Latest update 26.07.2025 – OnlineTaxUpdate

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GST – update

Seminar: Cochin Chapter of ICMAI conducts ‘GST Symposium 2025’ on 25.07.25 at 8:30am

GST Article

Who is the proper officer in proceedings wherein the only question is levy of penalty under Section 122 and 125 of CGST Act, 2017

On a bare reading Section 122 and 125, it is obvious that unlike Section 123 and 129, there is no mention of proper officer to levy penalty and these sections only mention penalty amount for the offences.

Can Anti-Evasion unit of CGST/SGST assume jurisdiction and use Section 71 for having access to premises instead of Section 67(1)

Although the statute has been worded in a ambiguous manner, but on the basis of bare reading of the above provisions, it can be observed that Section 67 puts onerous condition rather than Section 71 for being exercised. Following are the conditions-

A trap for the taxpayers in GST wherein apparently five provisions are simultaneously applicable for levy of penalty/recovery..

Title: A trap for the taxpayers in GST wherein apparently five provisions are simultaneously applicable for levy of penalty/recovery for delayed payment of tax and even for a slightest of delays, and thereby due to this lack of clarity taxpayers are falling in the trap without any saviour forthcoming.

GST in Media

‘Old tax arrears won’t be taken if…’: Siddaramaiah on UPI-linked GST notices to small traders

Karnataka Chief Minister Siddaramaiah on Wednesday, July 23, clarified the Goods and Services Tax (GST) notices to small and micro traders, saying the state government would not pursue tax notices issued to traders for arrears on exempted goods and services over the past three years.

Crypto gains in FY25? Which ITR form to use while filing returns in AY 2025-26

Since there are 7 ITR forms available for tax return filing, the biggest confusion for most assessses is which form they should choose. Adding to their confusion, the government last year tweaked the capital gains rules, which required certain changes to be made in ITR forms. In this write-up, let’s understand which ITR form you need to file if you have capital gains from various financial assets, including cryptocurrencies.

GST appellate benches still not functional at 45 locations, Centre tells Lok Sabha

More than seven years after the rollout of the Goods and Services Tax (GST), the appellate mechanism meant to handle GST-related disputes remains non-functional.

Gameskraft GST at Supreme Court: Total 93 cases in 5 categories

The Supreme Court today (day 18) continued final hearings in the Gameskraft batch of GST cases, with proceedings focused on the classification and scope of matters under challenge. The matter is being heard by the bench of Justices J.B. Pardiwala and R. Mahadevan.

SC continues final hearing in Gameskraft GST case (Day 16): Singhvi, Nankani slam arbitrary tax on casinos

The Supreme Court today (day 16) continued final hearings in the Gameskraft batch of cases challenging the levy of 28% GST on online gaming, casinos, and horse racing, with the matter listed before the division bench of Justices J.B. Pardiwala and R. Mahadevan.

CM Siddaramaiah to meet with trade bodies, officials to resolve GST mess

Chief Minister Siddaramaiah will meet with trade bodies along with finance department secretaries and commercial tax officers to allay the fears of small traders and street vendors on complying with GST norms on Wednesday.

Women’s economic role rising: 1 in 5 GST taxpayers has female member, says SBI

The Report suggests that the number of female taxpayers is on rise in the country, as of now one fifth of the GST registered taxpayers in the country have at least one female taxpayer and 14 per cent of the registered tax payers have all female members.

Govt relaxes rules to boost GST registration among small businesses

The number of MSMEs with GST registration is set to rise after the CBIC asked its officials to relax scrutiny for such businesses, according to two people aware of the development. MSMEs contribute around 30% of India’s GDP.

No GST loss to Goa from out-of-state corporate billing: CM Sawant

Chief Minister Pramod Sawant has said Goa has not incurred any loss in the Goods and Services Tax (GST) revenue due to companies routing their sales and billing through corporate offices located outside the state.

Commerce ministry weighs GST rationalization for motion-lit toys

The matter concerns a category called non-motorized ‘mobility scooters’ – the kind children zip round on, whether sitting or standing. Those fitted with lights are taxed at 18%, whereas those without lights attract only a 12% Goods and Services Tax (GST).

Simplify GST: It’s time for a single all-India identification mandate

GST, which recently completed eight years in India, was originally envisioned as a “good and simple tax.” However, over time, it has become increasingly complex. While a national GST would have been an ideal value added tax (VAT) system, the imperatives of a federal structure led to a compromise, resulting in a dual GST system comprising Central GST (CGST), State GST (SGST) and Integrated GST (IGST).

What are credit card late fees, over-limit charges, and GST — and how can you avoid them?

Credit cards are easy and convenient to use, but they have tax and other hidden fees. You can make better decisions and avoid wasteful spending by understanding late payment fees, GST, and over-limit charges.

Karnataka launches ‘Know GST’ drive to calm UPI-linked tax panic among traders: Report

With anxiety spreading among small and unregistered traders over tax notices linked to UPI payments, the Karnataka government has launched a statewide awareness initiative titled ‘Know GST’.

GST notices based on UPI transactions: Karnataka traders on warpath; official tells action as per law

Amid rising concerns among traders in Karnataka over the issuance of nearly 6,000 GST demand notices based on UPI transaction data, a top tax official has termed the action as within the framework of law. Traders’ bodies have gave a strike call over the matter.

Customs update

Circular No. 19/2025- Customs dated 23.07.2025

CBIC issued Circular no. 19/2025-Customs dated 23.07.2025 regarding Continuation of online application facility under MOOWR Scheme- hosted on Invest India Portal

Circular No. 20/2025- Customs dated 24.07.2025

CBIC issued Circular no. 20/2025-Customs dated 24.07.2025 regarding Correlation of Technical Characteristics, Quality and Specification of the Inputs with the Export Product under the DFIA Scheme

Day 24 | Manufacture and Other Operationsin Warehouse Regulations, 2019 (MOOWR)— An Expanded Handbook

Day 24 – Detailed insight on MOOWR by CA Navjot Singh

DGFT

DGFT – Policy Circular No. 2/2025-26 dated 22.07.2025

DGFT issued Policy Circular no. 2/2025-26 dated 22.07.2025 giving Clarification regarding applicability of Para 2.12 of the Foreign Trade Policy, 2023

Income tax update

Common Offline Utility (ITR 1, ITR-2 & ITR 4) updated on 22.07.25

Common Offline Utility for filing Income-tax Returns ITR 1, ITR 2 and ITR 4 for the AY 2025-26 is updated on 22.07.2025

Income Tax Return Form (offline utility) of ITR-2 is enabled

Offline Utility for ITR-2 for AY 2025-26 is available for filing. Click here to download.

Notification no. 120/2025 dated 22.07.2025- Income tax

CBDT issued notification no. 120/2025 dated 22.07.2025 to provide exemption u/s 10(46A)(b) of the Income tax Act, 1961 to the “Greater Ludhiana Area Development Authority” an authority constituted under the Punjab Regional and Town Planning and Development Act, 1995 (Punjab Act No. 11 of 1995).

Notification no. 121/2025 dated 22.07.2025- Income tax

CBDT issued notification no. 121/2025 dated 22.07.2025 to provide exemption u/s 10(46A)(b) of the Income tax Act, 1961 to “Moradabad Development Authority” an authority constituted under the Uttar Pradesh Urban Planning & Development Act, 1973 (President’s Act No. 11 of 1973), for the purposes of the said clause.

Notification no. 122/2025 dated 22.07.2025- Income tax

CBDT issued notification no. 122/2025 dated 22.07.2025 to provide exemption u/s 10(46) of the Income tax Act, 1961 to “Andhra Pradesh Building and Other Construction Workers Welfare Board”, a Board constituted by Government of Andhra Pradesh, in respect of the following specified income arising to the said Board, as follows:

Notification no. 123/2025 dated 22.07.2025- Income tax

CBDT issued notification no. 123/2025 dated 22.07.2025 to provide exemption u/s 10(46) of the Income tax Act, 1961 to ‘Puducherry Building and Other Construction Workers Welfare Board’, a Board constituted by Government of Union Territory of Puducherry, in respect of the following specified income arising to that Board, namely:-

Notification no. 124/2025 dated 24.07.2025- Income tax

CBDT issued notification no. 124/2025 dated 24.07.2025 to provide deductions u/s 35(1)(ii) of the Income tax Act, 1961 to Gitarthganga Ahmedabad for ‘Social Science or Statistical Research’ under the category of ‘Other Institution’ for the purposes of section 35(1)(iii) of the Income tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962.

Notification no. 125/2025 dated 24.07.2025- Income tax

CBDT issued notification no. 125/2025 dated 24.07.2025 to provide deductions u/s 35(1)(ii) of the Income tax Act, 1961 to ‘IQRAA International Hospital And Research Centre’, under the aegis of ‘J D T Islam Orphanage Committee’, Kozhikode, Kerala for ‘Scientific Research’ under the category of ‘Other Institution’ for the purposes of section 35(1)(ii) of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962.

Income tax Media

Taxpayer wins Rs 1.4 lakh penalty case despite claiming false income tax deductions to reduce income by 50%; Know the details

The Income Tax Department imposed a penalty equivalent to 17% of Mr Shinde’s salary after it was proved that he had claimed false income tax deductions to under-report his income by about 50% to lower his net income tax liability. The penalty imposed by the income tax department amounted to Rs 1.4 lakh. Shinde’s actual salary was Rs 8 lakh a year, which he reported as only Rs 4 lakh.

Income Tax Bill 2025: Income from house property taxation related two key amendments suggested by select committee, know the impact

The Lok Sabha Select Committee has recommended two key amendments regarding tax deductions on income from house property. One of the key amendments proposed by the Committee is to allow a standard deduction of 30% from the gross annual value (GAV) of a house property after deducting municipal taxes. The second significant amendment they recommended is to allow a deduction of home loan interest when calculating income from rented (let-out) house properties.

Planning to redeem MFs? AY 2025-26 tax rules may hit your returns

A slew of tax changes, effective from 23.07.2024, has altered how your mutual fund gains will be taxed in Assessment Year (AY) 2025-26.

Taxable income below Rs 7 lakh: Will you pay zero income tax if this income includes LTCG and STCG for FY 2024-25?

The income tax laws applicable for FY 2024-25 allow zero tax payable under the new tax regime if your net taxable income is under Rs 7 lakh.

ED files FEMA complaint against Myntra for ₹1,654 crore FDI violation

India’s financial crime agency has filed a complaint against Myntra Designs Pvt Ltd and its affiliated firms for alleged violations of foreign exchange rules involving ₹1,654.35 crore, according to a statement on Tuesday.

AN-Aadhaar linking update: Relief from tax demand notice due to short TDS deduction for these taxpayers

The Income Tax Department has given relief to those income tax payers who got an income tax demand notice due to short deduction of TDS and short collection of TCS from those deductors and collectors, who have an in-operative PAN. An PAN will be termed in-operative, if it is not linked with Aadhaar.

Got a tax notice for submitting less TDS? CBDT relief may offer respite

The Central Board of Direct Taxes (CBDT) has provided some relief to taxpayers and businesses who have been served tax demand notices for deducting tax at source (TDS) or collecting tax at source (TCS) at normal rates from payees whose Permanent Account Numbers (PANs) had become inoperative for want of Aadhaar linkage.

ITR filing 2025: Are you a social media influencer? Here’s how to file your income tax returns right

The income tax return (ITR) utilities for financial year 2024-25 (assessment year 2025-26) have introduced a specific code—16021—for ‘influencers’ who draw income from their social media activities, including promoting products and services on such platforms.

Income Tax Appellate Tribunal dismisses Congress appeal against Rs 199 crore tax assessment

Denying relief to the Indian National Congress, the Income Tax Appellate Tribunal (ITAT) on Monday dismissed an appeal by the party against a tax demand of ₹199.15 crore for the year 2018-19.

Income Tax Dept analysing taxpayers’ ITR-filing patterns, online behaviour, says CBDT chief

The Income Tax Department has stepped up its monitoring and compliance efforts by harnessing the power of artificial intelligence (AI) to track online taxpayer behaviour and identify inconsistencies in returns, reports Indian Express. According to Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal, the department is analysing online activity, financial transactions, and return-filing patterns to nudge taxpayers towards better compliance.

Court Sentences Fake Lawyer to Three Years for Practising Law Illegally for 18 Years

A district court in Bhopal has sentenced a man to three years in jail for impersonating a lawyer and practising law for 18 years using forged documents. The convict, Ravindra Kumar Gupta, was also fined ₹4,000 by the court.

Confused about Aadhaar for rent agreements? Here’s what the law says

Many tenants and landlords are puzzled over the requirement of Aadhaar in rent agreements. While some say they were asked for it during registration, others insist they completed the process using other ID proofs. This confusion reflects the gap between legal provisions and on-ground practices in different states.

Corporate tax revenue foregone at ₹99,000 crore in FY24: MoS Finance

The government is estimated to have forgone around ₹99,000 crore in revenue in the 2023-24 fiscal on account of tax incentives extended to corporates, Minister of State for Finance Pankaj Chaudhary said on Tuesday (July 22, 2025).

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