Dear Readers,

During the month of August 2025 our CEO, Mr. Raghu Marwah was invited as a Speaker at the World Forum “New Era-New Ways” in Moscow, Russia organized by the International Organisation for Eurasian Cooperation. The event had over 1000 delegates from 50 participating countries with persons from industry, government, professionals and diplomats exchanging views. The presentations on India-Russian friendship and International Logistics given by Mr. Raghu Marwah was met by applause and followed by a very good Q&A session.

On the Direct Tax side, the new Income Tax Act, 2025 was notified on August 22, 2025. Amongst other changes, the new Act substantially increases the tax-free perquisites from Rs 50,000 to Rs 400,000 and the overseas medical treatment proviso from Rs 200,000 to Rs. 800,000 effective from current financial year 2025-26. In our view, this is a major boost to salaried class and will directly impact your financial health.   

On the Indirect Tax Side, the Honorable Prime Minister had announced major changes in GST from the ramparts of Red Fort as part of his Independence Day speech. The 56th GST Council Meet expected to be held on 3-4 September is likely to formalize the relief announced, which includes major reduction in rates on most items. 

On the Assurance Side, the ICAI has issued a new Technical Guide on Accounting for CSR Expenditure in July 2025 which provides detailed instructions for the recognition, measurement and disclosure of CSR expense in the financial statements 

We would like to take this opportunity of wishing all our readers best wishes for Ganesh Chaturthi on 27 August. On this day we celebrate the remover of obstacles, the god of wisdom and the patron of new beginings.