Latest update 26.04.2025
A. Amendment
Customs
Notification No. 28/2025-Customs (N.T.) dated 23.04.2025
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
Notification No. 30/2025-Customs (N.T.) dated 24.04.2025
Goods Imported (Conditions of Transshipment) Regulations, 2025
DGFT
DGFT-Public Notice No. 03/2025-26 dated 24.04.2025
Fixation of SION No. A-3685
Income tax
Goods and Services Tax Appellate Tribunal (Procedure) Rules, 2025
Ministry of Finance published Notification dated 24.04.2025 prescribing the rules for regulating the procedure and functioning of GSTAT – GST Appellate Tribunal.
Notification no. 38/2025 dated 23.04.2025- Income tax
CBDT issued notification no. 38/2025 dated 23.04.2025. The Central Government hereby notifies that any expenditure incurred to settle proceedings initiated in relation to contravention or defaults under the following laws shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure, namely:–
Notification no. 39/2025 dated 24.04.2025- Income tax
CBDT issued notification no. 39/2025 dated 24.04.2025. The Central Government hereby notifies ‘Mysore Palace Board’, a Board established under the Mysore Palace (Acquisition and Transfer) Act, 1998 for the purposes of the clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), in respect of the following specified income arising to the said Board, namely:
Income tax India released Section heading as per Income-tax Act, 1961
Form 10AB condonation request for Section 12A is now available for filing
Form 10AB condonation request for Section 12A is now available for filing on the e-filing portal pursuant to the Finance Act (No. 2), 2024. Refer to proviso to clause (ac) of Section 12A(1) of the Income Tax Act.
Common Offline Utility (ITR 1 to ITR 4)
Common Offline Utility for filing Income-tax Returns ITR 1, ITR 2 and ITR 4 for the AY 2024-25.
Tax in Media
Govt notifies rules for GST appellate tribunals; provides for mandatory e-filing, hybrid hearing
The government has notified the Goods and Services Tax Appellate Tribunal (Procedure) Rules, which provide for mandatory e-filing of applications and conducting hearings in a hybrid mode. The rules also provide that any urgent matter filed by an applicant before 12:00 noon shall be listed before the Appellate Tribunal on the following working day, if the application is complete in all respects.
One time tax settlement scheme 2025 by Haryana govt
The Haryana state Excise and Taxation department has released many important frequently asked questions (FAQs) on the Haryana One Time Settlement Scheme, 2025 (OTS Scheme)
Collegian gets GST notice for 35cr transactions in bank a/cs
A 20 year old student received a notice from the Income tax department, asking her to pay GST for transactions running into Rs. 35 crore reflected in her various bank accounts over eight months.
GST Appellate Tribunal goes live: Check details on digital filing, hybrid hearings & more
India has operationalised the long-awaited Goods and Services Tax Appellate Tribunal (GSTAT), with the government notifying the framework effective April 24, 2025. The move marks a major step in streamlining tax litigation under the GST regime. Under the new rules, all appeals and applications must be filed digitally via the official GSTAT portal.
US tariffs likely to hit India’s growth directly by as much as 0.5% points, says FinMin Secy
As India gets cracking on working on a trade deal with United States, Finance Secretary Ajay Seth on Wednesday said that he expects the direct impact of US tariffs on Indian GDP growth to be around 0.2 to 0.5 percentage points.
Shri Pankaj Chaudhary presides over Passing Out Parade
Union Minister of State for Finance Shri Pankaj Chaudhary presides over Passing Out Parade of 75th batch of 42 Indian Revenue Service (Customs & Indirect Taxes) officer trainees at NACIN, Palasamudram
As per the Finance Minister’s announcement made in the July 2024 Budget, a new tax collected at source (TCS) has been imposed on a specified list of luxury goods sold in India effective from April 22, 2025.
Can I switch to the old income tax regime while filing ITR?
My CTC is over Rs 50 lakh. For 2024–25, I opted for the new tax regime and contributed 14% of my basic to NPS. I also paid Rs 40 lakh towards my son’s education loan, with my homemaker wife as co-borrower. Can I switch to the old income tax regime while filing ITR?
EPFO eases PF transfer on job change, removes employer’s approval
Retirement fund body EPFO has simplified the process of transferring PF accounts on job change by removing the requirement of approval from an employer in the majority of the cases, an official statement said on Friday.
Soon, you can withdraw up to Rs 5 lakh from EPFO account without manual verification
In March, the CBT’s Executive Committee (EC) had approved the proposal to enhance the ASAC limit to Rs 5 lakh.
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