GST Compendium: June 2025

The June 2025 edition of the GST Compendium presents a timely and comprehensive overview of key developments shaping indirect taxation in India and abroad. With judicial decisions refining long-standing interpretations and policy shifts influencing compliance frameworks, this edition offers valuable insights for businesses operating in a dynamic regulatory environment.

From landmark rulings by the Supreme Court on input tax credit and pre-deposit mechanisms to significant policy updates affecting exporters and special economic zones, the compendium highlights areas of strategic importance. It also examines the implications of international trade developments, including recent tariff decisions and bilateral negotiations, which may influence supply chain strategies and market access.

This edition further explores the operational impact of newly introduced provisions under the CGST Act and provides expert commentary on their practical application. Designed for decision-makers and tax professionals, the compendium serves as a reliable reference for aligning business practices with current legal and policy standards.

Key highlights of the GST Compendium June 2025

• Important updates/announcements: On 28 May 2025, the United States Court of International Trade (CIT) invalidated tariffs imposed by Trump using emergency powers granted by the IEEPA. However, on 29 May 2025, the US Court of Appeals for the Federal Circuit issued a temporary administrative stay on the CIT’s order. This stay keeps the tariffs in effect while the court reviews the government’s plea for a full stay during the appeal process.
• Key judicial pronouncements: The Supreme Court settled a much-debated issue by allowing the use of the electronic credit ledger to pay the mandatory pre-deposit in GST appeals, a relief that aligns with Gujarat High Court’s earlier view.
• Significant updates in direct taxes: The CBDT has notified various Income-tax return forms which will be applicable for AY 2025-26 and also notified income-tax return form ITR-U for updated tax returns which will be effective from 19 May 2025.

The Compendium also features insights from our experts on the newly introduced Section 74A of the CGST Act. The edition brings together developments that reflect both continuity and change in the tax ecosystem. With updates across legislation, litigation, and administration, it offers a grounded perspective for those tracking the direction of policy and its practical implications.

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GST Compendium: June 2025