints
The grievance management portal of the Employees’ Provident Fund Organisation (EPFO) offers a streamlined way to register complaints and track their status without multiple visits to the regional office.
Centre clears transfers and appointments of Chief Justices and judges of various High Courts
The Central government on Monday (July 14, 2025) cleared the transfers and appointments of Chief Justices and judges of several High Courts across country.
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