FM to Seek Parliament Nod for Extra Spending to Cover Tax Reliefs Issue: To obtain Parliamentary approval (via Supplementary Demands for Grants) for additional government funds required to offset the revenue shortfall caused by the significant tax rate cuts implemented through the recent personal income tax and Goods and Services Tax (GST) reforms. Facts:… Read More »
Income Tax Important Due Dates for November 2025 The following are the key Income Tax compliance deadlines for the month of November 2025 (primarily related to the Assessment Year 2025-26): November 7, 2025 TDS/TCS Deposit: Due date for the deposit of Tax Deducted/Collected at Source (TDS/TCS) for the month of October 2025. Note: For government… Read More »
CBIC Implements Technology-Driven GST Registration System from November 1 Issue: To combat fraudulent registrations using bogus firms and enhance the ease of doing business for legitimate taxpayers, the CBIC introduced a new technology-driven, risk-based GST registration system with streamlined timelines. Facts: The Central Board of Indirect Taxes and Customs (CBIC) notified the Central Goods… Read More »
CBIC Extends Online Application for MOOWR Scheme Issue: To ensure continuity and prevent disruption for applicants, the Central Board of Indirect Taxes and Customs (CBIC) decided to extend the operational period of the existing temporary online application facility for the MOOWR scheme, while a permanent CBIC-hosted module is finalized. Facts: The Manufacture and Other Operations… Read More »
CGST Delhi Busts ₹31.95 Crore Fake ITC Fraud, Director Arrested Issue: To curb significant revenue leakage and crack down on fraudulent activities, the CGST Anti-Evasion Branch of the Delhi South Commissionerate investigated a firm suspected of illegally availing and passing on Input Tax Credit (ITC) without any corresponding supply of goods or services. Facts: The… Read More »
CBIC Issued Guidelines Regarding Revision of Entries Post Clearance Under Section 18A of the Customs Act, 1962 Issue: To implement the newly inserted Section 18A of the Customs Act, 1962, which allows importers and exporters to voluntarily revise their customs declarations (Bills of Entry or Shipping Bills) after the goods have been cleared, the CBIC… Read More »
Supreme Court Stays GST Demand on Real Estate Joint Development Pacts Title: SC Stays GST Demand on Real Estate Joint Development Pacts (Arham Infra Developers vs. CGST and Central Excise) Issue: Whether the transfer of land development rights under a Joint Development Agreement (JDA) between a developer and a landowner should be classified as a… Read More »
GST Overhaul Planned for Faster Refunds and Easier Compliance The government is preparing a comprehensive overhaul of Goods and Services Tax (GST) processes, led by the Central Board of Indirect Taxes and Customs (CBIC). The reforms aim to improve transparency, ease compliance, and ensure quicker fund releases for businesses, particularly MSMEs. Key Procedural Reforms Underway… Read More »
GST Cut Sparks Triple-Digit Rise in Online Vehicle Searches Issue: To analyze the immediate consumer sentiment and purchasing intent across India’s automotive market following the Goods and Services Tax (GST) rate reduction on vehicles. Facts: The GST rate on automobiles (two- and four-wheelers) was recently reduced. The demand survey was conducted by the local business… Read More »
DGFT Expands Eligibility for ‘Source from India’ E-Platform Issue: To enable a wider base of accomplished Indian exporters to showcase their products and credentials to international buyers, the Directorate General of Foreign Trade (DGFT) revised the eligibility criteria for the “Source from India” service on its Trade Connect ePlatform. Facts: The “Source from India” platform… Read More »