A. Article
Latest about GSTAT by R.SRIVATSAN, IRS, NACIN, CHENNAI
The official GST Appellate Tribunal (GSTAT) website has been made functional.
GST Webinar: Mysteries of Section 128A and 16(5) Procedures – Resolved | by Adv (CA) Arup Dasgupta | on 21.02.2025 | at 3 pm. | Rs. 300 | Register here https://zcmp.in/2CaG
B. Tax in Media
Big relief for Patanjali Foods as SC quashes Rs 186 crore tax demand
The Supreme Court of India has dismissed the Rs 186 crore tax demand imposed on Patanjali Foods Ltd. The apex court quashed the demand following a Special Leave Petition (SLP) filed by the Principal Commissioner of Income Tax, Central 4, challenging a Bombay High Court ruling.
DGGI cracks down on Rs 29 cr GST fraud, 1 held
The accused in a GST fraud case involving over Rs 29 crore has been arrested. This major action was carried out by the Jaipur zonal unit of DGGI. Following a raid in Bagru on Monday, the arrest was made on Tuesday late evening.
Cigarette prices set to rise? Government may hike GST on tobacco products
The government may increase the Goods and Services Tax (GST) on cigarettes and other tobacco products, according to a report by The Economic Times (ET). This change could happen once the government stops levying the compensation cess on these products.
Income Tax Bill 2025 vs Income Tax Act 1961: A comparison
Finance Minister Nirmala Sitharaman, while introducing the Bill in the Lok Sabha, had said that “substantial changes” have been made in the Bill. The number of words has been halved from 5.12 lakh, and the number of chapters also has been halved to 23 from 47 currently. Following the introduction, the Bill was referred to the select committee of the Lok Sabha that is mandated to submit its report by March 10.
New Income Tax Bill 2025: Representing a historic milestone in India’s tax landscape, Hon. Finance Minster – Madam Nirmala Sitharaman has presented the Income Tax Bill, 2025 (Bill) in the Parliament on 13.02.2025.
Cost accountants equipped to conduct tax audits, get ‘accountant’ status: ICMAI president
Cost accountants are equipped to conduct tax audits, a senior official of the Institute of Cost Accountants of India (ICMAI) said on Thursday
Circular No. 03/2025 dated 20.02.2025
CBDT issued Circular No. 03/2025 dated 20.02.2025 on Income-tax deduction from salaries during the financial year 2024-25 under section 192 of the Income-tax Act, 1961.
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