21 May, 2025
Introduction:GST rationalisation for mining equipment has become a pressing issue in India’s infrastructure push. The Confederation of Indian Industry (CII), along with global consulting firm Kearney, has urged the government to streamline GST and reduce import duties for the Mining and Construction Equipment (MCE) sector. This move aims to fix structural inefficiencies, boost domestic manufacturing, […]
Read More21 May, 2025
Refurbished HDD Imports DGFT Flags ₹800 Cr Risk to Customs & Data The import of refurbished hard disk drives (HDDs) has come under serious scrutiny after a recent alert from the Directorate General of Foreign Trade (DGFT) to the Central Board of Indirect Taxes and Customs (CBIC). The warning highlights potential violations of India’s Foreign […]
Read More21 May, 2025
🇮🇳 Rapeseed Meal Export to China Why It Matters Now India is eyeing a revival of rapeseed meal export to China after years of stagnation. With global soybean prices soaring and Indian rapeseed meal now significantly cheaper, the trade gap is narrowing—offering a golden window for Indian exporters to tap the Chinese market again. What […]
Read More20 May, 2025
Summary The Supreme Court has ruled in favour of Patanjali Ayurved in a 23-year-old customs classification case involving ‘Amla Juice’. The verdict clarifies tariff interpretation under the Customs Act, 1962 and provides relief to importers and manufacturers facing similar disputes. Supreme Court Ruling A Win for Patanjali After 23-Year Customs Battle The Supreme Court has […]
Read More20 May, 2025
₹156 Cr GST Scam via Fake Firms What You Must Know In a recent bust, tax authorities uncovered a ₹156 crore GST fraud involving fake firms issuing bogus bills. These firms were generating fraudulent Input Tax Credit (ITC) without any real supply of goods or services — a growing concern under India’s GST regime. Let’s […]
Read More20 May, 2025
GST Notice Can’t Be Issued for Selling Below Market Price When a business sells goods at a lower price than market rates, can GST officers question the transaction value and issue a notice?Short answer: No — not unless fraud or suppression is proven. Let’s break down this issue and recent court rulings that support taxpayers. […]
Read More20 May, 2025
Import Policy Changes for Chapter 71 Notified by DGFT The Import Policy for Chapter 71 under ITC(HS) 2022 has been officially updated by the Directorate General of Foreign Trade (DGFT). These changes, notified under the Finance Act, 2025, aim to streamline imports of precious metals and stones with immediate effect. Chapter 71 includes natural or […]
Read More20 May, 2025
Income Tax Return 2025 Key Deadlines You Can’t Miss Income Tax Return 2025 season is here, and timely filing matters more than ever. Whether you’re a salaried individual, freelancer, or business owner, missing the due date can lead to heavy late fees, interest, and loss of deductions. Here’s your complete guide to the ITR filing […]
Read More20 May, 2025
Rule 8 of SCRR Amended Key Changes for Indian Brokers The Department of Economic Affairs (DEA), under the Ministry of Finance, has notified an important amendment to Rule 8 of the Securities Contracts (Regulation) Rules, 1957 (SCRR). This move aligns with India’s push for regulatory clarity and ease of doing business in capital markets. Let’s […]
Read More20 May, 2025
Importer’s Compliance Risk Under Section 111 of Customs Act When importing goods into India, the responsibility doesn’t end with shipping. Importer’s compliance risk extends deep into documentation, classification, and truthfulness of declarations. The Customs Act, 1962 — especially Section 111 — gives customs officers strong powers to confiscate improperly imported goods. Let’s decode what that […]
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