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The Central Board of Indirect Taxes and Customs (CBIC) has communicated to the Ministry of Parliamentary Affairs that there will be no legislative or non-legislative business for them to present to Parliament in the upcoming Budget Session of 2026. An Office Memorandum has been issued by the GST Policy Wing of the CBIC, which is […]
The Madras High Court has overturned a GST demand relating to a corporate guarantee, determining that the tax authority failed to take into account the CBIC circulars cited by the taxpayer during the assessment process. Justice G R Swaminathan, while permitting the writ petition, held that an assessment order could not stay if the tax […]
The Comptroller and Auditor General (CAG) recently reported that the CBIC is struggling with a significant shortage of staff for its auditing teams. As of July 1, 2024, nearly 38% of the positions are unfilled. This lack of personnel is causing delays and gaps in the audits that the CBIC plans to conduct. The crucial […]
After the GST reduction, the Central Board of Indirect Taxes & Customs ( CBIC ) is ready to track the price. The Finance Ministry, while answering to the questions before the Lok Sabha, mentioned that the board is working with the trade bodies, etc, to ensure the benefits are passed to the final consumers. The […]
The Appointments Committee of the Cabinet (ACC), in an administrative development, has approved the appointment of Shri Vivek Chaturvedi, a 1990-batch IRS (Customs & Indirect Taxes) officer, as the new Chairman of the Central Board of Indirect Taxes & Customs (CBIC). The Department of Personnel & Training (DoPT) has issued the appointment order on 28th […]
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, issued Instruction No. 30/2025 on October 13, 2025. This directive mandates that all Customs and Goods and Services Tax (GST) field formations must utilise the Online Look Out Circular (LOC) Portal for the issuance and management of Look Out Circulars. This […]
The CBIC released a new announcement, through Circular No. 253/10/2025-GST, on October 1, 2025. This new circular is meant to withdraw an earlier one, Circular No. 212/6/2024-GST, which was issued on June 26, 2024. Essentially, the new circular updates or changes the information provided in the previous one. Norms have been furnished under the withdrawn […]
As per the circular issued by the government, the treatment of trade discounts and credit notes under the Goods and Services Tax (GST) regime; however, the experts caution that it may shift compliance and cash flow burdens onto FMCG distributors. Credit Notes and GST ITC According to GST circular 251, financial or commercial credit notes […]
Starting Sept 22, 2025, the CBIC has announced that local delivery services, including those for groceries, food, and essential items ordered online, will be subject to an 18% Goods and Services Tax (GST). This change may lead to increased costs for consumers making online purchases. In its most recent FAQ, the CBIC clarified the application […]
