Centre Says Tax Exemption For Cooperative-Made Goods Lies With GST Council; Lists Wide-Ranging Tax Relief & Financial Support For Cooperatives

The Union Minister for Cooperation, has told the Lok Sabha that the Government received requests to exempt goods made by cooperative societies from GST. However, decisions on GST exemptions are taken by the GST Council, which is a constitutional body. Despite this, the Minister said that the Central Government has already given many tax benefits to cooperatives to improve their financial strength and business growth. Tax Reliefs Already Given:- The reply lists several tax...

Centre Outlines Response To US Tariffs; Announces ₹25,060 Cr Export Promotion Mission, RBI Relief & Credit Support

The Centre on Tuesday in response to impact of escalation in Tariffs imposed by the United States of America has clarified that it is countering through trade negotiations, export promotion schemes, credit support, RBI relief, and FTA diversification. As immediate steps, the following Trade relief measures had been introduced to provide priority support for sectors hit by tariffs including textiles, leather, gems & jewellery, engineering, marine. These are For exporters new...

DGFT Allows Personal Carriage Of Gems & Jewellery Parcels Through Ahmedabad Airport Under FTP 2023

The Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, has amended Paragraphs 4.87(a) and 4.88 of the Handbook of Procedures (HBP) 2023 under the Foreign Trade Policy (FTP) 2023. The amendment now allows import and export of gems and jewellery parcels for personal carriage through Ahmedabad Airport, in addition to the previously listed international airports such as Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bengaluru, Hyderabad and Jaipur.The procedure...

Centre Expands Collateral-Free MSME Financing To ₹10 Crore Under Revamped CGS; Clarifies Subsidy, Equity Support Figures

The Central Government in response to details of financial support and credit facilitation for the Micro, Small and Medium Enterprises (MSMEs) has clarified that effective April 01, 2025, the Ministry of MSME has expanded collateral-free financing by enhancing CGS coverage up to Rs. 10 crores with reduced guarantee fees. Under the credit-linked subsidy schemes, tabulated statistics indicated that Government has in the last three financial years i.e FY 2022-23 to FY 2024-25 assisted ...

IBBI Caps Assignments For Individual Insolvency Professionals At Ten At A Time

The Insolvency and Bankruptcy Board of India has issued the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025, placing limits on the total number of assignments that an individual insolvency professional may handle at a given time. The regulations come into force on November 20. The amendment introduces Regulation 7B titled Number of Assignments, capping the number of assignments an individual insolvency professional may hold, at a time,...

CBIC Notifies Officer-Wise Monetary Limits For Tax Determination & Penalty Proceedings Under GST Regime

The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 254/11/2025-GST dated 27 October 2025, clarifying the assignment of “proper officers” for issuing show cause notices (SCNs) and passing orders under Sections 74A, 75(2) and 122 of the Central Goods and Services Tax Act, 2017. The Board noted that until now, no specific officers had been designated for; tax determination under Section 74A,re-assessment under Section 75(2) where charges of fraud are not...

GSTN Issues Advisory On How To Add Valid Bank Account Details On GST Portal

The Goods and Services Network (GSTN) has issued advisory on furnishing bank account details to avoid suspension of their GST Registration and disruption of business activities. As changes with respect to Rule 10A will be implemented on the GST Portal soon, GSTN clarified that taxpayers who have not yet furnished the bank account details till date to do so at the earliest. As per Rule 10A, taxpayers are required to furnish valid bank account details within a period of 30 days from the...

IBBI Notifies Liquidation Process (Second Amendment) Regulations 2025

On October 14th 2025, the Insolvency and Bankruptcy Board of India (IBBI) has issued “Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2025”. By exercising its power conferred by virtue of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the IBBI has released the said amendment. The amendment came into effect with the prospective application and it modifies the Insolvency and Bankruptcy Board of India...

IBBI Notifies Insolvency Resolution Process For Corporate Persons (Sixth Amendment) Regulations 2025

On October 14th 2025, the Insolvency and Bankruptcy Board of India (IBBI) has issued Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Sixth Amendment) Regulations, 2025. By exercising its power conferred by virtue of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the IBBI has released the said amendment. The amendment came into effect with the prospective application and it modifies the Insolvency and...

CBIC Introduces Goods & Services Tax (GST) Appellate Tribunal (Procedure) Rules 2025, Mandates All Appeals To Be Uploaded On GSTAT Portal

The Central Board of Indirect Taxes and Customs (CBIC) through Notification 256(E), under the Union Ministry of Finance, has officially released a comprehensive set of rules outlining the functioning of the Goods and Services Tax (GST) Appellate Tribunal. As per the notification the GST Appellate Tribunal (Procedure) Rules, 2025 took effect on 24th April, 2025. The rules have been introduced with an objective of promoting uniformity, procedural clarity and digital efficiency in the...

IBBI Introduces Amendments To Allow Homebuyers To Take Possession During CIRP

The Insolvency and Bankruptcy Board of India (IBBI) has introduced amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 through Notification No. IBBI/2024-25/GN/REG122, dated 03.02.2025. These amendments aim to enhance transparency and efficiency in the corporate insolvency resolution process (CIRP), particularly in relation to real estate projects. An Overview of Amendments to the IBBI (Insolvency Resolution Process for Corporate Persons)...

CBIC Issues Guideline To Address Recovery Of Outstanding Dues Till GSTAT Becomes Functional

The Central Board of Indirect Taxes and Customs (CBIC) has issued the guidelines for recovery of outstanding dues, in cases in which first appeal has been disposed of, till the Goods and Service Tax Appellate Tribunal (GSTAT) comes into operation.The Board has received doubts from the trade and the field formations in respect of recovery of outstanding dues, in cases where the first appellate authority has confirmed the demand created by the adjudicating authority, fully or partially, and where...