Thought leadership

GST Compendium: March 2025

1440x658px Hero Banner Adobe Stock 536367490

The March edition of the GST Compendium presents key updates across GST, Customs, and direct tax, covering regulatory amendments, judicial rulings, and policy developments. The Supreme Court (SC) has upheld the constitutional validity of arrest provisions in tax laws while highlighting the importance of due process. The insurance sector is grappling with significant tax demands, while Customs has rolled out digital initiatives to enhance efficiency. In direct tax, updates include revised filing deadlines and the introduction of a new Income Tax Bill. Additionally, this edition features expert insights into the GST impact on the real estate sector. 

Key highlights of the GST Compendium March 2025

  • Important updates/announcements: The government of Rajasthan has notified the Amnesty Scheme 2025 for settlement of pre-GST dues. The scheme is effective from 19 February 2025 and shall remain in force until 30 September 2025. It offers 100% waiver of tax, interest, penalty, and late fee in cases where the outstanding demand does not exceed INR 50 lakhs and other significant benefits.

  • Key judicial pronouncements: In a landmark judgement, the SC upheld the constitutional validity of powers related to arrest under specific circumstances, marking a key moment in how tax authorities will wield such authority. Notably, the court stressed the necessity of due process, emphasising that arrest should never be used as a tool of coercion for tax recovery.

  • Significant updates in direct taxes: The CBDT has revised the timeline for filing Form No. 49C and extended the due date for filing Form no. 56F for Assessment Year 2024-25. It has also provided clarification regarding the exception to the e-Appeals Scheme, 2023.
320x441px GST Compendium March 2025
Download Thought leadership

GST Compendium: March 2025

Thank you for downloading.