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    TMI Tax Updates e-Newsletter
    Jun 25,2025

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    40 Highlights / Catch Notes Toggle
    7 Articles Toggle
    By: Ishita Ramani
    Summary : Charitable trusts, NGOs, and religious institutions must complete 12A registration through Form 10A before accepting donations to ensure tax exemption and legal compliance. Early registration provides income tax exemption from operations start, increases donor confidence, enables 80G certificate eligibility for donor deductions, ensures proper financial reporting, and grants access to government and foreign funding. The online process requires PAN card, trust deed, trustee details, address proof, and financial documents. Delayed registration results in tax liability on donations, difficulty issuing receipts, ineligibility for grants, and increased compliance scrutiny from tax authorities.
    By: YAGAY andSUN
    Summary : The Agreement on Subsidies and Countervailing Measures (SCM Agreement) is a core WTO framework regulating government subsidies and countervailing measures to prevent trade distortion. It defines subsidies as government financial contributions conferring benefits to specific industries. The agreement categorizes subsidies into prohibited (export and import substitution subsidies), actionable (those causing adverse trade effects), and formerly non-actionable types. Countries can impose countervailing duties on subsidized imports after conducting investigations proving material injury. The agreement requires transparency through WTO notifications and provides dispute resolution mechanisms. Special provisions exist for developing countries, allowing flexibility in subsidy policies. Key provisions address definitions, prohibited practices, actionable subsidies, countervailing measures, and dispute settlement procedures to ensure fair international trade competition.
    By: DR.MARIAPPAN GOVINDARAJAN
    Summary : A private limited company engaged in real estate development filed its income tax return claiming a loss carry-forward. The Central Processing Center rejected the claim, determining the return was filed late by 2 seconds past the midnight deadline. The company argued the delay resulted from technical glitches and server rush during the final filing hours. The First Appellate Authority ruled in favor of the company, treating the return as timely filed. The Income Tax Department appealed to ITAT, which upheld the decision. The tribunal relied on precedents involving similar minimal delays (2-7 minutes) caused by technical issues, ruling that such delays due to system malfunctions during peak filing periods should be condoned and cannot penalize taxpayers.
    By: Bimal jain
    Summary : The Allahabad High Court set aside a GST registration cancellation order where the taxpayer was not served physical notice prior to adjudication. The court held that cancellation without proper service of notice violates natural justice principles. The revenue department issued show cause notices only electronically through the GST portal for 2018-19, but failed to provide physical or offline notice before passing the cancellation order. The court directed the taxpayer to submit a final reply within four weeks and mandated a fresh order after providing personal hearing opportunity within three months. The judgment emphasizes that proper notice service is not merely procedural but a fundamental safeguard ensuring fair opportunity to taxpayers before coercive actions.
    By: Bimal jain
    Summary : The Maharashtra Authority for Advance Ruling determined that time limits under Section 16(4) of the CGST Act apply to Input Tax Credit claimed through Bills of Entry for imported goods. An importer paid IGST on imports in August 2022 but failed to claim the credit in GSTR-3B returns before the November 30, 2023 deadline. The AAR held that Bills of Entry qualify as tax invoices and that Section 16(4)'s time restrictions extend to import-related ITC through IGST Act provisions. The ruling emphasizes that all ITC, including on imports, must meet statutory deadlines to prevent indefinite credit carry-forward and maintain fiscal discipline.
    By: Abhishek Raja
    Summary : The article analyzes five landmark High Court judgments establishing boundaries for GST recovery proceedings and protecting taxpayer rights. Courts ruled that pre-deposit during appeals creates deemed stay on recovery, authorities cannot issue recovery notices during statutory appeal periods, and natural justice requires proper service of notices. Key protections include allowing three-month appeal periods before recovery, ensuring effective communication of show-cause notices, and prohibiting ex parte bank account attachments. The judgments emphasize that while GST law empowers revenue recovery, it must operate within statutory timelines, natural justice principles, and constitutional protections including due process and property rights.
    By: Bimal jain
    Summary : The Allahabad High Court ruled that GST authorities must issue Form GST MOV-09 penalty orders even when taxpayers pay penalties under protest to secure release of detained goods. A company's goods were intercepted and detained, prompting payment of penalty under protest to obtain release. When authorities refused to issue the formal penalty order, claiming it was unnecessary after payment, the court disagreed. The court held that non-issuance violates the taxpayer's right to appeal, as formal orders are required to challenge penalty validity. Authorities were directed to issue the MOV-09 form within three weeks, ensuring due process rights are preserved.
    15 News Toggle
    Summary : West Bengal authorities approved building plans for a major IT company's new office campus, creating 25,000 direct jobs upon completion. The project spans 20 acres with Phase-I developing 9 lakh sq ft including an 11-storey tower for 5,000 employees. Phase-II will add 15 lakh sq ft generating 20,000 additional positions. The state chief minister emphasized this development as part of the region's IT-led growth strategy and positioning as an innovation hub. The campus represents significant expansion in the state's technology sector alongside similar developments in other major Indian cities.
    Summary : The Federal Reserve Chair stated the central bank will wait to assess economic developments before adjusting interest rates, opposing the President's demands for immediate cuts. The President criticized the Fed Chair on social media, calling for Congressional pressure. The Fed's rate-setting committee unanimously kept rates unchanged, though members showed divisions on future cuts with varying projections. Two Fed board members suggested possible rate reductions as early as July. The President wants rate cuts to reduce government debt interest payments, but Fed officials maintain this isn't their mandate. Despite tariff concerns, inflation has remained relatively stable.
    Summary : Maharashtra cabinet approved Rs 20,787 crore allocation for the 802-km Shaktipeeth Expressway connecting eastern Maharashtra with southern Konkan region. The expressway will link a location in Wardha district with the Maharashtra-Goa border in Sindhudurg district, passing through 12 districts and reducing travel time between major cities from 18 hours to eight hours. The project aims to connect pilgrimage sites and develop rural areas through improved connectivity and tourism. The cabinet also approved increased allowances for Scheduled Tribes students in hostels, with monthly living allowances nearly doubled across categories, and approved various other infrastructure and administrative measures.
    Summary : The Federal Reserve Chair stated the central bank will maintain its wait-and-see approach on interest rate cuts despite pressure from the President for immediate reductions. The Fed's rate-setting committee unanimously voted to keep rates unchanged at approximately 4.3 percent, though internal divisions emerged regarding future cuts. Seven members projected no rate cuts this year, while ten forecast at least two reductions. The Chair suggested monitoring economic responses to tariffs and policies over summer before deciding on rate changes, indicating potential cuts wouldn't occur until September. However, two board members suggested cuts could happen as early as July.
    Summary : Two major economies are finalizing their free trade agreement with legal review progressing rapidly and signing expected by month-end. A senior commerce official is conducting meetings in the partner country's capital to expedite the process. The agreement, concluded after three years of negotiations, will eliminate tariffs on labor-intensive exports like leather and textiles while reducing costs for imported vehicles and spirits. The deal aims to double bilateral trade to $120 billion by 2030. Following signature, the pact requires parliamentary and cabinet approval before implementation, expected within a year.
    Summary : A pharmaceutical company completed acquisition of a manufacturing facility in Madhya Pradesh for Rs. 149 crores in an all-cash deal. The acquired facility, located in a Special Economic Zone, manufactures steroids, hormones, and high-potency products including immunosuppressants and oncology medications. The facility was FDA-inspected in 2022 and spans over 16,000 sq. m. built-up area with expansion potential. This acquisition represents the company's third formulations manufacturing location, strengthening supply chain capabilities and supporting expansion in regulated markets, particularly the United States.
    Summary : Directorate of Revenue Intelligence officials seized 92.1 lakh foreign-origin cigarettes worth Rs. 18.2 crore in Chennai. The contraband was smuggled from Dubai, mis-declared as bathroom and sanitary fittings in a container. The seized cigarettes included various brands and violated packaging requirements under the Cigarettes and Other Tobacco Products Act, lacking mandatory health warnings. The goods were seized under Customs Act provisions. In the past year, DRI has confiscated 4.4 crore cigarette sticks valued at Rs. 79.67 crore through Chennai ports.
    Summary : The Prime Minister stated that Operation Sindoor demonstrated India's stringent anti-terrorism policy globally. A Congress leader alleged vote theft in Maharashtra assembly polls and demanded digital voter rolls and CCTV footage. The Election Commission responded that elections follow legal procedures and candidates can approach courts. Congress criticized a US travel advisory for India, calling it maligning. India evacuated citizens from Iran and Israel amid escalating tensions. The Defence Minister will advocate for enhanced counter-terrorism cooperation at a Shanghai Cooperation Organisation meeting in China. Various other political and business developments were reported.
    Summary : The Reserve Bank of India Governor delivered a convocation address at the Indian Institute of Technology, congratulating graduating students and sharing four key life lessons from his experience as an alumnus. He emphasized continuous learning throughout life, questioning the status quo to drive innovation, pursuing virtuous actions without fearing results, and building trust through integrity and ethics. The Governor reflected on his own transformative experience at the institute and encouraged graduates to dream big while maintaining character, humility, and purpose. He urged them to make their institution, families, and country proud while carrying forward the spirit of continuous improvement and ethical leadership in their future endeavors.
    Summary : The Finance Minister announced that trade agreement negotiations with the US and EU are progressing rapidly and will conclude soon. India aims to achieve USD 2 trillion in exports by 2030, having already signed agreements with UAE, Australia, and EFTA bloc, with UK negotiations completed. Total exports reached a record USD 825 billion in FY25, growing 6% despite global uncertainties. FDI inflows of USD 668 billion from 2014-24 represent 67% of total FDI over 24 years. The government introduced Export Promotion Mission and Bharat Trade Net to support exporters through digital infrastructure and trade facilitation measures.
    Summary : India's Finance Minister defended the country against allegations of being a "tariff king," stating that effective tariff rates are significantly lower than statutory levels. The 2025-26 Budget reduced tariff rates to eight categories, including zero rate, down from previous levels through systematic reforms. India's average customs duty decreased to 10.66 percent from 11.65 percent, aligning closer to Southeast Asian countries' levels. The Minister emphasized that parliamentary approval allows maximum tariff levels, but actual implementation remains substantially lower. These reforms aim to boost domestic manufacturing, promote exports, and facilitate trade while reducing regulatory burden on businesses.
    Summary : The High Court dismissed a petition seeking to void a BJP legislator's 2024 election victory based on his polygamous status. The tribal community member had disclosed both spouses in his election affidavit, including their financial details. A social activist challenged this, arguing the second marriage violated Hindu Marriage Act and constituted false declaration. The court ruled that honest disclosure of marital status doesn't violate election rules, noting polygamy is permitted in the candidate's tribal community customs. The bench emphasized that voluntary truthful disclosure cannot be grounds for challenging elections, and candidates shouldn't be barred from contesting due to culturally permitted practices.
    Summary : A financial services company launched a specialized loan product for legal professionals with interest rates starting at 11% per annum. The unsecured loan offers up to Rs. 30 lakh with repayment terms extending to 96 months. The product targets both practicing advocates and salaried legal associates for various professional needs including office setup, technology upgrades, certifications, and operational expenses. The application process is entirely digital with minimal documentation requirements. The loan requires no collateral and features fast approval and disbursal processes to support career growth and practice expansion in the legal sector.
    Summary : The Institute of Chartered Accountants of India's GST & Indirect Taxes Committee released a Practical Guide to GST Disputes as the goods and services tax system approaches its eighth anniversary. The guide addresses increasing GST-related disputes arising from evolving interpretations, procedural uncertainties, and technological changes, with challenges intensified by the pandemic. The publication provides practical insights for handling complex disputes and appeals, including representation before the upcoming GST Appellate Tribunal. Updated through May 2025, the guide aims to help chartered accountants navigate compliance and litigation complexities while advising clients through all stages of GST adjudication and appellate processes.
    Summary : A Commerce and Industry Minister commemorated the third anniversary of a government building, describing it as a symbol of modern governance and India's trade progress. The official highlighted achievements including India crossing $800 billion in total exports, with non-petroleum exports reaching $374.1 billion. Key developments included 14 Free Trade Agreements, removal of Angel Tax for startup investors, and over 1.6 lakh recognized startups making India the third-largest startup ecosystem globally. The Ministry established 12 new industrial smart cities with Rs.28,602 crore investment and unlocked 60,000 acres of salt land for productive use under various development initiatives.
    10 Notifications Toggle

    Customs

    1.
    18/2025 - dated - 23-6-2025 - ADD
    Seeks to levy anti-dumping duty on imports of "Linear Alkyl Benzene(LAB)" imported from Iran and Qatar for a period of 5 years, on the recommendations of DGTR
    Summary : Anti-dumping duty is imposed on imports of Linear Alkyl Benzene (LAB) originating from or exported by Iran and Qatar for five years, following findings that these goods were dumped at prices below normal value, causing material injury to the domestic industry by undercutting domestic prices. The duty rates vary depending on the country of origin, export, and producer, ranging from 14 to 62 USD per metric ton. The levy is effective from the date of notification publication and payable in Indian currency, with exchange rates determined as per government notifications. The measure aims to protect domestic producers by removing the injury caused by dumped imports.

    GST - States

    2.
    S.O. 87 - dated - 22-4-2025 - Bihar SGST
    Extend the due date for furnishing FORM GSTR-5 for the month of December, 2024
    Summary : The Bihar Commercial Tax Department issued a notification extending the due date for filing FORM GSTR-5 returns by non-resident taxable persons for December 2024. The deadline was extended until January 15, 2025, under the authority of the Bihar Goods and Services Tax Act, 2017. The notification was issued on April 22, 2025, and became effective from January 10, 2025, following recommendations from the Council and exercising powers under relevant sections of the Act.
    3.
    S.O. 86 - dated - 22-4-2025 - Bihar SGST
    Extend the due date for furnishing FORM GSTR-6 for the month of December, 2024
    Summary : The Bihar Commercial Tax Department extended the due date for filing FORM GSTR-6 returns by Input Service Distributors for December 2024 until January 15, 2025. This extension was issued under the Bihar Goods and Services Tax Act, 2017, following recommendations from the Council. The notification became effective from January 10, 2025, and was signed by the Commissioner State Tax-cum-Secretary under the Governor's authority.
    4.
    S.O. 85 - dated - 22-4-2025 - Bihar SGST
    Extend the due date for furnishing FORM GSTR-7 for the month of December, 2024
    Summary : The Bihar Commercial Tax Department has extended the due date for filing FORM GSTR-7 returns for December 2024. Under the Bihar Goods and Services Tax Act, 2017, registered persons required to deduct tax at source must now submit their returns by January 12, 2025, instead of the original deadline. This extension applies specifically to returns filed under section 39(3) and rule 66 of the Bihar GST Rules. The notification became effective from January 10, 2025, and was issued by the Commissioner on recommendations from the Council.
    5.
    S.O. 84 - dated - 22-4-2025 - Bihar SGST
    Extend the due date for furnishing FORM GSTR-8 for the month of December, 2024
    Summary : The Bihar Commercial Tax Department extended the due date for filing FORM GSTR-8 for December 2024 until January 12, 2025. This form contains details of outward supplies through e-commerce operators under section 52 of the Bihar Goods and Services Tax Act, 2017. The notification was issued on April 22, 2025, by the Commissioner based on Council recommendations, exercising powers under the Act and corresponding rules. The extension became effective from January 10, 2025.
    6.
    S.O. 83 - dated - 22-4-2025 - Bihar SGST
    Corrigendum - Notification No. 9/2024- State Tax (Rate), dated 09.10.2024
    Summary : The Commercial Tax Department of Bihar issued a corrigendum to correct notification 9/2024-State Tax (Rate) dated October 9, 2024. The correction changes the text in serial number 5AB, column 2 from "any property" to "any immovable property" in the published table. This amendment clarifies that the tax provision applies specifically to immovable property rather than all types of property. The corrigendum takes effect from December 9, 2024, and was issued under the authority of the Governor of Bihar through the Commissioner State Tax-cum-Secretary.
    7.
    S.O. 82 - dated - 22-4-2025 - Bihar SGST
    Rescinds the Notification No. S.O. 453 dated 09.10.2024 and Notification No. S.O. 454 dated 09.10.2024
    Summary : The Commercial Tax Department of Bihar issued a notification rescinding two previous notifications numbered S.O. 453 and S.O. 454, both dated October 9, 2024, which were published in the Bihar Gazette Extraordinary. The rescission was ordered by the Governor under section 128 of the Bihar Goods and Services Tax Act, 2017. The notification came into force retrospectively from December 9, 2024, and was signed by the Commissioner State Tax-cum-Secretary.
    8.
    S.O. 81 - dated - 22-4-2025 - Bihar SGST
    Amendment in Notification No. S.O. 206 Dated 23.12.2020
    Summary : The Bihar Commercial Tax Department issued notification S.O. 81 dated April 22, 2025, amending a previous notification from December 23, 2020. The amendment extends time limits for furnishing GSTR-1 outward supply details. For registered persons filing monthly returns, the deadline for December 2024 tax period is extended until January 13, 2025. For quarterly return filers, the deadline for October-December 2024 period is extended until January 15, 2025. The notification became effective from January 10, 2025, and was issued under powers conferred by sections 37 and 168 of the Bihar Goods and Services Tax Act, 2017.
    9.
    S.O. 80 - dated - 22-4-2025 - Bihar SGST
    Extend the due date for furnishing FORM GSTR-3B for the month of December, 2024 and the quarter of October to December, 2024
    Summary : The Bihar Commercial Tax Department extended the due date for filing FORM GSTR-3B returns for December 2024 and the October-December 2024 quarter. Monthly returns for December 2024 are due by January 22, 2025. Quarterly returns have staggered due dates: January 24, 2025 for registered persons in certain southern and western states/union territories, and January 26, 2025 for those in northern and eastern states/union territories. The notification is effective from January 10, 2025, issued under the Bihar Goods and Services Tax Act, 2017.
    10.
    S.O. 79 - dated - 22-4-2025 - Bihar SGST
    Amendment in Notification No. S.O. 448 dated 04.09.2024
    Summary : The Commissioner of State Tax, Bihar, exercising powers under Bihar Goods and Services Tax Rules, 2017, amended notification dated 04.09.2024 by substituting the existing table with a new comprehensive table. The amendment establishes 41 GST Facilitation Centers (GST Suvidha Kendra) across various jurisdictional areas and tax circles throughout Bihar state. Each entry specifies the jurisdiction area, center name, and complete address of facilitation centers located in offices of Deputy/Assistant Commissioners and Joint Commissioners. The notification became effective from December 25, 2024, and was issued under the authority of the Governor of Bihar.
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