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    TMI Tax Updates e-Newsletter
    Mar 06,2025

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    38 Highlights / Catch Notes Toggle
    10 Articles Toggle
    By: Ishita Ramani
    Summary : Online brand registration in India is crucial for protecting a company's logo and preventing unauthorized use. It provides legal protection, exclusive rights, and enhances business credibility under the Trademarks Act of 1999. The process involves conducting a trademark search, selecting the correct class, preparing necessary documents, and filing an online application through the IP India website. The application undergoes examination, and if approved, the brand is published in the Trademark Journal for public objection. If unchallenged, a registration certificate is issued, granting exclusive rights for ten years, renewable indefinitely. This process secures brand identity and offers long-term benefits.
    By: Bimal jain
    Summary : As the fiscal year 2024-25 ends, businesses must undertake several GST compliance activities to ensure a smooth transition into the new financial year. Key tasks include submitting a Letter of Undertaking for zero-rated supplies, complying with export conditions under Rule 96A, opting for the Composition Scheme, selecting the QRMP Scheme, and implementing a new invoice series. Businesses should reassess their turnover for compliance requirements, check the applicability of e-invoices and e-way bills, reconcile outward supplies and input tax credits, and settle reverse charge mechanism liabilities. Additionally, they should obtain declarations from goods transport agencies and consider the GST Amnesty Scheme for clearing outstanding dues.
    By: DR.MARIAPPAN GOVINDARAJAN
    Summary : Section 124 of the Customs Act, 1962 mandates a written show cause notice before confiscating goods, allowing for oral notices only upon the concerned party's request. The Delhi High Court, in several cases, emphasized the necessity of issuing a show cause notice within six months of seizure to avoid mandatory release of goods. In a particular case, the petitioner argued that no written notice or hearing was provided, violating natural justice principles. The court ruled that printed waivers of notice and hearings are insufficient, setting aside the order and directing the return of seized goods. This underscores the requirement for informed and conscious waivers.
    By: YAGAY andSUN
    Summary : The Government of India aims to transform farmers into exporters to double their income through various initiatives. These include establishing export training centers and workshops, improving cold chain and agro-processing infrastructure, and providing financial support like subsidized loans and incentives. The government plans to strengthen Farmer Producer Organizations and digital platforms for direct market access, promote organic and high-quality produce, negotiate favorable trade agreements, and enhance supply chain logistics. Simplifying export processes, supporting research and development, and launching marketing campaigns for 'Made in India' products are also key strategies. A coordinated effort among government bodies and private sectors is crucial for success.
    By: YAGAY andSUN
    Summary : India has launched various digital initiatives to enhance its export trade by improving efficiency, transparency, and ease of doing business. Key initiatives include the Digital India Programme, which streamlines export processes; E-Export Facilitation for market access; and DGFT's online platform for documentation. eSanchit and ICEGATE simplify customs procedures, while TReDS aids MSMEs with liquidity. Digital payments, B2B e-commerce platforms, and AI for market insights further support exporters. Special Economic Zones leverage digital tools for trade facilitation, and social media is used for global marketing. These efforts aim to boost India's competitiveness in the global market.
    By: Dr. Sanjiv Agarwal
    Summary : The article discusses the concept and requirements of the E-way Bill under the Goods and Services Tax (GST) law. An E-way Bill is a mandatory document for the transportation of goods valued over INR 50,000, serving as proof of the transaction's authenticity. It must be generated on the GST portal before goods movement and is required for various reasons, including supply and inward supply from unregistered persons. Exceptions exist for short-distance transport within cities. The article also outlines the roles of registered and unregistered persons, the cancellation process, and the use of RFID for verification. Physical verification by tax officials requires specific approval unless evasion is suspected.
    By: YAGAY andSUN
    Summary : Setting up and managing an export business requires careful planning and strategic execution. Key steps include conducting thorough market research to identify target markets and understand local regulations, choosing suitable products for export, and legally registering the business with necessary codes and tax registrations. Developing an export strategy involves setting competitive pricing, selecting sales channels, and establishing payment terms. Building relationships with foreign buyers is crucial, as is ensuring compliance with international packaging and labeling standards. Efficient logistics, including partnerships with freight forwarders and understanding customs procedures, are essential. Ongoing management focuses on order tracking, payment monitoring, customer service, and risk management.
    By: YAGAY andSUN
    Summary : The importation of Genetically Modified Organisms (GMOs), Living Modified Organisms (LMOs), and GM food and feed into India is governed by a comprehensive regulatory framework aimed at protecting human health, biodiversity, and the environment. The Environmental Protection Act, 1986, and associated rules establish guidelines for safe handling and importation. The Genetic Engineering Appraisal Committee (GEAC) evaluates and approves imports based on scientific risk assessments, while the Food Safety and Standards Authority of India (FSSAI) ensures food safety. Importers must obtain necessary permissions and No Objection Certificates from relevant authorities, ensuring rigorous scrutiny and compliance with safety standards before entry into India.
    By: YAGAY andSUN
    Summary : The Destructive Insects and Pests Act, 1914, PFS Order, 1989, and Plant Quarantine (Regulation of Import into India) Order, 2003 collectively form the legal framework for regulating the importation of plants and plant products into India. These regulations aim to protect India's agriculture from foreign pests and diseases through inspection, quarantine, and risk analysis. The 2003 Order aligns with international standards set by the WTO and IPPC, expanding coverage to include various plant products and emphasizing control over invasive species. These measures ensure agricultural safety while facilitating international trade, adapting to evolving threats like climate change and biotechnology.
    By: YAGAY andSUN
    Summary : Boiler accidents in India have been a significant concern due to inadequate safety measures, poor maintenance, and lack of operator training, especially during the early stages of industrialization. Boilers are crucial in various industries, but their failure can lead to severe accidents. Key legislation includes the Indian Boilers Act, 1923, and the Factories Act, 1948, which mandate safety norms and regular inspections. Common causes of accidents include poor maintenance, operator error, design defects, and improper water treatment. Despite improvements and stricter regulations, ongoing efforts are needed to enhance safety, enforce compliance, and adopt technological advancements to reduce accidents further.
    15 News Toggle
    Summary : India is seeking a resolution to the challenge posed by US President Trump's reciprocal tariff policy, which targets countries like India for high tariffs on American goods. Trump announced new tariffs effective April 2, citing unfair practices by countries including India. In response, India is negotiating a comprehensive trade deal with the US, aiming for $500 billion in annual trade by 2030. Recent talks between Indian and US leaders emphasize reducing tariffs and increasing market access. India has already lowered tariffs on certain American products, signaling its willingness to cooperate and potentially avoid new US tariffs.
    Summary : India's engineering goods exports to the US increased by 18% year-on-year in January 2025, reaching USD 1.62 billion, despite overall engineering shipments growing at 7.44%. This growth coincides with the US President's announcement of reciprocal tariffs on countries imposing levies on American goods, effective April 2. During the April-January period, exports to the US rose nearly 9% to USD 15.60 billion. Exports to the UAE also grew significantly. However, global trade protectionism poses challenges, with over 3,000 trade restrictions implemented in 2024. The engineering sector's growth was driven by various products, though some areas like ships and iron and steel saw declines.
    Summary : The BSE Sensex surged by 740 points, closing at 73,730.23, while the Nifty ended a 10-day losing streak, rising by 254.65 points to 22,337.30. This recovery was driven by value buying in utilities and power shares and a positive global market trend. Strong global cues, potential tariff reversals by the US, and improved domestic service sector activity bolstered market sentiment. Key gainers included Adani Ports and Tata Steel, while Bajaj Finance and HDFC Bank lagged. Despite the US imposing tariffs, emerging markets, including India, saw a relief rally. However, long-term trade conflict impacts remain uncertain.
    Summary : US President Donald Trump criticized India's high tariffs, announcing reciprocal tariffs starting April 2. He also mentioned receiving peace signals from Russia, with Ukraine ready to negotiate. A terrorist responsible for the 2021 Kabul airport attack is being extradited to the US. Bangladesh's request to India for Sheikh Hasina's extradition remains unanswered. China increased its defense budget to USD 249 billion and set a 5% GDP growth target amid trade tensions with the US. An Indian-origin nurse in Florida was attacked, risking her eyesight. Pakistan's Prime Minister thanked Trump for recognizing its counter-terrorism efforts.
    Summary : An FIR was filed against the Ansal Group in Ghaziabad, Uttar Pradesh, for charges including cheating and forgery. The complaint, initiated by a Ghaziabad Development Authority official, accuses the group of violating township policies and selling land using fake documents. This action follows orders from the Chief Minister to address homebuyer complaints against the group. A similar FIR was lodged in Lucknow against the group for alleged cheating and organized crime. Additionally, the National Company Law Tribunal has admitted Ansal Properties into the Corporate Insolvency Resolution Process due to a loan default of Rs 257 crore with IL&FS Financial Services.
    Summary : The Competition Commission of India has approved TPG Scion SG Pte. Ltd.'s acquisition of certain shares in Schott Poonawalla Private Limited (SPPL) from Serum Institute of India Private Limited. TPG Scion, a special purpose investment vehicle incorporated in Singapore in October 2024, is affiliated with the global investment firm TPG Group. SPPL specializes in the development and manufacturing of glass containers for pharmaceutical packaging. The detailed order from the Commission regarding this acquisition will be issued subsequently.
    Summary : The Competition Commission of India has approved the acquisition of equity shares in PSP Projects Limited by Adani Infra (India) Limited. This transaction includes Adani Infra acquiring shares from a key seller and public shareholders through an open offer, resulting in equal shareholding between Adani Infra and the current promoters. Adani Infra specializes in infrastructure development, offering project management and construction services in the power sector. PSP Projects provides engineering, procurement, and construction services across various sectors, including industrial and residential projects, offering a range of services from planning to post-construction activities.
    Summary : The Competition Commission of India has approved Ambuja Cements Limited's acquisition of up to 72.8% of Orient Cement Limited. Ambuja Cements, which operates numerous cement plants and terminals across India, will acquire 46.8% of Orient Cement's shares, including 37.9% from the current promoters and 8.9% from public shareholders. This acquisition triggers an obligation for Ambuja to make an open offer for an additional 26% of Orient Cement's share capital, potentially increasing its total shareholding to 72.8%. Orient Cement operates three manufacturing facilities and distributes its products across 10 Indian states.
    Summary : The Competition Commission of India has approved the acquisition of 100% equity share capital of Raj Petro Specialities Private Limited by Shell Deutschland GmbH and Shell Overseas Investments B.V. Shell Plc, the ultimate parent company of the Shell Group, is involved in energy and petrochemical sectors globally, including oil and gas exploration and production, as well as renewable energy. Raj Petro Specialities manufactures high-performance petro-speciality products. The detailed order from the Commission regarding this acquisition will be released subsequently.
    Summary : The Competition Commission of India has approved Alpha Wave Ventures II, LP's acquisition of a 12.44% stake in Advanta Enterprises Limited. Alpha Wave Ventures II, managed by Alpha Wave Ventures GP, is a global private equity fund focused on investing in growth-stage companies. Advanta Enterprises is involved in the breeding, production, research, development, commercialization, sale, purchase, export, and import of seeds and seed varieties. A detailed order from the Commission will be issued subsequently.
    Summary : The Competition Commission of India has approved the acquisition of the pharma solution segment and certain product lines of the Nourish segment from International Flavors & Fragrances Inc. by Roquette Fr`eres S.A. This transaction involves Roquette purchasing equity interests in IFF entities housing these businesses. Roquette, a French company, specializes in plant-based ingredients and operates in India through subsidiaries like Crest Cellulose Pvt. Ltd. The targeted IFF business segments include pharmaceutical excipients and food-related products. The deal marks a significant expansion of Roquette's presence in the Indian market. A detailed order from the Commission is forthcoming.
    Summary : The Competition Commission of India has approved JSW Energy Limited's acquisition of 100% shareholding in KSK Mahanadi Power Company Limited. JSW Energy, a public company with a diverse presence in the power sector, will execute this acquisition through its subsidiary, JSW Thermal Energy One Limited. KSK Mahanadi, established in 2009, operates a thermal power plant in Chhattisgarh and is currently undergoing a Corporate Insolvency Resolution Process. This transaction, facilitated by JSW Thermal, involves the complete takeover of KSK Mahanadi, which is under insolvency proceedings as per the Insolvency and Bankruptcy Code, 2016.
    Summary : The Government of India has appointed an Additional Secretary from the Department of Commerce as the CEO of the Government e Marketplace (GeM) effective March 3, 2025. This appointment coincides with GeM's transition to a next-generation digital marketplace managed by Tata Consultancy Services (TCS). The platform has achieved a Gross Merchandise Value of 4.58 lakh crore, marking a 28.65% annual growth. The new CEO, an IAS officer from the 1999 batch, brings over 20 years of experience in policy and infrastructure, having previously served in roles such as Deputy Election Commissioner and Joint Secretary to a former President of India.
    Summary : The Department of Financial Services hosted a post-budget webinar focusing on regulatory, investment, and ease of doing business reforms. The Finance Minister highlighted the government's commitment to implementing budget announcements for 2025-26, including decriminalizing over 100 legal provisions to simplify business processes. Key initiatives include increasing MUDRA loan limits, expanding MSME credit models, and launching the PM Internship scheme. The government aims to enhance India's export potential and attract investments by reducing regulatory burdens. Discussions also covered FDI in the insurance sector, financial service access, and simplifying legal compliances, with inputs from various stakeholders to ensure effective policy implementation.
    Summary : The Directorate of Revenue Intelligence (DRI) intercepted a passenger at Kempegowda International Airport, Bengaluru, carrying 14.2 kg of foreign-origin gold bars worth Rs. 12.56 crore. The passenger, a 33-year-old woman arriving from Dubai, had concealed the gold on her person. A subsequent search of her residence on Lavelle Road led to the seizure of additional gold jewelry worth Rs. 2.06 crore and Indian currency amounting to Rs. 2.67 crore. The total seizure, valued at Rs. 17.29 crore, represents a significant disruption to organized gold smuggling networks. The woman has been arrested and remanded to judicial custody.
    10 Notifications Toggle

    DGFT

    1.
    60/2024 - dated - 5-3-2025 - FTP
    Amendment in Import Policy and Policy Condition of Platinum covered under HS Code 7110 of Chapter 71 of ITC (HS) 2022, Schedule -I (Import Policy)
    Summary : The Government of India has amended the import policy for platinum under HS Code 7110, Chapter 71 of ITC (HS) 2022, Schedule-I. The import policy for platinum in unwrought, powder, or other forms (codes 71101110, 71101120, and 71101900) has changed from "Free" to "Restricted," except for platinum alloy with 99% or more purity, which remains free. This amendment is enacted under the Foreign Trade (Development & Regulation) Act, 1992, and approved by the Minister of Commerce & Industry.

    GST - States

    2.
    08/2025-State Tax - dated - 12-2-2025 - Gujarat SGST
    State Tax Notification for waiver of the late fee
    Summary : The Government of Gujarat, under the Gujarat Goods and Services Tax Act, 2017, announces a waiver of the late fee for filing annual returns in FORM GSTR-9 for the financial years 2017-18 to 2022-23. This applies to registered persons who failed to submit the reconciliation statement in FORM GSTR-9C along with their annual return but do so by March 31, 2025. However, no refunds will be issued for late fees already paid for delayed submissions of FORM GSTR-9C for these years. The notification is issued by the Finance Department, Government of Gujarat.
    3.
    07/2025-State Tax - dated - 12-2-2025 - Gujarat SGST
    Gujarat Goods and Services Tax (Amendment) Rules, 2025
    Summary : The Gujarat Goods and Services Tax (Amendment) Rules, 2025, introduces changes to the Gujarat Goods and Services Tax Rules, 2017. Effective from January 23, 2025, the amendments include the insertion of Rule 16A, which allows the issuance of a temporary identification number for individuals not liable for registration but required to make payments under the Act. Modifications to rules 19 and 87 are also outlined, along with a new format for FORM GST REG-12, detailing the process for granting temporary registration or identification numbers. The notification is issued by the Gujarat Finance Department under the authority of the Governor.
    4.
    S.O. 17/P.A.5/2017/S.128/2025 - dated - 24-2-2025 - Punjab SGST
    State Tax Notification for waiver of the late fee
    Summary : The Government of Punjab has issued a notification waiving the late fee under section 47 of the Punjab Goods and Services Tax Act, 2017, for registered persons who failed to submit the reconciliation statement in FORM GSTR-9C along with the annual return in FORM GSTR-9 for the financial years 2017-18 to 2022-23. This waiver applies to the excess late fee if the reconciliation statement is submitted by March 31, 2025. However, no refunds will be provided for late fees already paid for delayed submissions.
    5.
    G.S.R. 4/P.A.5/2017/S.164/Amd.(73)/2025 - dated - 24-2-2025 - Punjab SGST
    Punjab Goods and Services Tax (First Amendment) Rules, 2025
    Summary : The Punjab Goods and Services Tax (First Amendment) Rules, 2025, have been enacted by the Governor of Punjab under the Punjab Goods and Services Tax Act, 2017. Key amendments include the introduction of Rule 16A, allowing for the issuance of a temporary identification number to individuals not liable for registration but required to make payments under the Act. Additionally, changes to existing rules include modifications in Rule 19 and Rule 87, and the substitution of FORM GST REG-12 to accommodate these updates. These amendments will take effect upon their publication in the Official Gazette.
    6.
    G.O.Ms.No. 16 - dated - 22-2-2025 - Telangana SGST
    Appointing the Appellate Authorities
    Summary : The Government of Telangana, under the Telangana Goods and Services Tax Act, 2017, has appointed new Appellate Authorities to hear appeals against orders by adjudicating authorities. This supersedes previous orders. The appointments are effective from November 1, 2024. The table specifies the cadre of adjudicating authorities and the corresponding appellate authorities, which include Senior Additional Commissioners and Joint Commissioners of State Tax. These authorities will handle appeals from various divisions, including Abids, Nizamabad, Secunderabad, Malkajgiri, Saroornagar, Begumpet, Charminar, Punjagutta, Warangal, Adilabad, Hyderabad Rural, Karimnagar, Madhapur, and Nalgonda.
    7.
    1664 /XI-2-24-9(47)-17-T.C.-271- U.P.Act-1-2017-Order (334)-2024 - dated - 8-1-2025 - Uttar Pradesh SGST
    Notified relevant date specified in the table.
    Summary : The Governor of Uttar Pradesh has issued a notification under the Uttar Pradesh Goods and Services Tax Act, 2017, specifying dates for tax payment by registered persons to avoid interest or penalties. For those issued notices under section 128A, payments must be made by March 31, 2025. For notices under section 74, payments are due six months from the order's issuance by the proper officer. This notification is effective from November 1, 2024.
    8.
    1650 /XI-2-24-9(47)-17-T.C.-270- U.P.Act-1-2017-Order (333)-2024 - dated - 8-1-2025 - Uttar Pradesh SGST
    Seeks to bring in force provision of Uttar Pradesh Goods and Services Tax (Second Amendment) Act, 2024
    Summary : The Governor of Uttar Pradesh has ordered the publication of a notification regarding the Uttar Pradesh Goods and Services Tax (Second Amendment) Act, 2024. The notification specifies that the provisions of sections 6, 34, and 36 of the Act are deemed effective from September 27, 2024. Additionally, the provisions of sections 2 to 5, 7 to 29, 30 to 33, and 35 are deemed effective from November 1, 2024. This order is issued under the authority of the Uttar Pradesh Goods and Services Tax (Second Amendment) Act, 2024.
    9.
    1503 /XI-2-24-9(47)-17-T.C.-269- U.P.Act-1-2017-Order (332)-2024 - dated - 7-1-2025 - Uttar Pradesh SGST
    Seeks to bring in force provision of Uttar Pradesh Goods and Services Tax (Amendment) Act, 2024
    Summary : The notification announces the enforcement of specific provisions of the Uttar Pradesh Goods and Services Tax (Amendment) Act, 2024. The Governor has ordered the publication of this notification, which states that, under the powers granted by the Act, section 4 is deemed effective from October 1, 2024. Additionally, sections 2 and 3 will come into effect on April 1, 2025. The notification is issued by the authority of the Governor and is signed by the Principal Secretary.

    SEBI

    10.
    F. No. SEBI/LAD-NRO/GN/2025/234 - dated - 4-3-2025 - SEBI
    Corrigendum - Notification No. SEBI/LAD-NRO/GN/2025/230 dated 14th February, 2025
    Summary : In the corrigendum issued by the Securities and Exchange Board of India (SEBI) dated 4th March 2025, an amendment is made to a previous notification dated 17th February 2025. The correction involves changes in the English version of the Gazette of India, specifically in Regulation 3, sub-regulation (I), clause (ii). The text "after sub-regulation (29)" is corrected to "after sub-regulation (30)", and the symbol "(30)" is corrected to "(31)". The notification is authorized by the Executive Director, Babitha Rayudu.
    1 Circulars / Instructions / Orders Toggle

    Customs

    1.
    06/2025 - dated 4-3-2025
    Disposal of Unmanned Aircraft Systems (UAS)/Unmanned Aerial Vehicles (UAV)/Remotely Piloted Aircraft Systems (RPAS)/Drones
    Summary : The circular from the Central Board of Indirect Taxes and Customs outlines amendments regarding the disposal of unmanned aircraft systems, including drones. It mandates that all drones be transferred to designated warehouses at major airports in Chennai, Delhi, Kolkata, Mumbai, and Bengaluru for stocking, segregation, and joint inspection. The circular also updates the mapping of customs zones to these focal commissionerates and provides a list of nodal officers responsible for overseeing the process. These changes modify previous instructions issued in Circular No. 32/2019 and Circular No. 05/2024.
    62 Case Laws Toggle
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