ITAT Mumbai quashes a Rs.2936 Cr penalty against CGTMSE, ruling its activities are charitable and not subject to the proviso of Section 2(15), and that penalty requires underlying tax liability.
A new customs notification from the Ministry of Finance, effective September 22, 2025, extends an exemption to include the integrated tax on certain goods.
The Reserve Bank of India introduces a new Inter-operable Regulatory Sandbox for testing hybrid financial products under a single window with multiple regulators.
Govt permits revised MRPs on unsold stock from 22 Sept 2025 after GST rate cuts. Businesses must display both old and new MRPs with clear disclosures.
A recent ITAT Patna decision underscores that genuine tax claims aren’t defeated by incorrect section citations. Taxpayers can seek rightful exemptions if conditions are met, even with minor errors.
GST AAR Kerala clarifies that supplying frozen, pre-packaged chicken to institutional buyers is exempt from GST, while supply to non-institutional buyers is taxed at 5%.
Kerala AAR allows a company to transfer GST credits from a merged entity in another state, ruling that the law permits this despite portal restrictions. The AAR examined whether this interstate transfer of ITC was permissible under the law, given the technical barrier.
In a key ruling, the Kerala Authority for Advance Ruling clarified that demo products are not ‘free samples.’ Manufacturers don’t need to reverse Input Tax Credit, a crucial distinction for businesses.
IGST on imported goods for petroleum operations increased from 5% to 18% effective 22 Sept 2025. DGH certificates required for compliance.
In a ruling against Maryland Study Abroad Pvt. Ltd., Kerala AAR held that commissions earned from student admissions abroad are intermediary services with place of supply in India, hence taxable under GST
