15 May, 2025
What Is the Tonnage Tax Exit Rule? Tonnage tax scheme (TTS) is a concessional tax regime for Indian shipping companies. But what happens when a company wants to exit this scheme? The Income Tax Bill, 2025, via Clause 231(8)–(9), proposes a streamlined exit process, replacing Section 115VQ of the existing Income-tax Act, 1961. Let’s break […]
Read More15 May, 2025
Zero Coupon Bonds by IRFC What CBDT Just Notified The Central Board of Direct Taxes (CBDT) has officially notified the issuance of Zero Coupon Bonds by Indian Railway Finance Corporation Ltd (IRFC)—a major move under Section 10(15)(iv)(h) of the Income Tax Act, 1961. This notification, issued via Notification No. 43/2025 dated 14.05.2025, opens up new […]
Read More15 May, 2025
IntroductionThe anti-dumping duty on titanium dioxide imported from China has been re-imposed by CBIC to safeguard Indian manufacturers from unfair pricing. This move, aligned with DGTR recommendations, is aimed at ensuring level playing field in the domestic market. Why Was the Duty Imposed? As per CBIC Notification No. 23/2025-Customs (ADD) dated 14.05.2025, the anti-dumping duty […]
Read More15 May, 2025
Revised Customs Arrest Report Format CBIC’s Latest Update The revised customs arrest report format issued by CBIC is a crucial compliance shift under Customs law. Vide Instruction No. 06/2024-Customs dated 08.05.2025, the CBIC has introduced new formats for Arrest and Incident Reports to improve documentation, transparency, and legal scrutiny under the Customs Act, 1962. Let’s […]
Read More15 May, 2025
Foreign Donation Disclosure Rules CBDT Tightens Compliance India’s Income Tax Department has called for greater transparency in foreign donations received by charitable institutions. In a fresh push for accountability, the CBDT mandates detailed disclosures under Form 10BD for each donor, including foreign contributors. Let’s break down what’s changing and how it affects trusts, NGOs, and […]
Read More15 May, 2025
GST on Fraudulent Order What Gujarat AAR Ruled & Why It Matters A recent ruling by the Gujarat Authority for Advance Rulings (AAR) has stirred concern among Indian businesses: even if a supplier is cheated by a fake buyer, GST liability remains. Let’s break down what happened, what the law says, and how to safeguard […]
Read More15 May, 2025
Can a Supplier Be Liable for GST on a Fraudulent Transaction? Yes — according to a recent ruling by the Gujarat Authority for Advance Ruling (AAR), even if a supplier is defrauded by a fake buyer, they remain liable to pay GST. This ruling has stirred concern among honest taxpayers, especially small and mid-sized suppliers […]
Read More15 May, 2025
What is GST Adjudication and Why Timeliness Matters Adjudication under GST refers to the process where tax officers decide disputes—such as show cause notices, demand orders, and penalties. But here’s the problem: delays in adjudication can freeze businesses and create financial uncertainty. As per the CBIC and various High Courts, authorities must conclude adjudication with […]
Read More15 May, 2025
Why Arecanut Sector Wants GST Reduction for Copper Sulphate Arecanut farmers and traders are demanding GST relief on copper sulphate, citing its essential use in agriculture and crop protection. This demand has grown louder as GST authorities classify it under higher tax slabs meant for industrial chemicals — raising both costs and compliance confusion in […]
Read More14 May, 2025
Capital gains exemption under Section 54F has long been debated—especially when the reinvested property has multiple floors. A recent Delhi High Court ruling has now cleared the air: different floors of a single residential house do not disqualify a taxpayer from claiming the full exemption. Delhi HC clarifies that multiple floors of a single house […]
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