Latest update 26.03.2025

A. Amendment

DGFT Trade Notice 35/2024-25 dt 25.03.2025

DGFT issued Trade Notice 35/2024-25 dated 25.03.2025 Seeking comments on proposal to make GST E-Invoices received through GSTN to DGFT BO portal mandatory for claiming Deemed Export Benefits under FTP pursuant to the provisions of Para 1.07A and B of FTP 2023

Notification no. 21/2025 dated 25.03.2025- Income tax

CBDT issued notification no. 21/2025 dated 25.03.2025 to amend the Income-tax Rules 1962. These rules may be called the Income-tax (Sixth Amendment) Rules, 2025

B. Tax in Media

Goa CM Sawant appointed convenor of GoM on GST revenue analysis

Goa Chief Minister Pramod Sawant has been appointed as the convenor of the Group of Ministers (GoM) on GST revenue analysis, officials said on Tuesday.

IndusInd Bank share price falls over 5% after ₹30 crore penalty for ‘various GST issues’

IndusInd Bank share price declined more than 5% on Tuesday, after the private lender informed that the GST authorities in Thane district have imposed a penalty of over ₹30.15 crore for various issues.

Lok Sabha passes Finance Bill 2025 with 35 amendments: Here’s all you need to know

The Lok Sabha passed the Finance Bill 2025 on Tuesday, March 25, along with 35 government amendments, including one abolishing a six per cent digital tax on online advertisements. With the passage of the Finance Bill 2025, the Lok Sabha completed its part of the Budgetary approval process. The Upper House, Rajya Sabha, will now consider the Bill. After the Rajya Sabha approves the Bill, the Budget process for 2025-26 will be complete.

New Income Tax Bill to be taken up for discussion in monsoon session of Parliament: FM Sitharaman

Virat Kohli to pay heavy Income tax on his IPL salary

Virat Kohli is expected to pay based on his IPL 2025 salary. We will also find out his salary for the IPL. Let’s dive in.

Care Health Insurance gets ₹ 104.7 cr demand notice from Income Tax Dept

Religare Enterprises Ltd (REL) on Monday said its subsidiary Care Health Insurance has received a demand notice of Rs.104.77 crore for the assessment years 2020-21and 2021-22.

Tax departments withdrew 6,599 appeals from tribunals, courts: Govt

The tax departments have withdrawn 6,599 appeals filed before tribunals, High Courts and the Supreme Court following enhancement of monetary limits for filing such cases, Parliament was informed on Monday.

Supplementary FAQs for the FA Bill 2025

Income tax India.gov.in published an FAQs on the amendment to Income tax Act, 1961

Samsung was slapped with tax demand of ₹5,156 crore for telecom imports

Tax authorities have ordered Samsung and its executives in the country to pay ₹5,156 crore ($601 million) in back taxes and penalties for dodging tariffs on import of key telecoms equipment, a government order showed, for one of the biggest such demands in recent years.

Lok Sabha to resume discussion on Finance Bill

The Lok Sabha will resume discussions on the Finance Bill, 2025, on Tuesday. A day earlier, Union Finance Minister Nirmala Sitharaman introduced the Bill for the 2025-26 fiscal in Parliament, seeking approval for key Budget proposals.

India removes Google tax starting 1st April 1

India will eliminate its 6% digital advertising tax, known colloquially as the “Google tax”, starting April 1, in a strategic move to ease tensions with the United States and prevent potential retaliatory tariffs, Finance Minister Nirmala Sitharaman announced.

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