Introduction In a landmark judgment dated June 24, 2025, the Bombay High Court has quashed a recovery notice issued to a bank under Section 79(1)(c) of the Central Goods and Services…
🚨 Supreme Court Upholds Delhi HC Ruling: Negative Balance in ECL Cannot Be Blocked Under Rule 86A of CGST Rules Aaerm Law Associates | July 2, 2025
🔍 Executive Summary The Supreme Court of India has dismissed the Special Leave Petition (SLP) filed by the Deputy Director, Directorate General of GST Intelligence (DGSTI), challenging the Delhi High…
📢 CBDT Notifies “376” as Cost Inflation Index (CII) for FY 2025‑26 | Aaerm Law Associates | July 2, 2025
🧾 Executive Summary The Central Board of Direct Taxes (CBDT) has released Notification No. 70/2025 on July 1, 2025, setting the Cost Inflation Index (CII) for Fiscal Year 2025–26 at 376.…
📢 CBDT Clarity on Waiver of Interest Under Income‑Tax Act Sections 201(1A)(ii)/206C(7) — New Policy Update (Dated: July 2, 2025)
🧾 Background: Revisiting Circular 5/2025 Earlier this year, the CBDT issued Circular No. 5/2025 (March 28, 2025), authorizing certain tax officers to waive interest levied under: Section 201(1A)(ii) – dealing with…
FM Nirmala Sitharaman Hints at Lower GST Rates: “The Expectation Is That It Will Come Down”
đź“… Date: July 1, 2025 · By Aaerm Law Associates 🔍 Overview In a compelling development ahead of the 56th GST Council meeting, Finance Minister Nirmala Sitharaman has signaled that…
GST Filing Rules to Change from July 2025: What Taxpayers Need to Know
đź“… Date: July 1, 2025 · By Aaerm Law Associates 🔍 Overview Starting July 2025, the GST Council is set to introduce two major compliance changes aimed at boosting accuracy,…
Fake IAS Officer Nabbed in Mumbai; Stayed at Customs Guest House, Used Govt‑Plated Car
đź“… Date: July 1, 2025 · By Aaerm Law Associates 🔍 Breaking News Overview In a shocking development, Mumbai’s Crime Branch Unit 12, together with the Malad Police, arrested Chandramohan…
Income Tax Dept. Adds 31 Banks to e‑Pay Tax Service
đź“… Date: July 1, 2025 · By Aaerm Law Associates The Income Tax Department recently announced—on June 27, 2025—that it has expanded the e‑Pay Tax service via the e‑Filing portal…
Income Tax Compliance Calendar: July 2025
đź“… Date: July 1, 2025 · By Aaerm Law Associates As July 2025 kicks off, individuals and businesses must heed several income tax deadlines. Moreover, the Central Board of Direct…
🚨 Major GST Compliance Changes Effective July 2025
1. GSTR‑3B Auto‑Lock Implementation Starting this month, Table 3 of GSTR‑3B will be auto-populated from GSTR‑1, IFF, or GSTR‑1A and will become non-editable. Consequently, any discrepancies must now be corrected…