20 May, 2025
DGFT Reclassifies Rice, Makhana, and Chemicals under ITC HS 2022 The Directorate General of Foreign Trade (DGFT) has issued a key update to Schedule-II of ITC (HS), 2022, revising classification codes for rice, makhana, and certain chemicals. This update aligns trade classifications with the Finance Act, 2025 and impacts both exporters and importers. This blog […]
Read More20 May, 2025
Google Merchant Center Brand Name Update What Indian Sellers Must Know In May 2025, Google updated its Merchant Center guidelines to recommend including brand names in product titles. This change can significantly affect how your product listings rank in Google Shopping — especially for Indian D2C brands, online retailers, and Shopify store owners. Let’s break […]
Read More20 May, 2025
Intro Paragraph:The GST registration cancellation process is not automatic or arbitrary. As per GST law and recent judicial rulings, GST registration cannot be cancelled without proper verification of the taxpayer’s evidence, documents, and responses. This protects genuine taxpayers from wrongful cancellation and ensures procedural fairness. Why Proper Verification Matters in GST Cancellation Under Section 29 […]
Read More20 May, 2025
Summary:The CBDT has extended the time limit for filing Updated Returns (ITR-U) from 36 to 48 months. This allows taxpayers to voluntarily correct past ITRs for up to 4 previous years. Learn the latest compliance rules, tax implications, and how to file safely under the amended law. Introduction ITR-U filing now allowed for 4 years […]
Read More20 May, 2025
India Limits 42% of Imports from Bangladesh What It Means for Indian Importers In a bold trade move, India has restricted 42% of imports from Bangladesh, affecting over $770 million worth of goods. This update, flagged by the Global Trade Research Initiative (GTRI), has significant implications for customs duties, GST compliance, and business strategy for […]
Read More20 May, 2025
Intro Paragraph:Fake ITC claim cases continue to plague India’s GST system. In a recent crackdown, the State Taxes Department in Udhampur exposed yet another fraudulent registration and recovered a penalty of ₹7.04 lakh. Here’s what taxpayers and consultants must know to stay compliant and alert. What Happened in the Udhampur ITC Fraud Case? The State […]
Read More20 May, 2025
India Launches Digital Platform for Trade Remedy Filings The digital platform for trade remedy submissions is now officially live — a major step by the Directorate General of Trade Remedies (DGTR) under the Ministry of Commerce. This initiative promises faster, transparent, and paperless handling of anti-dumping, safeguard, and countervailing duty cases. Here’s what Indian exporters, […]
Read More19 May, 2025
GST on Cooperative Societies ₹20 Lakh Turnover Rule Explained Cooperative societies are not automatically exempt from GST. If their annual aggregate turnover crosses ₹20 lakh (₹10 lakh for special category states), they must register and comply under GST, even if their activities appear non-commercial. Let’s break down what the law says, which services are taxable, […]
Read More19 May, 2025
How New Import Curbs on Garments Could Impact Indian Traders In a recent move to curb non-essential imports and support the domestic textile industry, India is likely to impose stricter garment import curbs, particularly targeting shipments from Bangladesh. While this may help local manufacturers, it could also raise input costs for many Indian MSMEs and […]
Read More19 May, 2025
Intro:Tamil Nadu’s own tax revenue grew by 7.6% in FY 2024-25, as per the provisional accounts released by the state government. This steady growth, amid inflation and central fund delays, signals a shift in Tamil Nadu’s fiscal strategy. Here’s what this means for businesses, taxpayers, and state finances. What’s Behind the 7.6% Growth? The state’s […]
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