03 Jul, 2025
Introduction:The government has appointed three new technical members to GST Appellate Tribunal (GSTAT) benches in Uttar Pradesh, marking a crucial step towards operationalising the Tribunal. With GSTAT cases piling up for years, this appointment is expected to fast-track pending appeals, especially for taxpayers in Noida, Lucknow, and Prayagraj. What Is the GST Appellate Tribunal (GSTAT)? […]
Read More03 Jul, 2025
RBI’s Unique Borrower ID Plan: What It Means for Indian Borrowers The Reserve Bank of India (RBI) is planning to introduce a Unique Borrower ID for every individual and entity. The goal? Clean up duplicate credit records, improve loan eligibility, and make the lending system more reliable and borrower-friendly. This comes at a time when […]
Read More03 Jul, 2025
Port Restrictions on Imports from Bangladesh: CBIC Clarification India has updated the port restrictions on import of certain goods from Bangladesh as per the Import Policy under ITC (HS), 2022 Schedule 1. These changes aim to streamline import entry points and improve customs control. Here’s a simplified breakdown of CBIC’s latest instructions and what importers […]
Read More03 Jul, 2025
TAXASSIST Campaign: A New Helpdesk for ITR Filing and Notices The Income Tax Department has launched a new initiative called the TAXASSIST campaign to help individual taxpayers file their ITRs and comply with any pending notices under the Income-tax Act, 1961. The campaign, active during the 2025 ITR season, aims to reduce non-compliance and ease […]
Read More03 Jul, 2025
Minimum Import Price on Soda Ash Extended Till Dec 2025: What You Must Know The minimum import price on soda ash has been extended till 31st December 2025 by the Directorate General of Foreign Trade (DGFT). This move directly affects Indian importers, downstream industries, and traders involved in the soda ash supply chain. Let’s simplify […]
Read More03 Jul, 2025
GST Pre-Deposit Refund with Interest Key Ruling Explained In a recent case, the GST Appellate Authority ordered the refund of ₹3.96 lakh—originally paid as pre-deposit—along with interest at 6% per annum. This development clarifies the legal position on GST pre-deposit refund with interest, especially when the department loses the case. Here’s a simplified breakdown. What […]
Read More03 Jul, 2025
DGFT’s EPCG Classification Is Binding on Customs SC Ruling Explained The goods classification under EPCG by DGFT is now legally binding on Customs, as held by the Supreme Court. This landmark judgment brings clarity for exporters and importers availing the Export Promotion Capital Goods (EPCG) Scheme under the Foreign Trade Policy (FTP). Here’s what it […]
Read More03 Jul, 2025
CESTAT Directs to Decide Service Tax Appeal if Pre-deposit Was Complied Focus keyphrase: Service tax appeal If you’re filing a service tax appeal before the CESTAT, non-compliance with pre-deposit norms can be fatal. But what happens when the pre-deposit was actually made, and delay occurred only in procedural steps? A recent CESTAT ruling offers important […]
Read More03 Jul, 2025
GST Collection in June 2025 Hits ₹1.85 Lakh Crore: Detailed Insight GST collection in June 2025 has once again crossed ₹1.85 lakh crore, registering a healthy 6.2% year-on-year growth compared to June 2024. This steady uptick highlights India’s resilient consumption and strong compliance ecosystem, driven by digital enforcement and policy tweaks. Let’s break down what […]
Read More03 Jul, 2025
Bombay HC Quashes Recovery Without Hearing: What It Means for You Focus Keyphrase: Bombay HC recovery notice The Bombay High Court has once again underscored a critical principle: no recovery without hearing. In a recent judgment, the court quashed a tax recovery notice issued to a bank, stating that such notice must be served on […]
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