SIGN IN SUBSCRIBE

News Update

Fadnavis debunks talk of retirement of PM ModiBombay HC rules mediclaim sum cannot be deducted from medical expenses paid under MV ActCus - Determination of anti-dumping duty is a time bound process which is to be exercised by designated authority: HCCus - No seizure memo and no panchanama drawn - Department is taking steps only after filing of petition - There is a need for expedited clearing of goods unless they are prohibited goods: HCGST - Suspension of registration - Bench directs that the GST portal access be given for at least a period of 30 days to enable the Petitioner to file a reply: HCGST - Appeal dismissed on the ground that the same has not been signed by authorised signatory - It was the duty of appellate authority to call upon the Appellant, if he had any doubts with regard to the authority - Order set aside and matter remanded: HCGST - Non-mention of DIN number and absence of the signature of the assessing officer on assessment order is fatal: HCST - SCNs kept pending for periods between 6 to 10 years and thereafter order passed - There is no apparent reason given for the inordinate delay in adjudication - SCNs and order quashed: HCCus - Show cause notices, correspondence and orders ought to be communicated through email by Customs Department: HCIndia-US trade talks concludes in New DelhiCX - Penalty is correctly imposed on assessee for knowingly transporting excisable goods without invoices as they had full knowledge of clandestine removal by manufacturer: CESTATArbitration and mediation crucial for India's emergence as manufacturing hub: GoyalST - Government entities, when transparent in their tax filings, cannot be penalized under extended limitation provisions without substantial proof of deliberate misrepresentation: CESTATRailways holds about 4.9 lakh hectares of Land as of March, 2024Cus - Since the importer misapplied a reduced IGST rate through incorrect classification, demand for recovery of short-paid IGST and penalties is upheld: CESTATRailways uses Covered wagons for bulk onion transportationST - Extended limitation need not be invoked where assessee is under bona fide belief that no Service Tax is payable on services rendered to Govt-run Mega Development Projects & hence did not obtain registration or remit taxes - no intention to evade tax made out: CESTATA woman cannot be coerced to take virginity test: Chhattisgarh HCCapacity Building Program for Lankan Civil Servants concludes at NCGGTrump threatens tariffs on Russian oil purchase if Moscow fails to end war in UkraineI-T - Bank is bound to deduct tax u/s 194N on payments to be made to weavers cooperative society, which was deposited by State Govt. towards products manufactured by weavers which are marketed through State Govt Agencies: HCTIOL wishes All Netizens Happy EidI-T - It would be appropriate for assessee to agitate issue relating to absence of incriminating material in regular appellate proceedings, if he is not satisfied with assessment order passed u/s 153C: HCTrump not coy about exploring options for third termI-T - Only Faceless AO can issue notice u/s 148 and not Jurisdictional AO: HCCBI nabs BIS Joint Director accepting bribeI-T - If findings of ITAT are apparently in contradiction to what is available on record in original Assessment Order as well as Re-Assessment Orders, then view taken by ITAT is erroneous on face of record: HCJapan, China and South Korea agree to promote regional trade amid Trump’s tariffsI-T - Charging of amount towards consideration for activity in advancing general public utility, which is on cost-basis, can't be considered as 'trade, commerce, or business': ITATWith US withdrawal, WHO to trim jobs by a fifthI-T- Assessee cannot be penalised u/s 271(1)(b) for expenditure done through misuse of credit cards by a third party & when there is no willful non-compliance with the statutory notices: ITATViolence in Nepal; Protesters demand restoration of Hindu monarchy; Govt halves security staff of former kingI-T- It is fit case for remand where the assessee inadvertently reported incorrect figures of capital gains while filing ITR for relevant AY: ITATQuake of 7.1 magnitude scares Tonga; Tsunami alert issuedI-T- Re-assessment upheld as AO has sufficient material to initiate it, based on information received from Investigation Wing; additions framed u/s 68 quashed as AO lacked adequate material to disprove contentions: ITATDeath toll in Myanmar quake races beyond 1730; over 2800 injuredI-T - There is no scope of any addition/deletion or substitution in AO's reopening reasons: ITATUS decides to set up war-fighting base in JapanI-T - Question of increasing book profit on account of disallowance u/s 14A r/w Rule 8D will not arise: ITAT
 
Cabinet approves Nutrient Based Subsidy rates for Kharif, 2025

By TIOL News Service

NEW DELHI, MAR 28, 2025: THE Union Cabinet approved  the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2025 (from 01.04.2025 to 30.09.2025) on Phosphatic and Potassic (P&K) fertilizers.

The budgetary requirement for Kharif season 2024 would be approximately Rs. 37,216.15 cr. This is approximate Rs. 13,000 crore more than the budgetary requirement for Rabi seasons 2024-25.

Benefits:

Availability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured.

Rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs.

Implementation Strategy and targets :

The subsidy on P&K fertilizers including NPKS grades will be provided based on approved rates for Kharif 2025 (applicable from 01.04.2025 to 30.09.2025) to ensure smooth availability of these fertilizers to the farmers at affordable prices.

Background:

Government is making available 28 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is governed by NBS Scheme w.e.f. 01.04.2010. In accordance with its farmer friendly approach, the Government is committed to ensure the availability of P&K fertilizers to the farmers at affordable prices. In view of the recent trends in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to approve the NBS rates for Kharif 2025 effective from 01.04.25 to 30.09.25 on Phosphatic and Potassic (P&K) fertilizers including NPKS grades. The subsidy would be provided to the fertilizer companies as per approved and notified rates so that fertilizers are made available to farmers at affordable prices.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Technical Session 1: Decoding New Income Tax Bill 2025

TOP NEWS


VISION 360





Technical Session 2 - Retrospective Taxation - Surge in GST Litigation - Possible Remedies.


Technical Session 3 : Sustainability - An Economic Imperative.

TII LATEST

TIOLCORPLAWS LATEST