Monthly Tax Bulletin: February 2025

Key highlights:

• The Finance Ministry presents the Income-tax Bill, 2025, before the Parliament.
• The CBDT provides clarification on certain aspects of the Vivad se Vishwas Scheme, 2024, in order to remove difficulties.
• The Ministry of Finance excludes International Financial Services Centre units from the levy of tax collected at source on the sale of goods exceeding INR 50 lakh.
• The RBI allows Indian exporters to hold foreign currency accounts abroad.
• Regulatory functions performed by the electricity commissions not taxable under GST – Delhi HC.
• The Madras HC upholds the right to amend bills of entry under the Customs Act and quashes the restrictive public notice.

Monthly Tax Bulletin: February 2025

The February 2025 edition of the Grant Thornton Bharat Monthly Tax Bulletin captures key developments under the direct taxes, transfer pricing, indirect taxes, and FEMA, for January 2025.

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