Zero Compensation Cess: Major Shift for Pan Masala & Tobacco Government Notification Issued The Central Government, through Notification No. 03/2025-Compensation Cess (Rate) dated December 31, 2025, has officially notified the reduction of the Goods and Services Tax (Compensation to States) Cess to “Nil” for specified pan masala and tobacco products. Effective Date This new “Nil”… Read More »
Government Notifies CGST (Fifth Amendment) Rules, 2025: Introduction of Retail Sale Price-Based Valuation 1. Introduction of Rule 31D for Valuation New Valuation Method: A new Rule 31D has been inserted into the CGST Rules, 2017. Basis of Valuation: For notified goods, the value of supply shall be deemed to be the Retail Sale Price (RSP)… Read More »
Tobacco GST Overhaul: Rates Rationalised from Feb 2026 New GST Rate for Biris The notification includes Biris falling under tariff headings 2403 19 21 and 2403 19 29 in Schedule II, attracting a GST rate of 9%. Major Additions to the 20% Tax Slab Several tobacco and related products have been moved to Schedule III,… Read More »
New National Security & Health Cess Act Enforced from February 2026 Official Enforcement Date The Central Government has officially notified that the provisions of the Health Security se National Security Cess Act, 2025 will come into force starting February 1, 2026. Legislative Background This enforcement follows Notification No. F. No. 25014/2/2025-DS(ST)-DOR(Pt.5) issued by the… Read More »
Extension Of Licence of IFSC GIFT City Gujrat INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 24th December, 2025 F. No. IFSCA/India ICC/Renewal/2025-26.—The International Financial Services Centres Authority, having considered the application for grant of renewal of recognition under Regulation 12 of the International Financial Service Centres Authority (Market Infrastructure Institutions) Regulations, 2021 by India… Read More »
International Financial Services Centres Authority (Global In-House Centres) Regulations, 2025 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 24th December, 2025 International Financial Services Centres Authority (Global In-House Centres) Regulations, 2025. F. No. IFSCA/GN/2025/012.— In exercise of the powers conferred by sub-section (1) of Section 28, read with sub-section (1) of Section 12 of the… Read More »
Amendment In Notification No. 19/2025- Union Territory Tax (Rate) NOTIFICATION New Delhi, the 31st December, 2025 No. 19/2025- Union Territory Tax (Rate) G.S.R. 948(E).—In exercise of the powers conferred by sub-section (1) of section 7 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) and sub-section (5) of section 15 of… Read More »
Notification u/s 35(1)(ii) of the Income Tax Act, 1961 in the case of Cancer Institute (W.I.A), Chennai MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th December, 2025 S.O. 6101(E).—In exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Income-tax Act,… Read More »
Frequently Asked Questions (FAQs) on Machine-Based levy in case of Chewing Tobacco, Jarda Scented Tobacco and Gutkha Posted On: 01 JAN 2026 11:32AM by PIB Delhi What are the effective duty rates of central excise on tobacco and tobacco products? The effective duty rates on tobacco and tobacco products have been notified vide notification No. 03/2025-Central… Read More »
Carry Forward of Demerger Losses: Section 72A(4) Applies; PCIT’s Revision Based on Amalgamation Conditions u/s 72A(2) Held Invalid ISSUE Whether the Principal Commissioner of Income Tax (PCIT) was justified in invoking revisionary jurisdiction under Section 263 by applying the conditions of Section 72A(2) (which requires the transferor entity to exist for 3+ years) to… Read More »