GSTPAM News Bulletin June 2025

‌PRESIDENT’S MESSAGE

CA Mahesh Madkholkar

United in Purpose, Committed to Progress – Welcome to GSTPAM!

Dear Esteemed Members,

It gives me immense joy and pride to welcome you all to the ever-growing family of The Goods and Services Tax Practitioners’ Association of Maharashtra (GSTPAM). Our association stands tall on the pillars of unity, knowledge-sharing, and mutual respect for every member—be it a budding practitioner or a seasoned expert.

While we recently concluded a remarkable International Residential Refresher Course (RRC), we are deeply saddened by the untimely demise of our senior and highly respected member Shri Suresh Lunavat ji, who left for his heavenly abode due to a sudden heart attack during the RRC. Let us all join together to offer our heartfelt Shraddhanjali and prayers for his noble soul to rest in eternal peace. He will forever remain in our thoughts.

Inspiring Growth & Impact

The month of April witnessed a record-breaking GST revenue collection, crossing 2 lakh crore. This achievement is a result of:

Consistent and transparent tax policies,
Ease of doing business reforms, and
The unwavering dedication of tax professionals, especially from Maharashtra, which continues to be a frontrunner in tax contributions.

Powerful Collaborations, Greater Reach

We are proud to have initiated Joint Workshops in collaboration with AIFTP, BCAS, CTC, MCTC, and WIRC of ICAI. Our recent workshop at the WIRC BKC Auditorium was a grand success, drawing participation from members across Mumbai, Thane, Pune, Vashi, and Vasai, impacting over 50,000 professionals.

With a visionary focus on Self-Redevelopment of Housing Societies, we brought together Architects, PMCs, and Bankers, encouraging societies to move beyond the builder-dominated model and empower themselves by consulting qualified professionals.

We sincerely thank:

CA Pranav Kapadia, Chairman – Joint Workshop Committee
CA Manish Gadia, Convener (Past Chairman, WIRC of ICAI)
CA Manish Goel & CA Prasad Kshirsagar, Joint Conveners

for their extraordinary contribution and tireless commitment.

‌Strengthening Learning & Community

We are equally grateful to our Income Tax Coaching Class Committee for launching new coaching initiatives, enabling members to upgrade their skills and thrive in a dynamic tax ecosystem.

Let’s Grow Together – Your Association Needs You!

As we step into the 75th year of GSTPAM this November, we call upon:

Industry veterans,
Young tax professionals,
Experts from specialized fields, to take charge and contribute actively to the association’s growth.

At GSTPAM, we believe in empowering each other, walking hand-in-hand, and building a future full of opportunities, excellence, and trust.

Let us join hands, share knowledge, serve society, and create a thriving professional community. With warm regards and immense gratitude,

CA Mahesh Madkholkar

President, GSTPAM

		Circular under CGST Act
Circular No.	Date Of Issue	Subject
249/06/2025-GST	09.06.2025	Generation and quoting of Document Identification Number(DIN) on any communication issued by the officers of the Central Board of Indirect Taxes and Customs (CBIC) to tax payers and other concerned persons

		Instruction
Instruction No.	Date Of Issue	Subject
Instruction No. 03/2025-GST	17.04.2025	Instructions for processing of applications for GST registration
Instruction No. 04/2025-GST	02.05.2025	Grievance Redressal Mechanism for processing of application for GST registration
Instruction No. 05/2025-GST	02.05.2025	Timely production of records/information for audit

		Circular and Notification under MGST Act
Notification / Circular No.	Date Of Issue	Subject
Trade Circular No. 13T of 2025	11.04.2025	Various issues related to availment of benefit of section 128A of the MGST Act, 2017-reg.
Notification No. 11/2025—State Tax Dt.06.05.2025	06.05.2025	Seeks to notify MGST (Second Amendment) Rules 2025

All the problems are stuck between “Mind” and “Matter”. If, you don’t “Mind”, it doesn’t “Matter”.

GIST OF TRIBUNAL JUDGEMENTS (VAT)

CA Rupa Gami

M/s Aries Enterprises in Restoration Appeal No. 13 of 2024 dated 21/01/2025

The appeal was dismissed for want of prosecution. It was stated by the appellant that they had changed the consultant and the letter of authority for the new consultant was placed on record. However, the Board showing cause list of matters never reflected the name of the new consultant and therefore, the consultants never paid attention. Also, the appellant was expecting refund under Vat and the same could be adjusted against the CST dues. Therefore, the matter required to be restored back. The Tribunal held that the confusion had occurred and due to justifiable reasons, the appellant was not be able to put forth his case before the Tribunal, when the matter was called out for effective hearing. This being a just cause, the matter be restored to its original number and stage. (Petitioner represented by Adv C.B.Thakar)
M/s Offshore Infrastructure Ltd. In M.A. No. 306 of 2024 dated 21/01/2025

Miscellaneous Application is filed for seeking condonation of delay of around 53 days of delay in filing Second Appeal. The delay was caused as the consultant was busy with income tax matters and had not handed over the first appeal order to the advocate’s office. It was contended by the appellant that for the negligence of the employee and the consultant, the appellant should not be held liable. He relied on the judgements of the Hon’ble Tribunal in the case of Crescent Valves Mfg. Co. in M.A. No. 59 of 1994 dated 22.11.1996, Dex Vin Polymers (M.A. No. 187 of 2013 dated 24.03.2014). Also, the Court should consider the condonation application liberally as laid down in M.S.T. Katiji’s case (66 STC 228(SC).The delay was condoned with some costs. (Petitioner represented by Adv. C.B. Thakar )
M/s Sun Sign and Technologies in Vat S.A. No. 518 of 2019 dated 14/01/2025

Demand was raised in assessment on account of sales made to party not disclosed, on the basis of mismatch of Annexure J1 and J2. The demand was confirmed in first appeal. It was contended by the appellant that there was no sales made to this party in the entire year. All the books of accounts were produced and it was shown that here were no such sales. However, the Department had made additions of sales on the basis of the other having shown purchases. The Tribunal held that since the additions were made by the State, the State had discharge the burden of proving such additions, especially when the appellant had challenged such additions. Besides the mismatch, the State was required to show that the goods were in fact delivered and received by the other party. The State was required to have additional confirmatory proof in the form of delivery of goods from one source to another, payment and receipt of money on account of the transactions done or other evidence in the form of assessment of the party who had claimed to have made purchases from the appellant. The matter was remanded. (Petitioner represented by STP Lakhsman Patole)
M/s Kalpataru Ltd. In Vat S.A. No. 161 of 2021 dated 10/01/2025

The appeal is filed for the period 2009-10 in the case of builders and developers on the ground that whether agreement to sell entered into for sale of flat under construction at all amounts to works contract and if it is so held then calculations under rule 58(1A), rule 58(1),rule 58(1B), value of goods involved in works contract, Input tax credit, credit of tax paid challans and brought forward credit from previous period require to be recalculated. Since in the case of other firms of Kalpataru group, the matter had been remanded, this matter too was to be remanded. Since all the above issues including computational aspects were dealt with in these judgements based on the judgements of MCHI, Supreme Court in Larsen and Toubro decided on 26/09/2013 and Confederation of Real Estate Developers Association of India (CREDAI) in WP 4520 of 2014 decided by the Bombay High Court on 30/04/2015, the matter was remanded. (Petitioner represented by CA Prem Chhatpar)

“If you work, it will work”

INCOME TAX UPDATES

Compiled by

By Adv, Ajay Talreja

PCIT-Central -1 Vs Lata Goel (Delhi High Court)

Delhi High Court held that exemption under section 54F of the Income Tax Act is allowed towards different floors of a house considering it as single residential house. Accordingly, appeal of the revenue dismissed.

Facts- During the year, the Assessee had claimed a deduction of 90 crores u/s. 54F of the Act asserting that the consideration received from the sale of shares of FIITJEE Ltd. — an unlisted company, the gains from which would otherwise be chargeable to tax as capital gains — was invested in acquiring a residential house property. Post examination, AO passed an assessment order dated 27.03.2015 u/s. 153A r.w.s. 143(3) of the Act restricting the deduction u/s. 54F to 30 crores, as against 90 crores claimed by the Assessee. AO reasoned that the amount received from the sale of shares was not directly invested in acquiring the new asset as the amount of 60 Crores continued to be reflected as outstanding. CIT(A) allowed the appeal. ITAT disposed of the appeal of the revenue. Being aggrieved, revenue has preferred the present appeal.

Conclusion- This court in Mrs. Kamla Ajmera v. Pr. Commissioner of Income Tax held that in certain circumstances, multiple residential units may be considered as a single residential house for the purposes of exemption under Section 54F of the Act. Held that we find it difficult to accept that, in the given facts, different floors of a house are required to be considered as multiple residential houses. In view of the above, we find no infirmity with the decision of the learned ITAT in holding that the Assessee could not be denied the deduction under Section 54F of the Act on the ground that she holds more than one residential unit. We also find that there has been no failure on the part of the Assessee to truly and fairly disclose all the material facts in her return. The Assessee had fairly disclosed about the sale of the original asset, in respect of which capital gains had arisen as well as about the house property purchased from the said sale proceeds.

Understanding Advance Tax and Self-Assessment Tax in India

Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and strategic financial planning. These components are pivotal in the Indian income tax system, ensuring the government receives tax revenues periodically throughout the financial year rather than at the end. This article will provide a comprehensive guide on advance tax and self-assessment tax, including the relevant sections of the Income Tax Act, notifications, rules, and practical insights.

What is Advance Tax?

Advance tax, often referred to as `pay as you earn` tax, is the income tax payable if your tax liability exceeds Rs. 10,000 in a financial year. The concept of advance tax is to pay tax in advance rather than waiting until the end of the financial year.

This helps in the timely collection of revenue by the government and reduces the burden of lump-sum payment for taxpayers.

Exemption for Senior Citizens from Advance Tax

As per Section 207(2) of the Income Tax Act, the obligation to pay advance tax does not apply to certain senior citizens. Specifically, an individual resident in India is exempt from paying advance tax if they meet two criteria: (a) they do not have any income chargeable under the head “Profits and gains of business or profession”, and (b) they are of the age of sixty years or more at any time during the previous year. This provision acknowledges the need to reduce the immediate financial burden on senior citizens and makes their tax compliance easier by exempting them from the advance tax payment requirements.

Legal Framework

Advance tax is governed by Sections 208 to 219 of the Income Tax Act, 1961. Key provisions include:

Section 207 : Obligation to pay advance tax.
Section 208 : Conditions for liability to pay advance tax.
Section 209 : Computation of advance tax.
Section 210 : Payment of advance tax by the taxpayer`s own estimate or by the Assessing Officer`s order.
Section 211 : Instalments of advance tax and due dates.

Who Needs to Pay Advance Tax?

Individuals, freelancers, businesses, and corporate entities whose estimated tax liability for the year exceeds Rs. 10,000 are required to pay advance tax. This includes income from various sources such as salary, business income, capital gains, interest income, and rental income.

Calculation of Advance Tax

The computation of advance tax involves estimating your total income for the financial year and calculating the tax liability after considering deductions, exemptions, and rebates. Here`s a step-by-step guide:

Estimate Total Income: Sum up all expected incomes for the financial year.
Calculate Gross Taxable Income: Apply the relevant income tax rates to your estimated income.
Subtract Deductions: Deduct eligible deductions under various sections like 80C, 80D, etc.
Determine Tax Liability: Calculate the total tax payable after considering deductions.
Compute Advance Tax: Ensure the advance tax liability exceeds Rs. 10,000. If it does, proceed with the payment.

Due Dates for Advance Tax Payment

The advance tax is payable in installments as per the following schedule for individuals and non-corporate taxpayers:

15th June: 15% of the estimated tax liability.
15th September: 45% of the estimated tax liability (cumulative).
15th December: 75% of the estimated tax liability (cumulative).
15th March: 100% of the estimated tax liability. For corporate taxpayers, the same schedule applies.

Consequences of Non-Payment or Late Payment

Failure to pay advance tax or short payment can result in interest penalties under Sections 234B and 234C of the Income Tax Act.

Section 234B : Interest for default in payment of advance tax.

Section 234C : Interest for deferment of advance tax.

Interest is calculated at 1% per month or part of a month on the shortfall or unpaid amount.

Actions that can be taken by the Assessing Officer (AO) if a taxpayer fails to pay advance tax- Issuance of Written Order and Notice of Demand (Sub-section 3):

The AO can issue a written order demanding advance tax payment if the taxpayer has been previously assessed by regular assessment for any previous year. Computation shall be in manner laid down in Section 209.
This order must be issued by the last day of February and accompanied by a notice of demand under Section 156.
The notice specifies the instalments for payment, ensuring clarity on the taxpayer`s obligations.

Amendment of Order (Sub-section 4):

If, subsequent to the initial issuance, the taxpayer files a return of income or undergoes regular assessment for a later previous year, the AO can make amendments to the order.
The amended order stipulates the revised advance tax payable, ensuring that the taxpayer`s obligations are accurately reflected based on updated information.

Adjustments based on Taxpayer`s Estimations (Sub-sections 5 and 6):

Taxpayers are provided with the opportunity to adjust their advance tax payments based on their own estimations of current income.
If a taxpayer believes their advance tax liability to be less than the amount specified in the AO`s order, they can send an intimation to the AO and pay the lower amount accordingly. Such intimation shall be sent by the assessee in accordance with rule 39 in Form 28A.
Conversely, if the taxpayer`s estimation indicates a higher advance tax liability, they must pay the increased amount before the due date of the last instalment specified in Section 211.

What is Self-Assessment Tax?

Self-assessment tax is the amount that a taxpayer pays on their assessed income after accounting for advance tax, TDS (Tax Deducted at Source), and other credits. It is payable before the filing of the income tax return under Section 140A of the Income Tax Act, 1961.

When to Pay Self-Assessment Tax?

Self-assessment tax is paid at the time of filing the income tax return if there is any tax due after considering the advance tax and TDS already paid. The taxpayer needs to calculate the final tax liability and pay the balance amount.

Legal Framework

Section 140A: Self-assessment tax is calculated and paid before filing the return of income. It requires the taxpayer to pay the due amount, including any interest and penalty.

Calculation of Self-Assessment Tax

The computation involves the following steps:

Determine Total Tax Liability: Calculate the total tax liability based on your total income for the financial year.
Adjust for TDS and Advance Tax: Subtract the amount of TDS and advance tax paid during the year.
Calculate Balance Tax: The remaining amount is the self-assessment tax that needs to be paid.
Add Interest and Penalty: If there is a delay in payment or filing, add interest under , ,Sections 234A, 234B,
and 234C as applicable.

Payment and Filing

Self-assessment tax can be paid online through the Income Tax Department`s e-filing portal or offline through designated banks. After payment, the details must be included in the income tax return filed by the taxpayer.

Consequences of Non-Payment

Non-payment or short payment of self-assessment tax can result in penalties and interest under various sections of the Income Tax Act:

Section 234A : Interest for default in furnishing return of income.
Section 234B : Interest for default in payment of advance tax.
Section 234C : Interest for deferment of advance tax.

Practical Insights and Recommendations

Regular Monitoring: Taxpayers should regularly monitor their income and tax liability to ensure timely and accurate payment of advance tax.
Professional Assistance: Consulting a tax professional can help in accurate estimation and compliance with advance tax and self-assessment tax requirements.
Utilize Technology: Use online calculators and tools provided by the Income Tax Department to compute and pay taxes efficiently.
Stay Updated: Keep abreast of changes in tax laws, notifications, and circulars issued by the CBDT.

Conclusion :

Advance tax and self-assessment tax are integral components of the Indian tax system, ensuring timely revenue collection and reducing the year-end tax burden on taxpayers. Understanding these concepts, complying with the due dates, and accurately calculating the tax liability are essential for maintaining good tax discipline and avoiding penalties. With improved reporting mechanisms and technology, taxpayers can ensure compliance and contribute to a transparent and efficient tax system.

VASANT NAGORAO BARABDE ………………………………………..Appellant.

V

DEPUTY COMMISSIONER OF INCOME TAX ………………………….Respondent

ITA No. 5372/MUM/2024

Issues Involved :-In this case, the ITAT Mumbai held that addition under Section 56(2)(x)(b)(B) was not sustainable where a flat was allotted against surrender of tenancy rights. The Tribunal accepted that such surrender constituted a capital asset transfer under Section 45 and that the entire capital gain is reinvested in the new flat, making it eligible for deduction under Section 54F. Thus, the addition in the assessee’s hands is deleted.

Matter Involved: The assessee received a residential flat valued at Rs. 2,88,85,600 through a registered agreement with a developer in exchange for surrender of tenancy rights, which was claimed to be held by the assessee’s daughter. The AO treated it as income under Section 56(2)(x)(b)(B). The Tribunal held that tenancy rights constitute a capital asset and their surrender resulted in capital gain under Section 45. Since the entire gain is reinvested in the flat, deduction under Section 54F is allowable, invalidating the addition.

Held by Court: The ITAT ruled that once income falls under a specific head—here, capital gains on surrender of tenancy rights—residual taxation under Section 56 is not applicable. Whether in the hands of the assessee or daughter, Section 54F deduction is allowable. Therefore, the addition made under Section 56(2)(x)(b)(B) is deleted and the assessee’s appeal is allowed.

Section87A

Section 87A was introduced to ease the financial burden on low income earners, which offers a rebate to certain specified assesses with a total taxable income of upto Rs. 5 Lakhs under the Old Regime and Rs. 7 Lakhs under the New Tax Regime (upto Assessment Year 2025-26 and Rs. 12 Lakhs under the New Tax Regime from Assessment Year 2026-27)

Section 87A provides for tax rebate of an amount equal to 100% of income tax provided that the total income does not exceed Rs. 7 Lakhs subject to maximum of Rs. 25,000/- upto Assessment Year 2025-26.

New Tax Regime was introduced by introduction of Section 115BAC by the Finance Act, 2020 w.e.f.

01.04.2021(Assessment Year 2021-22), which provides an option to certain taxpayers to discharge his tax liability at lower rates of tax subject to fulfillment of certain conditions as provided in sub section (2) ofSection 115BAC.

Controversy in Calculating the Rebate Amount u/s 87A

Income liable to tax at special rates was Included in the total income to determine eligibility and allowability of tax rebates on such incomes. No distinction was made for the purposes of allowing the tax rate U/S 87A. On July 5th 2024 the department modified the ITR filing utility to the effect that special rate incomes were ignored for eligibility and calculating the rebate amount u/s 87A. Chamber of Tax Consultants filed a PIL before the Bombay High Court against the arbitrary modification of ITR Utility. Bombay High Court directed the department to modify the utility, allowing the tax payers to claim the relief with the following observation.

“42. In our opinion, whether a rebate under section 87A can be granted only from the tax arrived at under section 115BAC or also from the tax computed under other provisions of Chapter XII is a highly debatable and arguable issue. This would require interpreting various provisions of Chapter XII and Section 87A of the Act. In our view, after hearing the arguments of the learned senior counsel and the learned ASG, we cannot say that the provisions of the Act are so crystal clear as to arrive at a definite conclusion that a rebate under section 87A cannot be granted from the tax computed under other provisions of Chapter XII.

Though the learned senior counsel for the petitioners and the learned ASG argued the matter for four hours each, we were unconvinced that either of the contentions was not even debatable or would admit to only one conclusion. In such a case, in our view, certainly, the respondents cannot restrain or prohibit an assesse from claiming section 87A by modifying their utility by which an assesse is forbidden at the threshold itself from making such a claim. Certainly, such a claim whether eligible or not can be examined in the proceedings under section 143(1), section 143(3), etc. Merely because many returns are required to be processed and only a few of them are selected for scrutiny, it cannot be grounds to prohibit an assessee from making a debatable and arguable claim. In any event, considering the mandates of Articles 265 and 300A, ends, howsoever laudable, cannot justify means.”

From the above observation of the High Court it is seen that the court did not decide the core issue holding that it was a debatable issue, which could be examined in the assessment proceedings. However inspite of directions of the High Court, the department never allowed the claim u/s 87A on special rate incomes while processing the returns or in rectification proceedings. The other relevant points to remember as applicable for A.Y. 2025-26 are as under:-

The rebate u/s 87A is allowable only in case of resident
After amendments through Finance (No. 2) Act, 2024 the date of transfer of the asset is relevant because, if the date of transfer is e.f. 23.07.2024, it will impact.
The period of holding of capital assets
Availability of indexation
Applicable tax rates
The Finance (No. 2) Act, 2024 has made the following amendments, which are worth considering.
Section 2(42A) has been amended to prescribe only two holding periods for determining the nature of capital assets for classification into Long Term and Short Term Capital Assets. The 36 months holding period has been substituted with 24 months for all provisions except listed securities, units of unit trust of India, units of an equity oriented fund and zero coupon bonds where the holding period shall be 12 months.
The second proviso to Section 48 has been amended to provide that no indexation benefit shall be available in respect of the long-term capital assets with an exception in relation to land and building where an option has been provided to pay the tax @ 20% after availing the indexation.
Section 112 has been amended to provide a uniform tax rate of 12.5% on long-term capital gains for all categories of tax payers. However, resident individuals and resident HUFs can choose between the old and the new law when computing long term capital gains tax on the transfer of land or buildings acquired on or before 22/07/2024.
Section 112A has been amended to increase the tax rate on long-term capital gains from 10% to 12.5%. Further, the threshold limit up to which no tax is levied has been increased from Rs. 1,00,000/- to Rs. 1,25,000/-.
Section 111A has been amended to increase the tax rate on short-term capital gains from 15% to 20%.
Now coming to the amendments made by Finance Act 2025, effective from A.Y. 2026-27.
Section 87A has been amended to provide higher rebate of Rs,. 60,000/- to resident individuals taxable under the new tax regime u/s 115BAC (1A).
The total income threshold for rebate eligibility has been increased from 7 Lakhs to Rs. 12 Lakhs.
Marginal tax relief has also been provided, which will be applicable from12 Lakhs to Rs. 12.75 Lakhs.
Slab rates of tax has been restructured enhancing the exemption limit to4,00,000/- and the highest rate of tax has been made applicable on income above Rs. 24 Lakhs.
A Second proviso has been inserted to Section 87A to provide that the rebate cannot exceed the tax payable as per the slab rates under the new tax regime. This insertion of proviso will result in denying the tax rebate u/s 87A on incomes taxable at special rates. Conclusion It is important to note that the amendment through Finance Act, 2025 has settled one part of the dispute that the rebate u/s 87A will not be available against incomes taxable at special rates. However the issue of inclusion of special rate income for determining the eligibility of Rs. 12 Lakhs/Rs. 7 Lakhs remains open to judicial scrutiny. A final ruling or further amendment of the provisions will only settle the issue of total income for eligibility to claim the rebate u/s 87A.

Waiver of loan amount cannot be brought to tax u / s . 4 1 ( 1 ) : ITAT Chennai PLR Textiles Ltd. Vs ACIT (ITAT Chennai)

ITAT Chennai held that waiver of amount of loan, whether principal or interest component, cannot be brought to tax under section 41(1) of the Income Tax Act. Accordingly, appeal of assessee allowed and addition directed to be deleted. Facts- The case of the assessee was reopened for the reason that the brought forward business loss for the A.Y.1999- 2000 was set off erroneously and waiver of loan was inadvertently deducted from prior income. AO passed an order u/s.143(3) r.w.s.147 of the Act on 30.12.2010 by adding the waiver of loan and treated as cessation of liability u/s.41(1) to the tune of Rs.2,39,57,911/- and also restricted the deduction of cost of acquisition of the sale of land and building to Rs.23,872/- instead of Rs.6.07 Crores as claimed by the assessee. CIT(A) upheld the action of AO. Being aggrieved, the present appeal is filed.

Conclusion- Held that the cost of acquisition of land and building recorded in the books of accounts of the assessee is to be considered for deduction from the sale consideration for computing the capital gain – Long term capital on land and short term capital gain on building as the depreciation has been claimed on building and accordingly we direct the AO to re-compute long term capital gain. Held that in the present facts and circumstances of the case the waiver of amount by the Bank of Ceylon to the tune of Rs.2,39,57,911/- whether it is principal, or interest component cannot be brought to tax u/s.41(1) of the Act. Thus, we direct the AO to delete the same by allowing the related grounds of appeal filed by the assessee.

The only impossible journey is the one you never begin.

Do you know what 1095 is?

Compiled by

By Mr. Tushar P. Joshi

You must be wondering what is the meaning of 1095? I will explain the same.

1095 = 365 days X 3times, if your average daily meal cost is 100 1, 09, 500/- is the annual cost for your food alone.

Are you prepared for your life after Retirement? Is your pension adequate?

Facts from a recent India Today Survey is as below.

90% – Do not have pension

50% – Widows are living alone without steady income

71% – Senior Citizens own just a house as an asset

68% – Repent that did not save enough for Retirement.

Will you be one of them?

5- False Assumptions people have

My kids will look after me in my retirement years.
My savings are enough for my retirement.
I have plenty of wealth
I won’t live long enough to go through agony
I don’t have to really save for my retirement now

Few Facts

Interest on savings and deposits have been reducing each year. Recently RBI has reduced the repo rate. In India interest rates are still highest but as we grow more, soon it will be like other countries as low as 1% or even – 75% as in countries like Switzerland. PPF, Senior citizen schemes, postal savings are negatively revised each year.

So how do I plan my retirement?

Plan Jeevan Akshay or Jeevan Shanti Plans today from your advisor & get Lifetime guaranteed returns for secured retirement.

Eg. RBI v/s LIC’s Jeevan Akshay

Year	RBI	LIC’s Jeevan Akshay
1990	14%	12% (Lifetime, Even today)
1995	13%	12% (Lifetime, Even today)
2000	12%	10% (Lifetime, Even today)
2006	10%	9% (Lifetime, Even today)
2015	6.7%	8% (Lifetime, Even today)
2025	6%	8 to 10% (Lifetime, if planned now)
2030	2%	8 to 10% (Lifetime, if planned now)
2040	1%	8 to 10% (Lifetime, if planned now)
2050	0%	8 to 10% (Lifetime, if planned now)

From the above table you can see the LIC is giving guaranteed returns for the life. So one can plan their retirement as per their need.

Don’t worry about getting old, worry about thinking old.

CIRCULAR FOR RENEWAL OF MEMBERSHIP/SUBSCRIPTION CHARGES FOR THE F.Y. 2025-26

Dear Members,

RENEWAL OF MEMBERSHIP FOR F.Y. 2025-26

The Membership Fees for the year 2025-26 are due for renewal on 01.04.2025. We appreciate your Continuing support and participation in the activities of our Association.

The timely Renewal of Membership will enable the members to continuously receive the updates on various activities of GSTPAM along with the GSTReview, News Bulletin, Circulars, Messages, Webinars and online access to the website www.gstpam.org. The Life Members only need to renew the subscription charges for the GST Review. The members can also avail the benefit of discount by paying advance for subsequent two years membership fees /subscriptioncharges.

The Membership Renewal Fees received after 30thApril, 2025 will be subject to approval of the Managing Committee. If the Renewal fees for a particular year are not paid, then the member is liable to pay Admission Fees again for Renewal in the subsequent year.

Delayed Renewal Members will be provided Pre Renewal GST Review subject to availability upon payment of such additional courier charges.

The details of Membership/Subscription Fees are given below for your ready reference

Type of Membership	Membership Fees incl. GST	Admission Fees Incl.GST	Subscription Charges for GST Review	Total
New Membership Application
Donor Member	2,36,000.00		800.00	2,36,800.00
Patron Member	1,77000.00		800.00	1,77,800.00
Life Member	11,800.00	1180.00	800.00	13,780.00
Life Member (Conversion from Ordinary)	11,800.00	590.00	800.00	13,190.00
Ordinary Local Member	2,006.00	590.00		2,596.00
Ordinary Outstation Member	1,711.00	590.00		2,301.00
Student Member	590.00	590.00		1,180.00

New Membership Application (Firm/LLP)

Ordinary Local Member	2,006.00	944.00	0	2,950.00
Ordinary Outstation Member	1,711.00	944.00	0	2,655.00

Advance Membership/ Subscription charges for subsequent Three years 2026-27 & 2028-29 (Non-Refundable)

Ordinary Local Member	5,428.00		5,428.00
Ordinary Outstation Member	4,602.00		4,602.00
Life Member (Individual/Firm/LLP)	0	2,400.00	2,400.00
Patron Member	0	2,400.00	2,400.00
Donor Member	0	2,400.00	2,400.00

Advance Membership/ Subscription charges for subsequent Five years (Non-Refundable)

Ordinary Local Member	8,968.00			8,968.00
Ordinary Outstation Member	7,670.00			7,670.00

Subscription for GST Review for F.Y. 2025-26 by Non-Members (Non-Refundable)

Subscription fees for GSTR

1,200.00

Advance subscription charges for GST Review by non-members for subsequent two years (Non-Refundable)

Subscription Fees -GSTR

2,400.00 2,400.00

Advance subscription charges for GST Review by non-members for subsequent Three years (Non-Refundable)

Subscription Fees -GSTR

3,600.00 3,600.00

Notes: –

Membership Fees are inclusive of GST.

The Subscription Charges are payable by only those life members, who wish to subscribe to the “GST Review”.

No subscription charges are payable by Ordinary Local/Outstation Member

Modes of Payment:-

Cheque	A/c Payee Cheque drawn in favor of “The Goods & Services Tax Practitioners’ Association of Maharashtra” payable at Mumbai.
NEFT Details	The Goods & Services Tax Practitioners’ Association of Maharashtra Bank of India, Mazgaon Branch Current Account No. 007020100001816, IFSC Code – BKID0000070.Online generated transaction Acknowledgement should be sent by email on [email protected] along with membership and payment details Members are requested to send their physical form to the association for Approval, Issuance and Office record.
Cash	Renewal form along with requisite amount will be accepted between 10.30 a.m. and 5.30 p.m. on all working days except Saturday at our Office at Mazgaon Library – Mazgoan: 1stFloor, 104, GST Bhavan, Mazgaon, Mumbai – 400 010 Or Bandra Library – GST Bhavan, Ground Floor, A Wing, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. Or Mazgaon Tower-8 & 9, Mazgaon Tower, 21, Mhatar Pakhadi Road, Mazgaon, Mumbai – 400 010.
Identity (New Members)	New Members should provide the following as Identity Proof : PAN, Aadhar Card, Constitution Document. Address Proof(any one) : Electricity Bill / Passport/ Aadhar Card / Driving License/ Voter id/ Ration Card along with Membership Form
Identity Card (For Renewals)	Ordinary Local/Outstation Members should provide Two Photographs along with the Renewal Form for issue of I- cards.
Online Payment Link	Members can make online payment on our website www.gstpam.org. Members are requested to download Members Renewal form from website. Update the latest details in the form, scan it and mail at [email protected] Payment Link: https://www.gstpam.org/online/renew-membership.php If you are login first time? Click here for create your password

We value your continuation of the membership and look forward to your renewal to this effect.

Dated:- 10.03.2025

Jatin Chheda

Rahul Thakar

Hon. Jt.Secretary

Guidance Cell Email ID for queries

Members can send their queries at [email protected]

THE GOODS & SERVICES TAX PRACTITIONERS’ ASSOCIATION OF MAHARASHTRA INTENSIVE STUDY COURSE CIRCULAR FOR THE YEAR 2024-25

In the rapidly changing field of Goods & Services Tax (GST), where new updates, amendments, notifications and circulars are a constant, staying informed is essential. The complexity of GST requires the tax professionals to continually refresh and deepen our understanding to apply the law effectively.

Our association’s Intensive Study Circle is an esteemed platform designed to help members navigate these challenges. Through in-depth discussions and interactive sessions, participants gain critical insights and practical knowledge that are indispensable in today’s dynamic professional landscape.

We are excited to launch the 2024-25 session on Wednesday, September 4, 2024. We invite you to join this highly anticipated event, where we will explore various facets of GST law, sharing expertise and practical solutions to real world issues.

The intensive study circle is designed for maximum interaction wherein, a participant member can opt for or an expert speaker acts as a group leader and leads the discussion on the latest issues arising out of the assigned topic and some of the top eminent faculty and senior in the profession acts as a monitor and guide through out the duration of the session. The meetings will be generally arranged on 1st, 3rd or 5th Friday of the month, during 04.30 p.m. to 7.00 p.m. on virtual mode. There are around 15 meetings in the Intensive Study Circle.

The inaugural meeting of the Intensive Study Circle shall be held on Wednesday, 04-09-2024 between 04.30 p.m. to 7.00 p.m. Virtual mode on the subject “ISD (Input Service Distribution) vs CC (Cross Charge). ISD Mechanism made compulsory from 1 Apr 2025 under GST – Indepth Analysis “. The topic will be lead by Adv. Monarch Bhatt under the Chairmanship of CA Vikram Mehta. Please note all other sessions will be carried out on virtual platform. The Intensive Study Circle Meeting Fee is fixed at Rs. 1,650/- including GST for Members and 1850/- including GST for Non members. You are requested to enroll at the earliest to avoid disappointment. Kindly use photocopy of the Enrolment form printed here in below. Also write your email address and mobile number for better communication.

Member interested to act as group leader should inform by filling up the option in the Form of “I wish to be a group leader for the subject” and are requested to contact the Convenor/s on Cell No. 98211 21433/9224386682/9821441740/9892512345

Note:

GST lectures will be in form of group discussion, which will be helpful to study the new law.
If the materials are received 3 days earlier to the date of meeting, the same will be circulated through mails to the participants.
Participants are requested to discuss only the points related to the particular topic of the meeting and to come prepared for the subject, which will be helpful for the discussion.

Mahesh Madkholkar
President

Deepak Thakkar
Chairman

Dilip Nathani
Convenor

9821121433

Hiral Shah

9224386682

Sanjay Gajra
Jt. Convenors

9821441740

Sujoy Mehta

9892512345

ENROLMENT FORM FOR INTENSIVE STUDY CIRCLE MEETINGS FOR THE YEAR 2024- 25

To,

Convener,

Intensive Study Course

The GSTPAM, Mazgaon, Mumbai – 400 010.

Dear Sir,

Please enroll me as a participant for the Intensive Study Course for the year 2024-25 The Registration fees of Rs.1,650/ – (for members)/ and Rs.1,850/ – (for non-members) 18% Including GST is enclosed herewith by Cash /DD/ Cheque No. dated drawn on _

Particulars of Member/Participant :

Name:

Educational Qualification:

Address for Communication:

Telephone No. Office : Res. _

Email ID: Mob. No, _

GSTPAM Membership No:

GSTIN (if Applicable):

Ialso wish to be a group leader for the subject of and suitable available date

will be:

I would like to attend the Meeting (Please Tick only one option)

Only Physical Mode

Only Virtual Mode

The Physical mode will be continued only if majority participants opt for the Physical Mode Signature

Note:-

Please issue the Cheque in favour of “The Goods & Services Tax Practitioners’ Association of Maharashtra” (FULL NAME IS REQUIRED TO BE STATED ON THE CHEQUE AS PER RBI DIRECTION).
For NEFT payment – Bank of India, Mazgaon- Account No. 007020100001816, IFSC – BKID0000070. Acknowledgement generated through online transaction should be emailed on [email protected] along with Enrolment Form and payment details.
Online Payment Link: https:/ /www.gstpam.org/online/event-registration.php
Outstation members are requested to make payment online payment.
The enrollment form along with payment proof should be submitted at Room No. 104, Vikrikar Bhavan,Mazgaon,Mumbai-400010.
Kindly carry the receipt of payment to attend the Lecture.
The Association reserves the right to change and alter the schedule if required.

INVITATION OF NOMINATIONS

Election Committee:

Chief Election Officer:

Shri J. D. Rawal

Members:

Shri Ramesh Gandhi

Shri Ashvin Acharya

Shri Pradip Kapadia

Shri. Mayur Parekh

Shri. Shashank Dhond

Shri. Pravin Shinde

Invitee:

Shri Mahesh Madkholkar President

(For the posts of office Bearers and Members of the Managing Committee for the year 2025-2026)

Pursuant to the appointment of the Election Committee made by the Managing Committee of the GSTPAM as provided in Article 17(1) of the Constitution of the Association and in exercise of the powers conferred under Article 17(2), to the Election Committee, Nominations are hereby invited from the members of the Association, eligible to contest as per Article 17(3), 17(3A) and Article 17(19) of the Constitution, for the following posts for the year 2025-26:

(1) One President

(2) One Vice-President

(3) One Hon. Treasurer

(4) Two Hon. Jt. Secretaries

(5) Fifteen members of the Managing Committee

(1) The Nomination Forms for the above posts can be procured from the office of the Association or from the GSTPAM Library at Mazgaon or it can also be downloaded from the GSTPAM website i.e. www.gstpam.org.

(2) The Nomination Form along with the payment of applicable Nomination Fees should reach the office of the Association at Mazgaon Tower not later than 5.00 p.m. on Wednesday, 18.06.2025 as per article 17(2) r/w 17(19) of the Constitution. No Nomination Form shall be accepted on the last day; i.e. on Wednesday, 18.06.2025 at Library at GST Bhavan, Mazgaon, Mumbai-400 010.

(3) The Nomination Form along with details of payment of applicable Nomination Fees can also be submitted through an Email as explained in Note No. 14 of this Circular by the prescribed day and time as mentioned in Note No. 2 of this Circular

(4) Payment of Nomination Fess [Article 17(19)]:

Any Member filing the Nomination Form shall pay following Nomination Fees along with Nomination Form:

Post:	Nomination Fees (Including GST)
(I) For the Post of Managing Committee Members	Rs. 3,540/-
(ii) For the Post of Office Bearers	Rs. 5,900/-

(5) Any member of the Association who is not in arrears of fees and whose delay in payment of fees has been condoned by the Managing Committee on or before the date of filing of his / her Nomination Form, shall be eligible to file the Nomination, subject to the provision of Article 17(3) and 17(3A) and 17(19) of the Constitution which is reproduced herein below at point No. (13).

(6) The Nomination should be proposed by one member and seconded by another member of the Association (other than the members of the Election Committee), who are not in arrears of membership fees and whose delay, if any, in payment of membership fees has been condoned by the Managing Committee on or before the date of filing of such Nomination Form, as per provision of Article 17 (4) of the Constitution.

(7) No member shall contest for more than one post as per Article 17(5) of the Constitution.

(8) As per Article 17(6) of the Constitution, a contestant shall be entitled to withdraw his / her nomination if he / she so wishes on or before Saturday, 21.06.2025 up to 5.00 p.m. Intimation of Withdrawal Form may be done through the candidate’s e-mail ID which he / she had provided in his / her Nomination Form to the Association’s newly created ID for the purpose of election i.e. [email protected]. However, if any candidate wishes to withdraw his / her Nomination Form by submitting it physically he / she can do so by submitting the same at Mazgaon Library or at the Association’s Office at the address herein mentioned before by Friday, 20.06.2025 up to 5.00 p.m. Please note that physical withdrawal of Nomination Form shall be accepted at the Mazgaon Library only up to Friday, 20.06.2025 and thereafter on Saturday, 21.06.2025, the withdrawal Form shall be accepted only at GSTPAM Office at Mazgaon Tower up to 5.00 p.m.

(9) In the event of the any such member voluntarily withdraws his/her nomination within the prescribed date and time by the Election Committee, the Nomination Fees so paid shall be refunded to such person as per the provision of Article 17(19) of the Constitution.

(10) Election shall be conducted as per Article 17 of the Constitution. Attention of the candidates is invited to Clause 15A inserted in Article 17, whereby a contestant, who desires recounting of votes, shall ask in writing for recounting of votes within 15 minutes from the time of declaration of election results by the Chief Election Officer.

(11) Election at Mumbai shall be conducted between 11.00 a.m. to 5.00 p.m. on Friday, 18.07.2025 at the GSTPAM, Library, Room No. 104, 1st Floor GST Bhavan, Mazgaon, Mumbai-400 010.

(12) Election at District places shall take place on Monday, 14.07.2025 as per schedule given here in below

(13) ELECTION RULES:

(i) Article 17 (3): Any member of the Association who is not in arrears of annual membership fees and/or of Additional Membership Fees of the Association on the date of filing of nomination and whose delay in paying such fee is condoned by the Managing Committee on or before the date of filing of nomination shall be eligible to file nomination for a post of the office bearer or a member of the managing committee.

Provided that a Member of the Association shall be eligible to file the Nomination Form for following posts subject to the fulfilment of the criteria mentioned against each post in the Table given herein below:

Post	Eligibility Criteria for filing the Nomination Form
Managing Committee Member	Eligible only if the Applicant has been a Member of the Association for at least two consecutive years (24 months from the date of admission) on the date of filing Nomination Form.
Hon. Jt. Secretary or Hon. Treasurer	Eligible only if the Applicant has been a Member of the Managing Committee for a period of at least two years.
Vice-President	Eligible only if the Applicant has held the position as an Office Bearer of the Association for a period of at least two years.
President	Eligible only if the Applicant has held the position as an Office Bearer of the Association for a period of at least two years.

(ii) Article 17 (3A):

Post	Additional Eligibility Criteria for filing the Nomination
Managing Committee Member afresh.	Eligible only if the Applicant has physically attended 6 study circle meetings within 12 months immediately preceding the date of Application
Managing Committee Member of the preceding term filing nomination for the next term.	Eligible only if the Applicant has physically attended 50% or 6 Study Circle meetings whichever is less, within 12 months immediately preceding the date of Application and physically attended 6 Managing committee meetings during the preceding term before the date of Application.
Hon Jt. Secretary, Hon. Treasurer, Vice President and President.	Eligible only if the Applicant has physically attended 50% or 6 Study Circle meetings whichever is less, within 12 months immediately preceding the date of Application and physically attended 6 Managing committee meetings during the preceding term before the date of Application.

(14) Procedure to submit Election Nomination Form through an E-mail:

Subject to Note No. (2), (4) and (5) of this circular, the Nomination Form may be filled up and signed by the contestant, proposer and seconder and should be scanned and the same should be sent along with the proof of payment of Nomination Fees through the E-mail ID of the contestant mentioned by the candidate as mentioned in the Nomination Form as per Article 17(6) of the Constitution to the email Id of the Election Committee at [email protected]

(15) In case of any Covid-19 like wave or any force majeure, the election committee is authorized to change or modify any of the directions related to the such election and decision of the Election Committee shall be binding on all.

Any such decision shall be informed to all the members either through Email/Whatsapp/GSTPAM website/ GST Review/GSTPAM News Bulletin etc.

16. Outstation Election Centers:

Sr.No.	Election Centre at Outstation Place-as per Article 17A	Time
1	Dhule	11.00 A.M. to 02.00 P.M.
2	Jalgaon	11.00 A.M. to 02.00 P.M.
3	Kolhapur	11.00 A.M. to 02.00 P.M.
4	Nagpur	01.00 P.M. to 04.00 P.M.
5	Nashik	02.00 P.M. to 05.00 P.M.
6	Pune	11.00 A.M. to 02.00 P.M.
7	Aurangabad	11.00 A.M. to 02.00 P.M.
8	Sangli	11.00 A.M. to 02.00 P.M.
9	Solapur	11.00 A.M. to 02.00 P.M.
10	Thane	02.00 P.M. to 05.00 P.M.
11	Sindhudurg	02.00 P.M. to 05.00 P.M.

(17) GSTPAM Bank Details:

The Payment shall be made by any A/c Payee Cheque/DD/NEFT etc.

Name of Beneficiary: – “The Goods and Services Tax Practitioners’ Association of Maharashtra”

Bank Name: – Bank of India Branch: – Mazgaon

Account Number: – 007020100001816 Type of Account: – Current A/c

IFSC Code: – BKID0000070

QR Code for UPI Payments:

For and on behalf of the Election Committee-GSTPAM

Place: Mumbai- 400 010

Dated: 11th April, 2025.

Shri J. D. Rawal

Chief Election Officer

74th ANNUAL GENERAL MEETING

NOTICE TO MEMBERS

NOTICE is hereby given to all the members of the Association that the 74th ANNUAL GENERAL MEETING of the Association will be held on Friday, 18th July, 2025 at 5.00 p.m. at the GSTPAM Association Library Hall, Room. No. 104, 1st Floor, GST Bhavan, Mazgaon, Mumbai– 400010, to consider the following agenda:—

To read and confirm the minutes of the last Annual General Meeting held on 19thJuly,2024.
To receive and adopt the Audited Statement of Accounts of the Association, ‘Sales Tax /GST Review’ and ‘Books and Bulletin’ for the year ended 31.03.2025 and the Balance Sheet as on that date and to receive and adopt the Annual Report of the Managing Committee for the year 2024-25 (A copy of the report and accounts would be sent separately)
To appoint an Auditor for the year ending 31.03.2026 and fix his honorarium.
To receive the report of the Chief Election Officer and declare the result of the Election.
To transact any other business that may be brought with the permission of the Chair.

Place: Mumbai

Dated: 11th April, 2025

Jatin Chheda / Rahul Thakar

Hon.Jt.Secretaries

Notes:

In case there is any change the same would be communicated to all the members.
As per Article 13 of the Constitution of the GSTPAM, if the required quorum i.e. 40 members present in person is not there, the meeting shall stand adjourned and the adjourned meeting shall be held after lapse of half an hour from the appointed time at the same venue only to consider the items on the agenda circulated in the notice convening the meeting. Such adjourned meeting shall be deemed to be valid meeting with the members present forming the quorum and no other business than the one circulated shall be transacted at such adjourned meeting.
Any member desiring to seek any information on the Accounts may do so at least 3 days in advance in writing so as to enable the committee to reply to the same to the satisfaction of the member concerned.
Resolution: Any member desiring to move any resolution, other than alterations in the Articles of the Constitution of The Goods & Services Tax Practitioners’ Association of Maharashtra, in the General Meeting, should send the same duly proposed by a member and seconded by another member so as to reach the ofce of Association, latest by 13th June, 2025.

PRIZE DISTRIBUTION TO THE CHILDREN OF THE MEMBERS OF OUR ASSOCIATION WHO HAVE OBTAINED HIGHEST PERCENTAGE FOR THE ACADEMIC YEAR 2024-25

To recognize efforts and hardwork put in by children of our members, GSTPAM has instituted specific funds received from our members to reward the said children.

The following cash prizes are to be awarded to the children of the members of our association who have obtained highest percentage of marks at the following subject or examinations held in the academic year 2024-25

1. POURANA MEMORIAL PRIZE

(For securing the highest percentage of marks at the B. Com Examination)

2. GALA & GALA PRIZE

(For securing the highest percentage of marks in paper of Accountancy paper at the B. Com. Examination)

3. SHRI VADILAL C. SHAH PRIZE

(For securing highest percentage of marks at the H. S. C. Examination)

4. M/S.CHHAJED & DOSHI PRIZE

(For securing highest percentage of marks at the S.S.C. Examination.)

5. LATE SMT. BHANUBEN H. VORA PRIZE

(For securing highest percentage of marks at the M.Com. Examination)

6. MR. BHARAT D. VASANI PRIZE

(For passing C.A. Final Exam)

The members are therefore requested to send the Scan copies of the Mark sheet stating the percentage of marks obtained by their children at the Examination or subject as stated above on or before 1st July, 2025 on following email ID– [email protected]

Our members have an option to subscribe to our monthly academic magazine, “GST Review”, which is one of the oldest monthly publications on indirect tax laws in the Country. You get access to indepth articles, analysis and updates on all aspects of indirect tax laws by veteran experts. Latest notifications and circulars are also printed in the same for the benefit of the subscribers.

For the benefit of our readers we are reproducing the index of the topics covered in the last month. Subscription form is available in this News bulletin. Please take this opportunity and become our member and subscribe to the GST Review.

Contents Vol. 7 No. 9 | Mumbai | May, 2025

Topic	Writer	Page No.
Part – I
Editorial	Mayur R. Parekh	5
From the President	Mahesh Madkholkar	8
Roving Eye	D. H. Joshi	10
GST Updates	Deepali Mehta	13
Towards 75th Year – Glorious Journey of GSTPAM Looking Back….. Looking Forward…..	P. C. Joshi	18
Blessings	S. S. Gaitonde	20
Taxability of Real Estate Transaction – Part-1
GST Implications in Redevelopment of Housing Society – An Analysis	Rajiv Luthia	22
GST on Development of Freehold Land and Builder & Developers under Area Sharing & Revenue Sharing Model	Dinesh M Tambde	35
GST Implications on Self-Redevelopment	Keval Shah	41
Analysing the Applicability of GST on Bonuses by Online Money Gaming Companies	Ratan Samal & Manohar Samal	54
Brief note on the Judgment in Indian Medical Association: Sec.7(1)(AA) Struck Down	Anilkumar Shah	57
Financial Reporting for Non-Corporate Entities: A Shift Towards Greater Transparency	Hiten Shah	62
Applicability of Section 50C on MIDC Properties – A Legal and Practical Dilemma	Nikunj Rungta	69
Benefit of amended Rule 89(5) as per Notification No.14/2022 dated 05.07.2022 is applicable to all refund claims filed before or after 05.07.2022	Pranav Mehta	71
ए आय चा वापर समजदारांनीच करावा	Kishor Lulla	76
Updates on Real Estate (Regulations & Development) Act, 2016	Ashwin Shah	78
Service Tax Updates	Vasudev Mehta	80
Income Tax Update – Highlights on Recent Amendments	Sonakshi Jhunjhunwala & Sunil Jhunjhunwala	83
Do You Know?	Moti B. Totlani	87
Speaker’s Forum	D. J. Ruparelia Ashish Ruparelia	89
Association News	Jatiin N. Chheda & Rahul Thakar	96
Part – II
From the Courts	Dhaval Talati	107
Gist of Advance Rulings	Ashit Shah	109
Part – III
Recent Amendments – Notifications/Trade Circulars
Notification No. 11/2025—State Tax dated the 6th May, 2025.		115
Instruction No. 03/2025-GST, New Delhi, dated 17th April, 2025 F. No. CBIC- 20016/24/2025-GST		116
Instruction No. 04/2025-GST, New Delhi, dated 2nd May, 2025 – F. No. CBIC- 20016/24/2025-GST		120
Instruction No. 05/2025-GST, Room No. 159-A, North Block, New Delhi. Dated 2nd May, 2025 – F. No. CBIC-20015/2/2025-GST		121
Attention – Advisory on reporting values in Table 3.2 of GSTR-3B		122
Updates in Refund Filing Process for Recipients of Deemed Export		123
Updates in Refund Filing Process for various refund categories-Reg		123
Invoice-wise Reporting Functionality in Form GSTR-7 on portal-reg		124
Ireporting of HSN codes in Table 12 and list of documents in table 13 of GSTR-1/1A		124
Announcements
Announcement For New Membership, Renewal of Membership & Subscription For Year 2025-26		Page 100
Invitation of Nominations		Page 101
74th Annual General Meeting		Page 105
Prize Distribution to the children of the Members of our Association who have obtained Highest Percentage for the Academic Year 2024-25		Page 106

“Wishing our members a very HAPPY BIRTHDAY!!”

Members Name	Date of Birth
Gaud Shubham Dilip	11- June
Jain Nihalchand Jayprakash	11- June
Vichare Bhalchandra Vasant	11- June
Gadhia Kavita Jayantilal	11- June
Jain Devendra Hastimal	11- June
Patil Amar Ramchandra	11- June
Rathi Rahul Dinesh	12- June
Samal Manohar Ratan	12- June
Sawant Vinod Laxman	12- June
Soni Niki Suresh	13- June
Suterwala Aliraza Safakhat	13- June
Modi Sunil Jayantilal	14- June
Shah Vijay H	14- June
Shetty Nagesh Ponkra	14- June
Gandhi Mukesh P.	14- June
Bajaria Bharat J.	14- June
Parekh Chirag S.	14- June
Mathekar Manoj Damodar	15- June
Erra Srinivas Hari	15- June
Bohra Mazhar Ali	15- June
Parthasarathy C K	15- June
Pathan Tahirkhan Ashrafkhan	15- June
Katwala Krunal Bhupendra	15- June
Memon Munaf Iqbal	15- June
Sonawane Rajendra Ratan	16- June
Shaikh Mushiroddin Muneeroddin	16- June
Nirhali Dhananjay Vijay	16- June
Bhatt Monarch Mahendra	17- June
Sonawani Sunil K.	17- June
Limaye Prashant Shankar	17- June
Marfatia Jayesh Vipin	18- June
Shah Pruthviraj Chandulal	18- June
Akali Rajratansingh H.	18- June

Members Name	Date of Birth
Shah Dharmesh Yogesh	18- June
Shaikh Raziya Ebrahim	19- June
Kapadia Pranav P.	19- June
Bhamare Rahul Vijay	20- June
Dhariya Pradeep Mohan	20- June
Wani Rajesh Govind	20- June
Chawda Viral Paresh	21- June
Parmar R. S	21- June
Ruwala Ajit Ramanlal	21- June
Parikh Nimish Dashrathlal	21- June
Shetty Vijay Shekhar	21- June
Konasirasgi Sanjeevkumar Sadashiv	22- June
Nalawade Vinod Ganpatrao	22- June
Doshi B. A	22- June
Gala Navin Ratanshi	22- June
Thole Anil H.	22- June
Pore Rahul Ramchandra	22- June
Shah Hemang K	22- June
Patil Vikas Vasantrao	22- June
Rajani Pritesh Jethalal	22- June
Shekhawat Kuldeesingh Vijendrasingh	23- June
Chaudhari Prasad Hari	23- June
Vedang Parvindar Singh Baldev	24- June
Parekh Kamlesh M	24- June
Dedhia Shailesh Premji	24- June
Chiplunkar Prashant Mahadeo	24- June
Jain Sonu Surendra	24- June
Shaikh Sameer Dastgir	25- June
Somaiya Bharat D.	25- June
Parmar Paresh Chunilal	25- June
Gosavi Ashish Satish	25- June
Deshmukh Adil Manzur	26- June
Chotai Nikunj Rajesh	26- June

Members Name	Date of Birth
Shridhar Sandeep Hansraj	27- June
Momaya Afzal Ahmed	27- June
Jindal Tripti	27- June
Arora Arvind	28- June
Shah Sunil Girdharlal	28- June
Choudhari Sachin Triambakrao	28- June
Patkar Nishad Umesh	28- June
Patkar Vinaya Vinayak	29- June
Paliwal Garvit Ghanshyam	29- June
Pange Sonal Ravindra	29- June
Joshi Ramesh Gurunath	30- June
Desai Amit Narendra	30- June
Desai Tushar S.	30- June
Motwani Rajkumar Jhamandas	01- July
Gunukula Hanumantharao Rao	01- July
Nachankar Ulhas Yashavant	01- July
Sahu Somnath Juri	01- July
Shah Kamlesh Babulal	01- July
Irpachi Devidas Madhao	01- July
Siddiqui Mumtaz A.	01- July
Golchha Javrichand Pukhraj	01- July
Badgude Pradip Sudhakar	01- July
Chitalikar Manojkumar Sharad	01- July
Pandit Santosh S.	01- July
Vaishnav Suresh Bherudas	01- July
Pal Shailesh Pratapbahadur	01- July
Nikam Sanjay	01- July
Soni Sangeeta Kamlesh Kumar	01- July
Swain Sujata	01- July
Chipade Shrikant Vivekanand	01- July
Mandge Eshwar Kashinath	01- July
Suthar Laxman	01- July
Phadtare Jayesh Sopan	01- July
Mundhra Mehul Mahavirprasad	01- July

Members Name	Date of Birth
Kanungo Milapchand M.	02- July
Kulkarni Suhas Laxmikant	02- July
Anchaliya Suresh Shantilal	02- July
Gade Nandesh Krishna	02- July
Lohiya Satyanarayan Chaganlal	03- July
Patil Ashok Pundlik	03- July
Shivnani Raj Mohanlal	03- July
Karve Uday Madhusudan	03- July
Surve Aarti Rajesh	03- July
Gond Mintoo Rajaram	03- July
Jain Vicky Rameshkumar	03- July
Shaha Sneha Sagar	03- July
Agarwal Bhanwarlal Shankarlal	04- July
Nagda Jambukumar Bhanwarlal	04- July
Fulia Jitendra Damji	04- July
Prajapati Umesh Govindji	04- July
Durugkar Mohsin Anis	04- July
Shah Pratik Rajendra	04- July
Khan Mohsin Khan Aslam	04- July
Bagadia Ajit S.	05- July
Choudhary Radheyshyam R	05- July
Manghnani Ashok Kumar Mohanlal	05- July
Zota Hemesh Aeventilal	05- July
Shaha Prashant Himatlal	05- July
Sasane Kunal Dilip	05- July
Choudhary Bhagraj Ramlal	05- July
Shah Arvind M.	06- July
Nayak Prabhakar Vasudev	06- July
Zanwar Dilip Vitthaldas	06- July
Bhawar Chandrakant Dnyaneshwar	06- July
Shetye Sandesh Sakharam	06- July
Jain Yashveer Rajkumar	06- July
Kabra G. R.	07- July
Dhanuka Kamal V.	07- July

Members Name	Date of Birth
Jain Tarun J	07- July
Karale Jitendra P.	07- July
Laddha Vivek	07- July
Shaikh Abdulkarim Abdulwahab	07- July
Sonje Akshay Ganesh	07- July
Agarwal Narendra Kishinchand	08- July
Bhandari Ashok G.	08- July
Navagrah Rajendra Vinayak	08- July
Pande Pankaaj M.	08- July
Shirke Dhananjay Janardan	08- July
More Sanjay K.	08- July
Chavan Sandip Vishram	08- July

Members Name	Date of Birth
Shah Akshay Rajendra	08- July
Chhallani Badalchand L	09- July
Kelkar Sanjay Mukund	09- July
Dongre Shivkumar Chandrashekhar	09- July
Chadha Kapil Kumar	09- July
Taral Vineet Madhukar	09- July
Jain Ramesh Bakhtawar Mal	10- July
Puranik Atul Krishnarao	10- July
Satuluri Kalyan Kumar	10- July
Mathuria Mihir Vijaykumar	10- July
Bhutak Dipesh Karamshi	10- July
Nankani J. D.	10- July

The world is changed by your example not by your opinion

Sr. No.	Name	Price
1	FMCG & Pharmaceutical Industry – GST Issues & Challenges	150/-
2	Mega Full Day Seminar Booklet 6.5.2023	120/-
3	Short Publication GST practical guides (5 Book Series)	555/-
4	47th RRC Lucknow Booklet	250/-
5	Mega Full Day Seminar Booklet 9.2.2024	150/-
6	48th RRC Book	250/-
7	Mega Full Day Seminar Booklet 6. 7.2024	130/-
8	Half Day Seminar Booklet 22.11.2024	100/-
9	Writ Remedies Under Indian Constitution	150/-

Payment Link for Publication on sale :https://www.gstpam.org/online/purchase-publication.php

GSTPAM News Bulletin Committee for Year 2024-25

Mahesh Madkholkar President

Pankaj Parekh Chairman

Aloke R. Singh Convenor

Ashish Ruparelia Jt. Convenor