DGFT / Customs
DGFT Notif. 25/2025-26 dt 19.08.2025
DGFT issued Notification No. 25/2025-26 dated 19.08.2025 regarding Amendment to Para 4.61 and Para 4.63 of FTP-2023
China Lifts Export Curbs On Fertilizers, Rare Earths, Tunnel Boring Machines To India
In a major breakthrough, China has informed India that it has lifted export restrictions on fertilizers, rare earth magnets/minerals, and tunnel boring machines
Government Exempts Customs Duty on Cotton Imports Until 30th September 2025
In a move aimed at stabilizing domestic cotton prices and supporting the textile industry, the Government of India has exempted all customs duties on the import of raw cotton with effect from 19th August 2025 until 30th September 2025.
GST
Global investment advisory firms give thumbs up to GST reform proposals
Global investment advisory firms have welcomed the proposed GST reform.
FM Sitharaman to attend GoM meeting on Aug 20, explain next-gen GST reforms
Finance Minister Nirmala Sitharaman will attend a crucial meeting of a state ministerial panel on August 20 to put forth the Centre’s proposal for sweeping GST reforms that will slash tax rates and lead to reduction in prices of common use items.
GST on Software, SaaS, and Digital Services: Implications and Compliance
The Goods and Services Tax (GST) regime in India has had a transformative impact on the tax landscape across various industries, including the technology sector. Software, Software as a Service (SaaS), and digital services are vital components of the modern economy, and understanding their treatment under the GST law is critical for businesses involved in providing or consuming such services.
Income tax
Notification no. 133/2025 dated 18.08.2025- Income tax
Central Board of Direct Taxes (CBDT) issued notification no. 133/2025 dated 18.08.2025 to further amend the Income Tax Rules, 1962, namely –
Tax-free Limit Of Rs 12 Lakh Excludes Special Income
The government announced in the Union Budget 2025-26 that income up to Rs 12.75 lakh, with a standard deduction of Rs 75,000, will be tax-free under the new tax regime. However, taxpayers should be aware that short-term capital gains and long-term capital gains tax cannot be included in the total income eligible for a full waiver.
e-PAN application services down? Check when this outage will be resolved and application process
The Income Tax Department has issued an update on its e-filing portal regarding a temporary suspension of the Instant e-PAN service.
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