Latest update 24.04.2025

A. Amendment

DGFT Trade Notice 03/2025-26 dt 23.04.2025

Directorate General of Foreign Trade (DGFT) issued Trade Notice 03/2025-26 dated 23.04.2025 seeking Inputs on Amendments for Export of SCOMET Items for ‘Testing and Evaluation’ purposes.

DGFT Notif. 5/2025-26 dt 23.04.2025

DGFT issued Notification No. 5/2025-26 dated 23.04.2025 regarding Amendment in Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS), 2022

Notification no. 35/2025 dated 22.04.2025- Income tax

CBDT issued notification no. 35/2025 dated 22.04.2025 to make amendment in TCS provision in the Income tax Rules, 1962.

Notification no. 36/2025 dated 22.04.2025- Income tax

CBDT issued notification no. 36/2025 dated 22.04.2025 notifying the following goods of the value exceeding ten lakh rupees for collection of tax at source as specified therein

Notification no. 37/2025 dated 22.04.2025- Income tax

CBDT issued notification no. 37/2025 dated 22.04.2025 to notify “National Mission for Clean Ganga”, an authority constituted under the Environment (Protection) Act, 1986, for the purposes of section 10(46A)(b) of the Income-tax Act, 1961

B. Article

Kerala HC Judgment in the case of IMA & its Impact on GST for RWAs by R.SRIVATSAN, IRS, NACIN, CHENNAI

C. Tax in Media

R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR

Diagnostic services for conducting blood tests which assists in early detection of cancer fall out of the periphery of ‘Healthcare services’, Maharashtra’s Authority for Advance Ruling (MAAR) has ruled. This means such a service will not be exempted from GST.

Bombay High Court gives GST relief to homeowners: No GST on re-development by homeowners through builder under these terms

In a relief for homeowners or landowners, the Bombay High Court on April 8, 2025, ruled that no Goods and Services Tax (GST) can be levied on re-development of a land by a homeowner/ landowner through a builder in specific cases where the development rights are not sold.

Tax dept tightens claims scrutiny: Key rules for rent paid to parents

Many salaried individuals claim tax exemption on house rent allowance (HRA) by paying rent to family members, such as parents. While this is legally permissible, the Income Tax Department has intensified scrutiny of such claims.

Buying luxury goods? Handbags, wrist watches, footwear & other items above Rs.10 lakh to now attract 1% TCS

Handbags, wrist watches, footwear and sportswear priced above Rs.10 lakh will now attract a 1% tax collected at source (TCS). In a notification released on 22.04.2025 the Income tax department detailed categories which will now be subjected to this TCS.

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