GST input tax credit audit checklist verifies ITC eligibility, documentation, supplier compliance, reconciliation, reversals and RCM treatment.
Verification of Input Tax Credit focuses on documentary completeness, ledger reconciliation and correctness of accounting entries; confirm purchase registers, vendor master data and supporting receipt documents; verify invoice compliance; segregate ineligible invoices; perform monthly reconciliations with GSTR-2B and GSTR-3B, track mismatches, defer ITC for missing documents, and ensure reversals, reclaims and Rule 43/Section 17 adjustments for capital goods and exempt supplies are properly accounted for. (AI Summary)

DGFT Advance Authorization requires accurate HS codes, complete documentation, and monitoring of export obligations to prevent penalties.
DGFT Advance Authorization permits duty free importation of inputs for specified export production only where applicants verify HS codes, SION/ad hoc norms, wastage and value addition requirements, and submit complete documentation (export contract, technical specs, manufacturer authorisation where applicable). Licensees must maintain bills of entry, shipping bills, invoices and e BRCs, monitor and fulfil the export obligation within prescribed timelines, prevent diversion of inputs to unauthorised uses, and remain current with DGFT notifications, FTP and HBP updates to avoid deficiencies, penalties or audit issues. (AI Summary)

Yezdi trademark: prolonged dormancy and non-renewal led to abandonment; fresh registration plus revival can re-establish ownership.
Prolonged non-use and failure to renew a trademark held in custodia legis during liquidation amounted to abandonment, as trademark rights depend on active use and affirmative maintenance; bona fide fresh registration plus genuine commercial revival can re-establish goodwill and validate ownership where the original rights have lapsed. (AI Summary)

Liquid Epoxy Resins: India imposes five-year anti-dumping duty on imports from China, Korea, Saudi Arabia, Taiwan, Thailand.
Notification No. 33/2025 Customs (ADD) imposes anti-dumping duty on Liquid Epoxy Resins (tariff items 3907 30 10 and 3907 30 90) imported from China PR, Korea RP, Saudi Arabia, Taiwan and Thailand, applying to all imports from those jurisdictions unless exempted, following an anti-dumping investigation and recommendation; the duty remains in force for five years from publication and aims to neutralize injurious dumping and restore fair competition for domestic producers. (AI Summary)

Tax liability under Section 79 arises even where services rendered but payment not received; substantiate with accounts.
Tax liability under Section 79 arises where services were rendered even if payment was not received; unilateral post facto cancellation of invoices without supporting Annual Books of Account does not extinguish the tax obligation. An incomplete reply to a return mismatch is insufficient, and the adjudicating authority must reconsider assessment upon receipt of proper evidentiary material and pass a fresh order within the short period allowed. (AI Summary)

Masala bonds offer rupee denominated foreign issuance with set maturities, cost ceilings, permitted end uses, and regulated use of proceeds.
Masala bonds are rupee denominated bonds issued abroad, subject to RBI issuance parameters including minimum original maturity (three years up to USD 50 million equivalent; five years above that) and an all in cost ceiling of 300 basis points over comparable Government of India securities. Eligible issuers include corporations, financial institutions and government backed entities. Proceeds may refinance rupee loans and NCDs, fund integrated townships and affordable housing, and provide working capital; uses such as broader real estate, prohibited FDI activities, domestic equity investments, land purchases and prohibited lending are barred. (AI Summary)

Returning exports can be duty-free if all claimed export benefits are fully reversed and proper notifications filed.
Re-imported export goods qualify for duty-free clearance under Notification 45/2017-Cus only if the exporter fully reverses all export incentives previously availed - including drawback, IGST refunds, RoDTEP/RoSCTL credits and duty concessions under EPCG, Advance Authorisation, DFIA or DEEC. Compliance requires re-import within the prescribed period (commonly three years) and pre-clearance notification to the jurisdictional customs officer and DGFT; failure on any of these conditions or omission to return even minor benefits voids the exemption. (AI Summary)

Goods and Services Tax: bail appropriate where documentary/electronic evidence predominates and no risk of tampering.
The Court held that where documentary and electronic materials constitute the principal evidence under Section 132 of the CGST Act and there is no realistic risk of tampering or absconding, custodial detention is difficult to justify; in such cases, given the offences are triable by a Magistrate and carry limited maximum sentences, non-custodial measures and conditional release are appropriate while safeguarding the investigational and public interest. (AI Summary)

SWIFT 2.0 creates a single digital touch point for NOC processing across AQCS, PQMS, and FSSAI to streamline trade.
SWIFT 2.0 consolidates NOC processing by integrating AQCS, PQMS, and FSSAI into a single digital interface, centralizing submissions, document verification, queries, approvals, and real-time status tracking to reduce manual coordination, standardize processes and data formats, and enable improved workflow automation and risk-based assessment across regulatory agencies. (AI Summary)

Custodia legis compliance checklist ensures court-controlled assets are secured, valued, managed, and sold only with judicial approval.
Custodia legis requires that assets under court control be identified, physically and digitally secured, and stakeholders notified; all transactions, enforcement, or disposals are prohibited without court/tribunal approval. The checklist mandates due diligence and registered valuations, protection of litigation-linked and IP assets, coordination with creditors under any moratorium, opening designated insolvency accounts, transparent sale processes with judicial sanction, comprehensive recordkeeping, statutory reporting, insurance and risk controls, and final distributions and dissolution only after statutory compliance and documented payouts. (AI Summary)

Young business leaders must integrate ESG into strategy, finance, and measurement to build sustainable acumen.
Young business leaders must integrate ESG into corporate strategy and value creation by learning ESG frameworks, circular economy and carbon accounting, aligning sustainability with financial strategy through green financing and valuation understanding, and gaining hands on project experience. They should apply systems thinking, monitor climate related disclosure rules and market trends, and adopt data driven governance using ESG metrics and lifecycle assessment. Ethical leadership, transparency, and long term stewardship complete the required competency set. (AI Summary)

Border enforcement uses IP recordation with Customs to suspend, examine and seize suspected counterfeit imports for destruction.
The enforcement framework relies on recordation of registered IP rights with Customs-requiring registration proof, product identification, authorised importers, supply chain details and samples-enabling officers to suspend clearance, examine and seize suspect consignments; provisional suspension is permitted on written complaint with prima facie evidence, and confirmed counterfeits are typically confiscated and destroyed with adjudication under the Customs Act. (AI Summary)

Consumers bear hidden costs from a retrospective GST amendment denying builders' input tax credit, driving up rents and prices.
Parliament's retrospective amendment to Section 17(5)(d) replacing 'or' with 'and' removes Input Tax Credit entitlement for commercial buildings, forcing developers to disgorge prior credits with interest and penalties; the blocked ITC becomes an unrecoverable capital cost, passed into higher rents and prices and thereby imposing a concealed double burden on end consumers. (AI Summary)

Pan masala and tobacco taxes: new machine/process cess plus higher central excise to preserve tax incidence.
Two Bills propose fiscal changes: the Health Security se National Security Cess Bill creates a machine/process based cess on specified goods (primarily pan masala), computed by machine speed, capacity and packed weight, with registration, returns, audit, enforcement and penalties; the Central Excise (Amendment) Bill replaces the compensation cess with a new central excise duty framework imposing higher rates on cigarettes, unmanufactured tobacco and nicotine/inhalation products. Both levies are additional to GST and will be implemented from notified dates after enactment. (AI Summary)

GST appellate portal live: taxpayers can file backlog appeals online using prescribed forms, fees and e-sign required.
GSTAT is now accepting pending GST appeals under a staggered filing regime with a final backlog deadline; filings must use the offline Excel utility, upload PDF documents within size limits, pay fees (online or offline), and be authenticated by electronic signature via DSC or Aadhaar e-sign, with instant SMS and email acknowledgement. Required documents include pre-deposit calculation, APL-04 copy if applicable, fee challan for offline payments, vakalatnama/authorization, and supporting dispute materials; users log in with GSTIN or Back Office ID and may check filing windows via ARN/CRN, with filings still permitted before the final cutoff. (AI Summary)

Geographical indications enable community-based protection of origin-linked products to boost market value and rural livelihoods.
Geographical indications in India establish a community-centred public-law right anchored in territoriality and qualitative linkage, granting exclusive use to registered proprietors and authorised producers via registration at the Chennai Registry following application, scrutiny, publication and opposition; the regime aims to protect origin-linked reputation, prevent misappropriation, conserve traditional practices through codified specifications, and promote collective organisation to enhance market value and livelihood security. (AI Summary)

Importers storing and dispatching goods from out of State warehouses must register locally and comply with GST, invoicing, and tax rules.
When imported goods are stored and dispatched from a warehouse in a State different from the importer's principal place of business, that warehouse is a place of business and supplies originating there require GST registration in that State; movements between locations need tax invoices and e-way bills, intra State supplies attract CGST and SGST, inter State supplies attract IGST, and each warehouse location under the same PAN is treated as a distinct person with separate compliance obligations. (AI Summary)

Passing off protects business goodwill from misrepresentation by competitors using similar marks, packaging or get-up.
Passing off is a common-law equitable remedy protecting commercial goodwill in unregistered indicia-such as marks, trade dress, packaging and get-up-against misrepresentation that is likely to cause consumer confusion. Liability requires proof of goodwill, defendant misrepresentation leading to association, and likely damage to reputation; priority of prior use prevails over registration, misrepresentation need not be intentional, and protection may extend to dilution or tarnishment. Remedies include injunctions, damages or account of profits, delivery-up or destruction of infringing goods, and disclosure of sales records. (AI Summary)

Data protection and intellectual property: privacy rights override proprietary claims when personal data is involved.
Indian law treats personal data as an extension of individual autonomy, so statutory privacy rights under the Digital Personal Data Protection Act, 2023 (consent, purpose limitation, erasure) limit proprietary claims. Copyright protects selection or arrangement of datasets where skill and judgment exist; trade secrets protect confidential compilations where confidentiality is maintained. AI training on personal or copyrighted data raises consent and infringement concerns. Competition law and sectoral regulations add further constraints, requiring accountability and balanced harmonisation between privacy and proprietary interests. (AI Summary)

Copyright payments must move to fully digital, traceable online systems and enable enforcement.
Rule 83(A) requires copyright owners licensing works for communication to the public to create and use an online payment mechanism for royalties on literary works, musical works, and sound recordings when broadcast, streamed, or publicly performed. The Rules mandate that payments be digitally traceable-recording payer, amount, and timing-provide a six month transition for existing agreements, and authorize the Copyright Office to levy penalties up to fifty thousand rupees for non compliance. (AI Summary)