News Update

Trump’s ‘Liberation Day’ - 10% baseline tariff on all exporters + 34% on China + 26% on India; 25% on South Korea; 24% on Japan & 20% on EUImpact of tariffs - Gold hits new high + bonds surge but stocks nosediveCentre imposes President’s rule in ManipurLS votes in favour of Waqf Amendment BillTrump exempts oil imports from tariffsTrump relents on friends - Just 10% tariff on UK and AustraliaSouth African coalition in peril after budget is tabled without partner’s consentIsrael decides to acquire more territory in GazaWaqf Bill - No provision to appoint non-Muslim in Board, says HMRajasthan HC tosses out Asaram bail applicationUIDAI's AI-Powered Aadhaar Face Authentication sees over 130.5 Crore transactionsGST - Via automated email and SMS on registered mobile number, SCNs were sent for all periods - Only for 2019-20, petitioner states that he did not receive copy and which is not possible to accept - Nonetheless, petitioner permitted to file appeal: HCMinister urges CBI to establish State-of-the-Art Cyber Forensic LabsGST - Respondent department has failed to assign any valid reason justifying the action of cancellation of registration and that too with retrospective effect: HCMHI log sales of more than one million of EVs in FY 2024-25Cus - Classification of product is a recurring and a legal issue - Court deems it appropriate to remand the matter to CESTAT, for a fresh adjudication on the classification issue itself: HCFM launches 'NITI NCAER States Economic Forum' PortalCus - T-3 IGI - Gold bangles weighing 50 grams seized - Since one year period has elapsed, no SCN can be issued - Detention impermissible: HCGST and the tipping pointCus - Old iPhones seized - Whether SCN was delivered to petitioner within prescribed period is a question of fact - Reply to be filed and provisional release may be sought: HCGovt amends quality control order for vinyl acetate monomerGovt notifies 7.1% interest rate for Special Deposit Scheme for non-govt Provident FundsGovt makes Aadhaar mandatory for receiving MSME benefitsGovt revises procurement guidelines to give preference to domestically-manufactured iron and steel

TODAY'S CASE (DIRECT TAX)

TODAY'S CASE (INDIRECT TAX)

What's New (Others)

Income Tax Notification 24
Income Tax Circular
Customs Tariff Notification
Customs NT Notification
Customs Circular
Anti Dumping Notification
DGFT Notification
DGFT Public Notice

What's New (GST)

CGST Rule Notification

11

CGST Rate Notification
CGST Circular
IGST Rule Notification
IGST Rate Notification
UTGST Rate Notification
UGST Rule Notification
Cess Rate Notification