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Dear Reader,
Greetings for the day!!!
We are pleased to share the recent Tax notification and circulars.
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CBDT has clarified that Circular No. 05/2025, for waiver of interest on TDS/ TCS, can also be considered for interest levied before issuance of the said circular. |
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CBDT has notified Cost Inflation Index (CII) for the Financial Year 2025–26 as 376. |
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CBDT provides recognition to “Karnataka State Pollution Control Board, Bengaluru
(PAN- AAALK0537G)” for tax exemption u/s 10(46) of the Act. |
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To boost retirement security, CBDT has introduced Unified Pension Scheme (UPS) for new and existing Central Government employees, extending NPS tax benefits to UPS w.e.f. 01.04.2025. |
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| Goods And Services Tax |
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GST Registration Revocation Allowed Even After 270 Days: Guwahati HC
In Munni Char vs. Union of India & Ors. [WP(C) No. 3754/2025], the Guwahati High Court held that GST registration cancellation can be revoked even beyond the 270-day limit if the taxpayer has filed all pending returns and paid applicable tax, interest, and late fees. The petitioner, a sole proprietor from a remote area, could not respond to the SCN due to lack of internet access but later complied fully. The Court observed that cancellation entails serious civil consequences and referred to the proviso to Rule 22(4) of the CGST Rules, which empowers officers to drop cancellation if compliance is ensured. The taxpayer was allowed to apply within two months, and the department was directed to consider restoration accordingly. |
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Deadline to File Pending GST Returns – July 31, 2025
In Marcowagon Retail Pvt. Ltd. vs. Union of India [SCA Nos. 2234 & 2236 of 2025], the Gujarat High Court quashed a 200% penalty imposed under Section 129(1)(a) of the CGST Act for an expired e-way bill in a zero-rated export supply made under LUT. The Court held that when no tax is payable, penalty based on “tax payable” is not sustainable. Distinguishing procedural lapses from tax evasion, it treated the case akin to exempt supplies and limited the penalty to ₹25,000, also ordering release of the bank guarantee. The ruling reaffirms that harsh penalties cannot be levied in absence of revenue loss. |
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CBIC Mandates EPR Registration for Plastic Importers
As per Instruction No. 21/2025-Customs dated 2nd July 2025, CBIC has mandated that all importers of plastic raw materials, plastic-packaged goods, and related products must be registered on the Centralized EPR Portal of CPCB prior to customs clearance. In line with the Plastic Waste Management (Amendment) Rules, 2024, customs officers have been instructed to verify EPR compliance and deny clearance if registration is not in place. Importers are advised to act promptly to avoid clearance delays. |
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We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at info@akgvg.com.
Disclaimer: This insight is meant for informational purposes only and should not be considered as advice or opinion.
Best Regards!
Knowledge Updates Team
AKGVG & Associates (Chartered Accountants)
DELHI | GURGAON | MUMBAI | AHMEDABAD | BANGALORE | CHENNAI | CHANDIGARH | HYDERABAD
Website: https://www.akgvg.com |
