09 May, 2025
Export Norms for Di-Ethyl Phthalate Revised: What Indian Exporters Must Know In a key trade facilitation move, the Directorate General of Foreign Trade (DGFT) has updated the export norms for Di-Ethyl Phthalate. This revision directly affects the permissible input quantities for two key raw materials: Phthalic Anhydride and Ethanol. What Does the New DGFT Update […]
Read More09 May, 2025
SEBI Tightens Financial Disclosure Norms for InvITs In a move aimed at strengthening investor confidence and ensuring transparency, SEBI has overhauled financial reporting norms for Infrastructure Investment Trusts (InvITs). The updated disclosure requirements—announced via a regulatory circular dated May 6, 2025—introduce comprehensive and standardised reporting formats effective from April 1, 2025. These reforms are applicable […]
Read More09 May, 2025
High Court Rules: Unsigned GST Orders Are Invalid The term “Unsigned GST Orders” just got a major legal spotlight. A recent High Court decision has clarified that any GST order issued without a valid digital signature or manual signature is not legally enforceable. This judgment is crucial for businesses and tax professionals dealing with GST […]
Read More09 May, 2025
Why Are Millet Biscuits Taxed but Millet Powder Isn’t? India’s push for millets—dubbed Shree Anna—has made them a kitchen staple and a government priority. But when it comes to GST, not all millet-based products are treated equally. In this blog, we break down why GST on millet products like biscuits and powders varies, what the […]
Read More09 May, 2025
ITAT Confirms ₹54 Crore Tax Attachment in PWD Scam Case In a major development, the Income Tax Appellate Tribunal (ITAT) upheld a tax attachment of ₹54 crore in 900 accounts linked to Buldana Urban Co-operative Credit Society. The ITAT order reinforces the Income Tax Department’s power to freeze suspicious bank accounts pending investigation under Section […]
Read More09 May, 2025
₹50 Lakh Seized in Car: What Hathras Raid Reveals About Cash Compliance The recent Income Tax cash seizure in Hathras—where officers confiscated ₹50 lakh from a car and detained two individuals—has once again brought the spotlight on the legal limits of cash transactions and the risks of non-compliance. Let’s break down the law behind such […]
Read More07 May, 2025
The Wait for GSTAT Nears Its End The Goods and Services Tax Appellate Tribunal (GSTAT) is finally on track to become operational after nearly eight years of GST implementation. Meant to reduce litigation load on High Courts, GSTAT will provide faster resolution of GST disputes with subject-matter expertise. 📜 Constitutional Backing for GST Tribunals The […]
Read More07 May, 2025
SCOMET Stock & Sale: What Changed Under DGFT’s New Framework? The Directorate General of Foreign Trade (DGFT) has issued a policy update to Para 10.10 of the Handbook of Procedures (HBP) 2023, introducing a revised framework for Stock and Sale Authorisation (SSA) of SCOMET items. What Are SCOMET Items? SCOMET (Special Chemicals, Organisms, Materials, Equipment, […]
Read More07 May, 2025
Simplified Jewellery Export-Import Rules in 2025: What Indian Businesses Must Know Starting May 2025, CBIC has introduced a streamlined customs clearance system for gems, jewellery, samples, and prototypes via personal carriage. This change, announced via Public Notice No. 06/2025, aims to ease export-import formalities, especially for MSMEs and exporters traveling with high-value goods. Let’s break […]
Read More07 May, 2025
The ₹111 Cr Sales Tax Scam: What It Means for Businesses A recent sales tax evasion case involving an Andheri-based scrap dealer has brought the spotlight back on fake invoicing and GST compliance failures. The accused allegedly used shell firms and bogus purchase bills to claim massive input tax credit (ITC), resulting in a ₹111 […]
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