Latest update 28.05.2025

latest tax update otu

Latest update 28.05.2025

A. Amendment

CBDT extends date of filing of Income Tax Returns (ITRs) due for filing by 31st July 2025 to 15th September 2025

In view of the extensive changes introduced in the notified Income Tax Returns (ITRs) and considering the time required for system readiness and rollout of ITR utilities for Assessment Year (AY) 2025-26, the Central Board of Direct Taxes (CBDT) has decided to extend the due date for filing returns.

B. Article

Is GST applicable on the sale of a partly constructed building acquired through liquidation proceedings?

by CA Ritesh Arora

Karnataka HC rules that sale of partly constructed building acquired through liquidation proceedings is not a “supply” under GST.

Day 9 — “Beyond the Border, Within the Nation: SEZs, FTWZs & India’s Customs Territory”

Day-9 of 30-Day Series on the Customs Act 1962 and FTP 2023 by CA Navjot Singh.

C. Tax in media

GST’s grand invoice vision hits reconciliation wall: Taxpayers grapple with compliance overload

The new invoice management system under the GST regime, designed to eliminate unbilled transactions across the country, has been met with widespread criticism from taxpayers and industry experts alike.

Govt Restores RoDTEP Benefits for SEZs, EOUs

The government on Monday said benefits under the RoDTEP scheme for exports of goods manufactured in special economic zones and export-oriented units are restored from June 1 this year.

CBDT extends ITR filing deadline for AY 2025-26 to September 15

CBTD on Tuesday said it has extended the deadline for filing of Income Tax Returns (ITRs) to September 15, for the assessment year 2025-26. Earlier, the due date was July 31, 2025.


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