The July edition of the GST Compendium highlights developments shaping India’s indirect tax framework as the GST regime marks eight years of implementation. It captures recent judicial decisions, regulatory updates, and policy shifts that influence compliance, litigation, and operational strategy. The compendium presents key rulings on refund entitlements, intermediary classification, and digital services taxation, alongside updates from the CBIC and GSTN aimed at improving procedural clarity and system efficiency. It also examines changes under customs, SEZ, and trade policy, including sector-specific schemes and state-level initiatives supporting manufacturing and exports.
Key highlights of the GST Compendium July 2025
- Important updates/announcements: To position Gujarat as a leading destination in India’s electronics value chain, supporting the national goal of enhancing domestic value addition and reducing import dependency, the government of Gujarat has launched a new Electronics Component Manufacturing Policy.
- Key judicial pronouncements: The Sikkim HC has held that a taxpayer is entitled to a refund of its accumulated unutilised ITC upon closure of business, even though such a refund is not explicitly provided for under the GST laws. As there is no specific bar under the GST law against refunding the ITC on business closure, the court set aside the appellate order and allowed the petitioner’s refund claim.
- Significant updates in direct taxes: CBDT has extended the time limit for furnishing income-tax return for certain taxpayers to 15 September 2025. It has also extended the time limit for processing income-tax returns and sending intimation to taxpayers for AY 2023-24 until 30 November 2025.
With GST completing eight years, the compendium brings together developments that matter to businesses—from legal rulings and compliance updates to policy changes and sector-specific initiatives. It offers a practical summary for decision-makers tracking indirect tax trends and planning ahead in a changing regulatory environment.
This edition also features our expert’s view on the rise of the Global Capability Centres (GCCs) and their impact on the Indian economy.
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