Summary of key notifications and circulars from Sep 1-7, 2025. Covers updates from Income Tax, GST, DGFT, SEBI, and RBI, including court rulings on reassessment notices, GST refunds, and regulatory changes for InvITs and REITs.
The Supreme Court ruled that a promissory note’s cash component cannot be disbelieved for lack of separate proof. The ruling reinforces that the Negotiable Instruments Act presumption applies to the full value.
GSTN advisory reminds taxpayers that pending GST returns older than three years cannot be filed on the portal from October 1, 2025, under Finance Act, 2023.
Finance Ministry directs GST zones to submit monthly price data of 53 commodities before and after GST rate changes effective 22 September 2025.
Understand the 2025-26 salary tax implications in India. Compare old vs. new tax regimes, tax slabs, deductions (80C, 80D, HRA), and choose the best option for your income.
A summary of the 56th GST Council Meeting’s recommendations, including changes to tax rates, simplified registration for small businesses, and new rules for credit notes.
Understand the process of receiving a GST DRC-01 notice for tax discrepancies. Learn about the relevant sections, time limits, and how to file a reply in DRC-06.
The ITAT Bangalore deleted additions and expense disallowance for an agriculturist, holding that they are not required to maintain books and their substantiated agricultural income cannot be treated as unexplained.
The Sales Tax Bar Association formally requested an extension for the Tax Audit Report filing deadline, citing timeline clashes, technical glitches, and late utility releases.
CBIC has issued a clarification debunking a viral social media message about new GST transition benefits starting from Sept 22. Read the official statement.
