20 May, 2025
GST on Fusible Interlining Cloth Explained After Supreme Court Verdict In a major win for textile traders, the Supreme Court has upheld the Gujarat High Court’s decision regarding the GST on fusible interlining cloth, putting to rest the long-standing dispute on its classification and applicable tax rate. This judgment brings clarity to thousands of textile […]
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 […]
Read More20 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 […]
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