Tax Updates posters list
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| Appl Date | Subject | Details | Hindi Details | Period | Link |
|---|---|---|---|---|---|
| 2025-04-18 | CBIC Issues Clarified Guidelines for Processing GST Registration Applications | Instruction No. 03/2025-GST dated 17th April 2025, issued by CBIC, provides updated and uniform guidelines for officers processing GST registration applications. It aims to prevent undue harassment of genuine applicants while curbing fraudulent registrations.
Officers are directed to seek only prescribed documents listed in Form GST REG-01 and avoid unnecessary or presumptive queries. Clear instructions are given for owned, rented, shared, or SEZ premises, as well as business constitution documents. Timelines for approval or rejection are reiterated, and strict disciplinary action is advised against deviations from these instructions. | जल्द आ रहा है | ||
| 2025-04-11 | Phase-III Implementation of Table-12 in GSTR-1 and GSTR-1A Begins April 2025 | As per GSTNs advisory dated 11th April 2025, Phase-III changes in Table-12 of GSTR-1 and GSTR-1A will apply from the April 2025 tax period. Table-12 is now split into B2B and B2C sections, requiring HSN-wise summary reporting in separate tables. Manual entry of HSN codes is discontinued taxpayers must select HSN from a system-generated dropdown. These changes aim to standardize reporting and reduce errors. Taxpayers are advised to refer to the detailed advisory dated 22nd January 2025 available on the GST portal for full implementation guidelines. | जल्द आ रहा है | ||
| 2025-04-11 | Auto Populated Table 3.2 in GSTR 3B Now Non Editable from April 2025 | GSTN has issued an advisory dated 11th April 2025 regarding Table 3.2 of GSTR-3B, which reports inter-state supplies to unregistered persons, composition taxpayers, and UIN holders. From the April 2025 tax period, values in this table will be auto-populated and non-editable, based on GSTR-1, GSTR-1A, or IFF. Any correction must be done through amendments in GSTR-1 or GSTR-1A before filing GSTR-3B. Accurate reporting in these forms is crucial to ensure correct values in GSTR-3B. This change aims to improve consistency and reduce mismatches in return filings. | जल्द आ रहा है | ||
| 2025-04-11 | Phase-III Implementation of Table-12 in GSTR-1 and GSTR-1A Begins April 2025 | As per GSTNs advisory dated 11th April 2025, Phase-III changes in Table-12 of GSTR-1 and GSTR-1A will apply from the April 2025 tax period. Table-12 is now split into B2B and B2C sections, requiring HSN-wise summary reporting in separate tables. Manual entry of HSN codes is discontinued taxpayers must select HSN from a system-generated dropdown. These changes aim to standardize reporting and reduce errors. Taxpayers are advised to refer to the detailed advisory dated 22nd January 2025 available on the GST portal for full implementation guidelines. | जल्द आ रहा है | ||
| 2025-04-10 | Guidelines for Rightful Claim of Income Tax Refunds | The Income Tax Department has issued detailed guidelines to help taxpayers claim refunds correctly while filing Income Tax Returns (ITR). It stresses the importance of entering accurate income details, taxes paid (including TDS and advance tax), and valid bank account information.
Taxpayers are advised to reconcile their ITR with Form 26AS, AIS, and TIS to prevent mismatches. Common causes of refund delays-such as errors in data, non-verification, or pending responses-are also highlighted. The department urges regular tracking of refund status and timely replies to any compliance notices. | जल्द आ रहा है | ||
| 2025-04-10 | Notification of HUDCO Bonds as Long-Term Specified Asset under Section 54EC | Notification No. 31/2025 (S.O. 1644(E)) dated 7th April 2025 declares that bonds issued on or after 1st April 2025 by Housing and Urban Development Corporation Limited (HUDCO) are notified as long-term specified assets under section 54EC of the Income-tax Act, 1961.
These bonds must be redeemable after five years. HUDCO is authorized to use the proceeds only for infrastructure projects that can repay debt from project revenues without State Government dependency. The notification defines infrastructure as per updated harmonised master list guidelines issued by the Department of Economic Affairs. This provides tax exemption benefits for capital gains reinvestment. | जल्द आ रहा है | ||
| 2025-04-09 | Deadline Declared for Filing Under Direct Tax Vivad se Vishwas Scheme, 2024 | Notification No. 32/2025 (S.O. 1650(E)) dated 8th April 2025, issued under section 89 of the Finance (No. 2) Act, 2024, specifies that declarations under the Direct Tax Vivad se Vishwas Scheme, 2024 must be filed on or before 30th April 2025.
The declaration, pertaining to tax arrears, must be submitted to the designated authority in line with section 90 of the said Act. This notification formalizes the last date for availing benefits under the scheme aimed at resolving direct tax disputes, providing taxpayers with a clear compliance timeline and encouraging early resolution of pending cases. | जल्द आ रहा है | ||
| 2025-04-05 | GSTN Announces Case-Insensitive Treatment for Invoice Numbers in IRN Generation | As per the GSTN advisory dated 4th April 2025, effective 1st June 2025, invoice/document numbers will be treated as case-insensitive for IRN (Invoice Reference Number) generation through the Invoice Reporting Portal (IRP).
This means variations like "abc", "ABC", or "Abc" will be considered identical, and all invoice numbers will be automatically converted to uppercase during IRN creation. The move aligns IRN generation with existing GSTR-1 treatment to prevent duplication and ensure uniformity. Taxpayers are advised to adapt their systems accordingly to avoid mismatches. For clarifications, users may contact the GST helpdesk. | जल्द आ रहा है | ||
| 2025-04-04 | Deadline Announced for Aadhaar Linking by PAN Holders with Enrolment ID | Notification No. 26/2025 (S.O. 1605(E)) dated 3rd April 2025 mandates that individuals who received their PAN based on an Aadhaar Enrolment ID (application form filed before 1st October 2024) must inform their Aadhaar number to the Income-tax Department.
This intimation must be made to the Principal Director General or Director General of Income-tax (Systems), or an authorized person, on or before 31st December 2025. The aim is to ensure proper identification and compliance under Section 139AA(2A) of the Income-tax Act, 1961. Failure to comply may result in consequences as prescribed by the Central Board of Direct Taxes (CBDT). | जल्द आ रहा है | ||
| 2025-03-29 | Finance Bill 2025 Passed and Signed by President | The Finance Bill 2025 has been passed by both houses of Parliament and has received the Presidents assent.
With this, all budget proposals for the financial year, including tax changes and compliance updates, are now officially law. Tax professionals and taxpayers should review the new provisions and prepare for implementation. | जल्द आ रहा है | ||
| 2025-03-29 | Key Amendments to Tax Audit Report Form 3CD under Income-tax Rules | Notification G.S.R. 207(E) dated 28th March 2025 introduces significant amendments to Form 3CD under the Income-tax (Eighth Amendment) Rules, 2025, effective from 1st April 2025. Key changes include the insertion of clause 44BBC, removal of deductions under sections 32AC, 32AD, 35AC, and 35CCB, and new reporting for MSME dues under section 15 of the MSMED Act.
Additional disclosure is required for expenditure on legal contraventions, buyback of shares, and restructured loan/deposit classifications. A dropdown-based coding system is added for tracking the nature of loan receipts and repayments, improving audit trail clarity and ensuring better statutory reporting. | जल्द आ रहा है | ||
| 2025-03-28 | Clarifications on GST Rates and TDS Provisions for Specific Goods, Services, and Partner | Circular No. 247/04/2025-GST dated 14th February 2025 clarifies GST rates and classifications based on the 55th GST Council meeting. It covers pepper (genus Piper), raisins supplied by agriculturists, ready-to-eat popcorn, fly ash-based AAC blocks, and the effective date for compensation cess on specific motor vehicles.
Separately, Notification G.S.R. 195(E) dated 27th March 2025 introduces the Income-tax (Seventh Amendment) Rules, 2025, inserting Rule 194T for TDS on payments like salary, commission, bonus, or interest to firm partners. Forms 26Q and 27Q are updated accordingly. Both updates aim at improving clarity and uniform tax compliance. | जल्द आ रहा है | ||
| 2025-03-27 | Clarifications on Availment of Benefit Under Section 128A of CGST Act, 2017 | CBIC issued Circular No. 248/05/2025-GST on 27th March 2025 to address practical difficulties in availing benefits under Section 128A of the CGST Act, 2017.
It clarifies that payments made through GSTR-3B prior to 1st November 2024 (effective date of Sec. 128A) are eligible for interest/penalty waiver. Additionally, it provides procedures for cases with consolidated adjudication orders covering periods beyond July 2017-March 2020 and allows partial withdrawal of appeals for the eligible period via Form SPL-01/02. Proper officer verification will be required. | जल्द आ रहा है | ||
| 2025-03-26 | Half-Yearly Return Mandated for Delayed Payments to MSMEs | The Ministry of Micro, Small and Medium Enterprises (MSME), via notification dated 25th March 2025, has mandated that all companies procuring goods or services from micro and small enterprises (MSEs) must submit a half-yearly return to the Ministry of Corporate Affairs if payments to MSEs exceed 45 days from the date of acceptance or deemed acceptance.
The return must disclose (a) the amount due and (b) reasons for the delay, as per Section 9 and 15 of the MSME Development Act, 2006. | जल्द आ रहा है | ||
| 2025-03-26 | Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025 | To ensure completion of pending departmental work for FY 2024-25, CBDT has directed all Income Tax Offices across India to remain open on 29th (Saturday), 30th (Sunday), and 31st March 2025 (Monday), despite 31st being a closed holiday.
This order, issued under Section 119 of the Income-tax Act, 1961, is for administrative convenience as the financial year ends on a holiday, with the preceding two days being a weekend. | जल्द आ रहा है | ||
| 2025-03-25 | CBDT Expands Safe Harbour Rules under Income-tax Rules, 1962 | CBDT has amended the Income-tax Rules, 1962, expanding the scope of safe harbour provisions under Section 92CB for arm's length price determination.
Key changes include raising the threshold for availing safe harbour from Rs. 200 crores to Rs. 300 crores and adding lithium-ion batteries for use in electric or hybrid electric vehicles to the definition of core auto components. These changes apply to assessment years 2025-26 and 2026-27, offering greater tax certainty to qualifying taxpayers. | जल्द आ रहा है | ||
| 2025-03-25 | Key Clarifications on Finance Bill 2025 - Supplementary FAQs Released | The supplementary FAQs on the Finance Bill 2025 clarify major amendments including easing investment limits under Section 9A for Indian residents in eligible funds, presumptive taxation for tech services by non-residents under Section 44BBD, exemptions for IFSC-issued insurance policies under Section 10(10D), and tax-neutral relocation for ETFs and retail schemes under Section 47(viiad).
Significant updates to Chapter XIV-B redefine "undisclosed income" for block assessments, aligning legal definitions and procedures with the evolving tax framework. | जल्द आ रहा है | ||
| 2025-03-18 | CBDT Issues Clarification on Circular 01/2025 Regarding Principal Purpose Test (PPT) in DTAAs | CBDT clarifies that Circular 01/2025 provides guidance on applying the Principal Purpose Test (PPT) in India's Double Taxation Avoidance Agreements (DTAAs) where such a provision exists.
It does not interfere with other DTAA provisions, anti-abuse rules like GAAR, SAAR, or JAAR, or introduce new legal interpretations. The Circular strictly applies to the PPT provision, ensuring consistency in tax law interpretation while upholding the existing legal framework. | जल्द आ रहा है | ||
| 2025-03-18 | CBDT Issues FAQs on Compounding of Offences Under Income-Tax Act | CBDT has issued revised guidelines for compounding offences under the Income-Tax Act, 1961, effective from 17.10.2024.
Key changes include the removal of offence categorization, no limit on the number of applications, permission for fresh applications after curing defects, and inclusion of compounding under sections 275A and 276B. The previous 36-month time limit for application filing has been eliminated. These changes provide taxpayers with greater flexibility while ensuring legal compliance and procedural transparency. | जल्द आ रहा है | ||
| 2025-03-13 | Correction statements for TDS/TCS cannot be filed after six years | The Finance (No. 2) Act, 2024, introduced an amendment to Section 200(3) of the Income-tax Act, stipulating that correction statements for TDS/TCS cannot be filed after six years from the end of the financial year in which the original statement was due. Consequently, correction statements for Financial Years 2007-08 to 2018-19 will be accepted only up to March 31, 2025. | जल्द आ रहा है | ||
| 2025-03-04 | Enhancements in Biometric Authentication for Directors and Promoters | The GSTN has introduced a facility allowing certain Promoters / Directors to complete their Biometric Authentication at any GST Suvidha Kendra (GSK) within their Home State. This applies to applicants from Public Limited, Private Limited, Unlimited, and Foreign Companies.
The facility allows booking slots for Biometric Authentication through an intimation email and is available in 33 states/UTs, with expansion to three more states soon. The process is optional, and Promoters/Directors must carefully select their GSK, as the choice is final. | जल्द आ रहा है | ||
| 2025-02-28 | Form 13 Filing Deadline for FY 2024-25 | The filing application in Form 13 for obtaining a lower or nil deduction certificate under section 197 of the Income Tax Act for the financial year 2024-25 must be completed by 15th March 2025. | जल्द आ रहा है | ||
| 2025-02-28 | Form 15E Filing for FY 2025-26 Now Available | Starting 28th February 2025, you can file an application in Form 15E for the lower or nil deduction certificate under section 195(2) of the Income Tax Act for the Financial Year 2025-26. | जल्द आ रहा है | ||
| 2025-02-28 | Form 15E Filing Deadline for FY 2024-25 | The deadline to file an application in Form 15E for obtaining a lower or nil deduction certificate under section 195(2) of the Income Tax Act for the financial year 2024-25 is 15th March 2025. | जल्द आ रहा है | ||
| 2025-02-21 | Income-Tax Deduction from Salaries for Financial Year 2024-25 | CBDT has issued Circular No. 3/2025, dated February 20, 2025, providing guidelines for income-tax deduction from salaries under Section 192 of the Income-tax Act, 1961 for Financial Year 2024-25.
It incorporates amendments introduced by Finance (No.2) Act, 2024, Finance (No.1) Act, 2024, and Finance Act, 2023. Key highlights include: 1. Updated surcharge rates under the Old Tax Regime for individuals earning above ?50 lakhs. 2. New Tax Regime slabs remain unchanged. 3. Changes in perquisites valuation, including employer-provided accommodation. 4. Revised Form 16 and 24Q under amended Income-tax Rules. | जल्द आ रहा है | ||
| 2025-02-14 | Clarification on GST Rates & Classification Based on 55th GST Council Meeting | The circular provides clarifications on GST rates and classifications based on the 55th GST Council meeting held on December 21, 2024, in Jaisalmer.
Key clarifications include the classification and GST rate on pepper (genus Piper), raisins supplied by agriculturists, and ready-to-eat popcorn, specifying conditions under which different tax rates apply. It also addresses GST applicability on fly ash-based Autoclaved Aerated Concrete (AAC) blocks and clarifies the effective date of amendments regarding ground clearance criteria for certain vehicles. | जल्द आ रहा है | ||
| 2025-02-13 | Advisory on GST Registration Process - Aadhaar Authentication & ARN Generation | The GST registration process requires applicants to choose between Aadhaar authentication or document verification at a GST Suvidha Kendra (GSK).
Those opting out of Aadhaar authentication must schedule an appointment for photo and document verification at a GSK. Applicants opting for Aadhaar authentication and flagged for biometric verification must visit a GSK for biometric authentication. If verification is not completed within 15 days, the Application Reference Number (ARN) will not be generated. Taxpayers are advised to ensure accurate Aadhaar details and timely completion of verification to avoid delays in GST registration. | जल्द आ रहा है | ||
| 2025-02-12 | MCA Extends Demat Compliance Deadline Until June 30, 2025 | The Ministry of Corporate Affairs (MCA) has amended the Companies (Prospectus and Allotment of Securities) Rules, 2014, regarding mandatory dematerialization (demat) of securities under Rule 9B.
The amendment provides that a private company, other than a Producer Company, which is not a small company as of March 31, 2023, must comply with Rule 9B(2) by June 30, 2025. This extension offers relief to eligible companies by granting additional time for compliance. The amendment takes effect upon publication in the Official Gazette. The MCA clarified that the change has no adverse impact due to its retrospective effect, ensuring a smoother transition for applicable businesses. | जल्द आ रहा है | ||
| 2025-02-09 | New Biometric-Based Aadhaar Authentication for GST Registration in Maharashtra & Lakshadweep | The GST registration process now includes Biometric-Based Aadhaar Authentication and document verification in Maharashtra and Lakshadweep under Rule 8 of CGST Rules, 2017. Applicants may receive either an OTP-based authentication link or a GSK appointment link for biometric verification.
Those receiving the latter must visit a GST Suvidha Kendra (GSK) with their original documents and Aadhaar/PAN card. The appointment booking system is now active. GSTN will generate an Application Reference Number (ARN) once verification is completed. GSK operating hours will follow local administration guidelines. | जल्द आ रहा है | ||
| 2025-02-09 | CBDT Notification: Income-tax (Third Amendment) Rules, 2025 | The Income-tax (Third Amendment) Rules, 2025 revise regulations for Infrastructure Debt Funds (IDFs). IDFs must be Non-Banking Financial Companies (NBFCs) regulated by RBI and can invest only in post-operation infrastructure projects or toll-operate-transfer projects. IDFs can raise funds via rupee/foreign bonds, zero-coupon bonds (Rule 8B), or ECB.
ECBs must have a minimum five-year tenure and cannot be sourced from Indian banks' foreign branches. IDFs cannot invest in projects where a specified shareholder (holding 30% or more voting power) has a substantial interest. These changes enhance financial oversight and investment norms for infrastructure financing. | जल्द आ रहा है | ||
| 2025-02-06 | Advisory on E-Way Bill for Goods under Chapter 71 | As per Rule 138(14) of the CGST Rules, 2017, goods under Chapter 71 (natural/cultured pearls, precious stones, metals, and jewellery, except imitation jewellery under HSN 7117) are exempt from mandatory E-Way Bill (EWB) generation.
Previously, NIC allowed voluntary EWB generation under the "EWB for Gold" category, but this option has now been withdrawn. However, Kerala mandates EWB for intra-state movement of these goods as per Notification No. 10/24-State Tax dated 27/12/24. Taxpayers and transporters should ensure compliance and refer to the GST Helpdesk for any clarifications. | जल्द आ रहा है | ||
| 2025-01-30 | Late Fee Clarification for GSTR-9C Filing | Circular No. 246/03/2025-GST (30th Jan 2025): Delay in filing GSTR-9C with GSTR-9 attracts a late fee under Section 47 of CGST Act. Filing only GSTR-9 (if GSTR-9C is required) is incomplete.
Fee Calculation: Late fee applies from the due date until both forms are filed. Waiver for FY 2022-23 & Earlier: Notification No. 08/2025-Central Tax (23rd Jan 2025) waives excess late fees if GSTR-9C is filed by 31st March 2025 (No refunds for already paid fees). | जल्द आ रहा है | ||
| 2025-01-28 | Clarifications on GST for Insurance Transactions | Co-Insurance Premiums: Apportionment by lead insurers to co-insurers is not treated as a supply if GST is paid on the full premium by the lead insurer.
Reinsurance Commission: GST is not applicable on reinsurance commissions if the reinsurer pays GST on the gross reinsurance premium. Regularization for Past Period: GST for these transactions is regularized from 1st July 2017 to 31st October 2024 on an "as is where is" basis. - Circular No. 244/01/2025-GST, dated 28th Jan 2025 | जल्द आ रहा है | ||
| 2025-01-28 | Clarifications Regarding Applicability of GST on Certain Services | 1) No GST on Penal Charges: Exempt as per RBI directions effective 1st Jan 2024. 2) Payment Aggregators Exempt: Transactions below Rs. 2,000 are GST-free. 3) Skill Training Exemption Restored: For NSDC-approved partners from 16th Jan 2025. 4) R&D Services: Exempt when funded by government grants. 5) Facility Management Taxable: Services to MCD HQ attract GST. (As per Circular No. 245/02/2025-GST) | जल्द आ रहा है | ||
| 2025-01-25 | CBIC Warns Against Fake Summons for GST Violations | The CBIC has cautioned taxpayers about fraudulent summons being issued by fraudsters using fake Document Identification Numbers (DIN) that resemble official communications.
Taxpayers are advised to verify the authenticity of any summons via the -VERIFY CBIC-DIN- tool on the official website (esanchar.cbic.gov.in). If found fake, they should report it to the DGGI or CGST office for prompt action. CBIC emphasizes the mandatory use of DIN for all official communications per Circular No. 122/41/2019-GST dated November 5, 2019. | जल्द आ रहा है | ||
| 2025-01-24 | GST Late Fee Waiver for GSTR-9C Filing | The government has waived the excess late fees under Section 47 of the CGST Act for taxpayers who were required to submit GSTR-9C reconciliation statements along with their GSTR-9 annual returns for financial years 2017-18 to 2022-23 but failed to do so.
The waiver applies if the pending GSTR-9C is filed on or before March 31, 2025. However, no refunds will be provided for any late fees already paid for the delayed submission. | जल्द आ रहा है | ||
| 2025-01-24 | Temporary Identification Number Introduced | The Central Government has introduced Rule 16A under the CGST Rules, 2017, enabling the issuance of a Temporary Identification Number (TIN) to individuals not liable for GST registration but required to make tax payments.
This change allows businesses and individuals to comply with GST obligations without undergoing full registration. Additionally, amendments have been made to Rule 19 and Rule 87, streamlining the process for composition taxpayers and enhancing electronic cash ledger operations. The updated FORM GST REG-12 now includes detailed provisions for issuing temporary registration, improving compliance and ease of doing business. | जल्द आ रहा है | ||
| 2025-01-23 | Negative Values Now Allowed in GSTR-3B | The GST portal has introduced a significant update, now allowing taxpayers to report negative values in Table 3.1 of GSTR-3B. This enhancement enables businesses to adjust and correct previous period errors, ensuring accurate tax reporting and compliance.
Taxpayers can now rectify excess tax reported earlier, making return filing more transparent and efficient. The update is expected to simplify reconciliations and reduce unnecessary complications in tax calculations. It will also help resolve the issue of negative liability in cases where a taxpayer had only sales return transactions in a particular month with no corresponding sales transactions. | जल्द आ रहा है | ||
| 2025-01-22 | Mandatory HSN Codes in GSTR-1 & 1A | Starting February 2025, HSN codes in Table 12 of GSTR-1 & 1A must be selected from a dropdown menu, replacing manual entry. Key updates: 1) Table 12 is now split into B2B & B2C tabs for separate reporting. 2) Validation of supply values & tax amounts introduced in warning mode initially. 3) Filing wont be blocked due to validation warnings during the initial phase. | जल्द आ रहा है | ||
| 2025-01-22 | Exemption for Composition Taxpayers from RCM on Renting of Commercial Properties | The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 07/2025-Central Tax (Rate), exempting composition taxpayers from the reverse charge mechanism (RCM) on renting of commercial properties.
Composition taxpayers can now rent commercial properties without being liable to pay tax under RCM, simplifying compliance and reducing their tax burden. However, sponsorship services will continue to be taxed under Forward Charge. | जल्द आ रहा है | ||
| 2025-01-22 | Availing ITC as per Law and GSTR2B | Taxpayers are advised to verify their Input Tax Credit (ITC) while filing GSTR3B to ensure accuracy and compliance with the law.
A previous issue of duplicate entries in GSTR2B has been resolved, and correct GSTR2B reports are now available. To confirm the correct ITC, taxpayers should check the auto-drafted GSTR2B statement, the PDF of the system-generated GSTR3B, or the values shown in Table 4 of GSTR3B. Any discrepancies between these sources and the prefilled GSTR3B should be carefully reviewed and corrected. | जल्द आ रहा है | ||
| 2025-01-22 | Six-year limitation for filing TDS/TCS correction statements |
Starting from April 1, 2025, an amendment to Section 200(3) of the Income-tax Act introduces a six-year limitation for filing TDS/TCS correction statements. This means corrections can only be made within six years from the end of the relevant financial year.
For financial years up to 2018-19, correction statements must be submitted by March 31, 2025. | जल्द आ रहा है | ||
| 2025-01-21 | Removal of Difficulties in Direct Tax Vivad Se Vishwas Scheme, 2024 | The Ministry of Finance has issued an order to resolve issues in implementing the Direct Tax Vivad Se Vishwas Scheme, 2024, effective from 1st October 2024. For cases where appeals were filed after 22nd July 2024, the order ensures that:
1) The appeal will be considered pending as of 22nd July 2024. 2) The individual will be treated as an appellant under the Scheme. 3) Disputed taxes will be calculated based on the appeal. This order aims to streamline the process for those affected. | जल्द आ रहा है | ||
| 2025-01-17 | Inclusion of 30 Gene Therapy in GST Schedules | Notification No. 02/2025 - Central Tax (Rate), dated 16th January 2025, has introduced "30 Gene Therapy" into the GST schedules.
This inclusion ensures the proper classification and taxability of gene therapy services under GST. With the increasing relevance of advanced medical treatments, this update acknowledges the evolving healthcare landscape and aligns the tax framework with modern innovations in medicine. | जल्द आ रहा है | ||
| 2025-01-17 | Clarification on Pre-Packaged and Labeled Commodities | Through the Notification No. 01/2025 - Central Tax (Rate), dated 16th January 2025, the government has issued detailed clarification on "pre-packaged and labeled" commodities.
This definition applies to retail sale goods weighing up to 25 kg or holding 25 liters. These goods must be pre-packed as defined under the Legal Metrology Act, 2009, with all mandatory declarations securely affixed. This clarification aims to eliminate ambiguities regarding tax applicability on pre-packaged items and aligns GST with existing legal metrology standards. | जल्द आ रहा है | ||
| 2025-01-17 | Taxability of Fortified Rice Kernel (FRK) | The Government has introduced tax rates for Fortified Rice Kernel (FRK) under Notification No. 01/2025 - Central Tax (Rate), issued on 16th January 2025.
FRK has been included in GST with a 2.5% rate under Schedule I and a 9% rate under Schedule III. This applies to pre-packaged and labeled products containing up to 25 kg as per the Legal Metrology Act, 2009. The addition of FRK to the taxable goods list reflects the government focus on ensuring consistent GST application to fortified food products, which play a significant role in addressing nutritional deficiencies. | जल्द आ रहा है | ||
| 2025-01-17 | Update on Specified Premises under GST | As per Notification No. 05/2025 - Central Tax (Rate), dated 16th January 2025, the concept of "Specified Premises" under GST has been redefined, effective from 1st April 2025.
Premises offering hotel accommodation services with a unit value exceeding Rs. 7,500 per day will now be classified as "Specified Premises." Furthermore, registered suppliers can declare their premises as "Specified Premises" or opt-out through newly introduced declarations outlined in Annexures VII, VIII, and IX. This classification ensures proper compliance with GST laws. | जल्द आ रहा है | ||
| 2025-01-14 | GST Waiver Scheme Advisory Under Section 128A | Forms GST SPL 01 and GST SPL 02 are available on the GST portal for filing waiver applications. Appeals (APL 01) filed before 21.03.2023 must be withdrawn manually via the Appellate Authority.
Withdrawal requests will be forwarded by State Nodal Officers. Issues can be reported on the GST Self-Service Portal under "Issues related to Waiver Scheme." For more details, refer to the advisory on the GST portal. | जल्द आ रहा है | ||
| 2025-01-14 | Extended Generation Date for Draft GSTR-2B: December 2024 | The Draft GSTR-2B for December 2024 (Quarter Oct-Dec 2024) will now be generated on 16th January 2025, following the extension of due dates for filing GSTR-1 and GSTR-3B as per Notifications No. 01/2025 and 02/2025 issued on 10th January 2025. Taxpayers can recompute their Draft GSTR-2B if any action is taken in IMS after 16th January 2025. | जल्द आ रहा है | ||
| 2025-01-13 | Guidelines for Arrest and Bail under CGST Act, 2017 | As per Instruction No. 01/2025-GST (dated 13th January 2025) issued by the GST-Investigation Wing, the guidelines for arrest and bail under the CGST Act, 2017, have been amended. This amendment refers to Instruction No. 02/2022-23 GST (Investigation) dated 17th August 2022.
The updated guidelines mandate that: 1) Grounds of Arrest: Must be explained to the arrested person and provided in writing as an annexure to the arrest memo. 2) Acknowledgment: Acknowledgment of the arrest memo must be obtained from the arrested person at the time of service. This amendment ensures compliance with recent judicial rulings, promoting transparency and procedural fairness in arrests. | जल्द आ रहा है | ||
| 2025-01-09 | New HSN Validation Rules: Whats Changing in GSTR-1 Table 12 | Starting January 2025, Phase-3 of HSN validation in Table 12 of GSTR-1 is here!
Key updates: 1) Mandatory 4/6-digit HSN code reporting. 2) No manual HSN entries allowed; dropdown selection only. 3) B2B and B2C supplies now reported separately. 4) Validation checks added for supply values (warning mode for now). 5) New Download HSN Codes List button for easy access to updated codes. 6) Product Name as in My Master is now searchable for better usability. | जल्द आ रहा है | ||
| 2025-01-07 | GST Update: Rectify ITC Demand Orders Easily! | Taxpayers can now file rectification applications for demand orders issued under Section 73/74 due to incorrect ITC claims under Section 16(4).
This is enabled for cases where ITC is now eligible under Sections 16(5) or 16(6) (as per Notification 22/2024-CT, dated 08.10.2024). Access the new functionality on the GST portal via Services > User Services > My Applications. | जल्द आ रहा है | ||
| 2025-01-06 | TDS Exemption for IFSC Unit Purchases | Effective 1st January 2025, no TDS under Section 194Q is required on purchases from IFSC Units, provided:
1) The seller submits a verified declaration for claiming deductions under Section 80LA for ten consecutive years. 2) The buyer refrains from deducting TDS after receiving the declaration and reports such payments in their TDS statements. This exemption supports compliance ease and boosts IFSC operations. | जल्द आ रहा है | ||
| 2025-01-03 | Clarification on Place of Supply for Online Services to Unregistered Recipients | Circular No. 242/36/2024-GST, dated 31st Dec 2024, provides clarification regarding the place of supply for online services provided to unregistered recipients. It mandates that for services supplied to unregistered recipients, including online money gaming and online information and database access or retrieval (OIDAR) services, supplier must record the recipient's state name on the tax invoice, irrespective of supply value. This ensures the correct place of supply is declared, which is the location of the recipient as per section 12(2)(b) of the IGST Act. Suppliers are required to implement measures to collect such details and failure to comply may lead to penalties under section 122(3)(e) of the CGST Act. | जल्द आ रहा है | ||
| 2025-01-03 | Clarification on ITC Availability for Ex-Works Contracts | Circular No. 241/35/2024-GST, dated 31st Dec 24, provides clarification on the eligibility of ITC for goods delivered under Ex-Works (EXW) contracts, particularly in the automobile sector. It confirms that the registered person (dealer) can claim ITC on the goods when they are handed over to the transporter at the suppliers (OEMs) factory gate, even if the goods are physically received later at the dealer's premises. This is consistent with the Explanation under clause (b) of section 16(2) of the CGST Act, which deems the goods to be received once handed over to the transporter. The clarification also emphasizes that ITC is contingent upon the goods being used in the course of business. | जल्द आ रहा है | ||
| 2025-01-03 | Clarification on ITC Reversal for Electronic Commerce Operators | Circular No. 240/34/2024-GST, dated 31st Dec 24, provides clarification regarding the reversal of ITC for Electronic Commerce Operators (ECOs) in cases where services under Section 9(5) of the CGST Act are supplied through their platform.
It confirms that ECOs are not required to reverse proportionate ITC on inputs and input services for supplies made under this section, including restaurant services. Additionally, ECOs must pay tax liabilities under Sec 9(5) exclusively through electronic cash ledger, with ITC on inputs and input services not being allowed for this purpose, although it can be used for their own services. | जल्द आ रहा है | ||
| 2025-01-01 | Amendment to Companies (Accounts) Rules, 2024 - Extension of CSR-2 Filing Deadline | The MCA has issued the Companies (Accounts) Second Amendment Rules, 2024, which amends the Companies (Accounts) Rules, 2014. One significant update is the extension of the deadline for certain filings, including CSR-2 (Corporate Social Responsibility reporting), now required to be filed "on or before 31st March, 2025," instead of the previous deadline of "on or before 31st December, 2024."
This amendment comes into effect immediately upon publication in the Official Gazette. The CSR-2 form, which is part of the annual filing requirements for certain companies, will now align with the extended deadline. | जल्द आ रहा है | ||
| 2024-12-31 | Extension of Due Date for Furnishing Belated/Revised Return of Income for AY 24-25 | CBDT, in its Circular No. 21/2024 dated 31st Dec 2024, has extended the deadline for submitting belated or revised returns of income for the AY 24-25.
The revised due date for resident individuals is now set for 15th Jan 2025, instead of the earlier deadline of 31st Dec 2024. This extension applies to the filing of belated returns under section 139(4) and revised returns under section 139(5) of the Income-tax Act, 1961. The extension provides additional time for taxpayers to fulfill their filing obligations for the given assessment year. | जल्द आ रहा है | ||
| 2024-12-30 | Extension of Due Date for Determining Amount Payable under the Direct Tax Vivad Se Vishwas Scheme, 2024 | CBDT has extended the due date for determining the payable amount under column (3) of the Table specified in section 90 of the Direct Tax Vivad Se Vishwas Scheme, 2024.
The new deadline is now set to 31st January 2025, extended from the previous deadline of 31st December 2024. In cases where the declaration is filed on or before 31st January 2025, the payable amount will be determined as per column (3) of the Table. If the declaration is filed on or after 1st February 2025, the amount will be determined as per column (4) of the said Table. | जल्द आ रहा है | ||
| 2024-12-29 | GSTN Issues Guide for Filing FORM GST SPL-02 under Waiver Scheme | GSTN has issued a comprehensive guide for taxpayers seeking to apply for the Waiver Scheme under Section 128A. The guide outlines the step-by-step process for filing FORM GST SPL-02 on the GST portal, specifically for waiving interest and penalties.
Taxpayers need to log into the portal, navigate to - My Applications, and select -Apply for Waiver Scheme under Section 128A. The process includes answering mandatory questions about the demand order and appeal status, entering relevant details about the demand, payment, and uploading required documents. The form must be filed using either a Digital Signature Certificate (DSC) or an Electronic Verification Code (EVC). | जल्द आ रहा है | ||
| 2024-12-29 | GST Waiver Scheme Advisory for Tax Periods Between July 2017 & March 2020 | GSTN has issued an advisory regarding the Waiver Scheme under Section 128A. Taxpayers who have received demand notices, statements, or orders under Section 73 for tax periods between July 2017 and March 2020 are required to apply for the waiver by filing either FORM GST SPL-01 or SPL-02 on the GST portal.
Currently, FORM GST SPL-02 is available, while FORM GST SPL-01 will be accessible shortly. A detailed guide for filing FORM GST SPL-02 electronically is provided. Any difficulties encountered during the process can be reported through the GST self-service portal. | जल्द आ रहा है | ||
| 2024-12-18 | Mandatory Multi-Factor Authentication (MFA) and Updates to E-Way Bill and E-Invoice Systems Effective 2025 | MFA Mandatory
From Jan 1, 2025: For AATO > Rs. 20 Cr From Feb 1, 2025: For AATO > Rs. 5 Cr From Apr 1, 2025: For all taxpayers E-Way Bill Updates Generate EWBs only for documents dated within 180 days. Extension capped at 360 days from original date. Act Now: Update your mobile number and enable MFA! These changes ensure enhanced security and streamlined compliance for GST systems. | जल्द आ रहा है | ||
| 2024-12-18 | Integration of E-Way Bill System with Indian Railways FOIS | The EWB system is now integrated with the Freight Operations Information System (FOIS) of Indian Railways. Taxpayers must enter Railway Receipt Numbers (RR No./eT-RRs) in the format F Update Part-B of the EWB for rail transport using the "Multi-Transport Mode" option and select "Rail" as the mode of transport. Accurate entries are essential for smooth tracking, verification, and avoiding discrepancies or delays. For issues or clarifications, raise a ticket with the support team, providing the correct RR details. | जल्द आ रहा है | ||
| 2024-12-09 | Advisory on Table 8A & 8C Mismatch in GSTR-9 for FY 2023-24 | For FY 2023-24, Table 8A of GSTR-9 auto-populates ITC from GSTR-2B, while Table 8C requires manual entry for ITC claimed in the next FY. Key points include:
1. Late Invoices: Report ITC in Tables 8C & 13 for FY 2023-24. 2. Reclaimed ITC: Declare in the next FY (e.g., FY 2024-25). 3. Goods Not Received: Include in Tables 8C & 13 of FY 2023-24. 4. Prior Year ITC: Exclude last year ITC from FY 2023-24. 5. Same-Year Reclaim: Use Table 6H without duplicating in Table 7. | जल्द आ रहा है | ||
| 2024-12-09 | New Biometric-Based Aadhaar Authentication for GST Registration | Starting December 7, 2024, GST registration applicants in Haryana, Manipur, Meghalaya, and Tripura will undergo biometric-based Aadhaar authentication along with document verification at GST Suvidha Kendras (GSKs). Applicants will receive an email link for either OTP-based authentication or appointment booking for GSK visits. Ensure you carry original documents, Aadhaar, PAN, and appointment confirmation for smooth processing. | जल्द आ रहा है | ||
| 2024-12-04 | Mandatory Sequential Filing of GSTR-7 Returns | From 1st November 2024, as per Notification No. 17/2024-Central Tax, GSTR-7 returns must be filed sequentially, starting from the October 2024 tax period.
Returns must follow chronological order, including filing Nil returns for months with no deductions. For further clarification, refer to the GSTN helpdesk. | जल्द आ रहा है | ||
| 2024-11-30 | Introduction of Safe Harbour Rules for Diamond Businesses | The CBDT has notified amendments to Income-Tax Rules, 1962, introducing Safe Harbour Rules for eligible businesses under Section 92CB. Who Benefits? - Foreign companies in diamond mining. - Raw diamond sellers in special zones. Key Points: - Profits 4% or more of gross receipts to qualify. - Submit application using Form 3CEFC. Notification No. 124/2024, effective retrospectively from 1st April 2024 for AY 2024-25. | जल्द आ रहा है | ||
| 2024-11-30 | Extended Due Date for AY 2024-25 Filing with Section 92E Report | The CBDT has extended the due date for filing Income Tax Returns under Section 139(1) for Assessment Year 2024-25. - Applicable to taxpayers furnishing reports under Section 92E. - New deadline: 15th December 2024 (previously 30th November 2024). Ensure timely compliance to avoid penalties. For details, refer to CBDT Circular No. 18/2024 dated 30th November 2024. | जल्द आ रहा है | ||
| 2024-11-30 | CBDT Seeks Suggestions for Income-tax Act Review | CBDT has formed an internal committee to review the Income-tax Act, 1961. The aim is to simplify the language, reduce litigation, enhance compliance efficiency, and remove outdated provisions.
Stakeholders and the public can share their inputs under these categories: 1) Simplification of Language 2) Litigation Reduction 3) Compliance Reduction 4) Removal of Redundant Provisions Suggestions can be submitted via the Income Tax e-filing portal. | जल्द आ रहा है | ||
| 2024-11-26 | TDS Reporting Update for Scrap Dealers - October 2024 | As per Notification No. 25/2024-Central Tax, effective 10.10.2024, TDS under Section 51 of the CGST Act, 2017, must be deducted for supplies of metal scrap between registered persons.
Taxpayers who received GST registration in November 2024 are unable to report TDS deducted in October 2024 due to system limitations. To resolve this, taxpayers can report the consolidated TDS amount for the period from 10.10.2024 to 30.11.2024 in the GSTR-7 return for November 2024. For further assistance, reach out to the GSTN Helpdesk. | जल्द आ रहा है | ||
| 2024-11-22 | Mandatory Electronic Filing of Forms under Income Tax Rules | CBDT has issued Notification No. 06/2024, mandating electronic filing of the following forms under Rule 131, effective 22nd November 2024: Form 42: Appeals for provident fund recognition issues. Form 43: Appeals for superannuation fund approval issues. Form 44: Appeals for gratuity fund approval issues. Ensure compliance by filing these forms electronically. | जल्द आ रहा है | ||
| 2024-11-19 | Extension of Due Date for GSTR-3B Filing for October 2024 for Maharashtra or Jharkhand | The Ministry of Finance, via Notification No. 26/2024 - Central Tax, has extended the due date for filing GSTR-3B for October 2024 to 21st November 2024. This applies to registered taxpayers whose principal place of business is in Maharashtra or Jharkhand.
The extension is made under the powers conferred by Section 39(6) of the CGST Act, 2017, and Rule 61 of the CGST Rules, 2017, based on the recommendation of the GST Council. | जल्द आ रहा है | ||
| 2024-11-20 | CBDT Allows Delay Condonation for Forms 10-IC and 10-ID | The Central Board of Direct Taxes (CBDT) has issued Circular No. 17/2024, permitting condonation of delays in filing Forms 10-IC and 10-ID for Assessment Years 2020-21, 2021-22, and 2022-23 under Section 119(2)(b) of the Income-tax Act.
Applications must meet specific conditions, including filing returns on time and showing genuine hardship. Delays up to 365 days will be addressed by Pr. Commissioners of Income Tax, while longer delays will be handled by higher authorities. No applications will be accepted beyond three years from the end of the relevant assessment year. | जल्द आ रहा है | ||
| 2024-11-18 | CBDT Launches Campaign for Foreign Assets Reporting | The CBDT has launched a compliance campaign to assist taxpayers in disclosing foreign assets and income in their ITR for AY 2024-25. Targeting residents holding foreign accounts or receiving foreign income, the campaign uses SMS and emails to guide taxpayers in completing Schedule FA and FSI.
Non-compliance may lead to penalties of up to Rs. 10 lakh and revocation of DTAA benefits. Taxpayers are encouraged to visit the Income Tax Department website for details and file revised returns if needed before December 31, 2024. | जल्द आ रहा है | ||
| 2024-11-07 | Mandatory Virtual Hearings for CGST, IGST, Customs, and Central Excise under CBIC | The Central Board of Indirect Taxes and Customs (CBIC) has issued revised guidelines making virtual hearings mandatory for departmental proceedings under CGST, IGST, Customs Act, Central Excise Act, and Chapter V of the Finance Act.
Personal hearings must now be conducted through Video Conferencing (VC), with exceptions allowed for physical hearings only upon specific requests by the party involved. This amendment reverts to the original instruction of 21.08.2020, emphasizing virtual hearings to streamline processes and improve efficiency. | जल्द आ रहा है | ||
| 2024-11-05 | New e-Invoice Reporting Limit for Rs 10 Cr+ Turnover | According to the GST Advisory dated November 5, 2024, taxpayers with an annual turnover (AATO) of Rs. 10 crores and above must report e-invoices on the IRP portal within 30 days from the invoice date, starting April 1, 2025.
This limit applies to all invoices, credit, and debit notes. Be prepared to meet the deadline to avoid reporting issues. Circular Reference: Advisory dated November 5, 2024 | जल्द आ रहा है | ||
| 2024-11-05 | Updated Rules on Interest Waiver for Tax Delays | CBDT new circular revises limits for waiving interest on delayed tax payments under Section 220(2).
Key limits: Pr. CIT / CIT: up to Rs. 50 lakhs CCIT/DGIT: Rs. 50 lakhs to Rs. 1.5 crore Pr. CCIT: above Rs. 1.5 crore Effective immediately, waivers apply only if hardship is proven, delay is uncontrollable, and taxpayer cooperation is shown. | जल्द आ रहा है | ||
| 2024-10-31 | New Limitation on Filing GST Returns Beyond Three Years | According to the Finance Act, 2023, effective from October 1, 2023, taxpayers are barred from filing GST returns after three years from the original due date.
This restriction applies to returns under Sections 37 (Outward Supply), 39 (Payment of Liability), 44 (Annual Return), and 52 (Tax Collected at Source), covering forms GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, and GSTR-9. The GST portal will implement these changes from early 2025. Taxpayers are advised to reconcile records and file any pending returns promptly to avoid non-compliance. | जल्द आ रहा है | ||
| 2024-10-26 | Extended Deadline for Filing Income Tax Returns for Audit Cases for FY 2023-24 | The due date for filing Income Tax Returns (ITR) for audit cases for the Financial Year 2023-24 has been extended to 15th November 2024.
This extension applies to corporate assessees, non-corporate assessees whose accounts require auditing, and partners of firms whose accounts require auditing, as well as their spouses in cases covered by section 5A. This update follows Circular No. 13/2024 dated 26th October 2024. | जल्द आ रहा है | ||
| 2024-10-21 | New Income Declaration Form 12BAA: A Must for Accurate Tax Deduction! | The Income Tax Department has introduced Form 12BAA, now compulsory for all employees to report income from sources beyond their salary, like interest, dividends, commissions, or rental income.
This form ensures that taxes deducted or collected at source (TDS/TCS) are properly accounted for, adjusting your total tax liability more accurately. It is a crucial step to avoid discrepancies and penalties. Employees should make sure to submit Form 12BAA to employer and declare full income for precise tax deductions on salary. | जल्द आ रहा है | ||
| 2024-10-17 | Additional Advisory: Further Instructions on GSTR-3B Auto-Population | In continuation of the advisory from October 16, 2024, the update issued on October 17, 2024, brings further clarification. While hard-locking of tax liabilities in GSTR-3B will commence from January 2025, the auto-locking of Input Tax Credit (ITC) has been deferred.
ITC will only be locked after the full roll-out of the Invoice Management System (IMS). A separate advisory will be issued for ITC locking once all IMS-related issues are addressed, providing taxpayers additional time to manage inward supplies through IMS before the ITC locking begins. | जल्द आ रहा है | ||
| 2024-10-17 | New CBDT Guidelines for Compounding Offences Under IT Act | CBDT has released updated guidelines for compounding offences under the Income-Tax Act, effective from 17th October 2024. These changes simplify the application process by eliminating offence categorization and removing the 36-month time limit for filing applications.
Companies and HUFs can now compound offences without the main accused filing the application. Additionally, compounding charges have been rationalized, reducing interest for late payments and standardizing TDS defaults at 1.5% per month. These revisions aim to ease compliance and promote the government's "ease of doing business" initiative. | जल्द आ रहा है | ||
| 2024-10-17 | Hard-Locking of Auto-Populated Values in GSTR-3B | From January 2025, the GST Portal will enforce hard-locking of auto-populated values in the pre-filled GSTR-3B form to ensure accuracy in return filings.
The tax liability and Input Tax Credit (ITC) values will be automatically populated based on GSTR-1/1A/IFF and GSTR-2B. Taxpayers can no longer make direct changes to these values in GSTR-3B. Instead, corrections must be made through GSTR-1A or the Invoice Management System (IMS). This update aims to reduce human errors and improve compliance in the GST return process. | जल्द आ रहा है | ||
| 2024-10-15 | Income Tax Amendment Rules: Clarification on Section 12A and 80G | The Ministry of Finance has issued Notification No. 111/2024, amending the Income Tax Rules, 1962, effective from 1st October 2024. This amendment clarifies various provisions under Section 12A and Section 80G of the Income Tax Act, 1961.
It updates the registration process for trusts and non-profit organizations, simplifying the application forms (Form 10A and 10AB) and removing outdated codes. The amendment is aimed at streamlining the process for obtaining tax exemptions and ensuring proper compliance with the updated guidelines. | जल्द आ रहा है | ||
| 2024-10-15 | Clarification on Input Tax Credit Provisions | The Central Board of Indirect Taxes and Customs has issued Circular No. 237/31/2024, dated 15th October 2024, to clarify the implementation of newly inserted sub-sections (5) and (6) in Section 16 of the CGST Act, 2017.
These provisions, inserted with retrospective effect from July 1, 2017, extend the time limit for availing input tax credit in specific cases. The circular provides detailed guidelines for taxpayers and tax officers regarding the rectification of past orders and availment of input tax credits, ensuring uniform implementation across the field. | जल्द आ रहा है | ||
| 2024-10-15 | Guidance on Direct Tax Vivad Se Vishwas Scheme, 2024 | The Central Board of Direct Taxes (CBDT) has issued Circular No. 12 of 2024, providing a detailed guidance note on the provisions of the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV Scheme, 2024).
This scheme aims to resolve pending income tax litigation and facilitate quicker tax dispute settlements. The circular addresses frequently asked questions and clarifies the eligibility criteria, payment timelines, and procedural aspects of the scheme. It ensures taxpayers gain a better understanding of how to benefit from the scheme before the deadlines. | जल्द आ रहा है | ||
| 2024-10-15 | Clarifications related Waiver of Interest and Penalties under Section 128A | The Central Board of Indirect Taxes and Customs has issued Circular No. 238/32/2024 clarifying various doubts related to the provisions of Section 128A of the CGST Act, 2017.
Effective from November 1, 2024, taxpayers can apply for a waiver of interest and penalties related to demands under Section 73 for FYs 2017-18, 2018-19, and 2019-20, subject to conditions. The procedure for availing this waiver involves timely submission of applications and payment of tax by March 31, 2025. This update aims to ensure uniformity in implementation and provides detailed guidelines for taxpayers and tax officers. | जल्द आ रहा है | ||
| 2024-10-14 | Introduction of Invoice Management System (IMS) for Taxpayers | As of October 14, 2024, the Invoice Management System (IMS) is now available to taxpayers. This new system will assist taxpayers in reconciling their invoices with those issued by their suppliers, ensuring correct Input Tax Credit (ITC) claims.
Starting from October 14, 2024, taxpayers can access IMS to manage and take necessary actions on their invoices. The first GSTR-2B will be generated for the return period of October 2024 on November 14, 2024, based on the actions taken in IMS. It is important to note that using the IMS dashboard for GSTR-2B generation is not mandatory. | जल्द आ रहा है | ||
| 2024-10-10 | GST Notification: Reconciliation of ITC from GSTR-2B in Form GSTR-9 from FY 2023-24 | The CBIC has notified a change in the GST rules, now mandating the reconciliation of Input Tax Credit (ITC) from GSTR-2B instead of GSTR-2A in Form GSTR-9, effective from FY 2023-24 onwards. This update aligns with earlier amendments where taxpayers were required to claim ITC appearing in GSTR-2B from January 1, 2022, onwards. The substitution aims to streamline compliance by ensuring that the reconciliation of ITC in GSTR-3B is done solely with GSTR-2B. This adjustment simplifies the process, eliminating the need for cross-verification with GSTR-2A, and focuses entirely on GSTR-2B data for ITC claims and filing Form GSTR-9. | जल्द आ रहा है | ||
| 2024-10-10 | Online Resolution for GST Registration Grievances | To simplify the process of resolving GST registration issues, the Department of Trade & Taxes, Delhi, has launched a virtual grievance redressal system. Applicants, Advocates, and CAs can now resolve their registration-related issues online through daily virtual meetings (Monday to Friday, excluding holidays). Meetings are scheduled from 11:00 am to 01:00 pm and 03:00 pm to 05:00 pm, with each slot lasting 5 minutes. Book your slot via the link provided and get your concerns addressed smoothly. This initiative aims to enhance ease of access and reduce hassles in obtaining GST numbers. | जल्द आ रहा है | ||
| 2024-10-09 | Clarification on TDS Applicability for Metal Scrap Transactions | Effective from October 10, 2024, the GST Council has amended the provisions related to GST TDS (Tax Deducted at Source) at the rate of 2%. The new changes specify that the supply of metal scrap between registered persons is subject to this 2% TDS under Section 51 of the GST Act.
The amendment aims to clarify the conditions under which TDS applies to these transactions, helping streamline compliance for businesses involved in trading metal scrap. Additionally, it excludes certain specified transactions from TDS, except those explicitly involving metal scrap. | जल्द आ रहा है | ||
| 2024-10-08 | Amendment to GST Rates and Classifications for Specific Goods | The Central Government has issued Notification No. 05/2024-Central Tax (Rate), effective from 10th October 2024, introducing key amendments to the GST rate schedules.
Notable changes include the addition of new items such as Trastuzumab Deruxtecan, Osimertinib, and Durvalumab to Schedule I (2.5% rate). It also revises classifications in other schedules with updated tax rates for extruded or expanded products, snack pellets, and seats used in motor vehicles. These amendments aim to align GST rates with the latest recommendations of the GST Council. | जल्द आ रहा है | ||
| 2024-10-08 | GST Notification on Reverse Charge for Metal Scrap Transactions | The Central Government has issued Notification No. 06/2024-Central Tax (Rate), effective from 10th October 2024, amending the GST rate structure for metal scrap transactions. The notification mandates that the reverse charge mechanism (RCM) will apply when metal scrap is supplied by any unregistered person to a registered person. This amendment is aimed at simplifying tax collection and ensuring compliance in the metal scrap sector. | जल्द आ रहा है | ||
| 2024-10-08 | Special Procedure for Rectification of Orders under GST | The Central Government has issued Notification No. 22/2024-Central Tax, effective from 1st November 2024, detailing a special procedure for rectification of orders under the CGST Act, 2017.
This applies to registered persons against whom orders were issued under Sections 73, 74, 107, or 108, confirming demands for incorrect availment of input tax credit due to contraventions of Section 16(4). Registered persons can now apply for rectification if the input tax credit is available as per Section 16(5) or 16(6). The application must be filed within six months, and the rectified order will be issued by the proper authority, with decisions expected within three months. | जल्द आ रहा है | ||
| 2024-10-08 | Waiver of Late Fee for Non-filing of GSTR-7 Returns | The Central Government, through Notification No. 23/2024-Central Tax, effective from 1st November 2024, has announced a waiver of late fees for registered persons required to deduct tax at source under section 51 of the CGST Act, 2017. The waiver applies to late fees for not filing GSTR-7 returns from June 2021 onwards. The late fee is capped at Rs. 25 per day, with a maximum limit of Rs. 1,000. Additionally, if no tax was deducted in a month, the late fee for that period is fully waived. This measure aims to ease compliance for taxpayers facing delays in filing returns. | जल्द आ रहा है | ||
| 2024-10-09 | GST Payment Deadline Extension for Waiver of Interest or Penalty | The Central Government has issued Notification No. 21/2024-Central Tax, effective from 1st November 2024. It extends the deadline for GST payment by registered persons to avail waiver of interest, penalty, or both under Section 128A of the CGST Act, 2017. For registered persons who receive a notice or order under Section 128A, the payment deadline is extended to 31st March 2025. For those receiving notices under Section 74, the deadline is set to six months from the date of the redetermination order issued by the proper officer. This notification aims to facilitate compliance and reduce penalties. | जल्द आ रहा है | ||
| 2024-10-09 | Key Changes Post 54th GST Council Meeting | The latest GST amendments, effective from 10th October 2024, bring significant changes: 1)Renting commercial properties now falls under Reverse Charge Mechanism (RCM). 2) GST applies to helicopter seat-share travel with conditions on input tax credits. 3) Utility companies' services related to electricity metering are now GST exempt. 4) Clarified exemptions for recognized vocational training and research services. | जल्द आ रहा है | ||
| 2024-10-09 | Amendment in IGST Rate Notification for Renting of Non-Residential Property under RCM | The Government has issued an amendment (Notification No. 09/2024-Integrated Tax (Rate)), effective from 10th October 2024, introducing a new entry "6AB." This entry specifies that the service of renting any property other than a residential dwelling is now subject to the Reverse Charge Mechanism (RCM). Under RCM, the liability to pay GST shifts from the supplier (landlord) to the recipient (tenant) of the service when the owner of the property is unregistered. This change aims to streamline tax compliance and prevent revenue leakage, as decided in the 54th GST Council meeting | जल्द आ रहा है | ||
| 2024-10-08 | Extension for Resubmission of Audit Reports in Form 10B/10BB for AY 23-24 | CBDT has issued an order under section 119 of the Income-tax Act, 1961, allowing trusts, institutions, and funds that had already submitted their audit reports in Form 10B/10BB on or before 31st October 2023 to resubmit the audit report in the correct prescribed form by the revised deadline of 31st October 2024.
This extension aims to provide relief to those entities that initially submitted their reports but did not use the proper format, ensuring compliance with the requirements of clause (b) of the tenth proviso to clause (23C) of section 10 and clause (b) of sub-section (1) of section 12A of the Income-tax Act, 1961. | जल्द आ रहा है | ||
| 2024-10-01 | GSTN e-Services App to Replace e-Invoice QR Code Verifier App | Starting soon, the GSTN will replace the e-Invoice QR Code Verifier App with the new GSTN e-Services app.
This app offers enhanced features such as QR code verification for B2B e-invoices, GSTIN search using PAN or GSTIN, return filing history, and multiple input methods like text, voice, and scan. Users can also share search results via the app. The app will be available on the Google Play Store and Apple App Store without the need for login credentials. A detailed user manual will be provided soon. | जल्द आ रहा है | ||
| 2024-09-29 | Extension of Time for Filing Tax Audit Reports for AY 2024-25 | The Central Board of Direct Taxes (CBDT) has issued Circular No. 10/2024, dated 29th September 2024, extending the deadline for filing various audit reports for Assessment Year 2024-25. Due to difficulties faced by taxpayers and other stakeholders in the electronic filing process, the CBDT has extended the deadline from 30th September 2024 to 7th October 2024 for furnishing audit reports under the Income-tax Act, 1961, for the Previous Year 2023-24. This circular is relevant for assessees covered under section 139(1), including those requiring tax audit reports. | जल्द आ रहा है | ||
| 2024-09-27 | Key Provisions of the Finance (No 2) Act, 2024 Effective dates | The Ministry of Finance has issued a notification under No. 17/2024-Central Tax, announcing the implementation dates for specific sections of the Finance (No. 2) Act, 2024. According to the notification: Effective Date: The provisions under sections 118, 142, 148, and 150 of the Finance (No. 2) Act, 2024, come into effect from the date of publication of this notification in the Official Gazette. Sections 114 to 117, 119 to 141, 143 to 147, 149, and 151 to 157 will become effective from November 1, 2024. | जल्द आ रहा है | ||
| 2024-09-25 | Beta Version of MCA Chatbot Now Live on Portal | The Ministry of Corporate Affairs (MCA) has launched the Beta version of its new chatbot on the official portal. Stakeholders can access this feature by clicking on the Chat icon located in the bottom right section of the portal. This development aims to enhance user interaction and provide quicker assistance on MCA-related queries. | जल्द आ रहा है | ||
| 2024-09-24 | Amendment to Companies (Accounts) Rules, 2014 - Filing of Form CSR-2 | As per the Ministry of Corporate Affairs Notification G.S.R. 587(E) dated September 24, 2024, the Companies (Accounts) Rules, 2014 have been amended. The amendment specifies that for the financial year 2023-2024, Form CSR-2 shall be filed separately on or before December 31, 2024, after filing Form AOC-4, AOC-4 NBFC (Ind AS), or AOC-4 XBRL, as applicable. This amendment will come into force upon its publication in the Official Gazette. | जल्द आ रहा है | ||
| 2024-09-24 | Filing Restrictions & Archival of GST Returns Data | As per Notification No. 28/2023, effective October 1, 2023, taxpayers will be restricted from filing their GST returns after three years from the due date, in accordance with Section 39(11) of the CGST Act, 2017. Furthermore, the GST portal will implement a data archival policy, retaining return data for only seven years. This archival process began on August 1, 2024, with returns for July 2017. The archival process will occur monthly. Taxpayers are strongly advised to download necessary data from the portal before it is archived and becomes inaccessible. | जल्द आ रहा है | ||
| 2024-09-20 | Compliance Extension for Producer Companies | The Ministry of Corporate Affairs has issued a notification on 20th September 2024, amending the Companies (Prospectus and Allotment of Securities) Rules, 2014. The amendment introduces a proviso to sub-rule (2) of rule 9B, which allows producer companies covered under this sub-rule a period of five years from the closure of the financial year to comply with the provisions of this sub-rule. This amendment provides producer companies with additional time to meet their compliance requirements, ensuring smoother adherence to regulatory norms. | जल्द आ रहा है | ||
| 2024-09-20 | Commencement of Direct Tax Vivad Se Vishwas Scheme, 2024 from October 1, 2024 | The Ministry of Finance, through a notification published in the Gazette of India on September 19, 2024, has announced that the Direct Tax Vivad Se Vishwas Scheme, 2024 will come into effect from October 1, 2024. This scheme, introduced under the Finance Act, 2024, aims to resolve pending tax disputes efficiently. Taxpayers will be able to settle their disputes with the tax authorities by paying the applicable taxes and obtaining relief from interest, penalty, and prosecution. The notification marks the official commencement of the scheme, which is expected to facilitate quicker resolution of tax-related litigations. | जल्द आ रहा है | ||
| 2024-09-19 | Extension of Timeline for Holding AGM and EGM via Virtual Means until September 2025 | The Ministry of Corporate Affairs has issued General Circular No. 09/2024, which extends the allowance for companies to hold their Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) through Video Conference (VC) or Other Audio Visual Means (OAVM) until September 30, 2025. This extension is applicable to companies whose AGMs are due in the years 2024 or 2025, provided they comply with the requirements laid out in previous circulars. The circular clarifies that this extension does not imply an extension of statutory timelines for holding AGMs. Non-compliance with statutory timelines will lead to legal actions under the relevant provisions of the Companies Act, 2013. | जल्द आ रहा है | ||
| 2024-09-16 | MCA Introduces E-Adjudication Platform for Corporate Penalty Adjudications | From September 16, 2024, the Ministry of Corporate Affairs (MCA) will shift all penalty adjudication processes to the e-Adjudication platform. All proceedings conducted by the adjudicating officer and Regional Director, including notices, hearings, evidence submission, and penalty payments, will take place electronically. If an email address is not available, notices will be mailed to the last known address and stored on the platform. In cases where no address is available, the notice will be posted directly on the e-Adjudication platform. This move enhances efficiency and transparency in corporate compliance. | जल्द आ रहा है | ||
| 2024-09-10 | Clarification on Regularization of Refund of IGST for Exporters Importing Inputs without Payment of Taxes | CBIC issued Circular No. 233/27/2024-GST on Sep 10, 2024, to address the refund of IGST for exporters who had imported inputs without payment of integrated tax and compensation cess. The circular clarifies that if exporters later pay the IGST and compensation cess along with interest, and reassess their Bill of Entry through Customs, the refund of IGST paid on exports will not be considered a violation of the CGST Rule 96(10). This provides relief for exporters who initially availed tax exemptions but later regularized their tax liabilities. | जल्द आ रहा है | ||
| 2024-09-10 | Clarification on GST on Data Hosting Services Provided to Overseas Cloud Computing Service Providers | CBIC issued Circular No. 232/26/2024-GST on Sep 10, 2024, to clarify the place of supply for data hosting services provided by Indian service providers to overseas cloud computing companies. The circular states that data hosting services are not considered intermediary services, nor are they related to goods or immovable property as defined under the GST law. Therefore, the place of supply is determined under the default provision of section 13(2) of the IGST Act, meaning the location of the recipient. For cloud computing companies located outside India, data hosting services qualify as exports, subject to compliance with the export provisions under the IGST Act. | जल्द आ रहा है | ||
| 2024-09-10 | Clarification on Input Tax Credit for Demo Vehicles under GST | CBIC issued Circular No. 231/25/2024-GST on Sep 10, 2024, providing clarification on the availability of ITC for demo vehicles used by authorized motor vehicle dealers. Demo vehicles, purchased for trial runs and demonstrations to potential buyers, are considered as capital assets in the dealer's books. The circular clarifies that ITC is available for demo vehicles if they are used for promoting the sale of similar vehicles, classifying them as being used for "further supply" of such vehicles. However, if demo vehicles are used for non-sale purposes (e.g., employee transport), ITC will not be available. ITC is also subject to certain conditions, such as non-claiming of depreciation on the tax component under the Income Tax Act. | जल्द आ रहा है | ||
| 2024-09-10 | Clarification on GST Treatment for Advertising Services Provided to Foreign Clients | CBIC has issued Circular No. 230/24/2024-GST, dated Sep 10, 2024, to clarify the GST implications for advertising services provided by Indian advertising agencies to foreign clients. The circular provides guidance on whether such services can be considered exports, thus eligible for export benefits, or if the Indian advertising agency acts as an intermediary. It clarifies that when an Indian agency provides a comprehensive advertising service to a foreign client, the place of supply is outside India, and the service qualifies as export. However, if the agency only facilitates procurement of media space without providing the service itself, it is treated as an intermediary, and the place of supply will be within India. | जल्द आ रहा है | ||
| 2024-09-10 | Amendment to Companies (Compromises, Arrangements, and Amalgamations) Rules, 2024 | The Ministry of Corporate Affairs has introduced amendments to the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016, effective from September 17, 2024. The update simplifies the process for mergers between foreign holding companies and their Indian wholly owned subsidiaries. The amendment mandates prior approval from the Reserve Bank of India, compliance with Section 233 of the Companies Act, and additional procedural steps during the application process to the Central Government. | जल्द आ रहा है | ||
| 2024-09-10 | Amendment to Indian Accounting Standards (Ind AS) Rules, 2024 | The Ministry of Corporate Affairs has issued the Companies (Indian Accounting Standards) Second Amendment Rules, 2024, effective from the date of publication. This amendment revises the application of Ind AS 116 concerning leaseback transactions. It introduces new clauses to ensure that seller-lessees do not recognize gains or losses from the right-of-use assets retained during such transactions. Additionally, the rules provide guidelines on lease liabilities, payments, and the treatment of transactions involving the sale and leaseback of assets. These amendments aim to improve transparency and accuracy in accounting practices related to leases?. | जल्द आ रहा है | ||
| 2024-09-03 | GST Portal Introduces New Invoice Management System (IMS) Starting Oct 1, 24 | GSTN has announced the launch of Invoice Management System (IMS) on GST portal, effective from Oct 1, 2024. This new feature aims to enhance the ITC process by allowing taxpayers to accept, reject, or keep supplier invoices pending directly on portal. If no action is taken on an invoice, it will be "Deemed Accepted" and included in the GSTR-2B for ITC claims. The IMS also facilitates direct corrections and amendments to invoices, helping to prevent mismatches and ensuring accurate ITC claims. This update represents a significant improvement in the GST compliance ecosystem, reducing errors and streamlining the tax filing process. | जल्द आ रहा है | ||
| 2024-08-30 | CBDT Introduces e-Dispute Resolution Scheme, 2022 to Streamline Tax Dispute Resolution | CBDT has rolled out the e-Dispute Resolution Scheme (e-DRS) 2022, under Section 245MA of the IT Act, 1961. This initiative aims to reduce litigation by providing eligible taxpayers an electronic platform to resolve disputes through Dispute Resolution Committees (DRCs) established across all Principal Chief Commissioner of Income Tax (Pr. CCIT) regions.
The scheme applies to specified orders where the tax variation does not exceed ?10 lakh, and the returned income is within ?50 lakh. The DRCs can modify orders, reduce or waive penalties, and must pass resolutions within six months. Taxpayers can file applications using Form 34BC on the Income Tax Department's e-filing portal, with a final deadline of 30th September 2024 for specified appeals. | जल्द आ रहा है | ||
| 2024-08-23 | Furnishing Bank Account Details Mandatory Before Filing GSTR-1/IFF | Starting from September 1, 2024, taxpayers will be required to furnish valid bank account details in their GST registration before filing GSTR-1 or using the Invoice Furnishing Facility (IFF) for the tax period August 2024 onwards. This enforcement follows Rule 10A of the Central Goods and Services Tax Rules, 2017. Taxpayers who have not yet updated their bank account information are advised to do so by navigating to Services > Registration > Amendment of Registration Non-Core Fields on the GST portal. Failure to comply will prevent the filing of GSTR-1 or IFF. | जल्द आ रहा है | ||
| 2024-08-23 | New RCM Liability/ITC Statement for Enhanced Transparency in GST Filing | Effective August 2024, a new "RCM Liability/ITC Statement" has been introduced on the GST Portal to improve accuracy in reporting Reverse Charge Mechanism (RCM) transactions. This statement captures RCM liability and corresponding ITC claims in GSTR-3B, ensuring better compliance.
Taxpayers can report their RCM ITC opening balances until October 31, 2024, with amendment opportunities available until November 30, 2024. The statement applies to monthly filers starting from August 2024 and to quarterly filers from the July-September 2024 period. Navigation: To access the RCM Liability/ITC Statement, navigate to: Services >> Ledger >> RCM Liability/ITC Statement. | जल्द आ रहा है | ||
| 2024-08-21 | Clarification on the Requirement for Income-Tax Clearance Certificate (ITCC) | The Central Board of Direct Taxes (CBDT) has issued a clarification regarding the Income-Tax Clearance Certificate (ITCC) requirement, following misinformation that all Indian citizens must obtain an ITCC before leaving the country. This is incorrect. The clarification states that only in specific circumstances such as involvement in serious financial irregularities or pending direct tax arrears exceeding Rs. 10 lakh, is the ITCC necessary. These provisions have been in place since 2003, and the recent amendment in 2024 has not changed the general applicability of the rule. | जल्द आ रहा है | ||
| 2024-08-15 | Amendment to National Financial Reporting Authority (Appointment of Part-Time Members) Rules, 2024 | The Ministry of Corporate Affairs has issued a notification dated August 13, 2024, to amend the National Financial Reporting Authority appointment of part-time members, Rules, 2022. The amendment specifically replaces the names listed under serial numbers (8) and (9) in the principal rules with the new appointees: Shri Sanjay Kallapur and Professor R. Narayanswamy. This amendment takes effect immediately upon publication in the Official Gazette?. | जल्द आ रहा है | ||
| 2024-08-13 | Delegation of Foreign Company Registration to Central Registration Centre (CRC) | The Ministry of Corporate Affairs has issued a notification on 12th August 2024, amending the Companies (Registration of Foreign Companies) Rules, 2014. Effective from 9th September 2024, the power to register foreign companies is delegated from the respective Registrars of Companies (RoCs) to the Central Registration Centre (CRC). This change aims to centralize and streamline the registration process by requiring all registration documents for foreign companies to be submitted to the CRC, enhancing efficiency and consistency in handling such registrations. | जल्द आ रहा है | ||
| 2024-08-12 | Second Special All-India Drive Against Fake GST Registrations | (CBIC) has initiated a second special All-India drive to combat fake GST registrations, starting from August 16, 2024, and lasting for two months. Building on the success of the previous drive, this effort aims to identify and eliminate suspicious GSTINs using advanced data analytics. Coordinated action by Central and State tax authorities will involve rigorous verification, suspension, and cancellation of fraudulent registrations, ensuring the protection of government revenue. A comprehensive reporting mechanism will monitor progress and share findings with relevant authorities. | जल्द आ रहा है | ||
| 2024-08-12 | Upcoming Expansion of TCS Under Sec 206C(1F) to Luxury Goods Starting Jan 25 | The Central Government has announced a significant amendment to Section 206C(1F) of the Income Tax Act, effective from January 1, 2025. Previously limited to motor vehicles, the scope of TCS (Tax Collected at Source) under this section will be broadened to include other notified luxury goods where the transaction value exceeds ?10 lakh. This change aims to enhance tax compliance and better track high-value transactions involving luxury items. The specific goods falling under this expanded TCS provision will be notified by the Central Government in due course. | जल्द आ रहा है | ||
| 2024-08-06 | The Centre may offer an option to calculate LTCG tax on property and pay a lower tax under certain conditions. | In a significant relief for taxpayers, government proposed amendments to the Finance Bill 2024 on Tuesday, allowing assessees to choose between computing taxes at 12.5% without indexation or 20% with indexation on real estate transactions under specific conditions. According to the amendments, individual taxpayers or Hindu Undivided Families (HUF) who purchased residential property before 23rd July 24 can select either tax computation method. FM Nirmala Sitharaman is expected to present the amended Bill in Parliament on Thursday. | जल्द आ रहा है | ||
| 2024-08-06 | Limited Liability Partnership (Amendment) Rules, 2024 | जल्द आ रहा है | |||
| 2024-08-06 | GSTN Updates for UPI and Credit/Debit Cards Payment Method | GSTN has partnered with Axis Bank and Karnataka Bank to enhance its payment systems. New Payment Updates: 1. HDFC Bank now supports UPI payments. 2. Axis Bank now supports both credit/debit card and UPI payments. 3. Karnataka Bank is now live with UPI payments. | जल्द आ रहा है | ||
| 2024-08-06 | Non-applicability of Higher Rate of TDS/TCS in Case of Deceased Taxpayers | CBDT Circular No. 08/2024, issued on August 5, 2024, states that higher rates of TDS/TCS will not apply if a taxpayer died before May 31, 2024, and couldn't link their PAN with Aadhaar. Standard tax deduction/collection rules will apply to transactions made before March 31, 2024. | जल्द आ रहा है | ||
| 2024-08-06 | Establishment of E-Adjudication Platform | MCA has notified amendment to Adjudication of Penalties Rules. with effect from 16th September 2024, Adjudication Platform will be operative and all proceedings of adjudicating officer & RD will be conducted electronically on this platform. | जल्द आ रहा है | ||
| 2024-07-31 | Establishment and Constitution of Goods and Services Tax Appellate Tribunal (GSTAT) | Central Government has officially established Goods and Services Tax Appellate Tribunal (GSTAT) effective from September 1, 2023, following recommendations from the GST Council. This notification details the creation of the Principal Bench at New Delhi and specifies the formation of state benches across various states in India. The Principal Bench will oversee GST-related appeals, while state benches will handle appeals at the regional level, with some functioning as circuit benches. Each bench will consist of judicial and technical members to ensure comprehensive adjudication. The notification supersedes earlier ones dated Dec 29, 23, and Sep 14, 23, while maintaining actions taken before this supersession. | जल्द आ रहा है | ||
| 2024-07-15 | CBIC Clarifies GST Rates for Various Goods and Services | CBIC has issued Circular No. 229/23-24-GST, providing clarification on GST rates applicable to various goods and services. This circular aims to ensure uniformity in the application of GST rates and address common queries related to rate discrepancies. It covers specific items, services, and any recent rate changes or updates, enhancing compliance and understanding among taxpayers. Key changes include revised GST rates for raw cotton, imitation zari thread, and extruded snack pellets. | जल्द आ रहा है | ||
| 2024-07-16 | MCA Announces Waiver of Fees and One-Time Relaxation for IEPF Forms | The Ministry of Corporate Affairs (MCA) has issued General Circular No. 05/2024, dated July 16, 2024, to facilitate the transition from MCA 21 V2 to MCA 21 V3. The circular waives additional fees for filing various IEPF e-forms (IEPF-1, IEPF-1A, IEPF-2, IEPF-4) and e-verification of claims in e-form IEPF-5 until August 16, 2024. Additionally, a one-time relaxation for e-verification under Rule 7(3) of the IEPFA Rules has been provided until the same date. Stakeholders are advised to plan accordingly. Reference: General Circular No. 05/2024, MCA, dated July 16, 2024. | जल्द आ रहा है | ||
| 2024-07-16 | MCA: Update Mobile Number & Email via DIR-3 KYC for Rs 500 | The Ministry of Corporate Affairs (MCA) has recently introduced an update that allows directors to update their mobile numbers and email IDs by filing Form DIR-3 KYC. This update process, which involves a fee of Rs. 500, ensures that directors' contact information remains current and accurate. | जल्द आ रहा है | ||
| 2024-07-16 | MCA Notification: The Companies (Incorporation) Amendment Rules, 2024 | The Ministry of Corporate Affairs (MCA) has issued notification on 16th July 2024, amending the Companies (Incorporation) Rules, 2014. The amendment includes:
Omission of "Nidhi" from clause (p) in Rule 8A. Removal of clause (v) in Rule 8A, which required Nidhi companies to include "Nidhi Limited" in their names. This means no additional declarations for using the term "Nidhi" and no compulsion for Nidhi companies to use "Nidhi Limited" in their names, simplifying the incorporation process. | जल्द आ रहा है | ||
| 2024-07-15 | MCA Notification: The Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024 | The MCA has amended the order requiring specified companies to report detailed payment information to micro and small enterprise suppliers. Companies must now include specifics such as supplier details, payment timelines, and outstanding amounts in an attached Excel sheet. This aims to enhance transparency and ensure timely payments to MSEs. | जल्द आ रहा है | ||
| 2024-07-15 | MCA Notification: The Companies (Significant Beneficial Owners) Amendment Rules, 2024 | The Ministry of Corporate Affairs (MCA) has introduced the Companies (Significant Beneficial Owners) Amendment Rules, 2024, to improve transparency in the identification and reporting of significant beneficial owners (SBOs). Key changes include the mandatory designation of an SBO Officer, the requirement for SBOs to declare their ownership using Form BEN-1, and the obligation for companies to maintain a register of SBOs and file returns using Form BEN-2. These amendments aim to strengthen compliance and corporate governance practices within companies. | जल्द आ रहा है | ||
| 2024-07-12 | Amendments to Central Tax Rates for Packaging Materials | Notification Number: 02/2024-Central Tax (Rate) Dated: 12/07/2024 Summary: This notification, under the Central Goods and Services Tax Act, updates the tax rates for specific packaging materials. It sets a 6% tax rate under Schedule II for cartons, boxes, and cases made from corrugated or non-corrugated paper or paperboard. The relevant HSN codes are 4819 10 and 4819 20. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Lowers TCS Rate to 0.5% for E-Commerce Operators | The CBIC has reduced the Tax Collected at Source (TCS) rate from 1% to 0.5% for e-commerce operators. This adjustment, effective from July 10, 2024, applies to the net value of intra-State and inter-State taxable supplies. This change aims to ease the compliance burden on e-commerce businesses and aligns with the recommendations of the 53rd GST Council meeting.
Reference: Notification No. 15/2024-Central Tax dated July 10, 2024 Notification No. 01/2024-Integrated Tax dated July 10, 2024 | जल्द आ रहा है | ||
| 2024-07-10 | Mandatory Aadhaar Authentication for GST Registration Across India | The CBIC has mandated Aadhaar authentication for GST registration for applicants in all States and Union territories. This process includes biometric-based Aadhaar authentication and document verification at designated GST Suvidha Kendras. This measure aims to enhance the security and integrity of the GST registration process.
Reference: Notification No. 12/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Exempts Small Taxpayers from Filing Annual GST Returns | The CBIC has exempted registered persons with an aggregate turnover of up to Rs. 2 crore in the financial year 2023-24 from filing annual returns in FORM GSTR-9. This measure, effective from FY 2023-24 onwards, aims to reduce the compliance burden for small taxpayers.
Reference: Notification No. 14/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | New Requirement: Photograph and Document Verification for GST Registration | The CBIC has notified that applicants for GST registration who do not opt for Aadhaar authentication must upload a photograph and present the original documents for verification. This applies to applications submitted through FORM GST REG-01. The process ensures robust identification and compliance verification.
Reference: Notification No. 12/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Updates Interest Calculation for Delayed GST Return Filing | The CBIC has amended Rule 88B of the CGST Rules to ensure that interest on delayed filing of GST returns is calculated based on the net tax liability. Specifically, any amount available in the Electronic Cash Ledger on the due date of filing GSTR-3B and debited while filing the return will not be included in the interest calculation. This change aims to provide clarity and reduce the interest burden on taxpayers.
Reference: Notification No. 12/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | New Deadline for Filing FORM GSTR-4 Announced by CBIC | CBIC has mandated that taxpayers under the Composition Levy scheme must file their annual return in FORM GSTR-4 by June 30th of the following financial year. This new deadline applies starting from the financial year 2024-25, allowing more time for compliance.
Reference: Notification No. 12/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Updates Rules for Input Tax Credit Distribution by ISD | CBIC, via Notification No. 12/2024-Central Tax dated July 10, 2024, has revised procedures for distributing input tax credit (ITC) by Input Service Distributors (ISD). Key updates include: 1) Monthly Distribution: ITC for a month must be distributed within that month, detailed in FORM GSTR-6. 2) Transitional Credit: Allows transitional credit for pre-July 1, 2017 services with invoices received before the appointed date. 3) Recipient-Specific Distribution: ITC must be distributed based on each recipient's turnover. 4) ISD Invoices and Credit Notes: Mandates issuing ISD invoices and credit notes for ITC adjustments. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Updates Rules for Appeals and Applications to the Appellate Tribunal | The CBIC has amended rules for filing appeals and applications to the Appellate Tribunal. These changes include procedures for filing electronic cross-objections in FORM GST APL-06 and applications for withdrawal in FORM GST APL-05/07W. Appeals are considered filed only when a final acknowledgment is issued in FORM GST APL-02. These updates streamline the appeal process and ensure proper documentation and tracking. Reference: Notification No. 12/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Updates Voluntary Tax Payment Procedures | CBIC has updated procedures for voluntary tax payments. When a taxpayer pays under Section 73(5) or 74(5) of the CGST Act, they must inform the proper officer using FORM GST DRC-03. An acknowledgment will be provided electronically in FORM GST DRC-04. If partial payment is made or arguments are submitted, FORM GST DRC-01A will be used. Payments made through FORM GST DRC-03 can be credited using FORM GST DRC-03A. However, if proceedings conclude with FORM GST DRC-05, FORM GST DRC-03A cannot be filed for that payment. | जल्द आ रहा है | ||
| 2024-07-10 | New Provision for E-Way Bill Generation by Unregistered Persons | The CBIC has introduced a new provision allowing unregistered taxable persons to generate an E-way Bill in FORM GST EWB-01. Effective from a date yet to be notified, unregistered persons can generate the E-way Bill either directly on the GST Portal by submitting details electronically in FORM GST ENR-03 or through a Facilitation Centre. This amendment, by inserting the fourth proviso to sub-rule (3) of Rule 138 of the CGST Rules, aims to streamline the movement of goods with consignment values exceeding Rs. 50,000. | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Amends Valuation Rules for Corporate Guarantees | CBIC has retrospectively amended Rule 28(2) of the CGST Rules to address the valuation of corporate guarantees provided between related parties, including those given to banking companies. Effective from October 26, 2023, the value of such services is the higher of 1% of the guarantee amount or the actual consideration paid. This amendment aims to bring clarity and uniformity in the valuation process under GST.
Reference: Notification No. 12/2024 to 15/2024-Central Tax dated July 10, 2024 | जल्द आ रहा है | ||
| 2024-07-10 | New Facility: Amend GSTR-1 with Ease Using FORM GSTR-1A | The CBIC has introduced FORM GSTR-1A to allow taxpayers to amend or add details to their GSTR-1 for a tax period before filing GSTR-3B. This new form helps ensure accurate tax liability calculation, reducing errors and fostering a streamlined compliance process.
Reference: Notification No. 12/2024-Central Tax dated July 10, 2024. | जल्द आ रहा है | ||
| 2024-07-10 | New GST Rule: Lower Threshold for B2C Inter-State Supply Reporting | The CBIC has amended the threshold for reporting B2C inter-state supplies in Table 5 of FORM GSTR-1. The new limit is reduced from Rs. 2.5 lakh to Rs. 1 lakh per invoice. This change is applicable from August 1, 2024, and aims to enhance the accuracy of reporting and improve compliance. Reference: Notification No. 12/2024 -Central Tax dated July 10, 2024 | जल्द आ रहा है | ||
| 2024-07-10 | CBIC Clarifies Refund Process for Additional Integrated Tax on Exported Goods | CBIC has outlined the procedure for refunding additional Integrated Tax due to price revisions of exported goods. Exporters can now file for refunds electronically in FORM GST RFD-01 through the common portal. This applies when the price of goods is revised upward post-export, and the initial tax amount has already been refunded. This aims to facilitate a substantial number of taxpayers obligated to pay additional IGST due to post-export price revisions, enabling them to claim refunds for additional IGST payments. | जल्द आ रहा है | ||
| 2024-07-10 | GST Exemption for Accommodation Services: Relief for Students and Professionals | The CBIC exempts accommodation services up to Rs. 20,000 per month per person if provided for a continuous period of at least 90 days. This exemption benefits hostels and co-living spaces catering to students and working professionals, providing financial relief and clarity on GST applicability.
Reference: Notification No. 04/2024-Central Tax (Rate) dated July 12, 2024. | जल्द आ रहा है | ||
| 2024-07-12 | New GST Rule: File Returns Promptly to Avoid Cancellation | CBIC has introduced Clause (ga) to Rule 21 of the CGST Rules, enforcing strict timelines for filing returns after revocation of GST registration:
File All Pending Returns: Submit all returns from the date of cancellation to the date of revocation within 30 days of the revocation order. Retrospective Cancellation: If cancellation is retroactive, file all returns from the effective date of cancellation to the date of revocation within the same 30-day period. Non-compliance Consequences: Failure to comply will result in the re-cancellation of GST registration under the new rule. | जल्द आ रहा है | ||
| 2024-06-28 | MCA is launching third set of Company Forms covering 9 forms | Ministry of Corporate Affairs is launching third set of Company Forms covering 9 forms [MSME, BEN-2, MGT-6, IEPF-1, IEPF-1A, IEPF-2, IEPF-4, IEPF-5, IEPF-5 e-verification report] on 15th July 2024 at 12:00 AM. In view of the upcoming launch of 9 Company forms, V3 portal will not be available from 13th July 20204 12:00 AM to 14th July 2024 11:59 pm. V2 Portal for company filing will remain available for all the V2 forms excluding above mentioned 9 forms. | जल्द आ रहा है | ||
| 2024-06-26 | ITC for Insurance Companies on Motor Vehicle Repairs | CBIC's Circular No. 217/11/2024-GST clarifies that insurance companies can claim Input Tax Credit (ITC) for motor vehicle repair expenses in reimbursement claim settlements. ITC is available when garages issue invoices in the insurance company's name, and the company reimburses the insured. Insurance companies are considered the recipient of these services, making ITC permissible under Section 17(5) of the CGST Act. | जल्द आ रहा है | ||
| 2024-06-26 | CBIC Clarifies Time of Supply for Spectrum Usage Services | CBIC issued Circular No. 222/16/2024-GST on June 26, 2024, clarifying the time of supply for services related to spectrum usage under GST. Key points include: Upfront Payments: GST is payable when the payment is made or due, whichever is earlier. Deferred Payments: For installment payments, GST is payable on each installment's due date or when payment is made, whichever is earlier. Continuous Supply of Services: Spectrum usage is considered a continuous supply of services, aligning GST application with periodic payment obligations specified in contracts. | जल्द आ रहा है | ||
| 2024-06-26 | CBIC Clarifies Place of Supply for Custodial Services to Foreign Portfolio Investors | CBIC issued Circular No. 220/14/2024-GST on June 26, 2024, clarifying the place of supply for custodial services provided by banks to Foreign Portfolio Investors (FPIs). These services are not treated as services provided to an 'account holder' under Section 13(8)(a) of the IGST Act. Instead, the place of supply is determined by the location of the recipient of services under Section 13(2) of the IGST Act, 2017. | जल्द आ रहा है | ||
| 2024-06-26 | GST taxability of loan transactions between an overseas affiliate and its Indian affiliate | CBIC issued Circular No. 218/12/2024-GST on June 26, 2024, clarifying the taxability of loan transactions between an overseas affiliate and its Indian affiliate or between related persons. When a loan is provided without any additional consideration besides interest or discount, it does not constitute a supply of service and is not subject to GST. | जल्द आ रहा है | ||
| 2024-06-26 | CBIC Clarifies GST and ITC on Warranty Services | CBIC's Circular No. 216/10/2024-GST clarifies GST liability and ITC on warranty and extended warranty services. Key points include: Clarifications apply to both parts and goods replacement under warranty. No GST or ITC reversal is required when distributors replace goods under warranty and are later replenished by the manufacturer. Extended warranties supplied separately from goods are treated as distinct services. | जल्द आ रहा है | ||
| 2024-06-26 | CBIC Clarifies Time Limit for ITC on RCM Supplies from Unregistered Persons | CBIC issued Circular No. 211/5/2024-GST on June 26, 2024, clarifying the time limit for availing Input Tax Credit (ITC) on Reverse Charge Mechanism (RCM) supplies from unregistered persons. The time limit under Section 16(4) of the CGST Act, 2017, is linked to the financial year in which the recipient issues the invoice under Section 31(3)(f). ITC can be claimed until November 30 following the end of the financial year to which such invoice pertains, or the due date for furnishing the relevant annual return, whichever is earlier. | जल्द आ रहा है | ||
| 2024-06-26 | CBIC Clarifies Valuation of Imported Services from Related Persons | The CBIC issued Circular No. 210/4/2024-GST on June 26, 2024, clarifying the valuation of import services by related persons where the recipient is eligible for full input tax credit (ITC). According to Rule 28 of the CGST Rules, the value declared in the invoice is deemed the open market value if full ITC is available. If no invoice is issued, the value is deemed Nil. This provision ensures consistent application and helps simplify GST compliance. | जल्द आ रहा है | ||
| 2024-06-26 | New Monetary Limits for Filing Appeals: Streamline Your GST Litigation | The CBIC has issued Circular No. 207/1/2024-GST dated June 26, 2024, to reduce government litigation by setting new monetary thresholds for filing appeals. Appeals before the GST Appellate Tribunal (GSTAT) are now set at a minimum of Rs. 20 lakhs, for High Courts at Rs. 1 crore, and for the Supreme Court at Rs. 2 crores. These limits are designed to optimize judicial resources and provide certainty to taxpayers. | जल्द आ रहा है | ||
| 2024-07-06 | Important Extension for Filing PAS-7 | The Ministry of Corporate Affairs has announced an extension for the submission of Web-Form PAS-7. Public companies that issued share warrants prior to the Companies Act, 2013, and have not yet converted them into shares must now inform the Registrar using Form PAS-7. This extension allows stakeholders to file the required details without additional fees until August 5, 2024. Ensure timely compliance to avoid penalties. Applicable Rule: Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 | जल्द आ रहा है | ||
| 2024-06-28 | File tax audits with Aadhaar OTP | You can now complete the whole process of acceptance of 3CB-3CD & the ITR filing with only Aadhaar OTP verification. You Can Now file tax audits with Aadhaar OTP. There is no need of digital signature. | जल्द आ रहा है | ||
| 2024-06-23 | NEW TAX REGIME is the default regime | For A.Y. 2024-25, NEW TAX REGIME is the default regime for Individual, HUF, AOP (other than co-operative society), BOI, and Artificial Juridical Person.
If you want to opt for the "OLD TAX REGIME" and you are: (i) Eligible to file a return of income in ITR 1 & 2, then select the relevant option directly in ITR and file the return within the applicable due date. (ii) Eligible to file a return of income in ITR 3, 4 & 5, then you MUST file Form 10-IEA before the due date mentioned u/s 139(1). Please compare the tax liability under the New Tax and Old Tax regime before filing the return. | जल्द आ रहा है | ||
| 2024-06-18 | Provisional figures of Direct Tax collections for the Financial Year 2024-25 | Gross Direct Tax collections for the Financial Year (FY) 2024-25 register a growth of 22.19%. Net Direct Tax collections for FY2024-25 grow at over 20.99%. Advance Tax Collections for FY2024-25 stand at Rs. 1,48,823 crore with a growth of 27.34%. Refunds aggregating to Rs. 53,322 crore issued in the current fiscal. - Posted On: 18 JUN 2024 5:59PM by PIB Delhi | जल्द आ रहा है | ||
| 2024-06-06 | Outstanding Demands and Response Popup | The "Outstanding Demand" popup feature has been activated on the Income Tax Portal. Now, whenever you log in, a popup will appear notifying you of any outstanding demands and will directly redirect you to the "Response to Outstanding Demand" page. Popup reads as - "Outstanding Demand There are outstanding demand(s) in your case. You are requested to provide your response(s) immediately. Please ignore this message if you have already given your response(s)." | जल्द आ रहा है | ||
| 2024-05-24 | Cost Inflation Index for FY 2024-25 | The Department of Revenue and Central Board of Direct Taxes under The Ministry of Finance , has issued a notification numbered S.O. 2103(E) that adds the Cost Inflation Index (CII) value for the Financial Year 2024-25. The newly added CII value is set at 363. This notification, effective from April 1, 2025, applies to the assessment year 2025-26 and subsequent years. This document is an amendment to the initial notification published on June 5, 2017, under S.O. 1790(E), specifically adding a new entry to the series of indices previously published in the Gazette of India. | जल्द आ रहा है | ||
| 2024-05-13 | Enhanced Transparency and Taxpayer Services through New AIS Functionality | CBDT has announced a new functionality in the Annual Information Statement (AIS) that will significantly increase transparency and improve services for taxpayers. This update allows taxpayers to provide feedback on each financial transaction displayed in AIS, which may have tax implications. If any discrepancies are found, feedback can be communicated to source of information for confirmation.
It will display status of the information confirmation process, including whether the feedback has been shared with the reporting source, the date on which the source responded, and the source's response, which may require further corrections. This aims to facilitate better compliance and enhance quality of taxpayer services by ensuring that all financial data reflected in AIS is accurate and verified. | जल्द आ रहा है | ||
| 2024-05-03 | Guidelines for Compulsory Selection of Income Tax Returns for Complete Scrutiny in FY 2024-25 | The document from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, issued on May 3, 2024, outlines the guidelines for the compulsory selection of income tax returns for complete scrutiny for the financial year 2024-25.
The document is issued to all Principal Chief Commissioners of Income-tax, Chief Commissioners of Income-tax, Principal Director Generals of Income-tax, and Director Generals of Income-tax. | जल्द आ रहा है | ||
| 2024-05-07 | Relaxation of Additional Fees for LLPs and Extension of Filing Deadlines | The Government of India's Ministry of Corporate Affairs has issued a circular announcing the relaxation of additional fees and the extension of the last filing date for Form No. LLP BEN-2 and Form No. 4D under the Limited Liability Partnership Act, 2008. This circular notifies that Limited Liability Partnerships (LLPs) can file Form No. LLP BEN-2 Form No. 4D without incurring any additional fees until July 1, 2024. The decision is part of a transition to a new version of the MCA-21 system and aims to enhance compliance among LLPs. The update has been approved by the competent authority and is detailed in General Circular No. 03/2024. | जल्द आ रहा है | ||
| 2024-05-01 | Appointment of President in GST Appellate Tribunal | The Appointments Committee of the Cabinet has approved the appointment of Justice (Retd) Sanjaya Kumar Mishra as the President of the Goods and Services Tax Appellate Tribunal. This appointment was based on the recommendation of the Chief Justice, High Court of Jharkhand. Justice Mishra is appointed at a salary of Rs. 250,000 per month, for a term of 4 years or until he reaches the age of 70, whichever is earlier. The document is signed by Ramesh Chandra Jha, Under Secretary to the Government of India, and is addressed to various departments including the Prime Ministers Office. | जल्द आ रहा है | ||
| 2024-04-25 | CBDT Extends Deadline for Form 10A/10AB Filing | The Central Board of Direct Taxes (CBDT) has officially extended the deadline for filing Form 10A and Form 10AB to June 30, 2024, according to Circular No. 07/2024. This extension is to alleviate hardships faced by taxpayers, following multiple prior extensions. Trusts, institutions, and funds that had not filed for AY 2022-23 can use this opportunity to adjust their filings or reapply. The extension applies to provisions under sections 10(23C), 12A, 80G, and 35 of the Income-tax Act. All relevant applications must be filed electronically via the e-filing portal of the Income Tax Department. This announcement aims to address issues faced due to late or incorrectly filed applications in the past. | जल्द आ रहा है | ||
| 2024-04-23 | Easing TDS Compliance for Transactions with Inoperative PANs | CBDT issued Circular No. 6 on April 23, 2024, offering relief to deductors/collectors who faced challenges due to the requirement of collecting TDS/TCS at a higher rate for inoperative PANs not linked to Aadhaar by April 1, 2023. The circular states that for transactions up to March 31, 2024, there will be no liability for deductors/collectors who deducted at the normal rate, provided the deductees PAN is linked to Aadhaar by May 31, 2024, making it operative. This provides respite from notices issued for tax shortfall due to inoperative PANs. For future transactions starting April 1, 2024, deductors are advised to ensure the deductees PAN is linked to Aadhaar to avoid the higher tax rate. The circular also encourages prompt action in response to any notices received for short deduction due to this issue. | जल्द आ रहा है | ||
| 2024-04-23 | Relief Measures for Tax Deductors and Collectors with Inoperative PANs | The Ministry of Finance issued Circular No. 6/2024 on April 23rd, modifying Circular No. 3/2023 regarding the consequences of having an inoperative PAN under Income-tax Rules. It clarifies transactions from March 28th, 2023, to March 31st, 2024, won't incur liability if the PAN becomes inoperative. The circular addresses grievances from taxpayers about penalties while their PANs were inoperative. It specifies no penalty for default in such cases, easing the burden on deductors/collectors. The circular ensures no liability for TDS/TCS default related to inoperative PANs in the specified period. A Hindi version of the circular will follow. | जल्द आ रहा है | ||
| 2024-04-08 | Deactivation of ESIC account on MCA | Companies registered through the MCA portal for the ESIC with less than 10 employees can deactivate their account for the next 6 months. This deactivation must be completed within 6 months of the company's incorporation. The deactivation period can be extended for another 6 months until the company reaches 10 or more employees. If a company fails to undertake this deactivation process, its status will remain active, and the company must comply with the ESIC regulations. | जल्द आ रहा है | ||
| 2024-04-11 | Recommended Extension of GSTR-1 due date to 12th April 2024 | GSTN has noticed that taxpayers are facing difficulties in filing GSTR-1 intermittently since yesterday due to technical issues leading to slow response on the portal. GSTN has accordingly recommended to CBIC that the due date for filing of GSTR-1 for the monthly taxpayers be extended by a day ie till 12/4/24. | जल्द आ रहा है | ||
| 2024-04-09 | Advisory: Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1 | Dear Taxpayers, 1.GSTN is pleased to inform that a new feature to auto-populates the HSN-wise summary from e-Invoices into Table 12 of GSTR-1 is now available on the GST portal. This allows for direct auto-drafting of HSN data into Table 12 based on e-Invoice data. 2.Please note that the HSN-wise summary data auto-populated into Table 12 is intended for your convenience. Please ensure that you reconcile the data with your records before its final submission.3.Any discrepancies or errors should be manually corrected or added in Table 12 before final submission. | जल्द आ रहा है | ||
| 2024-04-05 | Updated Verification Process for Income Tax Returns | The Income Tax Department has issued a corrigendum to Notification No. 02 of 2024, clarifying the verification process for Income Tax Returns (ITRs). Initially, taxpayers were given a 30-day window from the date of electronically transmitting their ITR data for verification. As per the corrigendum, the verification will be considered valid if it is not done within 30 days from the date of uploading but is completed by the due date for furnishing the return of income as per the Income-tax Act, 1961, whichever is later. Returns not verified within these time frames will be treated as invalid due to non-verification. | जल्द आ रहा है | ||
| 2024-04-03 | Mandatory e-Invoicing Advisory for Taxpayers | The Goods and Service Tax Network (GSTN) has issued an advisory dated 3rd April 2024, mandating e-Invoicing for taxpayers with a turnover exceeding INR 5 crores in the financial year 2023-2024. This requirement will be in effect from 1st April 2024 and will continue in subsequent years if the threshold is crossed. Taxpayers who are eligible but have not yet enrolled can self-enable e-Invoicing on the GST portal. They are directed to report through one of the four new Invoice Registration Portals (IRPs), specifically e-Invoice IRP 3 to e-Invoice IRP 6. Additionally, e-Invoices through NIC IRP 1 & 2 can be reported by self-enabling at two specific URLs. For assistance, taxpayers can contact the GST helpdesk or log a ticket on the GST self-service portal. | जल्द आ रहा है | ||
| 2024-04-05 | ITR Verification - Date on which Duly Verified ITR-V is RECEIVED | Verification of ITR - 30 Days from submitting ITR. Important Change in 30 Days time in case of ITR-V! As per Law earlier DATE OF DISPATCH was to be considered for 30 Days time period - NNo. 05/2022 Now the DATE ON WHICH DULY VERIFIED ITR-V IS RECEIVED BY CPC shall be considered for determining 30 Days - NNo. 2/2024 dt. 31/03/2024 | जल्द आ रहा है | ||
| 2024-03-29 | Streamlined DGGI Investigation Guidelines | DGGI sets new investigation guidelines post annual conference. Guidelines aim for ease of doing business and resource optimization. All-India jurisdiction granted for GST and Central Excise investigations. Clear jurisdiction rules to avoid overlapping investigations. High-level approvals needed for sensitive or out-of-jurisdiction cases. Emphasis on taxpayer convenience in multi-state investigations. Summons use restricted to avoid unnecessary taxpayer burden. Efforts towards quicker resolutions and grievance redressal enhanced. | जल्द आ रहा है | ||
| 2024-03-28 | MCA Advisory on CSR-2 | MCA Advisory - March 28, 2024
(On MCA website)
1. All eligible companies are requested to file e-form CSR-2 for the financial year 2022-23 on or before due date i.e. 31.03.2024 to avoid penal action by the Ministry of Corporate Affairs. Please ignore, if already filed. 2. All eligible companies are requested to incur prescribed CSR expenditure pursuant to Section 135 of the Companies Act, 2013 read with Companies (CSR Policy) Rules, 2014 on or before closing of the current financial year i.e. 31.03.2024 to avoid penal action by the Ministry of Corporate Affairs. Please ignore, if already complied. | जल्द आ रहा है | ||
| 2024-03-21 | Be ready as No rollback of 43B(h) | There has been no rollback of Income Tax Section 43B(h) as might have been expected. This means that for AY starting from April 1, 2024, businesses engaging in transactions with enterprises registered under the MSMED Act, 2006, need to adhere strictly to the provisions of this section. Thus, every businessman should prepare to comply with these rules, ensuring timely payments for purchases or services from Micro and Small Enterprises (MSMEs) to avoid disallowance of such expenses for income tax purposes. This development underscores the importance of financial discipline. | जैसा कि उम्मीद की जा रही थी, आयकर अधिनियम की धारा 43B(h) को वापस नहीं लिया गया है। इसका मतलब है कि 1 अप्रैल, 2024 से शुरू होने वाले AY के लिए, उन व्यवसायियों को, जो MSMED अधिनियम, 2006 के तहत पंजीकृत उद्यमों के साथ लेनदेन करते हैं, इस धारा के प्रावधानों का कड़ाई से पालन करना होगा। इसलिए, हर व्यवसायी को इन नियमों का पालन करने के लिए तैयार होना चाहिए, सुनिश्चित करें कि माइक्रो और लघु उद्यमों (MSMEs) से की गई खरीद या सेवाओं के लिए समय पर भुगतान किया जाए, ताकि ऐसे खर्चों को आयकर प्रयोजनों के लिए अस्वीकार न किया जाए। इस विकास से वित्तीय अनुशासन के महत्व को रेखांकित किया गया है। | ||
| 2024-03-18 | Income Tax Offices Open During Year-End: CBDT Directive | The Central Board of Direct Taxes (CBDT) has issued a directive, as per the order under section 119 of the Income-tax Act, 1961, stating that all Income Tax Offices throughout India will remain operational on 29th, 30th, and 31st March 2024. This decision has been taken to facilitate the completion of pending departmental work as the Financial Year 2023-24 draws to a close on 31st March, which is a Sunday. Moreover, 29th March is a closed holiday and 30th March is a Saturday. The directive ensures administrative convenience and the proper closing of the financial year. | जल्द आ रहा है | ||
| 2024-03-13 | SMEs should get printed the MSE status on their letter heads | OM No. 2(28)/2007-MSME(Pol), dated 26-8-2008 had stated that it is advisable that the Micro or Small Enterprises should mention/get printed on their letter heads, supply order sheets, invoices, bills and relevant documents, the Entrepreneurs Memorandum (EM) number.., so that there always remains an identification of being an MSE supplier.
This will be helpful for compliance of section 43B(h) of IT Act, 1961. | जल्द आ रहा है | ||
| 2024-03-12 | Delhi Court Sentences Woman to Jail for non-filing of ITR | In a significant judgment, a Delhi Court has sentenced Savitri to a six-month imprisonment for not filing her tax return on an income amounting to Rs. 2 crores. This verdict comes after the Income Tax Office filed a complaint, emphasizing the serious consequences of evading taxes. The court, led by ACMM Mayank Mittal, aimed to set an example to underscore the importance of adhering to tax deadlines. Despite arguments made regarding her being a widow and uneducated, the court maintained that adherence to the law takes precedence. This ruling serves as a stark reminder of the importance of fulfilling tax obligations in society. | जल्द आ रहा है | ||
| 2024-03-12 | Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables | It is informed to all taxpayers that as per Notification No. 26/2022 - Central Tax dated 26th December 2022 two new Table 14A and Table 15A have been introduced in GSTR-1 to capture the amendment details of the supplies made through e-commerce operators (ECO) on which e- commerce operators are liable to collect tax under section 52 or liable to pay tax u/s 9(5) of the CGST Act, 2017. These tables have now been made live on the GST common portal and will be available in GSTR- 1/IFF from February 2024 tax period onwards. These amendment tables are relevant for those taxpayers who have reported the supplies in Table 14 or Table 15 in earlier tax periods. | जल्द आ रहा है | ||
| 2024-03-07 | Guidelines for Priority Disposal of Appeals by Income Tax Authorities | CBDT has issued revised guidelines for the expedited disposal of pending appeals by Chief Commissioners of IT (CCsIT), Principal Director Generals of IT (Pr.DGsIT), and other relevant authorities. These guidelines replace a previous directive dated December 29, 2021. The new framework allows for out-of-turn disposal of appeals under specific circumstances, including cases with demands exceeding Rs. 1 crore, appeals accompanied by VIP/PMO references, those directed by courts, appeals from senior citizens, and instances of genuine hardship. Additionally, appeals within the purview of faceless Chief Commissioners of IT (Appeals) Units (CsIT(AU)) will be referred to the Principal Chief Commissioner of IT (National Faceless Assessment Centre) (Pr.CCIT (NFAC)) for further action. These guidelines are enacted with the approval of the Chairman of the CBDT, aimed at streamlining the appellate process and ensuring fairness and efficiency in tax administration. | जल्द आ रहा है | ||
| 2024-03-10 | Advance Tax E-Campaign for FY 2023-24 | The Income Tax Department of India is initiating an e-campaign for the financial year 2023-24 to ensure proper tax payment. They have identified individuals and entities whose tax payments do not match their financial transactions. This campaign will inform these taxpayers via email and SMS to encourage correct advance tax payment by March 15, 2024. Information about taxpayers' transactions is sourced to improve transparency and compliance. Taxpayers can view these significant transactions in the Annual Information Statement (AIS) module. To access this, taxpayers must log in to their e-filing account and visit the Compliance Portal. Unregistered users must first sign up on the e-filing website to utilize these services. | जल्द आ रहा है | ||
| 2024-03-05 | Introduction of the Income-tax (Fourth Amendment) Rules, 2024 | The Ministry of Finance, through the CBDT, announced the IT (Fourth Amendment) Rules, 2024, effective from their publication in the Official Gazette. This amendment modifies various clauses in the IT Rules, 1962, including adjustments to the written down value under different sections for specific assessment years and the introduction of new provisions related to expenditure in violation of the law. Additionally, it updates Form No. 3CD, 3CEB, and introduces changes in Form No. 65, particularly in relation to international financial services centre units and the determination of arm's length price in specified domestic transactions. This notification ensures compliance and clarity in tax reporting and deductions, reflecting ongoing updates in tax legislation. | जल्द आ रहा है | ||
| 2024-03-05 | Circular No 2/2024: Audit Report Submission Guidelines for Trusts and Institutions | Circular No. 2/2024 issued by CBDT outlines the revised guidelines for audit report submissions by trusts and institutions claiming exemption under various clauses of the IT Act, 1961. Effective from the AY 2023-24, trusts and institutions with certain income thresholds or receiving foreign contributions are required to submit their audit reports in newly specified forms (Form No. 10B or 10BB), as per the IT (Third Amendment) Rules, 2023. This marks a change from the previous requirements and aims to streamline audit reporting. Due to instances of non-compliance with these new form requirements, the CBDT has granted a one-time relief allowing those affected to submit the correct form by 31 March 2024, ensuring they can still claim exemption for the A.Y. 2023-24. | जल्द आ रहा है | ||
| 2024-03-04 | Enhancing Tax Compliance with E-Verification Initiative | The Indian Income Tax Department is enhancing transparency and compliance by integrating financial transaction data into the AIS module for taxpayer review. Discrepancies identified between filed returns for the financial year 2021-22 and financial transaction information are addressed through the e-Verification Scheme-2021. Taxpayers are being notified via email to reconcile any mismatches and file updated returns or submit them as non-filers if necessary, as per section 139(8A) of the Income-tax Act, 1961. The deadline for updated submissions for A.Y. 2021-22 is set for 31st March 2024. | जल्द आ रहा है | ||
| 2024-02-26 | Press release on Implementation of e-Verification Scheme-2021 - Part 2 | Following the implementation of the e-Verification Scheme-2021, CBDT has provided a significant clarification for taxpayers concerning the disclosure of interest income. Taxpayers who have reported their interest income under the 'Others' category in the Schedule OS of their Income Tax Return (ITR) are not required to take any action in response to mismatches related to interest income. This aspect of the scheme ensures that such mismatches will automatically be corrected and updated as 'Completed' on the e-filing portal. This measure is designed to simplify the reconciliation process, allowing taxpayers to easily comply with tax regulations without the need for additional documentation or correction submissions for certain types of income discrepancies. | जल्द आ रहा है | ||
| 2024-02-26 | Press release on Implementation of e-Verification Scheme-2021 - Part 1 | CBDT has introduced the e-Verification Scheme-2021 to address mismatches in interest and dividend income reported by third parties and the Income Tax Returns (ITR) filed by taxpayers. This initiative, aimed at reconciling discrepancies for the Financial Years 2021-22 and 2022-23, utilizes an on-screen functionality on the Compliance portal of the e-filing website. Taxpayers are informed about mismatches through SMS and emails and can directly reconcile these discrepancies on the portal without needing to submit additional documents. The scheme simplifies the process for taxpayers to correct their filings and encourages the use of an Updated Income Tax Return for any underreported income. | जल्द आ रहा है | ||
| 2024-02-20 | CBDT Sanctions Waiver of Outstanding Tax Demands | The Central Board of Direct Taxes (CBDT) has issued an order following the Finance Minister's budget announcement to waive certain outstanding tax demands. This waiver applies to demands under the Income-tax Act, Wealth-tax Act, and Gift-tax Act, as of January 31, 2024. For Assessment Years up to 2010-11, tax demands up to Rs. 25,000 are waived, while for years 2011-12 to 2015-16, the limit is Rs. 10,000 per demand. The total relief for a taxpayer won't exceed Rs. 1 lakh, covering principal tax components, interest, penalty, fees, cess, or surcharge. However, this waiver does not apply to tax deducted at source (TDS) or tax collected at source (TCS) related demands. | जल्द आ रहा है | ||
| 2024-02-20 | National Single Window System | Ministry of Corporate Affairs incorporation related services can also be accessed through the National Single Window System (NSWS) by going through the following link: https://www.nsws.gov.in/ | जल्द आ रहा है | ||
| 2024-02-19 | Implementation of Change Request Form on MCA-21 Platform | The Ministry of Corporate Affairs in India has introduced the Change Request Form (CRF) on the MCA-21 portal, to be used in exceptional situations that cannot be addressed through the portal's standard front or back office services. The CRF is not a general-purpose form and should not replace usual compliance procedures. Applications via CRF will be expedited by the Registrar of Companies, processed within three days, and resolved within a week. This measure is approved by the competent authority to ensure efficient handling of unique cases in corporate regulatory processes. | जल्द आ रहा है | ||
| 2024-01-16 | Section 43B (h): New MSME 45 Days Payment Rule | The newly added clause (h) states that any sum payable by the assessee to a MSME beyond the time limit set in Section 15 of the MSMED Act, 2006, is NOT eligible for deduction. Business enterprises are required to pay MSMEs within 45 days, as per section 15 of the MSMED Act, 2006, depending on the presence of a written agreement. In the absence of a written agreement, payment should be made within 15 days. In case there is a written agreement, payment shall be made as per the agreed-upon timeline, not exceeding 45 days. | जल्द आ रहा है | ||
| 2024-02-08 | Relaxation of additional fees and extension of date for Form LLP BEN-2 and 4D | The MCA has introduced significant regulatory updates for LLPs with the issuance of the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, and the Limited Liability Partnership (Third Amendment) Rules, 2023. These updates include the introduction of E-form LLP BEN-2 and E-form LLP Form no. 4D for the declaration of beneficial ownership and contributions. To facilitate the transition to MCA-21 version-3 and encourage compliance, LLPs are permitted to file these forms without additional fees until 15th May 2024. The forms will be available for filing starting from 15th Apr 2024. | जल्द आ रहा है | ||
| 2024-02-08 | New TDS/TCS Rates for Inoperative PANs: A Crucial Update | IT Dep has notified about increased TDS and TCS rates for 'Inoperative' PANs, as per Section 206AA/206CC of the IT Act. This move aims to encourage compliance and maintain active PAN status among taxpayers. The notice refers to CBDT's Notification No. 15/2023 and Circular No. 3/2023 for detailed information on the revised rates and provisions. Tax Deductors and Collectors are provided with a quick verification process to check PAN status, emphasizing the importance of keeping PANs operative to avoid higher tax deductions. The department urges stakeholders to verify PANs promptly to ensure smooth tax deduction processes and prevent financial discrepancies. This critical update serves as a reminder of the consequences of having an inoperative PAN. | जल्द आ रहा है | ||
| 2024-02-07 | V3 INC-28 form placeholder for the Restoration of Struck-off company to Active u/s 252 | MCA Announcement: Stakeholders may please note that V3 INC-28 form has placeholder for the Restoration of Struck-off company to Active u/s 252. Stakeholders may plan accordingly and file INC-28 with section 252(2) along with NCLT order and proof of cost/fee [if levied]. Upon approval of form, the status would get restored automatically. | जल्द आ रहा है | ||
| 2024-02-01 | New Details Required in ITR FY 23-24 | Following details are added in ITR for FY 2023-24:
1) Legal Entity Identifier (LEI) details 2) Details of contributions made to political parties, if claimed (Date, Mode of payment and transaction/Cheque number/IFSC Code), and 3) Details of deduction in respect of maintenance including medical treatment of a dependent who is a person with disability (Type of dependent, PAN, Form 10IA details). An LEI (Legal Entity Identifier) is a unique code, consisting of 20 symbols, that allows for identification within the global financial system. This is required for credit of refunds exceeding Rs 50 crore. | जल्द आ रहा है | ||
| 2024-01-23 | GSTIN Bank Detail Submission Advisory | The advisory mandates that all registered taxpayers under CGST Act 2017 are required to provide their bank account details within 30 days of registration or before the due date for GST-1/IFF, whichever is earlier. Failure to comply will lead to suspension of the GSTIN and restriction from filing further GSTR-1/IFF. A new system feature is being developed to enforce this requirement. If the taxpayer responds to a suspension notice (FORM REG-31) by updating their bank details, the suspension will be revoked. However, if no update is made within 30 days after the FORM REG-31 is issued, the taxpayer's registration may be cancelled. Immediate action is urged to avoid such consequences. | जल्द आ रहा है | ||
| 2024-01-16 | Deductions for Payment to Micro or Small Enterprises | The newly inserted clause 43B(h) in the Finance Act 2023, pertaining to the Income Tax Act 1961, is specifically applicable to MICRO and SMALL enterprises. It mandates that deductions for payments to these enterprises can only be claimed if the payments are made within the time limit set in Section 15 of the Micro Small and Medium Enterprises Development Act 2006. This clause does not apply to medium enterprises.
Furthermore, it becomes effective for outstanding sums payable to micro and small enterprises from the last day of the financial year 2023-24 onwards, with non-compliance leading to disallowance and addition back to income from AY 24-25. | नवनिर्मित खंड 43B(h) वित्त अधिनियम 2023 में, जो कि आयकर अधिनियम 1961 से संबंधित है, विशेष रूप से माइक्रो और छोटे उद्यमों के लिए लागू होता है। इसमें यह अनिवार्य है कि इन उद्यमों को किए गए भुगतानों के लिए कटौती केवल तभी दावा की जा सकती है जब भुगतान माइक्रो, छोटे और मध्यम उद्यम विकास अधिनियम 2006 की धारा 15 में निर्धारित समय सीमा के भीतर किए जाते हैं। यह खंड मध्यम उद्यमों पर लागू नहीं होता है। इसके अतिरिक्त, यह वित्तीय वर्ष 2023-24 के अंतिम दिन से माइक्रो और छोटे उद्यमों को देय बकाया राशि के लिए प्रभावी हो जाता है, और अनुपालन न करने पर आयकर वर्ष 24-25 से आय में वापस जोड़ने और इसे नकारने की स्थिति उत्पन्न होती है। | ||
| 2024-01-08 | New Insertion Section 43B(h)- Payment to Micro or Small Enterprises | The Finance Act 2023 introduces a significant amendment, adding clause (h) to Section 43B of the Income Tax Act, 1961. This amendment aims to promote timely payments to MSMEs. According to the new clause, deductions for sums payable to these enterprises are eligible only if paid within the time limit specified in Section 15 of the MSME Development Act, 2006. Failure to adhere to this timeframe results in consequences, including compensatory interest and disallowance of related expenditures. The amendment is applicable from AY 2024-25 impacting outstanding sums payable to micro and small enterprises beyond the specified time limit. | वित्त विधेयक 2023 ने आयकर अधिनियम, 1961 की धारा 43B में एक महत्वपूर्ण संशोधन किया है, जिसमें धारा (h) को जोड़ा गया है। इस संशोधन का उद्देश्य समय पर माइक्रो और छोटे उद्यमों के पास भुगतान को प्रोत्साहित करना है। नई धारा के अनुसार, इन उद्यमों के लिए केवल वो राशियाँ मान्य होंगी जो माइक्रो, छोटे और मध्यम उद्यम विकास अधिनियम, 2006 की धारा 15 में बताई गई समय सीमा के अंदर दी जाती हैं। इस समय सीमा का पालन न करने पर कुछ नुकसान हो सकते हैं, जैसे की मुआवजा ब्याज और संबंधित खर्च को मान्यता नहीं दी जाएगी। यह संशोधन AY 2024-25 से लागू होगा, जिससे माइक्रो और छोटे उद्यमों के पास समय सीमा के पार बकाया भुगतान पर प्रभाव पड़ेगा। | ||
| 2024-01-10 | Blocking the generation of E-Way Bill without e-Invoice/IRN has been withdrawn. | As per the latest update on https://ewaybillgst.gov.in/, Blocking the generation of E-Way Bill without e-Invoice/IRN has been withdrawn. | जल्द आ रहा है | ||
| 2024-01-05 | 6-digit HSN code for AATO exceeding Rs 5 Crores | There is an advisory from the National Informatics Centre regarding the E-Way Bill System's requirements for HSN code entry. It references notification 78/2020 dated October 15, 2020, mandating that taxpayers with an Annual Aggregate Turnover (AATO) exceeding Rs. 5 Crores must use at least a 6-digit HSN code for B2B and export transactions. Those with AATO below Rs. 5 Crores are required to use at least a 4-digit HSN code. This requirement will come into effect within the E-Way Bill System starting February 1, 2024, and taxpayers need to update their systems accordingly to comply with the new validation rules for generating e-way bills through web and API systems from that date. | जल्द आ रहा है | ||
| 2024-01-05 | E-WAY BILL UPDATE - National informatics Centre | Starting from 1st March 2024, tax payers enabled for E-Invoice will be required to include E-Invoice/IRN details in their E-Way Bills for B2B and B2E transactions. This update ensures alignment between the E-Way Bill and E-Invoice data. It is a call to action for all taxpayers and transporters to update their systems accordingly to comply with the new regulations starting 1st March 2024. | जल्द आ रहा है | ||
| 2024-01-03 | Online declaration requirement for GTA for FY 24-25 | Now one can choose Forward Charge via Annexure V and switch back to RCM through Annexure VI.
The option is open from 1st January '24 to 31st March '24.
If a GTA opts for Forward Charge in any FY, it's considered ongoing for subsequent years unless changed to RCM by filing Annexure-VI.
If Annexure V for Forward Charge is already submitted for FY 2023-24, there's no need to refile for FY 24-25 to maintain Forward Charge. The portal will not accept a new Annexure V filing in this scenario and will display a message indicating the active status of the previously filed Annexure V. | जल्द आ रहा है | ||
| 2023-12-29 | Extension of Deadline for opening balance for ITC Reversal Declaration in GST | The Goods and Services Tax Network (GSTN) has announced an extension of the deadline for taxpayers to declare the opening balance for Input Tax Credit (ITC) reversal until the 31st of January, 2024. This extension aims to ensure accurate reporting and tracking of ITC reversal and reclaims. A new ledger, the Electronic Credit and Re-claimed Statement, has been introduced on the GST portal to assist in this process. Taxpayers will also have three opportunities to amend their declared opening balance if any discrepancies are found, with the facility for amendment available until the 29th of February, 2024. | जल्द आ रहा है | ||
| 2023-12-28 | Guidelines for TDS under Section 194-O for E-Commerce Transactions | Circular No. 20 of 2023 clarifies the deduction of tax at source for transactions involving e-commerce operators (ECOs). It addresses situations with multiple ECOs and the treatment of various fees and taxes like GST when calculating the gross amount for TDS. It also outlines the process for adjusting TDS against purchase returns within the same financial year, and the treatment of discounts offered by sellers or ECOs in determining the gross amount for tax deduction purposes. | जल्द आ रहा है | ||
| 2023-12-28 | Extension of Time Limit for Financial Years 2018-19 and 2019-20 for issuance of order u/s 73 | Notification No. 56/2023 - Central Tax issued by the Ministry of Finance on 28th December 2023, this notification extends the time limit for issuance of order by Department u/s 73 under the Central Goods and Services Tax Act for the financial years 2018-19 and 2019-20. The specific extensions are until the 30th of April, 2024, for the financial year 2018-19, and until the 31st of August, 2024, for the financial year 2019-20, as per the recommendations of the Council. | जल्द आ रहा है | ||
| 2023-12-23 | CBDT notifies Forms ITR 1 and 4 | CBDT notifies Forms ITR 1 and 4 vide Notification No. 105/2023 in G.S.R. 908(E) dated 22nd December, 2023. The Forms are available at https://incometaxindia.gov.in. Other Income Tax Return forms will be notified in due course. | जल्द आ रहा है | ||
| 2023-12-20 | Extension of Due Date for GSTR-3B Submission for Select Districts in Tamil Nadu | Notification No. 55/2023 by the Ministry of Finance, dated 20th December 2023, extends the due date for GSTR-3B for November 2023 to 27th December 2023. This applies to taxpayers in Chennai, Tiruvallur, Chengalpattu, and Kancheepuram in Tamil Nadu. The extension is in line with the Central Goods and Services Tax Act, 2017 and GST Council recommendations. | जल्द आ रहा है | ||
| 2023-12-05 | 6 digit HSN will be mandatory in e-Invoices | Atleast 6 digit HSN will be mandatory in e-Invoices, for taxpayers whose AATO is 5 Crore and above, from 15th of December 2023. | जल्द आ रहा है | ||
| 2023-11-28 | GST Amnesty Advisory for Delayed Appeal Filings | The GST Council has proposed an amnesty for taxpayers who missed the March 31, 2023, deadline to file an appeal against demand orders under CGST Act sections 73 or 74. Under this amnesty, appeals can now be filed using FORM GST APL-01 until January 31, 2024. Payments for the appeals must be processed through the GST portal as stipulated in Notification No. 53/2023. If an appeal has already been filed, taxpayers must make differential payments to qualify for the amnesty. For re-filing or issues with APL-01, taxpayers should raise a ticket on the GST Grievance Redressal Portal. | जल्द आ रहा है | ||
| 2023-11-23 | Inst No 04/2023-GST on Electronic Issuance and Uploading of GST Notices and Orders | The document, dated 23rd November 2023, issued by the CBIC addresses the need for proper electronic servicing and uploading of GST notices and orders. It emphasizes the mandatory issuance of the summary of notices in FORM GST DRC-01 and uploading of orders in FORM GST DRC-07 on the GST portal by the proper officer. The instruction highlights that some field formations are not complying with these requirements, leading to potential issues in record keeping, appeal processes, and recovery actions under GST. The document directs officers to strictly adhere to the rules for electronic issuance to ensure seamless proceedings and compliance. Difficulties in implementation of these instructions can be reported to the Board. | जल्द आ रहा है | ||
| 2023-11-27 | Discard feature for unverified ITR filed under sections 139(1), 139(4), or 139(5) | The Income Tax Portal now includes a "Discard ITR" feature for unverified original, belated, or revised ITRs, effective from the Assessment Year 2023-24.
Discarding an ITR is treated as if the return was never filed. After discarding an ITR, taxpayers can file a new one. However, filing after the due date will attract late fees and other implications. Once chosen, the discard option cannot be undone, so it should be used with caution. The option to discard an ITR is available up until the filing deadline, which is December 31 of the year following the financial year. Prompt decision-making is recommended to avoid complications. | जल्द आ रहा है | ||
| 2023-11-15 | Revised Guidelines for Mutual Fund Transaction Reporting | The Corrigendum to Notification No. 4 of 2021 updates the reporting rules for mutual fund transactions. Key changes include: Reporting is now half-yearly, starting April 1, 2023. Submission deadlines are October 31 for the first half and April 30 for the second half of the financial year. It specifies how mutual funds are classified based on their equity share investment proportions. It emphasizes compliance with the Income Tax Act's Section 285BA and Rule 114E sub-rule 5A. It details minimum holding periods for different mutual fund asset classes. This aims to streamline reporting and ensure compliance with tax regulations. | जल्द आ रहा है | ||
| 2023-11-02 | Extension and Special Procedure for Late Appeal Filings under CGST Act | Notification dated 2nd November 2023, No. 53/2023-CENTRAL TAX, by the MoF, extends a special procedure for taxable persons who missed the deadline to file an appeal against orders under sections 73 or 74 of CGST Act, 2017, before 31st Mar 2023. It allows such persons to file an appeal in FORM GST APL-01, per section 107, by 31st January 2024. Existing appeals fulfilling certain conditions are deemed filed under this notification. It mandates full payment of admitted tax, interest, fine, fee, and penalty, plus 12.5% of remaining disputed tax amount, capped at 25 crore rupees, with at least 20% paid from the Electronic Cash Ledger, before filing an appeal. No refunds will be granted till the appeal's disposal, and non-tax demands are inadmissible. | जल्द आ रहा है | ||
| 2023-10-30 | 2-factor authentication compulsory for AATO of Rs 20 crore or more | Effective from November 1, 2023, Two-Factor Authentication (2FA) has been mandated for taxpayers with an Annual Aggregate Turnover (AATO) exceeding Rs. 20 crores in the GST e-invoice system. Option has been given to either register now or give undertaking for deferment of 2FA. This requirement is to enhance security during the login process by adding an extra layer of protection, typically using a One Time Password (OTP), along with the regular login credentials. | जल्द आ रहा है | ||
| 2023-10-27 | Amendments on Dematerialization and Form PAS-7 in Companies Rules, 2023 | Notification G.S.R. 802(E), dated October 27, 2023, updates the Companies (Prospectus and Allotment of Securities) Rules, 2014. Public companies with unconverted share warrants are required to inform the Registrar in Form PAS-7 within three months. These companies have six months to dematerialize such warrants. Private companies must issue securities only in dematerialized form and are given eighteen months to comply with these provisions. Government companies are exempt. | जल्द आ रहा है | ||
| 2023-10-27 | Amendments to Register of Partners and Beneficial Interests in LLPs | Notification G.S.R. 803(E) was issued by India's Ministry of Corporate Affairs on October 27, 2023. This amends the Limited Liability Partnership (LLP) Rules of 2009. The amendment introduces Rule 22A, requiring all LLPs to maintain a 'Register of Partners' in Form 4A. This register must include detailed information about each partner, such as name, address, and contribution details. Rule 22B mandates filing declarations about beneficial interests in contributions using Forms 4B and 4C. Any changes in these details must be updated in the register within seven days. The notification also requires LLPs to designate a specific partner responsible for providing this information. | जल्द आ रहा है | ||
| 2023-10-28 | Compliance Requirements for Beneficial Interest in Companies | Every company must designate either a Company Secretary (CS), Key Management Personnel (KMP), or every Director to be responsible for providing information and cooperating with the Registrar of Companies (ROC) or other authorities. This is in regard to the beneficial interest in shares of the company. The company is required to specify these designated persons in its Annual Return and must update the ROC via Form GNL 2 if there are any changes. - Vide Companies (Management and Administration) Second Amendment Rules, 2023, as notified by the Ministry of Corporate Affairs (MCA) on 27th October 2023, under the notification number G.S.R. 801(E) | जल्द आ रहा है | ||
| 2023-10-27 | Mandate on Dematerialization of Securities by Private Companies | The "Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023" has been officially notified by the Ministry of Corporate Affairs (MCA). This amendment mandates that every private company, excluding small companies, is to issue securities solely in dematerialized form within 18 months following the closure of the fiscal year ending on March 31, 2023. This initiative aims to facilitate the dematerialization of all securities in accordance with the amended norms. | जल्द आ रहा है | ||
| 2023-10-26 | FORM GST DRC-22 in CGST Rules, 2017 modified to add a validity period for it | Vide Notification No. 52/2023 - Central Tax dated October 26, 2023, in form GST DRC-22, after the last paragraph, the following para is inserted - This order shall cease to have effect, on the date of issuance of order in FORM GST DRC-23 by the Commissioner, or on the expiry of a period of one year from the date of issuance of this order, whichever is earlier. | जल्द आ रहा है | ||
| 2023-10-26 | New Amendment in FORM GST REG-01: Inclusion of One Person Company under PART-B | The amendment in FORM GST REG-01 under PART-B vide Notification No. 52/2023 - Central Tax dated October 26, 2023 has added a new clause "(xiva) One Person Company" after clause (xiv), providing an option for individuals registering as a 'One Person Company' to specify their registrant type while registering for GST. | जल्द आ रहा है | ||
| 2023-10-26 | Inclusion of Expiry Term in CGST Rule 159(2) | The amendment to Rule 159 sub-rule (2) of the CGST Rules, 2017 vide [Notification No. 52/2023 - Central Tax dated October 26, 2023] has introduced a specific clause "or on expiry of one year from the date of order under sub-rule (1), whichever is earlier" post "Commissioner to that effect". This revision sets a definitive timeline, ensuring that the respective procedure under this rule is concluded either upon receiving a specific directive from the Commissioner or as one year elapses from the date the order under sub-rule (1) was issued, whichever scenario occurs first. | जल्द आ रहा है | ||
| 2023-10-26 | Modification in Rule 142(3) of CGST Rules: Transition from Order to Intimation | The amendment to Rule 142 sub-rule (3) of the Central Goods and Services Tax (CGST) Rules has been made vide Notification No. 52/2023 - Central Tax dated October 26, 2023 to alter the phrase "proper officer shall issue an order" to "proper officer shall issue an intimation". This amendment is a part of the continuous effort to simplify the language and processes within the CGST framework, ensuring that actions taken by tax officers are communicated in a more straightforward manner to the concerned parties. This change signifies a shift in the procedural aspect, making the communication from the proper officer to the taxpayer less formal and more informative in nature. | जल्द आ रहा है | ||
| 2023-10-26 | Clarification in CGST Rules: Valuation of Corporate Guarantees Between Related Parties | In a bid to clarify the taxability of corporate guarantees, the GST Council, during its 52nd meeting on October 7, 2023, recommended amendments in the CGST Rules, 2017. The Council proposed a new sub-rule (2) in Rule 28 to ascertain the taxable value of corporate guarantees provided among related parties. As per the amendment vide Notification No. 52/2023 - Central Tax dated October 26, 2023, the taxable value is pegged at 1% of the guarantee amount or the actual consideration received, whichever is higher. This valuation is applicable irrespective of the availability of full Input Tax Credit to the service recipient. | जल्द आ रहा है | ||
| 2023-10-21 | Shifting of Registered Office from one State or Union Territory to another State | On 20-10-2023, the Ministry of Corporate Affairs notified the Companies (Incorporation) Third Amendment Rules, 2023 to amend the Companies (Incorporation) Rules, 2014. The provisions came into effect on 21-10-2023. Rule 30 relating to - Shifting of Registered Office from one State or Union Territory to another State - has been revised. The shifting of the registered office will be allowed, if the management of the company has been taken over by new management, following the resolution plan mentioned under Section 31 of the Insolvency and Bankruptcy Code, 2016, and no appeal is pending in any Court or Tribunal and no inquiry, inspection, investigation is pending or initiated after the approval of the resolution plan. | जल्द आ रहा है | ||
| 2023-10-23 | Incorporation services through NSWS portal | The stakeholders are informed by Ministry of Corporate Affairs that it has integrated with National Single Window System (NSWS) for the Incorporation of Companies and LLPs. Incorporation services can also be availed through NSWS portal. | जल्द आ रहा है | ||
| 2023-10-23 | CBDT Issues Relief Circular for Lower Tax Rate under Form 10-IC for AY 21-22 | Circular No. 19/2023 Date: 23rd October 2023 The CBDT has released a circular to provide relief to companies that opted for a 22% tax rate for AY 2021-22 but failed to file Form 10-IC, resulting in a higher 30% tax rate and MAT. The delay in filing Form 10-IC is condonable for AY 2021-22, subject to three conditions: 1) ITR must be filed by the Section 139(1) due date. 2) Assessees must opt for item (e) under 'Filing Status' in 'Part A - Gen' of ITR-6. 3) Form 10-IC should be e-filed by January 31, 2024. | जल्द आ रहा है | ||
| 2023-10-19 | GST Rate Notification for Taxation of Government Entities amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 19/2023 - Central Tax (Rate) dated October 19, 2023
The Central Government, in accordance with the Central Goods and Services Tax Act, 2017, has amended the Notification No. 04/2017 - Central Tax (Rate). The amendment changes the entry related to taxation of government entities, specifying that it excludes the Ministry of Railways (Indian Railways). These changes become effective on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | GST Rate Notification for Imitation Zari Thread and Polyester/Plastic Film amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 20/2023 - Central Tax (Rate) dated October 19, 2023
The Central Government, under the Central Goods and Services Tax Act, 2017, has made an amendments to Notification No 05/2017 - Central Tax (Rate). This amendment introduces a new entry (S. No. 6AA) related to imitation zari thread or yarn made from metallized polyester or plastic film, specifying that it applies only for the refund of input tax credit on polyester or plastic film. These changes take effect on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | GST Rate Notification for Governmental Services, Including Indian Railways amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 13/2023 - Central Tax (Rate) dated October 19, 2023
The Central Government, under the Central Goods and Services Tax Act, 2017, has made amendments to Notification No. 12/2017 - Central Tax (Rate). The changes include the addition of services provided to Governmental Authorities related to water supply, public health, sanitation, solid waste management, and slum improvement. It also extends the tax provisions to include the Ministry of Railways (Indian Railways). These amendments take effect on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | GST Rate Notification for Taxable Construction Services amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 15/2023 - Central Tax (Rate) dated October 19, 2023
The Central Government, based on the Central Goods and Services Tax Act, 2017, has amended Notification No. 15/2017 - Central Tax (Rate). The amendment changes the definition of taxable construction services for buildings or complexes intended for sale, excluding cases where the full payment is received post-completion certificate issuance or initial occupation. These changes become effective on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | GST Notification for Unpackaged Millet Food Preparations amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 18/2023 - Central Tax (Rate) dated October 19, 2023.
The Central Government, under the Central Goods and Services Tax Act, 2017, has made an amendment to Notification No. 02/2017 - Central Tax (Rate). This amendment introduces a new entry (S. No. 94A) regarding food preparations made from millet flour, containing at least 70% millets by weight, when not pre-packaged and labeled. The amendment takes effect on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | GST Rate Notification for Molasses, Millet Food Preparations, and Spirits amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 17/2023 - Central Tax (Rate) dated October 19, 2023.
The Central Government, based on the Central Goods and Services Tax Act, 2017, has made amendments to Notification No. 01/2017 - Central Tax (Rate). The changes involve adjustments to tax rates for items including molasses, millet flour-based food preparations, and spirits for industrial use, with the omission of specific entries. These amendments take effect on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | GST Rate Notification for Passenger Transportation Services amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 16/2023 - Central Tax (Rate) dated October 19, 2023
The Central Government, in line with the Central Goods and Services Tax Act, 2017, has made amendments to Notification No. 17/2017 - Central Tax (Rate). It revises the definition of services related to the transportation of passengers by motor vehicles, excluding omnibuses unless provided by a company through an electronic commerce operator. These amendments are effective from October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-19 | ITC Rules under the CGST Act, 2017 amended | Recommendations made by the GST Council during its 52nd Meeting are implemented vide Notification No. 12/2023- Central Tax (Rate) dated October 19, 2023
The Central Government, exercising powers under the Central Goods and Services Tax Act, 2017, has made amendments to Notification No. 11/2017 - Central Tax (Rate). It introduces conditions for taking input tax credit on input services in the same line of business, restricting it to 2.5% when the supplier charges a higher tax rate. The notification also omits certain entries and takes effect on October 20, 2023. | जल्द आ रहा है | ||
| 2023-10-09 | Audit Reports under Section 119 of the Income-tax Act, 1961 | The Circular No. 17/2023, dated October 9, 2023, clarifies audit report requirements under Section 119 of the Income-tax Act. It focuses on providing details of 'substantial contributors' in Form No. 10B or 10BB for the assessment year 2023-24. The circular states that details should include contributors whose yearly contribution exceeds Rs. 50,000, along with information on their relatives and related concerns if available. | जल्द आ रहा है | ||
| 2023-09-25 | Clarification on AGM and EGM through VC or OAVM; passing of Ordinary and Special resolutions. | It has been decided to allow companies whose AGMs are due in the Year 2023 or 2024, to conduct their AGMs through VC or OAVM on or before 30th September, 2024.
Also it has also been decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with framework provided in the given Circulars up to 30th September, 2024 - General Circular No. 09/2023 | जल्द आ रहा है | ||
| 2023-09-18 | Extension of timelines for filing of Form 10B/10BB and Form ITR-7 | On consideration of difficulties reported by the taxpayers and other stakeholders, the CBDT provides following relaxation for AY 23-24: 1) The due date of furnishing Audit report in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution in Form 10B/Form 10BB, which was 30 September, 2023, is extended to 31 October, 2023. 2) The due date of furnishing of Return of Income in Form ITR-7 which was 31 October, 2023, is extended to 30 November, 2023 - Vide Circular No. 16/2023 | जल्द आ रहा है | ||
| 2023-09-14 | Central Government constitutes State Benches of the GST Appellate Tribunal | In exercise of the powers conferred by the sub-section 4 of section 109 of the Central Goods and Services Tax Act, 2017, Central Government, on the recommendation of the Goods and Services Tax Council, constitutes the number of State Benches of the Goods and Services Tax Appellate Tribunal for various states at mentioned locations. Total 31 Benches have initially been notified. | जल्द आ रहा है | ||
| 2023-09-06 | Value of supply of actionable claims in case of casino | Central Goods and Services Tax Rules, 2017 Rule 31C The value of supply of actionable claims in casino shall be the total amount paid or payable by or on behalf of the player for - (i) purchase of the tokens, chips, coins or tickets, by whatever name called, for use in casino; or (ii) participating in any event, including game, scheme, competition or any other activity or process, in the casino, in cases where the token, chips, coins or tickets, by whatever name called, are not required: Provided that any amount returned or refunded by the casino to the player on return of token, coins, chips, or tickets, as the case may be, or otherwise, shall not be deductible from the value of the supply of actionable claims in casino. - Vide Notification No. 45/2023 - Central Tax | जल्द आ रहा है | ||
| 2023-09-06 | Value of supply in case of online gaming including online money gaming | Central Goods and Services Tax Rules, 2017 - Rule 31B The value of supply of online gaming, including supply of actionable claims involved in online money gaming, shall be the total amount paid or payable to or deposited with the supplier by way of money or moneys worth, including virtual digital assets, by or on behalf of the player: Provided that any amount returned or refunded by the supplier to the player for any reasons whatsoever, including player not using the amount paid or deposited with the supplier for participating in any event, shall not be deductible from the value of supply of online money gaming. - vide Notification No. 45/2023 - Central Tax | जल्द आ रहा है | ||
| 2023-09-01 | LLP Form 3 and Form 4 amended | LLP Form 3 and Form 4 amended w.e.f. 1st September 2023.
- vide Limited Liability Partnership (Second Amendment) Rules, 2023. In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government makes these rules further to amend the Limited Liability Partnership Rules, 2009. | जल्द आ रहा है | ||
| 2023-08-30 | Claiming credit for tax deducted at source (TDS) under Section 155(20) | The Ministry of Finance has issued a new notification amending the Income-tax Rules, 1962. Effective from October 1, 2023, the amendment introduces Rule 134. This rule outlines the process for assessees to claim credit for tax deducted at source (TDS) under Section 155(20) of the Income-tax Act. Assessees must submit Form No. 71 electronically to the designated Income-tax Systems Directors. The form can be submitted either through a digital signature or an electronic verification code. The Systems Directors are also responsible for setting the procedures and security measures for this form. | जल्द आ रहा है | ||
| 2023-08-28 | Advisory for applicants where GST Registration application marked for Biometric- based Aadhaar Authentication | Rule 8 of CGST Rules had been amended to provide that those applicants who had opted for authentication of Aadhaar number and identified on the common portal, based on data analysis and risk parameters, shall be placed for biometric-based Aadhaar authentication and taking photograph(s) of the applicant.
Pilot for implementation of the above change is ready and the functionality is ready for roll out by GSTN portal. Those applicants who get the link on Mobile & Email ID for Aadhaar Authentication, they can proceed for completing their application as per existing implementation. | जल्द आ रहा है | ||
| 2023-08-23 | Condonation of delay in filing of Form-3, Form-4 and Form-11 | General Circular No.08/2023 dated 23 Aug, 23 is issued by MINISTRY OF CORPORATE AFFAIRS for Condonation of delay in filing of Form-3, Form-4 and Form-11 under section 67 of Limited Liability Partnership Act, 2008 read with section 460 of the Companies Act, 2013. These forms shall be available for filing from 01.09.2023 onwards till 30.11.2023 (both dates inclusive). The LLPs availing the scheme shall not be liable for any action for delayed filing of the Form-3, Form-4 and Form-11. Condonation of delay in filing of Form-3 and Form- 4 is for event date 01.01.2021 and onwards and for Form 11 from FY 21-22 onwards. | जल्द आ रहा है | ||
| 2023-08-18 | New Functionality for "Challan Correction" by Income Tax India | New Functionality is launched for "Challan Correction" by Income Tax India. Path: Dashboard > Services > Challan Correction Using this Functionality you can Change Assesment Year, Major Head and Minor Head for Advance Tax, Self-Assessment Tax and Demand Payment as Regular Assessment Tax for Challan pertaining to A.Y. 2020-21 onwards | जल्द आ रहा है | ||
| 2023-08-04 | Rule 88D - ITC in GSTR 3B vs ITC in GSTR 2B | New Rule 88D Notified -
"Manner of dealing with difference in input tax credit available in auto-generated statement containing the details of input tax credit and that availed in return" Now the system will check the difference between ITC Availed in GSTR 3B and ITC available in GSTR 2B. If ITC availed exceeds by specified amount and percentage then such differences shall be intimated in Part A of FORM GST DRC-01C and Tax Payer have to furnish reply in Part B of FORM GST DRC-01C. | जल्द आ रहा है | ||
| 2023-08-01 | Clarification regarding GST rates and classification of goods | Circular No. 200/12/2023-GST dt 1st August, 2023 gives Clarification regarding GST rates and classification of following goods based on the recommendations of the GST Council in its 50th meeting - i. Un-fried or un-cooked snack pellets, by whatever name called, manufactured through process of extrusion; ii. Fish Soluble Paste; iii. Desiccated coconut; iv. Biomass briquettes; v. Imitation zari thread or yarn known by any name in trade parlance; vi. Supply of raw cotton by agriculturist to cooperatives; vii. Plates, cups made from areca leaves viii. Goods falling under HSN heading 9021 | जल्द आ रहा है | ||
| 2023-08-01 | Applicability of GST on certain services - Part 2 | The Ministry of Finance has issued a circular providing clarifications on the applicability of GST on certain services. The supply of food or beverages in a cinema hall is taxable as a restaurant service, as long as it is provided as part of a service and independent of the cinema exhibition service. If the sale of cinema tickets and the supply of food and beverages are bundled together and satisfy the test of composite supply, the entire supply will be taxed at the rate applicable to the exhibition of cinema service. - vide Circular No. 201/13/2023-GST dt 1st Aug, 23 | जल्द आ रहा है | ||
| 2023-08-01 | Applicability of GST on certain services - Part 1 | The Ministry of Finance has issued a circular providing clarifications on the applicability of GST on certain services. Services supplied by a director of a company in his personal capacity, such as renting of immovable property to the company or body corporate, are not subject to Reverse Charge Mechanism (RCM). Only services supplied by a director in his capacity as a director of the company or body corporate are taxable under RCM. - vide Circular No. 201/13/2023-GST dt 1st Aug, 23 | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 25/2023 - Central Tax | The Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, the Ministry of Finance Department of Revenue, No 07/2023 - Central Tax, dated the 31st March, 2023 namely: In the said notification, in the proviso, for the words, letter and figure 30th day of June, 2023 the words, letter and figure 31 day of August, 2023 shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. Notification 07/2023 talks about reduction/capping of Late fees on Annual Returns | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 24/2023 - Central Tax | The Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, the Ministry of Finance (Department of Revenue), No. 06/2023- Central Tax, dated the 31" March, 2023 namely:-
In the said notification, for the words, letter and figure "30th day of June, 2023" the words, letter and figure "31 day of August, 2023" shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. Not. 06/2023 provided One Time Amnesty for Withdrawal of Best Judgement Assessment of Non Filers of Returns u/s 62 | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 23/2023 - Central Tax | The Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, the Ministry of Finance (Department of Revenue), No. 03/2023- Central Tax, dated the 31 March, 2023 namely: - In the said notification, for the words, letter and figure "30th day of June, 2023" the words, letter and figure "31 day of August, 2023" shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. Not. 03/2023 provided Special Procedure for Revocation of Registration where time for applying Revocation has expired. | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 22/2023 - Central Tax | The Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, the Ministry of Finance (Department of Revenue), No. 73/2017- Central Tax, dated the 29th December, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1600(E), dated the 29th December, 2017, namely:- In the said notification, in the seventh proviso, for the words, letter and figure "30th day of June, 2023" the words, letter and figure "31" day of August, 2023" shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. Not. 02/2023- Central Tax, dated 31.03. 2023 provides reduction in late fees for Non Filing of GSTR-4. | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 21/2023 - Central Tax | The Commissioner hereby makes the following further amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 26/2019-Central Tax, dated the 28th June, 2019, namely:- In the said notification, in the first paragraph, in the fifth proviso:- (i) for the words, letter and figure "months of April 2023 and May 2023" the words, letter and figure "months of April 2023, May 2023 and June 2023" shall be substituted; (ii) for the words, letters and figure "thirtieth day of June, 2023", the words, letter and figure "thirty-first day of July, 2023" shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 19/2023 - Central Tax | The Commissioner, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 12/2023 - Central Tax, dated the 24th May, 2023, namely:- (i) for the words, letter and figure "months of April, 2023 and May, 2023" the words, letter and figure "months of April, 2023, May, 2023 and June, 2023" shall be substituted; (ii) for the words, letters and figure "thirtieth day of June, 2023", the words, letter and figure "thirty-first day of July, 2023" shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. | जल्द आ रहा है | ||
| 2023-07-17 | Notification No 18/2023 - Central Tax | The Commissioner, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 83/2020 - Central Tax, dated the 10th November, 2020, namely:- In the said notification, in the fourth proviso:- (i) for the words, letter and figure "tax periods April 2023 and May 2023", the words, letter and figure "tax periods April 2023, May 2023 and June 2023" shall be substituted; (ii) for the words, letters and figure "thirtieth day of June, 2023", the words, letter and figure "thirty-first day of July, 2023" shall be substituted. 2. This notification shall be deemed to have come into force with effect from the 30th day of June, 2023. | जल्द आ रहा है | ||
| 2023-07-17 | Notification NO 26/2023-CENTRAL TAX | The Central Government, on the recommendations of the Council makes the following further amendments in the notification of the Government of India, the Ministry of Finance (Department of Revenue), No. 08/2023-Central Tax, dated the 31 March, 2023 namely:- In the said notification, for the words, letter and figure "30" day of June, 2023" the words, letter and figure 31 day of August, 2023" shall be substituted. Notification 08/2023- Central Tax, dated 31.03. 2023 waived the amount of late fee referred to in section 47 of the CGST Act for filing of GSTR - 10; | जल्द आ रहा है | ||
| 2023-07-17 | Taxability of services from state to state | The Circular no 199/04/2023-GST dated 17th July 2023 provides clarification on the taxability of services provided by an office of an organization in one state to the office of the same organization in another state. It explains that the head office can claim input tax credit for common input services procured from a third party and used by both the head office and branch offices. The head office can distribute the input tax credit to the branch offices through the Input Service Distributor mechanism or issue tax invoices directly to the branch offices. For services provided by the head office to the branch offices, the value declared in the invoice by the head office will be considered the open market value if the branch office is eligible for full input tax credit. The cost of salary of head office employees involved in providing the services to the branch offices is not mandatory to be included in the taxable value of the services. | जल्द आ रहा है | ||
| 2023-07-17 | Government departments for TDS to be registered under GST | The CBIC has issued Circular no 198/04/2023-GST dated 17th Jul, 23 stating that or establishments registered solely for tax deduction at source are required to be registered under the CGST Act. As a result, registered persons with turnover above the specified threshold for e-invoicing must issue e-invoices for supplies made to these government entities. | जल्द आ रहा है | ||
| 2023-07-17 | Issues related to GST refunds | The Circular no 197/04/2023-GST dated 17th Jul, 23 provides clarifications on various issues related to GST refunds, including the restriction of refund of accumulated input tax credit to the invoices reflected in FORM GSTR-2B, amendments to the undertaking in FORM RFD-01, clarification on the calculation of Adjusted Total Turnover, and the entitlement of exporters to claim a refund of unutilized input tax credit, paid tax, and interest.
It also emphasizes that exporters can still avail the benefit of zero-rated supplies as long as goods are actually exported or payment is realized, even if it is beyond the prescribed time frames. | जल्द आ रहा है | ||
| 2023-07-17 | Holding shares in a subsidiary company is not Supply of service | The CBIC has clarified that holding shares in a subsidiary company by a holding company will not be considered a supply of service under GST and will not be taxed. Shares are not classified as goods or services, and their purchase or sale does not fall under the category of supplying goods or services. Therefore, holding shares in a subsidiary company by a holding company is exempt from GST taxation. - Circular no 196/04/2023-GST dated 17th July 2023 | जल्द आ रहा है | ||
| 2023-07-17 | ITC in relation to warranty replacement of parts and repair services | The Circular no 195/04/2023-GST dated 17th Jul, 23 issued by the CBIC clarifies the availability of Input Tax Credit (ITC) in relation to warranty replacement of parts and repair services. It states that if replacement parts or repair services are provided during the warranty period without any additional charge, no GST is payable. However, if any additional consideration is charged, GST will be applicable. The circular also addresses the treatment of extended warranties, stating that GST is payable on the consideration for extended warranties. | जल्द आ रहा है | ||
| 2023-07-17 | Clarification on TCS liability under Sec 52 of CGST Act | Circular no 194/04/2023-GST dated 17th July 2023 provides clarification on the Tax Collected at Source (TCS) liability under Section 52 of the CGST Act, 2017 in the case of multiple E-commerce Operators (ECOs) in one transaction. It states that in a situation where multiple ECOs are involved in a single transaction and the supplier-side ECO is not the supplier of the goods or services, the compliances under Section 52, including collection of TCS, should be done by the supplier-side ECO who releases the payment to the supplier. However, if the supplier-side ECO is also the supplier of the goods or services, then the buyer-side ECO should collect TCS while making payment to the supplier. Suitable trade notices are requested to be issued to publicize the contents of this circular. | जल्द आ रहा है | ||
| 2023-07-17 | Clarification on differences in ITC in FORM GSTR-3B and FORM GSTR-2A | The CBIC has issued Circular no 193/04/2023-GST dated 17th July 2023 providing clarification on the differences in Input Tax Credit (ITC) availed in FORM GSTR-3B compared to that detailed in FORM GSTR-2A for the period from April 1, 2019, to December 31, 2021. The circular outlines guidelines for the availment of ITC based on the percentage of eligible credit available in respect of invoices or debit notes not furnished by suppliers. It also states that no ITC will be allowed for supplies reported in FORM GSTR-1 or using the Invoice Furnishing Facility (IFF) from January 1, 2022, onwards unless communicated in FORM GSTR-2B. These guidelines are applicable to ongoing proceedings and pending cases during the specified period. | जल्द आ रहा है | ||
| 2023-07-17 | Clarification on charging of interest under Sec 50(3) of CGST Act | Circular no 192/04/2023-GST dated 17th July 2023 provides clarification on the charging of interest under section 50(3) of the CGST Act, 2017, specifically in cases of wrong availment of IGST credit and its subsequent reversal. It emphasizes that the total input tax credit available in the electronic credit ledger, including IGST, CGST, and SGST, should be considered for calculating interest. However, the credit of compensation cess should not be included in the interest calculation. It also suggests the issuance of trade notices to inform the public about the circular's contents. | जल्द आ रहा है | ||
| 2023-07-09 | Time limits for the submission of Form 26Q, 27Q & 27EQ | The revised file formats are applicable for Form 26Q, 27Q & 27EQ for Q1 of F.Y. 2023-24 and accordingly statements prepared using updated RPU & validated with updated FVU versions will only be accepted. The updated RPU & FVU are expected to be made available on TIN website (www.protean-tinpan.com) by September 1, 2023.
In view of the above, all the deductors/collectors are hereby advised to file statements (i.e. 26Q, 27Q & 27EQ) for the period of Q1 of FY 2023-24 (using updated RPU & FVU) during the period from September 1, 2023 to September 30, 2023. | जल्द आ रहा है | ||
| 2023-07-07 | GSTN to share data with ED | In exercise of the powers conferred by clause (ii) of sub-section (1) of section 66 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government, being satisfied that it is necessary in the public interest to do so, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 381(E), dated the 27th June, 2006, namely:-
In the said notification, after serial number (25) and the entry relating thereto, the following serial number and entry shall be inserted, namely:- "(26) Goods and Services Tax Network.". | जल्द आ रहा है | ||
| 2023-06-30 | FAQ on issues pertaining to TCS on LRS and purchase of overseas tour program package | Earlier, Finance Act,2023 amended sub-section (1G) of section 206C of the lT Act, 1961. Subsequently, the Government had notified Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023. Comments were received about the practical difficulties in implementation of changes. So now CBDT issued Circular No. 10/2023 dated 30/06/2023. It provides guidelines to address practical difficulties and clarifies various questions related to the implementation of the TCS provisions on LRS. | जल्द आ रहा है | ||
| 2023-06-29 | Advisory: Online Compliance Pertaining to Liability / Difference Appearing in R1 - R3B (DRC-01B) - Part 2 | Cont. from Part 1
3. Upon receiving an intimation, taxpayer must file a reply in Form DRC-01B Part B, providing clarification through reason in automated dropdown and details regarding the discrepancy, if not included in the dropdown. 4. To further help taxpayer with the functionality, a detailed manual containing the navigation details is available on the GST portal. It offers step-by-step instructions and addresses various scenarios related to the functionality. | जल्द आ रहा है | ||
| 2023-06-29 | Advisory: Online Compliance Pertaining to Liability / Difference Appearing in R1 - R3B (DRC-01B) - Part 1 | 1. It is informed that GSTN has developed a functionality to enable the taxpayer to explain the difference in GSTR-1 & 3B return online as directed by the GST Council. This feature is now live on the GST portal. 2. The functionality compares the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period. If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, taxpayer will receive an intimation in the form of DRC-01B. Conti. in Part 2 | जल्द आ रहा है | ||
| 2023-06-28 | Filing of Form 26Q, 27Q & 27EQ - first quarter of FY 23-24 extended. | CBDT extends the time limits for submission of certain TDS/TCS Statements.
Due date for filing of TDS/TCS statements in Form Nos. 26Q, 27Q & 27EQ for first quarter of FY 2023-24 has been extended to 30th September, 2023. - Vide CBDT Circular No.9/2023 in F.No. 370149/109/2023-TPL dated 28.06.2023 | जल्द आ रहा है | ||
| 2023-06-21 | Relaxation in paying additional fees in case of delay in filing DPT- 3 | Due date for filing Form DPT-3 (Return of deposits) is 30th of June 2023 for the Financial Year ended on 31st March 2023. Keeping in view the transition of MCA-21 Portal from Version -2 to Version -3, it has been decided to allow companies to file Form DPT -3 for the financial year ended on 31 March 2023 without paying additional fees up to 31st July 2023. - General Circular no.06/2023 | जल्द आ रहा है | ||
| 2023-06-23 | Update on Enablement Status for Taxpayers for e-Invoicing | As per Notification No. 10/2023 - Central Tax dated 10th May 2023, the threshold for e- Invoicing for B2B transactions has been lowered from 10 crores to 5 crores. This change will be applicable from 1st August 2023.
1.GSTN has enabled all eligible taxpayers with an Aggregate Annual Turnover (AATO) 5 crores and above as per GSTN records in any preceding financial year for e-Invoicing. These taxpayers are now enabled on all six IRP portals including NIC-IRP for e-Invoice reporting. 2.You can check your enablement status on the e-Invoice portal at https://einvoice.gst.gov.in. | जल्द आ रहा है | ||
| 2023-06-14 | Guidelines for processing applications for registration under GST - Part 2 | Officers are also to check the authenticity of the applicant and the completeness and correctness of the address of the principal and additional places of business. Special attention is to be paid to cases where a "High" risk rating has been assigned to an application for registration. The guidelines also cover the process for physical verification of the place of business and the steps to be taken if the registered person is found to be non-existent or fictitious. | जल्द आ रहा है | ||
| 2023-06-14 | Guidelines for processing applications for registration under GST - Part 1 | The Central Board of Indirect Taxes & Customs, GST Policy Wing has issued guidelines in Instruction No. 03/2023-GST dated 14th June, 2023 for processing applications for registration under GST. It is issued for strengthening the process of verification of applications for registration by tax officers. The aim is to prevent fake or bogus registrations. The guidelines instruct officers to scrutinize and verify the details filled by the applicant in the application for registration and the documents uploaded along with the application. The officers are to ensure that the documents are legible, complete, and relevant. | जल्द आ रहा है | ||
| 2023-06-12 | CBDT Notifies Final Cost Inflation Index for FY 23-24 | CBDT in the exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), has notified the Cost Inflation Index (CII) of FY 2023-24.
In the last notification, the board notified the provisional Cost Inflation index. This time Final CII has been notified. The Cost Inflation index (CII) of FY 2023-24 is 348. It is same as Provisional. | जल्द आ रहा है | FY 2023-24 | |
| 2023-05-31 | Form CSR-2 shall be filed separately for financial year 2022-2023. | The Companies (Accounts) Second Amendment Rules, 2023 dated the 31st May, 2023. For the financial year 2022-2023, Form CSR-2 shall be filed separately on or before 31st March, 2024 after filing Form No. AOC-4 or Form No. AOC-4-NBFC (Ind AS), as specified in these rules or Form No. AOC-4 XBRL as specified in the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015 as the case may be. | जल्द आ रहा है | ||
| 2023-05-30 | Advisory on Declaration In Annex V by GTA opting to pay tax under FCM | The GTAs, who commence business or cross registration threshold on or after 1st April, 2023, and wish to opt for payment of tax under forward charge mechanism are required to file their declaration in Annexure V for the FY 2023-24 physically before the concerned jurisdictional authority. The declaration may be filed within the specified time limits, as prescribed in the Notification. No. 05/2023-Central Tax (Rate), dated. 09.05.2023. | जल्द आ रहा है | ||
| 2023-05-29 | e-Appeals Scheme, 2023 | This notification about e-Appeals Scheme, 2023 dt 29 May, 23 outlines various procedures and guidelines for filing appeals under different laws and regulations in India, including the Income Tax Act. It also discusses the consequences of non-compliance with the guidelines and the role of the appellate authority in resolving disputes. It covers the process of filing appeals electronically, including the e-Appeals Scheme 2023 and the Faceless Appeal Scheme. The schemes aim to reduce physical interaction between taxpayers and tax authorities, streamline the appeals process, and establish a National Faceless Appeal Centre. | जल्द आ रहा है | ||
| 2023-05-26 | SOP for the scrutiny of returns for the financial year 2019-20 onwards - III | Issuance of Notice and Action: The proper officer shall mention the parameter-wise details of the discrepancies noticed by him in FORM GST ASMT-10 and shall also upload the worksheets and supporting document(s)/annexures, if any. For each GSTIN identified for scrutiny, the proper officer is required to scrutinize all the returns pertaining to the corresponding Financial Year under consideration and a single compiled notice in FORM GST ASMT-10 may be issued to the registered person for that financial year. Initiation of Appropriate Action Initiation of appropriate action for determination of the tax and other dues under section 73 or section 74, in cases where no reply is furnished by the registered person | जल्द आ रहा है | FY 2019-20 onwards | |
| 2023-05-26 | SOP for the scrutiny of returns for the financial year 2019-20 onwards - II | Timelines for Scrutiny of Returns: Scrutiny of returns is to be conducted in a time-bound manner, so that the cases may be taken to their logical conclusion and that too expeditiously. The timelines may be observed by all concerned, including communication of GSTINs selected for scrutiny by DGARM on ACES GST Application for a financial year, finalization of scrutiny schedule with the approval of the concerned Assistant/Deputy Commissioner, and more. Reporting and Monitoring: The details of action taken by the proper officer in respect of GSTINs allocated to him for scrutiny will be available in the form of two MIS reports in the scrutiny dashboard on the ACES-GST application. The requirement of compiling and sending the Monthly Scrutiny Progress Report by the CGST zones to DGGST is hereby dispensed with for the Financial Year 2019-20 onwards. | जल्द आ रहा है | FY 2019-20 onwards | |
| 2023-05-26 | SOP for the scrutiny of returns for the financial year 2019-20 onwards - I | The Directorate General of Analytics and Risk Management (DGARM) will select GSTINs registered with the Central Tax authorities for scrutiny based on identified risk parameters. Scrutiny of Returns: The CBIC ACES-GST application will contain an online workflow for scrutiny of returns. The proper officer will issue a notice to the registered person in FORM GST ASMT-10 through the scrutiny functionality on ACES-GST application, informing them of the discrepancies noticed and seeking their explanation. The online scrutiny functionality will boost the department's efforts to leverage technology and risk-based tools to encourage self-compliance and conduct scrutiny of returns with minimal interaction with the registered person. | जल्द आ रहा है | FY 2019-20 onwards | |
| 2023-05-22 | Guidelines for Taxation of Online Gaming Winnings | The Indian government has issued guidelines in Circular 5 of 2023 dated 22 May, 23 for the deduction of income tax on winnings from online games. The guidelines clarify how "net winnings" should be computed for users with multiple wallets, how bonuses and incentives should be treated, and when tax should be deducted on withdrawals. Taxpayers were expected to deduct tax at source even before the guidelines were issued, but if there is a shortfall in deduction due to the time lag, it can be deposited with the tax deduction for the following month without penalty. The circular also provides a concession for insignificant withdrawals and clarifies how tax should be deducted on winnings in kind. | जल्द आ रहा है | ||
| 2023-05-25 | PRESS RELEASE on Increased limit for tax exemption on leave encashment for nongovernment salaried employees | The Indian Ministry of Finance's Department of Revenue has announced an increase in the tax exemption limit for leave encashment for non-government salaried employees. Previously, the exemption limit was set at Rs. 3 lakh under section 10(10AA)(ii) of the IT Act, 1961. However Central Government has raised the limit to Rs. 25 lakh, effective from April 1, 2023. If a non-government employee receives such payments from multiple employers within the same year, the total exempted amount under section 10(10AA)(ii) should not exceed Rs. 25 lakh. Additionally, the tax exemption already allowed in previous years' total income must be subtracted from the Rs. 25 lakh limit. The notification for this change, numbered 31/2023 and dated May 24, 2023, has been published. | जल्द आ रहा है | ||
| 2023-05-24 | Indian Government increases Limit for Leave Encashment for Retiring Employees. | The notification number 31/2023/F. No. 200/3/2023-ITA-I, dated May 24, 2023, issued by the Central Board of Direct Taxes specifies the maximum amount receivable by employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement, whether superannuation or otherwise. The limit in relation to employees mentioned in sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 is set at Rs. 25,00,000 (twenty-five lakhs rupees only). The notification is deemed to have come into force with effect from April 1, 2023. | जल्द आ रहा है | ||
| 2023-05-24 | Clarification on Provisions for Charitable and Religious Trusts | The circular 6 of 2023 dt 24 May, 23 provides clarification on provisions related to charitable and religious trusts under the Income-tax Act, 1961. It outlines the amended provisions related to registration and approval of trusts and extends the due date for making an application for registration/approval in certain cases. The circular also extends the due date for furnishing of statement of donation and certificate of donation in Form No. 10BD and Form No. 10BE, respectively. The Indian government has issued clarifications regarding the applicability of provisional registration for trusts seeking approval and revised audit reports have been notified for trusts. The clarification also includes a list of electronic modes of payment for audit reports. | जल्द आ रहा है | ||
| 2023-05-19 | Clarification - Applicability of TCS to small Debit/Credit Transactions under LRS | Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambiguity, it has been decided by Ministry of Finance that any payments by an individual using their international Debit or Credit cards upto Rs 7 lakh per financial year will be excluded from the LRS limits and hence, will not attract any TCS. Existing beneficial TCS treatment for education and health payments will also continue. | जल्द आ रहा है | ||
| 2023-05-18 | 20% TCS on International Credit Card Transactions | The finance ministry via Notification Number G.S.R. 369E dated 16th May 2023 has amended the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023, to include international credit card payments under the Liberalised Remittance Scheme (LRS). The notification said that rule 7 has been omitted, which brings the usage of international credit cards towards meeting expenses on a visit outside India under LRS with immediate effect. Rule 7 exempts overseas use of international credit cards from 'Rule 5', which mandates prior approval from the RBI. This has enabled the higher levy of TCS, as announced in the Budget for 2022-23, from July 1. | जल्द आ रहा है | ||
| 2023-05-10 | Lowered Threshold for E-Invoicing Compliance | The Ministry of Finance has issued a notification No. 10/2023-Central Tax, amending the Central Goods and Services Tax Rules, 2017. The amendment, made on the recommendation of the Council, lowers the threshold for the requirement of e-invoicing. With effect from August 1, 2023, businesses with an annual aggregate turnover of five crore rupees or more will be required to issue electronic invoices, instead of the previous threshold of ten crore rupees. The notification replaces the earlier notification No. 13/2020 - Central Tax, dated March 21, 2020. | जल्द आ रहा है | ||
| 2023-05-10 | Amendments to Companies Removal Rules | Notification Number: G.S.R. 354 (E)
The notification amends the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, to streamline the process of removing the names of companies from the register. The main points of amendment are that companies cannot file the application to remove their names from the register without filing overdue financial statements and annual returns, and they cannot file the application once the Registrar has initiated action under section 248. The amendment aims to ensure that companies do not escape regulatory scrutiny by simply shutting down operations and failing to file necessary financial documents. | जल्द आ रहा है | ||
| 2023-05-09 | Date to opt for FCM for FY 23-24 Extended. | The option to opt for FCM as per Form Annexure V for the Financial Year 2023-2024 shall be exercised on or before the 31st May, 2023. Provided also that a GTA who commences new business or crosses threshold for registration during any Financial Year, may exercise the option to itself pay GST on the services supplied by it during that Financial Year by making a declaration in Annexure V before the expiry of forty-five days from the date of applying for GST registration or one month from the date of obtaining registration whichever is later. Vide Notification 05/2023 | जल्द आ रहा है | ||
| 2023-05-06 | Deferment of Implementation of Time Limit on Reporting Old e-Invoices | 1. It is to inform you that it has been decided by the competent authority to defer the imposition of time limit of 7 days on reporting old e-invoices on the e- invoice IRP portals for taxpayers with aggregate turnover greater than or equal to 100 crores by three months. 2. The next date of implementation will be shared with you in due course of time. | जल्द आ रहा है | ||
| 2023-05-04 | CBIC launches Special Drive Against Fake GST Registrations | The Central Board of Indirect Taxes and Customs in India has issued guidelines for a special all India drive against fake GST registrations. The drive will run from 16 May to 15 July 2023. The aim is to detect and weed out fake billers from the GST eco-system. The guidelines include identifying fraudulent GSTINs, appointing nodal officers for information sharing, taking action against non-existent and fictitious taxpayers, and providing weekly reports on action taken. The National Coordination Committee will monitor the progress of the special drive. Vide Instruction no. 01/2023-GST | जल्द आ रहा है | ||
| 2023-05-04 | Advisory for Timely Filing of GST Returns - Part 2 | Filing Form GSTR 3B well in advance can help avoid last-minute rush and system congestion. Some taxpayers uploaded large numbers of past period invoices on GSTR 1 due dates, causing delays. Taxpayers should adopt a monthwise return filing discipline for B2B invoices to avoid reporting past period invoices all at once. | जल्द आ रहा है | ||
| 2023-05-04 | Advisory for Timely Filing of GST Returns - Part 1 | Taxpayers experienced difficulties filing GSTR-3B returns for March 23 on April 20, 2023, due to a last-minute rush. 20.05 lakh GSTR-3B returns were filed on the last day, causing a waiting queue in the GST system. 45% of returns filed on April 20 were either NIL returns or those where no tax was paid in cash. Taxpayers are advised to file NIL returns via SMS for a quicker and more convenient method. | जल्द आ रहा है | ||
| 2023-04-28 | New facility to verify RFN mentioned on offline communications issued by State GST authorities - Part 2 | To verify a Reference Number mentioned on the offline communications sent by State GST officers that are being sent to you, navigate to Services > User Services > Verify RFN option and provide the RFN to be verified.
In case the RFN is of an offline communication generated by the State GST officer, the details with the valid RFN will be displayed. The limited details will be provided pre-login also for verification, while greater details will be provided when the taxpayer logs in and verifies RFN mentioned on an offline communication issued to him/her. | जल्द आ रहा है | ||
| 2023-04-28 | New facility to verify RFN mentioned on offline communications issued by State GST authorities - Part 1 | In order to enable the taxpayers to ascertain that an offline communication (i.e. one which is not system- generated) was indeed sent by the State GST tax officer or not, a new facility for Reference Number (RFN) generation by State tax officer and verification by taxpayer has been provided. Under this feature, the State Tax office can generate a RFN for the physically generated correspondence sent to the taxpayer, which can be validated by the taxpayer (both pre- login and post-login). The facility to verify RFN of System-generated documents, once deployed, shall also be available in a seamless manner using the same link. | जल्द आ रहा है | ||
| 2023-04-24 | Functionality for bank account validation is integrated with GST System | 1. Functionality for bank account validation is now integrated with the GST System. This feature is introduced to ensure that the bank accounts provided by the Tax Payer is correct.
2. The bank account validation status can be seen under the Dashboard - My Profile - Bank Account Status tab, in the FO portal. Tax Payers will also receive the bank account status detail on registered email and mobile number immediately after the validation is performed for his declared bank account. | जल्द आ रहा है | ||
| 2023-04-24 | Excel utility released for ITR 1 and ITR 4 for AY 23-24 | Excel utility has been released for ITR 1 and ITR 4 for AY 23-24. | जल्द आ रहा है | AY 23-24 | |
| 2023-04-17 | Striking off application in form STK2 shifted | Striking off application in form STK2 is now shifted to ROC, Centre for Processing Accelerated Corporate Exit (C-PACE) instead of respective ROC. - vide MCA Notification dated 17th April, 23 amending the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. | जल्द आ रहा है | ||
| 2023-04-13 | Updated Advisory - Time limit for Reporting all document types on the IRP Portal | 1) It has been decided by the Government to impose a time limit on reporting old
invoices on the e-invoice IRP portals for taxpayers with AATO greater than or equal to 100 crores. 2) To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 7 days on the date of reporting. 3) This restriction will apply to the all document types for which IRN is to be generated. Thus, once issued, the credit/Debit note will also have to be reported within 7 days of issue. 4) It is proposed to be implemented from 01.05.2023 onwards. | जल्द आ रहा है | ||
| 2023-04-12 | Time limit for Reporting Invoices on the IRP Portal | 1) It has been decided by the Government to impose a time limit on reporting old
invoices on the e-invoice IRP portals for taxpayers with AATO greater than or equal to 100 crores. 2) To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 7 days on the date of reporting. 3) This restriction will only apply to the document type invoice, and there will be no time restriction on reporting debit/credit notes. 4) It is proposed to be implemented from 01.05.2023 onwards. | जल्द आ रहा है | ||
| 2023-04-10 | Cost Inflation Index for FY 23-24 | Cost Inflation Index for FY 23-24 notified to be '348'
vide [Notification No. 21 /2023/F.No.370142/5/2023-TPL] dated 10th April, 2023
Cost Inflation Index for FY 22-23 was '331' | जल्द आ रहा है | FY 23-24 | |
| 2023-04-05 | Clarification regarding TDS u/s 192 | 1. Each year, the employer shall seek information from each of its employees regarding their intended Tax Regime (Old or New u/s 115BAC) and deduct tax accordingly. 2. If intimation is not made by the employee, it shall be presumed that the employee continues to be in the default tax regime and has not exercised the option to opt out of the new tax regime. 3. It is also clarified that the intimation would not amount to exercising option in terms of sub-section (6) of section 115BAC of the Act and the person shall be required to do so separately in accordance with the provisions of the sub-section. -vide Circular 4 of 2023 | जल्द आ रहा है | ||
| 2023-03-31 | Amnesty Scheme for Revocation of Cancellation of Registration | Notification No. 03/2023 - Central Tax dated 31.03.2023
Amnesty scheme has been provided for registered persons whose registrations have been cancelled on or before 31.12.2022 due to non-filing of returns. The registered persons may apply for revocation of cancellation of their registrations up to 30.06.2023 only after furnishing the returns due up to the effective date of cancellation of registration along with payment of all amount including Tax, Interest, Penalty and Late Fees. | जल्द आ रहा है | ||
| 2023-03-31 | GSTR-4 Amnesty | Notification No. 02/2023 - Central Tax dated 31.03.2023
Late fees in case of FORM GSTR-4 for the periods from July-2017 till F.Y 2021-22 has been waived completely in case of NIL returns and reduced to Rs 500/- in other cases provided the said returns are filed between 01.04.2023 to 30.06.2023. | जल्द आ रहा है | ||
| 2023-03-31 | Finance Act, 2023 notified | The Government of India has notified the Finance Act, 2023 (the Finance Act) on 31 March 2023 to give effect to the financial proposals of the Central Government for the financial year 2023-2024. | जल्द आ रहा है | ||
| 2023-03-31 | TIME LIMITS FOR ISSUANCE OF ORDER U/S 73 of CGST ACT EXTENDED | Notification No. 09/2023 - Central Tax
TIME LIMITS FOR ISSUANCE OF ORDER U/S 73 of CGST ACT EXTENDED Year 2017-18 upto 31.12.2023 Year 2018-19 upto 31.03.2024 Year 2019-20 upto 30.06.2024 | जल्द आ रहा है | ||
| 2023-03-31 | Reduction / Capping of Late Fees on Annual Returns | Reduction in Late Fee for Annual Return GSTR-9 from FY 2022-23 onwards. 1) IF AATO upto Rs. 5 Crores - Rs. 50 per day subject to max 0.04% of Turnover. 2) IF AATO above Rs. 5 Crores and upto Rs. 20 crores - Rs. 100 per day subject to max 0.04% of Turnover. 3) IF AATO above Rs. 20 Crores - Rs. 200 per day subject to max 0.5% of Turnover. Maximum Late fee for Annual Return GSTR-9 for FY 2017-18, 2018-19, 2019-20, 2020-21 or 2021-22 is Rs. 20,000 total (CGST + SGST) if it will be filed between 01/04/23 to 30/06/23. | जल्द आ रहा है | ||
| 2023-03-31 | GSTR-10 Amnesty | Notification No.08/2023 Central Tax
If Final return in Form GSTR-10 was not filed within the due date then Maximum Late fee for Final Return GSTR 10 will be Rs.1,000 if filed between 01/04/23 to 30/06/23 | जल्द आ रहा है | ||
| 2023-03-28 | CBDT notifies consequences that will apply if PAN becomes inoperative | A person, whose PAN has become inoperative, shall be liable for consequences
for the period commencing from the date as specified under sub-rule(4) of Sec 114AAA till the date it becomes operative, namely:-
(i)Refund due under the provisions of the Act shall not be made;
(ii)Interest shall not be payable on refund for the period, beginning with the date specified under sub-rule(4) and ending with the date on which it becomes operative;
(iii)where tax is deductible under Chapter XVIIB in case of such person, such tax shall be deducted at higher rate,
in accordance with sec 206AA;
(iv)where tax is collectible at source under Chapter XVII-BB in case of such person, such tax shall be collected at Mb>higher rate, in accordance with sec 206CC - vide Notification No. 15/2023 F. No.370142/14/2022-TPL | जल्द आ रहा है | NA | |
| 2023-03-19 | GST NUMBER TO PROFESSIONALS WORKING FROM HOME | THE MINISTER OF STATE FOR FINANCE said in reply to UNSTARRED QUESTION No. 1488, 1) It is a fact that post COVID-19 pandemic, most of senior professionals and consultants have started their professional activities under the Work from Home (WFH) concept. 2) The Central Goods & Services Tax Act, 2017 does not restrict GST registration of Management consultants, Architects and other professionals operating from residential premises, due to covid-19 pandemic or otherwise. | जल्द आ रहा है | ||
| 2023-03-07 | Transfer Cash Balance from one GSTIN to another GSTIN | One can now transfer Cash Balance from one GSTIN to another GSTIN having the same PAN by filing GST PMT-09. This will help to transfer unutilised cash balance in one state to another tax paying GSTN and thus improving cashflows for businesses. | जल्द आ रहा है | NA | |
| 2023-02-27 | Declaration in Annexure-V to opt for payment under FCM by GTA | The option to file a declaration in Annexure-V to opt for payment under FCM by GTA has been enabled on the GST Portal.
15th March 2023 is the last date for submission of the declaration for FY 2023-24. | जीटीए द्वारा एफसीएम के तहत भुगतान का विकल्प चुनने के लिए अनुबंध-V में घोषणा फाइल करने का विकल्प जीएसटी पोर्टल पर सक्षम किया गया है। 15 मार्च 2023, वित्तीय वर्ष 2023-24 के लिए घोषणा पत्र जमा करने की अंतिम तिथि है। | ||
| 2023-02-22 | Forms from 22 Feb 23 to 31 Mar 23 in physical mode | Gen Cir No. 05/2023 dated 22.02.23 states that the companies intending to file (1)Form GNL-2 (filing of prospectus related documents and private placement). (ii)MGT-14 (filing of Resolutions relating to prospectus related documents, private placement). (iii)PAS-3 (Allotment of Shares), (iv)SH-8 (letter of offer for buyback of own shares or other securities). (v)SH-9 (Declaration of Solvency) and (vi)SH-11(Return of buy-back of securities) from 22.02.23 to 31.03.23 on the MCA-21 Portal may file such Form in physical mode. | जल्द आ रहा है | 22.02.23 to 31.03.23 | |
| 2023-02-21 | Extension of Time for filing of SPICE-PartA in MCA 21 Ver 3 without additional fee | Reservation period for the names which are reserved under sub-section (5) of section 4 of the CA 2013 is extended by a further period of 20 days. The re- submission period under rule 9 of Companies (Incorporation) Rules, 2014 falling between 23.01.2023 and 28.02.2023, is also extended by 15 days. - vide General Circular 04/2023 dated 21.2.23 | कंपनी अधिनियम 2013 की धारा 4 की उप-धारा (5) के तहत आरक्षित नामों के लिए आरक्षण अवधि 20 दिनों की एक और अवधि बढ़ा दी गई है। 23.01.2023 और 28.02.2023 के बीच आने वाली कंपनी (निगमन) नियम, 2014 के नियम 9 के तहत पुन: जमा करने की अवधि भी 15 दिन बढ़ा दी गई है। - सामान्य परिपत्र 04/2023 दिनांक 21.2.23 द्वारा। | ||
| 2023-02-21 | Extension of Time for filing of Form PAS-03. | Form PAS-03 which was closed for filing in Version-2 on 20.01.2023 and launched in Version-3 on 23.01.2023, and whose due dates for filing fall between 20.01.2023 and 28.02.2023, can be filed without payment of additional fees till 31.03.2023 - vide General Circular 04/2023 dated 21.2.23 | फॉर्म PAS-03 जो 20.01.2023 को वर्जन-2 में फाइलिंग के लिए बंद कर दिया गया था और 23.01.2023 को वर्जन-3 में लॉन्च किया गया था, और जिसकी फाइलिंग की नियत तारीख 20.01.2023 और 28.02.2023 के बीच आती है, उसे 31 मार्च 23 तक अतिरिक्त शुल्क के भुगतान के बिना फाइल किया जा सकता है। - सामान्य परिपत्र 04/2023 दिनांक 21.2.23 द्वारा | ||
| 2023-02-21 | Further Extension of Time for filing of 45 co e-Forms | Due to change in way of filing in Ver-3, including fresh process of registration of users on MCA-21 and process of stabilization of 45 forms launched from 23.01.23, in continuation of General Circulars No. 1/2023 dated 09.01.23 and 03/2023 dated 07.02.23, it is decided to allow further additional time till 31.03.23 for filing of these forms which are due for filing between 07.02.23 and 28.02.23, without additional fees.- vide General Circular 04/2023 dated 21.2.23 | सामान्य परिपत्र संख्या 1/2023 दिनांक 09.01.23 और 03/2023 दिनांक 07.02.23 के क्रम में, संस्करण-3 में फाइलिंग के तरीके में बदलाव के कारण, एमसीए-21 पर उपयोगकर्ताओं के पंजीकरण की नई प्रक्रिया सहित और प्रक्रिया के कारण 23.01.23 से शुरू किए गए 45 प्रपत्रों के स्थिरीकरण के लिए, इन प्रपत्रों को दाखिल करने के लिए 31.03.23 तक अतिरिक्त समय देने की अनुमति देने का निर्णय लिया गया है, जो बिना अतिरिक्त शुल्क के 07.02.23 और 28.02.23 के बीच दाखिल करने के लिए हैं। - सामान्य परिपत्र के माध्यम से 04/2023 दिनांक 21.2.23 | ||
| 2023-02-18 | Other 49th GST Council Meeting Updates | Union Finance Minister Nirmala Sitaraman chaired the 49th meeting of the GST Council today, at Vigyan Bhawan, New Delhi.
All GST Compensation Dues will be Cleared Today Itself. Nil GST Rate on Loose Rab, 5% on Packaged Rab. GST Rate on Pencil Sharpener reduced from 18% to 12%. GST Rate on Data Loggers reduced from 18% to Nil | केंद्रीय वित्त मंत्री निर्मला सीतारमन ने आज विज्ञान भवन, नई दिल्ली में जीएसटी परिषद की 49वीं बैठक की अध्यक्षता की। सभी जीएसटी मुआवजा बकाया राशि आज ही चुका दी जाएगी। लूज रब पर शून्य जीएसटी दर, पैकेज्ड रब पर 5%। पेंसिल शार्पनर पर GST दर 18% से घटाकर 12% की गई। डेटा लॉगर्स पर GST दर 18% से घटाकर शून्य कर दी गई। | ||
| 2023-02-18 | GST Amnesty - GSTR-4, GSTR-9 and GSTR-10 | It was stated in the GST Council Press Conference Live that GST Amnesty will be provided with respect to pending returns GSTR-4, GSTR-9 and GSTR-10. Details are awaited about which year it will be applicable to. Official Notification to be released soon. | जीएसटी परिषद की लाइव प्रेस कांफ्रेंस में कहा गया कि लंबित रिटर्न जीएसटीआर-4, जीएसटीआर-9 और जीएसटीआर-10 के संबंध में जीएसटी माफी प्रदान की जाएगी। यह किस साल से लागू होगा, इसके बारे में जानकारी का इंतजार है। आधिकारिक अधिसूचना जल्द ही जारी की जाएगी। | ||
| 2023-02-18 | Rationalization of Late Fee for small dealers on GSTR-9 | GST Council Recommendations at 49th Meeting: From 2022-23 onwards
ATTO up to 5 Crore - Rs. 25 per Day ATTO >5 Cr up to 20Cr - Rs. 50 per Day Subject to Maximum of 0.02% of Turnover in both cases. | 49वीं बैठक में जीएसटी परिषद की सिफारिशें: 2022-23 से आगे
एटीटीओ 5 करोड़ तक - रु. 25 प्रति दिन एटीटीओ >5 करोड़ से 20 करोड़ तक - रु. 50 प्रति दिन दोनों मामलों में टर्नओवर के अधिकतम 0.02% के अधीन। | FY 2022-23 onwards | |
| 2023-02-17 | Introduction of Negative Values in Table 4 of GSTR-3B | Following changes have been made in the GST Portal applicable from tax period - January 2023' onwards. The impact of credit note & their amendments will now be auto-populated in Table 4(A) instead of Table 4(B) of GSTR- 3B. In case value of credit notes becomes higher than sum of invoices and debit notes put together, then net ITC would become negative and the taxpayers will be allowed to report negative values in Table-4A. Also, taxpayers can now enter negative values in Table 4D(2) of GSTR-3B. | जल्द आ रहा है | January, 23 Onwards | |
| 2023-02-17 | Changes in Display of Form 26AS/Annual Tax Statement for the Year 2023-24 | As per the new modified forms, from the AY 23-24 onwards, PART-III contains details of Transactions under Proviso to section 194B/First Proviso of section 194R/ Proviso to sub-sec(1) of 194S. Part IV including the details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ 194IB/194IM. Part VII contains details of TDS u/s 194IA/194IB/194M/194S (For Buyer/Tenant of property/Payer of Resident Contractors and Professionals/Payer of Virtual Digital Assets). | जल्द आ रहा है | ||
| 2023-02-17 | New ITR forms require details of virtual digital assets, share trading | The CBDT has notified the IT return forms for AY 2023-24. In order to facilitate taxpayers and to improve ease of filing, no significant changes have been made to the ITR Forms. The notification of the forms well before the end of FY23 will help in filing of returns right from the beginning of the AY. | जल्द आ रहा है | AY 23-24 | |
| 2023-02-07 | Extension of Time for filing of PAS-03 in MCA 21 Version 3 without additional fee | Form PAS-03 which was closed for filing in Version-2 on 20.01.2023 and launched in Version-3 on 23.01.2023, and whose due dates for filing fall between 20.01.2023 and 06.02.2023, can also be filed without payment of additional fees for a period of 15 days - Vide General Circular 03/2023 dated 7th Feb, 23 | जल्द आ रहा है | ||
| 2023-02-07 | Extension of Time for filing of 45 company e-Forms | Due to change in way of filing in Version-3, including fresh process of registration of users on MCA-21 and process of stabilization of 45 forms launched with effect from 23.01.2023, and after considering various representations, in continuation of General Circular 1/2023 dated 09.01.2023, it has been decided to allow further additional time of 15 days for filing of these forms, without additional fees, to the stakeholders - Vide General Circular 03/2023 dated 7th Feb, 23 | जल्द आ रहा है | ||
| 2023-01-10 | Abolishment of Limit of Rs 5,000/- for submission of SFT | Section 285BA of Income Tax Act, 1961 and rule 114E requires specified persons to furnish statement of financial transactions (SFT). As per Notification No. 1 of 2023 dated 5th Jan 2023, CBDT has amended the limit specified in Notification No. 2 of 2021 dated 20th April 2021. As per current notification, "The information is to be reported for all account/deposit holders where any interest exceeds zero per account in the financial year excluding Jan Dhan Accounts." | जल्द आ रहा है | ||
| 2023-01-10 | Letter of Undertaking available for FY 23-24 on GST Portal | GSTN enabled functionality to furnish a Letter of Undertaking for FY 2023-2024 on GST Portal.
Letter of Undertaking is commonly known as LUT. The Letter of Undertaking (LUT) is prescribed to be furnished in form GST RFD 11 under rule 96A, whereby the exporter declares that he/she would fulfill all the requirements prescribed under GST while exporting (exports and supplies to SEZ) without making IGST payment. | जल्द आ रहा है | ||
| 2023-01-10 | Release Plan of 45 company e-Forms in MCA 21 Version 3-reg | Ministry is in the process of introducing certain company e-Forms in MCA21 Version 3 and thus certain e-Forms will not be available in MCA21 Version-2 from 07/01/2023 to 22/01/2023.
Therefore, keeping in view the fact above, vide General Circular No. 01/2023, it is decided to allow additional time of 15 days, without levying additional fees, to stakeholders, in cases where due dates for filing of given 45 e-Forms fall during period between 07/01/2023 and 22/01/2023. | जल्द आ रहा है | ||
| 2023-01-06 | Extension of time limit for exemption under Sec 54 to 54GB of IT Act, 61 | CBDT vide Circular No 1 of 2023 dated 6 Jan, 23 provides that the compliances to be made by the taxpayers such as investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purpose of claiming any exemption under the provisions contained in Section 54 to 54 GB of the Act, for which the last date of such compliance falls between 01 April, 2021 to 28th February, 2022 (both days inclusive), may be completed on or before 31 March 2023. | जल्द आ रहा है | 01 April, 2021 to 28th February, 2022 | |
| 2023-01-02 | Procedure for GST Refund to unregistered buyer | Procedure for GST Refund to unregistered buyer in respect of under constructed flat/building booked but cancelled
1) Apply in online Form RFD-01 2) Apply within 2 yr from date of issuance of letter of cancellation 3) Documents as per Rule-89(2) 4) Maxi refund = Tax paid 5) Mini refund = 1k 6) Refund in proportion to value refunded by the developer Vide GST Circular-188/20/2022-GST 27.12.22 | जल्द आ रहा है | ||
| 2023-01-30 | Cash receipt taken by Co-operative Society - 269ST | Cash receipt taken by Co-operative Society from dealers across multiple days not to be aggregated for the purpose of Section 269 ST - Circular 25/2022 | जल्द आ रहा है | ||
| 2022-12-30 | No GST is payable - rented in personal capacity for use as own residence | Vide N. No.15/2022 Central Tax (Rate) dated 30th Dec, 22, it is clarified that From 01/01/2023, No GST is payable where the residential dwelling is rented to a registered person if it is rented it in his/her personal capacity for use as his/her own residence and on his own account and not on account of his business. | संख्या 15/2022 केंद्रीय कर (दर) दिनांक 30 दिसंबर, 22, यह स्पष्ट किया जाता है कि 01/01/2023 से, कोई जीएसटी देय नहीं है, जहां आवासीय आवास एक पंजीकृत व्यक्ति को किराए पर दिया जाता है, यदि इसे अपने स्वयं के निवास के रूप में उपयोग करने के लिए और अपने स्वयं के खाते में किराए पर लिया जाता है, न कि अपने व्यवसाय के कारण . | ||
| 2022-12-28 | Holding of AGM and EGM through Video Conferencing extended till 30 Sep 23 | Vide General Circular No. 10/2022, dated 28.12.2022, it is stated that In continuation to this Ministry's General Circular No. 20/2020 dated 05.05.2020 and General Circular No. 02/2022 dated 05.05.2022 and after due examination, it has been decided to allow the companies whose AGMs are due in the Year 2023, to conduct their AGMs on or before 30th September, 2023 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated 05.05.2020. | जल्द आ रहा है | ||
| 2022-12-27 | Circular prescribing manner of filing an application for refund by unregistered persons. | CBIC has prescibed manner of filing an application for refund by unregistered persons vide Circular No. 188/20/2022-GST dated 27th December, 22 Circular covers 1) Filing of refund application, 2) Relevant date for filing of refund, 3) Minimum refund amount amongst other things. | जल्द आ रहा है | ||
| 2022-12-27 | Clarification regarding statutory dues under GST law for taxpayers covered in Insolvency and Bankruptcy Code | CBIC issued Clarification regarding the treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised under Insolvency and Bankruptcy Code, 2016 vide Circular No. 187/19/2022-GST dated 27th December, 22. | जल्द आ रहा है | ||
| 2022-12-27 | Clarification on various issue pertaining to GST | Representations have been received by CBIC from the field formations seeking clarification on certain issues with respect to - i. taxability of No Claim Bonus offered by Insurance companies; ii. applicability of e-invoicing w.r.t an entity. CBIC clarifies issues clarifications to ensure uniformity in the implementation of the provisions of law vide Circular No. 186/18/2022-GST dated 27th December, 22. | जल्द आ रहा है | ||
| 2022-12-27 | Clarification with regard to applicability of section 75(2) of CGST Act, 2017 | CBIC issues Clarification with regard to applicability of provisions of section 75(2) of Central Goods and Services Tax Act, 2017 and its effect on limitation vide Circular No. 185/17/2022-GST dated 27th December, 2022. 75(2) provides details in case where Proper Officer shall determine the tax payable u/s 73(1). | जल्द आ रहा है | ||
| 2022-12-27 | Clarification on the entitlement of input tax credit | CBIC issued Clarification on the entitlement of input tax credit where the place of supply is determined in terms of the proviso to 12(8) of Integrated Goods and Services Tax Act, 2017 vide Circular No. 184/16/2022-GST dated 27th December, 22. 12(8) provides the place of supply of services by way of transportation of goods, including by mail or courier, where location of the supplier as well as the recipient of services is in India. | जल्द आ रहा है | ||
| 2022-12-27 | Clarification for difference in ITC in GSTR-3B and FORM GSTR-2A for FY 17-18 and 18-19 | CBIC has issued a Clarification to deal with difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for FY 2017-18 and 2018-19 through Circular No. 183/15/2022-GST dated 27th December, 22. These instructions will apply only to the ongoing proceedings in scrutiny, audit, investigation, etc. for FY 201718 and 201819 and not to the completed proceedings. | जल्द आ रहा है | FY 17-18 and FY 18-19 | |
| 2022-12-26 | No proposal to reduce E-invoicing threshold limit to Rs 5 Crore | It is clarified by CBIC on Twitter that there is no proposal before Government, to reduce E-invoicing threshold limit to Rs 5 Crore with effect from 01.01.2023, as no such recommendation has been made by GST Council. E-invoicing was made mandatory for registered persons having aggregate turnover more than Rs. 10 crore in any preceding financial year from 2017-18 onwards (Refer Notification no. 17/2022-Central Tax dated 01.08.2022). | जल्द आ रहा है | 01.01.2023 | |
| 2022-12-17 | KEY HIGHLIGHTS OF 48TH GST COUNCIL MEETING-4 | FORM GSTR-1 to be amended to provide for reporting of details of supplies made through ECOS, covered under section 52 and section 9(5) of CGST Act, 2017, by the supplier and reporting by the ECO in respect of supplies made under section 9(5) of CGST Act, 2017. | जल्द आ रहा है | NA | |
| 2022-12-17 | KEY HIGHLIGHTS OF 48TH GST COUNCIL MEETING - 3 | Sub-rule (3) of rule 12 of CGST Rules, 2017 to be amended to provide for facility to the registered persons, who are required to collect tax at source u/s 52 or deduct tax at source u/s 51 of CGST Act, 2017, for cancellation of their registration on their request. Section 37, 39, 44 and 52 of CGST Act, 2017 to be amended to restrict filing of returns/ statements to a maximum period of three years from the due date of filing of the relevant return/statement. | जल्द आ रहा है | NA | |
| 2022-12-17 | KEY HIGHLIGHTS OF 48TH GST COUNCIL MEETING - 2 | Rule 109C and FORM GST APL-01/03 W to be inserted in the CGST Rules, 2017 to provide the facility for withdrawal of an application of appeal up to certain specified stage. Circular to be issued for clarifying the issue of treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised under IBC, 2016. Rule 161 of CGST Rules, 2017 and FORM GST DRC-25 also to be amended for facilitating the same. | जल्द आ रहा है | NA | |
| 2022-12-17 | KEY HIGHLIGHTS OF 48TH GST COUNCIL MEETING - 1 | GST Council recommends to decriminalize certain offences u/s 132, increase in threshold of amount of tax for prosecution and reduction in amount of compounding in GST. No GST is payable where the residential dwelling is rented to a registered person if it is rented it in his/her personal capacity for use as his/her own residence and on his own account and not on account of his business. | जल्द आ रहा है | NA | |
| 2022-12-14 | Partial Relaxtion wrt Electronic Submission of Form 10F | As per F. No. DGIT(S)-ADG(S)-3/e-filing Notification/Forms/2022/9227 dated 12th Dec, 2022, On consideration of the practical challenge being faced, Non-resident taxpayers who are not having PAN and not required to have PAN are exempted from mandatory electronic filing of Form 10F till 31st March 2023. Instead they may file Form 10F till 31st March 2023 in manual form. Form 10F is the Information of Non Resident regarding his Tax Residency of his home country for claiming DTAA benefit. | जल्द आ रहा है | Till 31st March, 2023 | |
| 2022-11-10 | Guidelines for verifying the Transitional Credit | The Board vide Circular No. 182/14/2022-GST Dated the 10th November, 2022 has issued Guidelines for verifying the Transitional Credit in light of the order of the Hon'ble Supreme Court in the Union of India vs. Filco Trade Centre Pvt. Ltd., SLP(C) No. 32709- 32710/2018, order dated 22.07.2022 & 02.09.2022-reg. | बोर्ड ने सर्कुलर संख्या 182/14/2022-जीएसटी दिनांक 10 नवंबर, 2022 के माध्यम से भारत संघ बनाम फिल्को ट्रेड सेंटर प्राइवेट में माननीय सर्वोच्च न्यायालय के आदेश के आलोक में संक्रमणकालीन क्रेडिट को सत्यापित करने के लिए दिशानिर्देश जारी किए हैं। . लिमिटेड, एसएलपी (सी) संख्या 32709- 32710/2018, आदेश दिनांक 22.07.2022 और 02.09.2022- के संबंध में। - | ||
| 2022-11-10 | Clarification on Refund related issues | Representations were received from the trade and the field formations seeking clarification on various issues pertaining to the implementation of the notifications related to refunds on account of Inverted Duty Structure.
In order to clarify the issues and to ensure uniformity in the implementation of the provisions of law across the field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as "GST Act"), issued Circular No. 181/13/2022-GST Dated the 10th November, 2022 | इनवर्टेड ड्यूटी स्ट्रक्चर के कारण रिफंड से संबंधित अधिसूचनाओं के कार्यान्वयन से संबंधित विभिन्न मुद्दों पर स्पष्टीकरण मांगने वाले ट्रेड और फील्ड फॉर्मेशन से अभ्यावेदन प्राप्त हुए थे। मुद्दों को स्पष्ट करने और के प्रावधानों के कार्यान्वयन में एकरूपता सुनिश्चित करने के लिए क्षेत्र संरचनाओं में कानून, बोर्ड, धारा 168 द्वारा प्रदत्त अपनी शक्तियों का प्रयोग करते हुए (1) केंद्रीय माल और सेवा कर अधिनियम, 2017 (बाद में "जीएसटी अधिनियम" के रूप में संदर्भित), परिपत्र संख्या 181/13/2022-जीएसटी दिनांक 10 नवंबर, 2022 जारी किया गया | ||
| 2022-11-01 | Condonation of delay in filing of Form No 10A | Representations have been received by the Board stating that Form No.10A in some of such cases could not be filed by 31/03/2022. On consideration of the matter, with a view to avoid genuine hardship to such cases, the Board, in exercise of the powers conferred under section 119(2)(b) of the Act, hereby condones the delay in filing Form No. 10A upto 25/11/2022 in filing Form No.10A, which was required to be made electronically on or before 31/03/2022. | जल्द आ रहा है | ||
| 2022-10-12 | Summary of Key Changes notified through NN 18/2022 - CT to NN 20/2022 - CT | Part 6/6 8. Consequences of not paying your vendor in time: You need to pay tax along with interest If you have availed ITC but didn't pay the supplier within 180 days from Invoice date 9. Two way communication and matching concepts are omitted: Form GSTR 2, GSTR 3, matching concept, two-way communication process in return filing etc. is now omitted. | जल्द आ रहा है | ||
| 2022-10-12 | Summary of Key Changes notified through NN 18/2022 - CT to NN 20/2022 - CT | Part 5/6 6. Claiming Input Tax Credit on Self Assessment basis: Your self assessed ITC will be credited to the electronic credit ledger. The concept of Provisional ITC is now omitted. Further if your supplier didn't pay taxes to the Govt. then ITC shall be reversed along with Interest. 7. Refund: i. Refund application is to be filled if you want to claim a refund of excess balance in Elec. Cash Ledger ii. For supplies to SEZ Developer/Sez Units, refund is to be filled within 2 years from the due date of GSTR 3B iii. A specialised agency of the UNO, Consulate, Embassy etc. can claim a refund of tax on inward supply within 2 years from the last day of the quarter in which the supply was made. Cont.. | जल्द आ रहा है | ||
| 2022-10-12 | Summary of Key Changes notified through NN 18/2022 - CT to NN 20/2022 - CT | Part 4/6 4. Changed in GSTR 1: It is now compulsory that the returns of outward supply must be filed in chronological order. Further Government can prescribe conditions/restrictions in filling of details of outward supply and subsequent communication to receipient. 5. Other Changes in GST Returns: i. QRMP dealers can pay taxes on a self assessment basis or in an alternate way that the government will prescribe later. ii. Restricts filling of GSTR 3B of current period if GSTR 1 of previous period is not filled. iii. Late fee for delay in filling of TCS Return is being introduced. Cont.. | जल्द आ रहा है | ||
| 2022-10-12 | Summary of Key Changes notified through NN 18/2022 - CT to NN 20/2022 - CT | Part 3/6 3. Cancellation of Registration: Officers can suo moto cancel registration if i. A composite taxpayer didn't file return for a financial year beyond three months from the due date ii. A Regular Taxpayers didn't file return for such a continuous tax period as may be prescribed. Note: Rule 21 says that if monthly return filler does not file return for a continuous period of 6 months or if quarterly return filler does not file return for a continuous period of two tax periods then registration can be cancelled. Cont.. | जल्द आ रहा है | ||
| 2022-10-12 | Summary of Key Changes notified through NN 18/2022 - CT to NN 20/2022 - CT | Part 2/6 2. Extension of Time Limit: For any particular financial year, the following can be done up to 30th November of the next financial year: i. Avail ITC for any invoice/debit note of a financial year ii. Issuance of credit notes for supplies made in a financial year iii. Rectification of errors in respect of GSTR 1, GSTR 3B and GSTR 8 Cont.. | जल्द आ रहा है | ||
| 2022-10-12 | Summary of Key Changes notified through NN 18/2022 - CT to NN 20/2022 - CT | Part 1/6
1. New restrictions on the claim of Input Tax Credit: From 01st October 2022 Govt. can restrict your ITC if your vendor has: a) Defaulted in paying tax for such a period or Short paid taxes by a certain percentage b) Availed excess ITC by such limit or Utilized ITC to pay taxes in excess of the maximum allowable limit c) Taken registration within such period d) Other cases as may be prescribed The period, limit and percentage will be prescribed in due time. Thus you need to be extra caution to choose your vendor. Cont.. | जल्द आ रहा है | ||
| 2022-09-28 | Extension of issuing CN, claiming ITC | Extension of issuing CN, claiming ITC and Amendment in GST
CBIC has notified clause 100 of the Finance Act 22 to be effective from 1st Oct, 2022, thereby extending the time limit for claiming ITC (including FY 21-22), issuing CN and amendments of return for previous year till 30th November. Notification No. 18/2022 - Central Tax dated 28th Sept, 2022 | जल्द आ रहा है | FY 21-22 onwards | |
| 2022-07-05 | Mandatory Reporting of HSN Summary - GSTR 9 | From FY 2021-22 onwards, it is mandatory to report HSN Summary in GSTR 9 under table 17 for B2B supplies as below:
AATO above 5 Cr- 6 digit HSN AATO below 5 Cr- 4 digit HSN Notification No. 14/2022- Central Tax dated 5th July, 2022 | जल्द आ रहा है | FY 21-22 | |
| 2022-09-13 | Guidelines to remove difficulties wrt Section 194R | CBDT issues Circular No. 18 dt 13/09/2022 containing additional guidelines to remove difficulties wrt Section 194R, which came into effect from 1st July, 2022. This Circular is in continuation of Circular No. 12 issued earlier on 16/06/2022. 194R mandates a person, who is responsible for providing perquisite to resident, to deduct TDS @10%. | जल्द आ रहा है | ||
| 2022-09-15 | Definition of Small Company amended by MCA | MCA amended the Companies (Specification of definition details) Rules amending the definition of small company w.e.f. 15.09.2022. Paid up Capital - Rs. 4 Crores. from earlier Rs. 2 Crores Turnover - Rs. 40 Crores. from earlier Rs. 20 Crores. | जल्द आ रहा है | From 15.09.2022 | |
| 2022-09-13 | Guidelines to remove difficulties wrt Section 194R | CBDT issues Circular No. 18 dt 13/09/2022 containing additional guidelines to remove difficulties wrt Section 194R, which came into effect from 1st July, 2022. This Circular is in continuation of Circular No. 12 issued earlier on 16/06/2022. 194R mandates a person, who is responsible for providing perquisite to resident, to deduct TDS @10%. | जल्द आ रहा है | ||
| 2022-09-12 | Important Update on e-Way Bill for Gold | E-Waybill for Gold has been provisioned in the e-Waybill system. As per the notification issued by their respective states, the taxpayers may generate e-Waybill for Gold (comprising items belonging to HSN Chapter 71 only) for intrastate and interstate transactions. | जल्द आ रहा है | ||
| 2022-09-09 | Guidelines for filing / revising TRAN-1 / TRAN-2 | 1) Taxpayers may file/revise previously filed TRAN-1 / 2 from 01.10.2022 to 30.11.2022
2) No claim shall be filed for C-Forms, F-Forms and H/I-Forms issued after the original due date of filing TRAN-1 / 2 3) In case the credit availed through TRAN-1 / 2 has been rejected, the appropriate remedy in such cases would be to prefer an appeal or to pursue alternative remedies available as per law. (Circular 180/12/2022) | जल्द आ रहा है | ||
| 2022-09-07 | Discontinuance of NHAI 54 EC bonds with immediate effect. | It has been decided to close the 54 EC capital gain bond issue 2022-23 of NHAI with immediate effect. Accordingly, please ensure that no fresh application/money is accepted for these bonds on or after 3rd September 2022. Bank are requested to freeze the credit in the bank accounts opened for NHAI 54 EC bonds collection from 03 Sept 2022 | जल्द आ रहा है | ||
| 2022-09-05 | Supreme Court allows 4 weeks extension to open common portal for Tran 1 & Tran 2 | Hon'ble Supreme Court while hearing an application from GSTN, has allowed extension of 4 weeks time to comply with their order dated 22/07/2022 issued in the matter of UOI & Anr. V/S Filco Trade Centre Pvt. Ltd. & Anr. bearing SLP (C) nos. 32709-32710/2018. Accordingly, GSTN would open the common portal for filing transitional credit through Tran 1 and Tran 2 w.e.f 01/10/2022. Message by Team GSTN | जल्द आ रहा है | ||
| 2022-09-02 | Payment Gateway on Income Tax website | Payment enabled via UPI & Credit Card on Income Tax Portal via Payment Gateway. Convenience Fees for Credit Cards is 0.85% + 18% GST = 1.003% | जल्द आ रहा है | ||
| 2022-09-01 | Changes in Form GSTR-3B - Now live | Changes in table 4 of GSTR-3B related to the claim of ITC are now made live on the GST Portal by Goods and Service Tax Network(GSTN). | जीएसटीआर-3बी की तालिका 4 में आईटीसी के दावे से संबंधित परिवर्तन अब गुड्स एंड सर्विस टैक्स नेटवर्क (जीएसटीएन) द्वारा जीएसटी पोर्टल पर लाइव किए गए हैं। | ||
| 2022-08-19 | Foreign Tax Credit | The CBDT has issued an amendments in Rule 128 of the Income-tax Rules, to provide major relief to taxpayers in claiming Foreign Tax Credit ("FTC"). The Statement in Form No. 67 can now be furnished on or before the end of the relevant Assessment Year ("AY"). The pre-amended Rule required the FTC claim to be filed by the due date of furnishing the Income Tax Return ("ITR"). | जल्द आ रहा है | ||
| 2022-08-20 | Rule 86B under GST: Restriction on ITC Utilisation in Electronic Credit Ledger | As per GST Notification No. 94/2020 Dated 22 December, 2020,GST rule 86B has been introduced which has imposed 99% restricted on ITC available in electronic credit ledger of Registered Person. According to this Law 1% of Output liability to be paid in cash. This limitation is applicable where the value of taxable supply other than exempt supply and zero-rated supply, in a month exceeds fifty lakh rupees. | जल्द आ रहा है | ||
| 2022-08-19 | Physical verification of Companies | Companies (Incorporation) Third Amendment Rules, 2022
If ROC has a reasonable cause to believe that Company is not carrying any operation (Sec 12(9) - It can carry out Physical verification. | जल्द आ रहा है | ||
| 2022-08-19 | Notification No 100/2022/F- No 370142/35/2022-TPL | Amendment in Rule 128(9) of Income Tax Rules, 1962.
The statement in Form No. 67 needs to filed before the end of the Assessment Year for which Return is filed u/s 139 (1) or u/s 139(4), provided that where the Updated Return has been furnished under sub-section (8A) of section 139, the statement in Form No. 67 shall be furnished on or before the date on which such return is furnished to the extent of the Income included in the Updated Return. | जल्द आ रहा है | ||
| 2022-08-18 | Utility for ITR-3 and Form 3CA-3CD and 3CB-3CD | Excel Based Utility Released by Income Tax India for ITR 3 for Individuals and HUFs having income from profits and gains business or profession.
Offline Utility of Form 3CA-3CD & 3CB-3CD updated by Income Tax India. | जल्द आ रहा है | FY 21-22 | |
| 2022-08-10 | Clarification on RCM on Renting of Residential unit | 1) Renting of residential unit taxable (under RCM) only when it is rented to it is business entity;
2) No GST when it is rented to private (unregistered) person for personal use; 3) No GST even if proprietor or partner of firm rents residence for personal use. | जल्द आ रहा है | ||
| 2022-08-16 | Companies to keep daily back-up of books. | Govt. vide The Companies (Accounts) Fourth Amendment Rules, 2022 modifies Companies (Accounts) Rules, 2014 mandates companies to keep the back-up of books of account on daily basis! | जल्द आ रहा है | ||
| 2022-08-05 | GST Annual Filing Form 9 and 9C | GSTR 9 and GSTR 9C for the FY 2021/22 are available on the GST Portal for filing.
Due Date to File GSTR 9 and GSTR 9C is 31st Dec, 2022. | जल्द आ रहा है | ||
| 2022-08-12 | CBDT Notified books of accounts for charitable institutions. | CBDT has notified the books of accounts and a comprehensive list of other documents which includes documents pertaining to projects undertaken, voluntary contributions received, loan taken, investment made etc to be maintained by all charitable institutions and trusts.
Source: Notification No. 94/2022 (F. No. 370142/34/2022-TPL) / GSR 622(E): Income-tax (24th Amendment) Rules, 2022 dated 10/08/2022 | जल्द आ रहा है | ||
| 2022-08-11 | Income taxpayers not to apply for the APY scheme | The Ministry of Finance has now decided not to allow income taxpayers to apply for the APY scheme. The new order issued by FinMin will come into effect from October 1, 2022. According to the gazette notification issued by the Ministry of Finance on August 10, any citizen who is or has been an income tax payer according to the Income Tax Act will not be eligible to join the Atal Pension Yojana from October 1, 2022. | वित्त मंत्रालय ने अब आयकरदाताओं को APY योजना के लिए आवेदन करने की अनुमति नहीं देने का निर्णय लिया है। फिनमिन द्वारा जारी किया गया नया आदेश 1 अक्टूबर, 2022 से प्रभावी होगा। वित्त मंत्रालय की ओर से 10 अगस्त को जारी गजट नोटिफिकेशन के मुताबिक कोई भी नागरिक जो आयकर अधिनियम के तहत आयकर दाता है या रहा है, वह 1 अक्टूबर 2022 से अटल पेंशन योजना में शामिल होने का पात्र नहीं होगा। | From 1st Oct, 22 | |
| 2022-08-02 | Single click Nil filing of GSTR-1 | GSTN has issued an Advisory dated August 02, 2022 on Single click Nil filing of GSTR-1. Eligibility to file NIL GSTR-1: a. No Outward Supplies (including supplies on which tax is to be charged on reverse charge basis, zero rated supplies and deemed exports) during the month or quarter for which the form is being filed for, or b. No Amendments to be made to any of the supplies declared in an earlier form, c. No Credit or Debit Notes to be declared / amended, d. No details of advances received for services is to be declared or adjusted | जल्द आ रहा है | ||
| 2022-10-01 | E invoicing for Turnover exceeding Rs 10 crore | Vide Notification No. 17/2022 dated 1 Aug, 22 - Central Tax, From 1st October 2022, CBIC on the recommendations of the council, seeks to implement e invoicing for the taxpayers having aggregate turnover exceeding Rs 10 crore. | केंद्रीय कर अधिसूचना दिनांक 1 अगस्त, 22 संख्या 17/2022 -, 1 अक्टूबर 2022 से, सीबीआईसी परिषद की सिफारिशों पर 10 करोड़ रुपये से अधिक के कुल कारोबार वाले करदाताओं के लिए ई चालान लागू करने का निर्णय लेती है। | ||
| 2022-07-29 | ITR Verification reduced from 120 to 30 Days - Part 2 | Cont. from Part 1
1. Only speed post mode is allowed for manual verification. 2. Returns filed till 31.07.22 can be verified within 120 days. For ITR Filed from 01/08/22 reduced time limit of 30 days would be applicable. | भाग 1 . से जारी
1. मैनुअल सत्यापन के लिए केवल स्पीड पोस्ट मोड की अनुमति है। 2. 31.07.22 तक दाखिल किए गए रिटर्न को 120 दिनों के भीतर सत्यापित किया जा सकता है। 01/08/22 से दाखिल आईटीआर के लिए 30 दिनों की कम समय सीमा लागू होगी। | ||
| 2022-07-29 | ITR Verification reduced from 120 to 30 Days - Part 1 | Vide Notification No. 05 of 2022 dated 29.7.22, CBDT Reduces time limit for verification of ITR from 120 days to 30 days of transmitting the data of ITR electronically. In cases where ITR data is electronically transmitted but e-verified or ITR-V submitted beyond the time-limit of 30 days of transmission of data, the date of e-verification/ITR-V submission shall be treated as the date of furnishing the return of income and all consequences of late filing of return under the Act shall follow. Cont in part 2.. | 2022 की अधिसूचना संख्या 05 दिनांक 29.7.22 द्वारा, सीबीडीटी ने आईटीआर के सत्यापन की समय सीमा को आईटीआर के डेटा को इलेक्ट्रॉनिक रूप से प्रसारित करने के 120 दिनों से घटाकर 30 दिन कर दिया। ऐसे मामलों में जहां आईटीआर डेटा इलेक्ट्रॉनिक रूप से प्रसारित किया जाता है लेकिन ई-सत्यापित या आईटीआरवी डेटा के प्रसारण के 30 दिनों की समय-सीमा से परे जमा किया जाता है, ई-सत्यापन / आईटीआरवी जमा करने की तारीख को आय की विवरणी प्रस्तुत करने की तारीख के रूप में माना जाएगा। अधिनियम के तहत देर से रिटर्न दाखिल करने के सभी परिणामों का पालन किया जाएगा। पार्ट 2 में जारी है.. | ||
| 2022-07-27 | CSR funds for the "Har Ghar Tiranga" | The MCA vide its Circular dated 26th July, 2022, has clarified that spending of CSR funds for the activities related to the campaign, "Har Ghar Tiranga" under the aegis of Azadi ka Amrit Mahotsav, such as mass scale production/ supply of national flags and other related activities, are eligible as CSR activities under the provisions of Schedule VII of the Companies Act, 2013. The Companies may undertake the aforesaid activities, subject to fulfilment of the Companies (CSR Policy) Rules, 2014 and related circulars/ clarifications. | एमसीए ने अपने परिपत्र दिनांक 26 जुलाई, 2022 के द्वारा निम्नलिखित को स्पष्ट किया है। आजादी का अमृत महोत्सव के तत्वावधान में अभियान, "हर घर तिरंगा" से संबंधित गतिविधियों के लिए सीएसआर फंड का खर्च, जैसे राष्ट्रीय ध्वज का बड़े पैमाने पर उत्पादन और अन्य संबंधित गतिविधियों, सीएसआर गतिविधियों के रूप में पात्र हैं। यह कंपनी अधिनियम, 2013 की अनुसूची VII के प्रावधानों के तहत है। कंपनी (सीएसआर नीति) नियम, 2014 और संबंधित परिपत्रों / स्पष्टीकरणों की पूर्ति के अधीन, कंपनियां उपरोक्त गतिविधियों को शुरू कर सकती हैं। | ||
| 2022-07-21 | GSTN Implements Mandatory mentioning of HSN codes in GSTR-1 | The Goods and Services Tax Network (GSTN) has updated its system to implement mandatory mentioning of HSN codes in GSTR-1. Vide Notification No. 78/2020, Central Tax dated 15th October 2020, it is mandatory for the taxpayers to report minimum 4 digits or 6 digits of HSN Code in Table-12 of GSTR-1 on the basis of their Aggregate Annual Turnover (AATO) in the preceding Financial Year. In order to facilitate the taxpayers, these changes are being implemented in a phase-wise manner on GST Portal. | जल्द आ रहा है | ||
| 2022-07-18 | GST on Packaged and Labelled Products - Part 2 | Cont from part 1.. The condition to be met for a goods to be treated as pre-packaged, it should be packed without the purchaser be present. As per Rule 3 of The Legal Metrology (Packaged Commodities) Rules, 2011, the said rules will not be applicable to the following: (a) Packages of commodities containing quantity of more than 25 kg or 25 litre excluding cement and fertilizer sold in bags up to 50 kg; and (b) Packaged commodities meant for industrial consumers or institutional consumers. | जल्द आ रहा है | ||
| 2022-07-22 | GST on Packaged and Labelled Products - Part 1 | The specified products that are pre-packaged and labelled shall be liable to GST w.e.f. 18.07.2022.
The expression 'pre-packaged and labelled' means a 'pre-packaged commodity' as defined in clauses (l) of section 2 of the Legal Metrology Act, 2009 (1 of 2010) where, the package in which the commodity is pre-packed or a label securely affixed thereto is required to bear the declarations under the provisions of the Legal Metrology Act, 2009 (1 of 2010) and the rules made thereunder. Cont.. | जल्द आ रहा है | ||
| 2022-07-18 | Implementation of Recommendation of 47th GST Council Meeting - GTA | Option provided to the Goods Transport Agency (GTA) to pay GST either @ 5% (without ITC) or @ 12% (with ITC) under forward charge w.e.f. 18.07.2022
1) Option to pay GST @ 12% (with ITC) or 5% (without ITC), under forward charge during a FY to be exercised on or before 16.08.2022 for the FY 2022-23 2) Option to pay GST @ 12% (with ITC) or 5% (without ITC), under forward charge during a FY to be exercised on or before 15th March of the preceding FY for FY 2023-24 onwards | 47वीं जीएसटी परिषद की बैठक की सिफारिश का कार्यान्वयन
माल परिवहन एजेंसी (जीटीए) को या तो @ 5% (आईटीसी के बिना) या @ 12% (आईटीसी के साथ) जीएसटी का भुगतान करने का विकल्प प्रदान किया गया है। 18.07.2022
1) वित्त वर्ष 2022-23 के लिए 16.08.2022 को या उससे पहले प्रयोग किए जाने वाले वित्त वर्ष के दौरान फॉरवर्ड चार्ज के तहत 12% (आईटीसी के साथ) या 5% (आईटीसी के बिना) जीएसटी का भुगतान करने का विकल्प 2) वित्त वर्ष 2023-24 के लिए पूर्ववर्ती वित्त वर्ष के 15 मार्च को या उससे पहले एक वित्तीय वर्ष के दौरान फॉरवर्ड चार्ज के तहत 12% (आईटीसी के साथ) या 5% (आईटीसी के बिना) जीएसटी का भुगतान करने का विकल्प | ||
| 2022-07-16 | Company Forms on MCA21 V3 portal from 31st Aug 2022 | MCA is launching first set of Company Forms on MCA21 V3 portal from 31st Aug 2022 at 12:00 AM. Following forms will be rolled-out in this phase: DIR3-KYC Web, DIR3-KYC Eform, DPT-3, DPT-4, CHG-1, CHG-4, CHG-6, CHG-8 & CHG-9. Stakeholders are advised to note: (1) Company e-Filings on V2 portal will be disabled from 15th Aug 2022 12:00 AM for the above 9 forms. (2) Offline payments for the above 9 forms in V2 using Pay later option would be stopped from 07th Aug 2022 12:00 AM. | एमसीए 31 अगस्त 2022 को पूर्वाह्न 12:00 बजे एमसीए21 वी3 पोर्टल पर कंपनी फॉर्म का पहला सेट लॉन्च कर रहा है। इस चरण में निम्नलिखित फॉर्म जारी किए जाएंगे: DIR3-KYC वेब, DIR3-KYC Eform, DPT-3, DPT-4, CHG-1, CHG-4, CHG-6, CHG-8 और CHG-9। हितधारकों को सलाह दी जाती है कि वे ध्यान दें: (1) V2 पोर्टल पर कंपनी ई-फाइलिंग उपरोक्त 9 फॉर्म के लिए 15 अगस्त 2022 12:00 पूर्वाह्न से अक्षम हो जाएगी। (2) पे लेटर विकल्प का उपयोग करते हुए वी2 में उपरोक्त 9 फॉर्मों के लिए ऑफलाइन भुगतान 07 अगस्त 2022 12:00 पूर्वाह्न से रोक दिया जाएगा। | ||
| 2022-07-18 | Tour Operator service: updates effective from 18th July, 2022 | Services provided by Indian tour operator to a foreign resident for a tour partially in India and partially outside India, will be exempt to the extent of services performed outside India. | आंशिक रूप से भारत में और आंशिक रूप से भारत के बाहर दौरे के लिए एक विदेशी निवासी को भारतीय टूर ऑपरेटर द्वारा प्रदान की जाने वाली सेवाओं को भारत के बाहर की जाने वाली सेवाओं की सीमा तक छूट दी जाएगी। | ||
| 2022-07-18 | Room by clinical establishment / hospital: Update effective from 18th July, 2022. | Supply of services by way of providing room by clinical establishment / hospital (other than ICU / CCU / ICCU / NICU) shall be taxable where charges on such room exceeds Rs. 5,000 per day per patient at the rate of 5% without any ITC. | क्लिनिकल प्रतिष्ठान/अस्पताल (आईसीयू/सीसीयू के अलावा) द्वारा कमरा उपलब्ध कराने के माध्यम से सेवाओं की आपूर्ति / आईसीसीयू / एनआईसीयू) कर योग्य होगा जहां ऐसे कमरे पर शुल्क रुपये से अधिक है। प्रति रोगी 5,000 प्रति दिन बिना किसी आईटीसी के 5% की दर। | ||
| 2022-07-18 | Renting of Residential Dwelling: GST updates effective from 18th July, 2022 | 1.1 Exemption on 'Renting of residential dwelling' has been withdrawn w.e.f
18th July 2022 where the said service is provided to a registered person. Accordingly, it shall be taxable under GST at the rate of 18%. 1.2 Simultaneously, the onus of paying GST on the said service has been shifted on the recipient of the service under reverse charge mechanism. 1.3 It must be noted that in case of residential premises given on rent to unregistered persons, the GST exemption shall continue. | 1.1 "आवासीय आवास को किराए पर देने" पर छूट को 01.01.2015 से वापस ले लिया गया है 18 जुलाई 2022 जहां उक्त सेवा एक पंजीकृत व्यक्ति को प्रदान की जाती है। तदनुसार, यह 18% की दर से जीएसटी के तहत कर योग्य होगा। 1.2 इसके साथ ही, उक्त सेवा पर जीएसटी का भुगतान करने की जिम्मेदारी रिवर्स चार्ज मैकेनिज्म के तहत सेवा प्राप्त करने वाले पर स्थानांतरित कर दी गई है। 1.3 यह ध्यान दिया जाना चाहिए कि अपंजीकृत व्यक्तियों को किराए पर दिए गए आवासीय परिसर के मामले में जीएसटी छूट जारी रहेगी। | ||
| 2022-07-11 | RBI allows International Trade Settlement in Rupees | The RBI allowed invoicing and payments for international trade in rupees.
This is aimed at promoting the growth of global trade with emphasis on exports from India and to support the increasing interest of the global trading community in INR. | आरबीआई ने अंतरराष्ट्रीय व्यापार के लिए रुपये में चालान और भुगतान की अनुमति दी। इसका उद्देश्य भारत से निर्यात पर जोर देने के साथ वैश्विक व्यापार के विकास को बढ़ावा देना और भारतीय रुपये में वैश्विक व्यापारिक समुदाय की बढ़ती रुचि का समर्थन करना है। | ||
| 2022-06-30 | Recommendations for changes in GST rates by 47th GST Council Meeting | The GST Council's 47 meeting was held in Chandigarh on 28 and 29 June, 2022, under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the recommendations relating to changes in GST rates on supply of various goods and services. | जीएसटी परिषद की 47वीं बैठक चंडीगढ़ में 28 और 29 जून, 2022 को केंद्रीय वित्त और कॉर्पोरेट मामलों की मंत्री श्रीमती निर्मला सीतारमण की अध्यक्षता में आयोजित की गई थी। जीएसटी परिषद ने अन्य बातों के साथ-साथ विभिन्न वस्तुओं और सेवाओं की आपूर्ति पर जीएसटी दरों में बदलाव से संबंधित सिफारिशें की हैं। | ||
| 2022-07-07 | Mandatory furnishing of correct and proper information of inter-State supplies | Circular No. 170/02/2022-GST dated 6th Jul, 22 regarding Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B and statement in FORM GSTR-1. | परिपत्र संख्या 170/02/2022-जीएसटी दिनांक 6 जुलाई, 22 अंतर-राज्यीय आपूर्ति की सही और उचित जानकारी के अनिवार्य प्रस्तुतीकरण के संबंध में और अपात्र/अवरुद्ध इनपुट टैक्स क्रेडिट की राशि और उसके बदले में फॉर्म GSTR-3B और फॉर्म GSTR-1 में स्टेटमेंट। | ||
| 2022-07-06 | Clarification on various issues relating to applicability of demand and penalty provisions | Circular No. 171/03/2022-GST dated 6th Jul, 2022 issued which gives Clarification on various issues relating to applicability of demand and penalty provisions under the Central Goods and Services Tax Act, 2017 in respect of transactions involving fake invoices. | परिपत्र संख्या 171/03/2022-जीएसटी दिनांक 6 जुलाई, 2022 जारी किया गया जो लेनदेन के संबंध में केंद्रीय माल और सेवा कर अधिनियम, 2017 के तहत मांग और दंड प्रावधानों की प्रयोज्यता से संबंधित विभिन्न मुद्दों पर स्पष्टीकरण देता है। जिसमें फर्जी चालान शामिल हैं। | ||
| 2022-07-07 | Rule 46(s) - Declaration regarding E-invoice | As per new clause (s) of Rule 46, every taxpayer having ATTO> 20 crores in any preceding financial year from 2017-18 onwards and issuing an invoice OTHER THAN E-INVOICE shall declare in invoice that E-Invoicing is not required. | नियम 46 के नए खंड (एस) के अनुसार, प्रत्येक करदाता जिसके पास 2017-18 से किसी भी पूर्ववर्ती वित्तीय वर्ष में एटीटीओ> 20 करोड़ है और ई-चालान के अलावा अन्य चालान जारी कर रहा है, वह चालान में घोषित करेगा कि ई-चालान की आवश्यकता नहीं है . | ||
| 2022-07-06 | Time barred refund under GST under Section 54. | Period from 01.03.2020 to 28.02.2022 excluded from computation of time period for filing refund under GST under Section 54. This came into effect from retrospective date, 01 March 2020. This will practically have effect where refunds for the month February 2018 onwards is filed between 01.03.2020 to 28.02.2022 which were earlier held as time barred will now be considered to be within time limit. | 01.03.2020 से 28.02.2022 तक की अवधि को धारा 54 के तहत जीएसटी के तहत रिफंड दाखिल करने की समय अवधि की गणना से बाहर रखा गया है। यह पूर्वव्यापी तिथि, 01 मार्च 2020 से लागू हुआ। यह व्यावहारिक रूप से प्रभावी होगा जहां फरवरी 2018 के बाद के महीने के लिए रिफंड 01.03.2020 से 28.02.2022 के बीच दायर किया गया था, जिसे पहले समय सीमा के रूप में रखा गया था, अब समय सीमा के भीतर माना जाएगा। | 01.03.2020 to 28.02.2022 | |
| 2022-07-05 | Amended Section 50(3) - Interest on ITC Availed | Amended Section 50(3) notified w.e.f. 05 July 2022 which provides that Interest will be levied only when ITC is availed and utilized as well. Interest will not be levied when ITC is only availed and not utilized by an assessee. Rule 88B also inserted to provide for manner of computation of Interest. | संशोधित धारा 50(3) 0.4.1 से अधिसूचित 05 जुलाई 2022 जो प्रदान करता है कि ब्याज तभी लगाया जाएगा जब आईटीसी का लाभ उठाया जाएगा और उसका उपयोग भी किया जाएगा। ब्याज नहीं लगाया जाएगा जब आईटीसी का केवल लाभ उठाया जाता है और एक निर्धारिती द्वारा उपयोग नहीं किया जाता है। ब्याज की गणना के तरीके को प्रदान करने के लिए नियम 88बी भी डाला गया। | ||
| 2022-06-30 | Revised Rates Recommended by GST Council Effective from 18 Jul | GST council revised the GST rates on some goods, services. The revised rate recommended by the 47th GST Council will be made effective from 18th July, 2022. | जीएसटी परिषद ने कुछ वस्तुओं, सेवाओं पर जीएसटी दरों में संशोधन किया। 47वीं जीएसटी परिषद द्वारा अनुशंसित संशोधित दर 18 जुलाई, 2022 से प्रभावी होगी। | ||
| 2022-06-30 | Show Return Filing Frequency | GST UPDATE: "Show Return Filing Frequency" option enabled by GSTN.
Now it will be easy to check whether particular GST Taxpayer is in QRMP or Non-QRMP. This Frequency can be checked for current as well as previous financial year. | GSTN द्वारा सक्षम "रिटर्न फाइलिंग फ्रीक्वेंसी दिखाएं" विकल्प।
अब यह जांचना आसान होगा कि जीएसटी करदाता क्यूआरएमपी में है या गैर-क्यूआरएमपी में। इस फ्रीक्वेंसी को चालू और पिछले वित्तीय वर्ष के लिए जांचा जा सकता है। | ||
| 2022-06-29 | GST Council Recommendation on Form GSTR-9/9A | GST Council has made following recommendation - Exemption from filing annual return in FORM GSTR-9/9A for FY 2021-22 to taxpayers having AATO upto Rs 2 crores. | जीएसटी परिषद ने निम्नलिखित सिफारिशें की हैं - 2 करोड़ रुपये तक के एएटीओ वाले करदाताओं को वित्त वर्ष 2021-22 के लिए फॉर्म जीएसटीआर-9/9ए में वार्षिक रिटर्न दाखिल करने से छूट। | FY 2021-22 | |
| 2022-06-28 | 47th GST Council Meeting held on 28th June 2022 in Chandigarh (2/2) | Continuted from (1/2)... 4) Council agrees to extend due date of filing of FORM GST CMP-08 for composition taxpayers for Q1 of FY23 from 18 July to 30 July. 5) Council agrees to amend Rules to ease procedure for filing of Refund claim w.r.t export of electricity. | परिषद ने वित्त वर्ष 23 की पहली तिमाही के लिए कंपोजिशन टैक्सपेयर्स के लिए फॉर्म जीएसटी सीएमपी-08 दाखिल करने की देय तिथि 18 जुलाई से बढ़ाकर 30 जुलाई करने पर सहमति जताई है। परिषद बिजली के निर्यात के संबंध में रिफंड दावा दायर करने की प्रक्रिया को आसान बनाने के लिए नियमों में संशोधन करने के लिए सहमत है। | ||
| 2022-06-28 | 47th GST Council Meeting held on 28th June 2022 in Chandigarh (1/2) | 1) Council decides to waive requirement for filing refund claims by condoning the 2 yr COVID period between 1st March 2020 till 28 Feb 2022.
2) Council decides to permit tax authorities to file appeals against erroneous refunds by not considering the 2 year period. 3) Council decides to extend timeline for filing GSTR 4 for FY22 without late fees by composition dealers likely to be extended to 28th July; earlier deadline was 30th June. | परिषद ने 1 मार्च 2020 से 28 फरवरी 2022 के बीच 2 साल की COVID अवधि को माफ करके रिफंड दावे दाखिल करने की आवश्यकता को माफ करने का फैसला किया। परिषद ने 2 साल की अवधि पर विचार न करके कर अधिकारियों को गलत रिफंड के खिलाफ अपील दायर करने की अनुमति देने का फैसला किया। परिषद ने कंपोजिशन डीलरों द्वारा बिना विलंब शुल्क के FY22 के लिए GSTR 4 दाखिल करने की समयसीमा को 28 जुलाई तक बढ़ाने का निर्णय लिया; पहले समय सीमा 30 जून थी। | ||
| 2022-06-27 | ITR-U enabled for ITR 1 and ITR 4 | E-filing of updated ITR u/s 139(8A) has been enabled for AY 2020-21 and AY 2021-22 using Excel utility for ITR 1 and 4. | ITR 1 और 4 के लिए एक्सेल यूटिलिटी का उपयोग करके AY 2020-21 और AY 2021-22 के लिए अपडेटेड ITR यू/एस 139(8A) की ई-फाइलिंग को सक्षम किया गया है। | AY 2020-21 and AY 2021-22 | |
| 2022-06-22 | TDS Deduction for Virtual Digital Assets u/s 194S | Form No. 26QE (for TDS u/s 194S) & Form No.16E (TDS Certificate u/s 194S) notified by
@IncomeTaxIndia
for TDS Deduction for Virtual Digital Assets u/s 194S. It will be effective from 1 Jul, 22. | धारा 194एस के तहत वर्चुअल डिजिटल एसेट्स के लिए टीडीएस कटौती के लिए फॉर्म नंबर 26क्यूई (यू/एस 194एस के तहत टीडीएस के लिए) और फॉर्म नंबर 16ई (टीडीएस सर्टिफिकेट यू/एस 194एस) Income Tax Dept द्वारा अधिसूचित. यह 1 जुलाई 22 से प्रभावी होगा। | ||
| 2022-06-16 | Guidelines for Section 194R of the Income Tax Act | Circular No. 12 of 2022 dated 16th June 2022 has provided Guidelines for removal of difficulties under sub section (2) of section 194R of the Income Tax Act, 1961.
Finance Act, 2022 inserted a new Section 194R wef 1st July, 2022. As per this section, person providing any benefit or perquisites to resident (other than employee) has to deduct TDS @10% of the value or aggregate of value of such benefit or perquisites before providing such benefit or perquisites if value crossed Rs. 20,000/- during the Financial year. | 2022 के परिपत्र संख्या 12 दिनांक 16 जून 2022 में आयकर अधिनियम, 1961 की धारा 194R की उप धारा (2) के तहत कठिनाइयों को दूर करने के लिए दिशानिर्देश प्रदान किए गए हैं। वित्त अधिनियम, 2022 में 1 जुलाई, 2022 से एक नई धारा 194R सम्मिलित की गई। इस धारा के अनुसार, निवासी (कर्मचारी के अलावा) को कोई लाभ या अनुलाभ प्रदान करने वाले व्यक्ति को इस तरह के लाभ या अनुलाभों को प्रदान करने से पहले इस तरह के लाभ या अनुलाभों के मूल्य या कुल मूल्य का 10% टीडीएस काटना होगा यदि मूल्य रु। 20,000/- वित्तीय वर्ष के दौरान। | ||
| 2022-06-16 | GST Portal Update: Double Invoice | An advisory is being issued by GSTIN Portal that GSTR-2B of April & May 22 is reflecting same invoice. So, taxpayers are advised not to avail double ITC. Solution will be implemented soon. | GSTIN पोर्टल द्वारा एक एडवाइजरी जारी की जा रही है कि अप्रैल और 22 मई का GSTR-2B एक ही चालान को दर्शा रहा है। इसलिए, करदाताओं को डबल आईटीसी का लाभ नहीं उठाने की सलाह दी जाती है। जल्द ही समाधान किया जाएगा। | Apr and May, 22 | |
| 2022-06-15 | Penalty for Non-maintenance of Registered Office | Penalty of 3 Lacs by ROC levied for Non Maintenance of Registered office (Non receipt of documents by Company sent by Department)
So if your Company is not having proper registered office or Board outside the office then pls do it immediately. | पंजीकृत कार्यालय का रखरखाव न करने पर आरओसी द्वारा 3 लाख का जुर्माना (कंपनी द्वारा विभाग द्वारा भेजे गए दस्तावेजों की प्राप्ति न होना) इसलिए यदि आपकी कंपनी का कार्यालय के बाहर उचित पंजीकृत कार्यालय या बोर्ड नहीं है तो कृपया इसे तुरंत करें। | NA | |
| 2022-06-14 | Cost Inflation Index for AY 23-24 | As per Notification No. 62/2022/F. No. 370142/20/2022-TPL, Cost Inflation Index for FY 2022-23 (AY 2023-24 is notified to be 331.
This notification will come into force with effect from 1st day of April, 2023 and shall accordingly apply to Assessment Year 2023-24 and subsequent years. | वित्त वर्ष 2022-23 के लिए लागत मुद्रास्फीति सूचकांक (एवाई 2023-24 को 331 अधिसूचित किया गया है, अधिसूचना संख्या 62/2022/एफ संख्या 370142/20/2022-टीपीएल के अनुसार। यह अधिसूचना 1st से प्रभावी होगी। अप्रैल, 2023 का दिन और यह तदनुसार निर्धारण वर्ष 2023-24 और उसके बाद के वर्षों पर लागू होगा। | FY 2022-23 | |
| 2022-06-14 | Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022 dated 9th June, 2022 | In the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016,
1. Officer may ask for clarification in Form STK-2 and ask to resubmit the application after removing the defects and the Applicant should submit the application within 15 days failing which the form will be considered as Invalid. 2. Applicant will be provided 2 chances to resubmit the application 3. Form STK-1, STK-5 and STK-5A had been substituted. | जल्द आ रहा है | ||
| 2022-06-14 | Companies Amendment Rules dated 1st June, 2022 | In the Companies (Appointment and Qualification of Directors) Rules, 2014, ?
1. Person seeking appointment is a national of a country which shares land border with India has to attach necessary security clearance from Ministry of Home Affairs along with Consent. 2. Without necessarily security clearance document, no application number will be generated. 3. In E Form DIR-3, additional checkbox will be provided for above amendment. | जल्द आ रहा है | ||
| 2022-06-14 | Companies (Appointments and Qualifications of Directors) Second Amendment Rules, 2022 | Any individual whose name has been removed from the data bank under sub- rule (4) may apply for restoration of his name on payment of fees of one thousand rupees and the institute shall allow such restoration subject to the following conditions, namely
1. Name will be in restored Category for one year within which he needs to pass online test and then only his name will be included in databank. 2. If he fails to pass the test, his name will be removed and he needs to apply fresh. | जल्द आ रहा है | ||
| 2022-06-07 | Improvements made in filing process of GSTR-4 (Annual) - New Functionality (1/2) | Taxpayers who opt for Composition Levy are required to file an annual return in Form GSTR-4 from FY 2019-20 onwards.
Several taxpayers were earlier filing GSTR-4 without filling up the required details in Table-6 of the said form with the result that the amount paid through Form CMP-08s became excess tax paid and got credited to Negative Liability Statement. | जल्द आ रहा है | ||
| 2022-06-07 | Improvements made in filing process of GSTR-4 (Annual) - New Functionality (2/2) | To prevent taxpayers from making this mistake, they are now shown a warning message, Table 4A to 4D and Table 6 outward supplies are required to be filled by taxpayer".
A reconciliation statement is also shown if difference occurs in table 5 and 6. In addition, for taxpayer who have already filed Form GSTR-4 wrongly for the FY2019-20 and/ or FY2020-21, a code was deployed to update the Ledger Tables for correcting the negative liability, in the backend. | जल्द आ रहा है | ||
| 2022-06-07 | Bank Account Validation of Taxpayers - New Functionality | To establish correctness of the bank account and to verify whether it matches with the PAN of the business, validation of the bank account details provided at the time of GST Registration/Creation of Temp ID by the taxpayers is being done with CBDT database. The status based on validation result is displayed to the registered taxpayers and Temp ID holders on their dashboard. Taxpayers and Temp ID holders can verify their Bank account status in their profile by clicking on the Bank Account Status link under Quick Links. | जल्द आ रहा है | ||
| 2022-05-31 | Timeline to update UDINs Extended Again by CBDT | The Central Board of Direct Tax (CBDT) has again extended the timeline to update Unique Document Identification Number (UDIN) on Income Tax Portal. The timeline to update UDINs is extended till 30th June 2022 to give more time to Chartered Accountants (CAs) to correctly verify and upload UDINs. | केंद्रीय प्रत्यक्ष कर बोर्ड (सीबीडीटी) ने आयकर पोर्टल पर विशिष्ट दस्तावेज पहचान संख्या (यूडीआईएन) को अपडेट करने की समयसीमा फिर से बढ़ा दी है। UDIN को सही ढंग से सत्यापित करने और अपलोड करने के लिए चार्टर्ड एकाउंटेंट्स (CAs) को अधिक समय देने के लिए UDIN को अपडेट करने की समय-सीमा 30 जून 2022 तक बढ़ा दी गई है। | ||
| 2022-05-31 | Relaxation for LLPs for Late Fees | Relaxation granted in view of transition from Version 2 of MCA21 to version 3 for LLPs of Additional Fees for all event based form whose due dates are falling between February 25 to May 31 - 2022 till June 30, 2022. - General Circular 06/2022 | एमसीए21 के वर्जन 2 से वर्जन 3 में ट्रांजेक्शन के मद्देनजर सभी इवेंट आधारित फॉर्म के लिए अतिरिक्त शुल्क के एलएलपी के लिए छूट दी गई है, जिनकी देय तिथियां 25 फरवरी से 31 मई 2022 के बीच 30 जून 2022 तक गिर रही हैं - सामान्य परिपत्र 06/2022 | February 25 to May 31 - 2022 | |
| 2022-05-27 | Relaxation for Form 11 | Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) by Limited Liability Partnerships up to 30th June, 2022 in view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of LLPs. | एमसीए-21 के संस्करण-2 से संस्करण-3 में संक्रमण के मद्देनजर और एलएलपी की ओर से अनुपालन को बढ़ावा देने के लिए 30 जून, 2022 तक सीमित देयता भागीदारी द्वारा फॉर्म 11 (वार्षिक रिटर्न) दाखिल करने में देरी के मामले में अतिरिक्त शुल्क का भुगतान करने में छूट। | ||
| 2022-05-26 | Late fee on FORM GSTR-4 waived - FY 2021-22 | Late fee payable for delay in furnishing of FORM GSTR-4 for the FY 2021-22 shall stand waived for the period from the 1st day of May, 2022 till the 30th day of June, 2022 - Notification no 07/2022 - Central Tax | वित्त वर्ष 2021-22 के लिए फॉर्म जीएसटीआर-4 प्रस्तुत करने में देरी के लिए देय विलंब शुल्क मई, 2022 के पहले दिन से जून, 2022 के 30 वें दिन तक की अवधि के लिए माफ कर दिया जाएगा। - - Notification no 07/2022 - Central Tax | FY 21-22 | |
| 2022-05-19 | GST Council recommendations are not binding on Centre and states | The Goods and Services Tax (GST) Council's recommendations are not binding on the Centre and the states and those have only 'persuasive value', the Supreme Court ruled in a landmark judgment on Thursday while striking down the integrated GST (IGST) levy in an ocean freight case. | माल और सेवा कर (जीएसटी) परिषद की सिफारिशें केंद्र और राज्यों पर बाध्यकारी नहीं हैं और उनके पास केवल "प्रेरक मूल्य" है, सुप्रीम कोर्ट ने गुरुवार को एक ऐतिहासिक फैसले में समुद्री माल एकीकृत जीएसटी (आईजीएसटी) लेवी को हटा दिया। | ||
| 2022-05-17 | GSTR 3B, PMT-06 Due Dates Extended | For April 2022 GSTR 3B Due Date Extended to 24/05/22 (refer notification No. 05/2022-Central Tax dated 17.05.2022). and For QRMP Taxpayers, GST Payment (PMT-06) Due Date Extended to 27/05/22. (refer notification No. 06/2022-Central Tax dated 17.05.2022) Also the old advisory to claim as per GSTR - 2A has been removed by GSTN. | जल्द आ रहा है | Apr, 22 | |
| 2022-05-16 | New Madhya Pradesh E-way Bill news | अब तक केवल 2% वस्तुओं के लिए ही ई-वे बिल था जरूरी। मप्र में टैक्स मुक्त सामान और दवाई व मेडिकल उपकरणों को छोड़कर शेष सभी वस्तुओं को एक जिले से दूसरे जिले में भेजने के लिए ई-वे बिल अनिवार्य कर दिया गया है। यह नियम 15 अप्रैल से लागू होगा। हालांकि ई-वे बिल एक लाख रु. से ज्यादा कीमत के सामान पर जरूरी होगा। अभी तक 50 हजार रु. से ज्यादा के माल पर इसकी जरूरत थी। माल का मूल्य टैक्स के साथ इससे अधिक होने पर ही ई वे बिल या माल पास लगता था। | |||
| 2022-04-15 | New Madhya Pradesh E-way Bill Rule | म. प्र. राज्य में ई वे बील के नये नियम राज्य सरकार ने आज दिनांक २३/३/२०२२ को परिपत्र क्र एफ/ए/०८/२०१८/१/५ जारी करते हुए, प्रदेश के व्यापारी वर्ग के लिए ई वे बिल की अनिवार्यता का नया नियम जारी किया है । इस नये नियम के अनुसार * म. प्र. राज्य के ही जिला के ज़िले के अन्दर * परिवहन पर कीसी भी वस्तु पर, किसी भी मूल्य के बील पर, ई वे बील की अनिवार्यता को समाप्त कर दिया है, ई वे बील ज़िले से बाहर अन्य ज़िले पर माल के परिवहन पर लागू होगा, यदि वस्तु का मूल्य १ लाख के मूल्य से ज़्यादा हो और वह वस्तु पान के मसाला, तम्बाकू, छैनी, सिगरेट, बीड़ी या चबाने वाली तम्बाकू नहीं हैं, यदि वस्तु पान मसाला, तम्बाकू, बीड़ी सिगरेट, छैनी, चबाने वाली तम्बाकू है तो यहाँ मूल्य ५००००/-₹ से ज़्यादा होने पर ही ई वे बील अनिवार्य रहेगा, लेकिन ज़िले से जिले में ही मेडिकल दवाइयों, सर्जिकल उपकरण, अक्टीव फ़ार्मा इनगेरिइन्टस, एच एन एस कोड की वस्तु ३००३,३००४,३००६ के लिए कोई भी मूल्य की वस्तु पर ई वे बिल नहीं लगेगा। यह प्रावधान १५/४/२०२२ से प्रभावशील रहेगा । | |||
| 2022-05-15 | Incomplete GSTR-2B in some cases - regarding. | 1. It has been noticed that in a few cases, certain records are not reflected in the GSTR-2B statement for the period of April 2022. However, such records are visible in GSTR-2A of such recipients. 2. The technical team is working to resolve this issue for the impacted taxpayers and generate fresh GSTR-2B at the earliest. 3. In the interim, affected taxpayers interested in filing GSTR-3B are requested to file the return on self-assessment basis using GSTR-2A. From Team GSTN | 1. यह देखा गया है कि कुछ मामलों में, कुछ रिकॉर्ड अप्रैल 2022 की अवधि के लिए GSTR-2B स्टेटमेंट में परिलक्षित नहीं होते हैं। हालांकि, ऐसे प्राप्तकर्ताओं के GSTR-2A में ऐसे रिकॉर्ड दिखाई देते हैं।
2. तकनीकी टीम प्रभावित करदाताओं के लिए इस मुद्दे को हल करने और जल्द से जल्द नए GSTR-2B उत्पन्न करने के लिए काम कर रही है। 3. अंतरिम में, GSTR-3B दाखिल करने में रुचि रखने वाले प्रभावित करदाताओं से अनुरोध है कि वे GSTR-2A का उपयोग करके स्व-मूल्यांकन के आधार पर रिटर्न दाखिल करें। - टीम जीएसटीएन | Apr, 22 | |
| 2022-05-11 | CBDT amends rules related to quoting of PAN in relation to certain Banking Transactions | Income-tax (Fifteenth Amendment) Rules, 2022. Every person who intends to enter into a transaction of: (a) cash deposit or deposits aggregating to 20 lakh rupees or more in a FY. (b) cash withdrawal or withdrawals aggregating to 20 lakh rupees or more in a FY. (c) opening of a current account or cash credit account, should file Application for allotment of a PAN at least seven days before. | आयकर (पंद्रहवां संशोधन) नियम, 2022। प्रत्येक व्यक्ति जो इस तरह के लेनदेन में प्रवेश करने का इरादा रखता है: (ए) एक वित्तीय वर्ष में नकद जमा या 20 लाख रुपये या उससे अधिक की जमा राशि। (बी) एक वित्तीय वर्ष में कुल 20 लाख रुपये या उससे अधिक की नकद निकासी या निकासी (सी) एक चालू खाता या नकद क्रेडिट खाता खोलना कम से कम सात दिन पहले पैन के आवंटन के लिए आवेदन दाखिल करना चाहिए। | ||
| 2022-05-06 | Holding of AGM through Video Conference till 31st Dec, 22. | With reference to Ministry's General Circular Nos. 20/2020 dated 05.05.2020, General Circular No. 02/2021 dated 13.01.2021, General Circular No. 19/2021 dated 08.12.2021 and 21/2021 dated 14.12.2021, it has been decided to allow the companies whose AGMs are due in the Year 2022, to conduct their AGMs on or before 31st December, 2022 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated 05.05.2020. | मंत्रालय के सामान्य परिपत्र संख्या 20/2020 दिनांक 05.05.2020, सामान्य परिपत्र संख्या 02/2021 दिनांक 13.01.2021, सामान्य परिपत्र संख्या 19/2021 दिनांक 08.12.2021 और 21/2021 दिनांक 14.12.2021 के संदर्भ में, यह है जिन कंपनियों की एजीएम वर्ष 2022 में होने वाली हैं, उन्हें सामान्य परिपत्र संख्या 20/2020 दिनांक 05.05.05 के पैरा 3 और पैरा 4 में निर्धारित आवश्यकताओं के अनुसार 31 दिसंबर, 2022 को या उससे पहले अपनी एजीएम आयोजित करने की अनुमति देने का निर्णय लिया गया है। .2020। | ||
| 2022-05-05 | Tax Audit Offline Utilities Released | Offline Utilities for filing Statutory Income Tax Form 3CA-3CD & 3CB-3CD for FY 21-22 released. Audit report under section 44AB [Audited under any other law] Statement of particulars under section 44AB [FORM No. 3CA-3CD] and Statement of particulars under section 44AB [FORM No. 3CB-3CD] can be filed now. | वित्तीय वर्ष 21-22 के लिए वैधानिक आयकर फॉर्म 3CA-3CD और 3CB-3CD दाखिल करने के लिए ऑफ़लाइन उपयोगिताएँ जारी की गईं। धारा 44एबी के तहत ऑडिट रिपोर्ट [किसी अन्य कानून के तहत ऑडिट] धारा 44एबी के तहत विवरण का विवरण [फॉर्म नंबर 3सीए-3सीडी] और धारा 44एबी के तहत विवरण का विवरण [फॉर्म नंबर 3सीबी-3सीडी] अब दायर किया जा सकता है। | AY 2022-23 | |
| 2022-05-06 | Companies (Share Capital and Debentures) Amendment Rules 2022 | MCA has notified Companies (Share Capital and Debentures) Amendment Rules 2022 to amend the Companies (Share Capital and Debenture) Rules, 2014. In the Annexure, in Form No.SH-4, before the Enclosures, new declaration is inserted regarding whether Transferee is not required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. | एमसीए ने कंपनी (शेयर पूंजी और डिबेंचर) नियम, 2014 में संशोधन करने के लिए कंपनी (शेयर पूंजी और डिबेंचर) संशोधन नियम 2022 को अधिसूचित किया है। अनुलग्नक में, प्रपत्र संख्या SH-4 में, संलग्नक से पहले, इस संबंध में नई घोषणा डाली जाती है कि क्या विदेशी मुद्रा प्रबंधन (गैर-ऋण लिखत) नियम, 2019 के तहत अंतरिती को सरकारी अनुमोदन प्राप्त करने की आवश्यकता नहीं है। | ||
| 2022-05-02 | Updated Return return u/s 139(8A) | CBDT Notifies Form and Manner for filing Updated Return in Notification No. 48/2022 dated 29-04-22. Updated Return can be filed from the AY 2020-21 onwards. Return shall be filed in form no. ITR-U alongwith applicable IT form from ITR-1 to ITR-7. Return Can be updated on account of Below: 1) Return Previously not filed 2) Income not reported correctly 3) wrong heads of income chosen 4) Reduction of Carried forward Loss 5) Reduction of Unabsorbed Depreciation 6) Reduction of Tax Credit 7) Wrong rate of tax 8) others | सीबीडीटी अधिसूचना संख्या 48/2022 दिनांक 29-04-22 में अद्यतन विवरणी दाखिल करने के लिए प्रपत्र और तरीके को अधिसूचित करता है। अद्यतन रिटर्न AY 2020-21 से दाखिल किया जा सकता है। रिटर्न फॉर्म नं. आईटीआर-1 से आईटीआर-7 तक लागू आईटी फॉर्म के साथ आईटीआर-यू। विवरणी को निम्न कारणों से अद्यतन किया जा सकता है: 1) रिटर्न पहले दाखिल नहीं किया गया 2) आय की सही सूचना नहीं दी गई 3) आय के गलत शीर्ष चुने गए 4) कैरीड फॉरवर्ड लॉस में कमी 5) अनवशोषित मूल्यह्रास में कमी 6) टैक्स क्रेडिट में कमी 7) कर की गलत दर 8) अन्य | AY 2021 onwards | |
| 2022-04-29 | Updated Return Forms | Updated Return Form notified vide gazette notification dated 29.04.22 Rule 12AC notified ITR - U for Updated return u/s 139(8A). Updated return can be filed for A.Y. 20-21 onwards alongwith ITR 1 to 7 | दिनांक 29.04.22 की राजपत्र अधिसूचना द्वारा अधिसूचित अद्यतन विवरणी प्रपत्र नियम 12एसी ने धारा 139(8ए) के तहत अपडेटेड रिटर्न के लिए आईटीआर-यू अधिसूचित किया। A.Y. के लिए अद्यतन विवरणी दाखिल की जा सकती है। आईटीआर 1 से 7 . के साथ 20-21 से आगे | AY 2021 onwards | |
| 2022-04-29 | UDIN Timeline Extended to 31 May | The timeline to update UDIN is extended to 31st May, 2022 to give more time to CAs to correctly verify and update UDINs | UDIN को सही ढंग से सत्यापित करने और अद्यतन करने के लिए CA को अधिक समय देने के लिए UDIN को अपडेट करने की समय-सीमा 31 मई, 2022 तक बढ़ा दी गई है | ||
| 2022-04-22 | ITR Mandatory | In case of person other than Company/Firm, ITR Filing made compulsory even if your Taxable Income is less than Slab Limit if: 1) T/O exceeds Rs 60 L 2) Professional Receipts Exceed Rs 10 L 3) TDS/ TCS of Rs 25000 or more is deducted/ Collected [Other Than Senior Citizen] 4) TDS/ TCS of Rs 50000 or more is deducted/ Collected in case of Senior Citizen 5) Deposit in Saving is Rs 50 L or more | कंपनी/फर्म के अलावा अन्य व्यक्ति के मामले में, आईटीआर फाइलिंग अनिवार्य कर दी गई है, भले ही आपकी कर योग्य आय स्लैब सीमा से कम हो, यदि: 1) टी/ओ 60 रुपये से अधिक है 2) व्यावसायिक प्राप्तियां 10 लाख रुपये से अधिक है 3) 25000 रुपये या उससे अधिक का टीडीएस / टीसीएस काटा / एकत्र किया जाता है [वरिष्ठ नागरिक के अलावा] 4) वरिष्ठ नागरिक के मामले में 50000 रुपये या उससे अधिक का टीडीएस / टीसीएस काटा / एकत्र किया जाता है 5) बचत में जमा 50 लाख या अधिक है | ||
| 2022-04-22 | ITR Compulsory if TDS/TCS Rs.25000 during previous year | Central Board of Direct Taxes (CBDT) vide Income Tax Notification dated 21st April 2022 has made Income Tax Return - ITR filing compulsory for a person other than a company or a firm whose aggregate of Tax Deducted at Source - TDS and Tax Collected at Source - TCS during the previous year, in the case of the person, is Twenty-Five Thousand Rupees - Rs.25,000 or more. | केंद्रीय प्रत्यक्ष कर बोर्ड (सीबीडीटी) ने 21 अप्रैल 2022 की आयकर अधिसूचना के माध्यम से आयकर रिटर्न - आईटीआर फाइलिंग को किसी कंपनी या फर्म के अलावा किसी अन्य व्यक्ति के लिए अनिवार्य कर दिया है, जिसका कुल कर स्रोत पर कटौती - टीडीएस और स्रोत पर कर संग्रह - पिछले वर्ष के दौरान टीसीएस, व्यक्ति के मामले में, पच्चीस हजार रुपये - 25,000 रुपये या अधिक है। | ||
| 2022-04-22 | ITR Compulsory If Turnover Exceeds 60 Lakhs. | Central Board of Direct Taxes (CBDT) vide Income Tax Notification dated 21st April 2022 has made Income Tax Return - ITR filing compulsory for a person other than a company or a firm whose sales, turnover or gross receipts, as the case may be, in the business exceeds rupees sixty lakh during the previous year. | केंद्रीय प्रत्यक्ष कर बोर्ड (सीबीडीटी) ने 21 अप्रैल 2022 की आयकर अधिसूचना के माध्यम से आयकर रिटर्न - आईटीआर फाइलिंग को किसी कंपनी या फर्म के अलावा किसी अन्य व्यक्ति के लिए अनिवार्य कर दिया है, जिसकी बिक्री, कारोबार या सकल प्राप्तियां, जैसा भी मामला हो, कारोबार पिछले वर्ष के दौरान साठ लाख रुपये से अधिक है। | ||
| 2022-04-09 | UDIN Updation for IT | UDIN Updation has been enabled for Form 3CB-3CD on Income Tax Portal . Last Date to Update UDIN is 30/04/22 . | आयकर पोर्टल पर फॉर्म 3CB-3CD के लिए UDIN अपडेशन सक्षम किया गया है . UDIN अपडेट करने की अंतिम तिथि 30/04/22 है। | ||
| 2022-04-09 | IT Portal not accessible | IT Portal will not be accessible from Saturday 9th April 8.00 PM to Sunday 10th April 10.00 AM IST. | आईटी पोर्टल शनिवार 9 अप्रैल रात 8 बजे से रविवार 10 अप्रैल सुबह 10.00 बजे तक उपलब्ध नहीं होगा। | ||
| 2022-04-05 | Social Audit of CSR spending | The government plans to make it mandatory for companies to conduct social auditing of their corporate social responsibility (CSR) spending as part of an initiative to further tighten the CSR norms in the country. Officials in the Ministry of Corporate Affairs (MCA) said the social audit will begin with public sector undertakings (PSUS) and then extended to all the corporate entities. SEBI has mandated ICAI to prepare Social audit standards. | सरकार की योजना देश में सीएसआर मानदंडों को और कड़ा करने की पहल के तहत कंपनियों के लिए अपने कॉर्पोरेट सामाजिक उत्तरदायित्व (सीएसआर) खर्च की सामाजिक लेखा परीक्षा करना अनिवार्य करने की है। कॉरपोरेट मामलों के मंत्रालय (एमसीए) के अधिकारियों ने कहा कि सोशल ऑडिट सार्वजनिक क्षेत्र के उपक्रमों (पीएसयूएस) से शुरू होगा और फिर सभी कॉरपोरेट संस्थाओं तक विस्तारित होगा। सेबी ने आईसीएआई को सोशल ऑडिट मानकों को तैयार करने के लिए अनिवार्य किया है। | ||
| 2022-04-05 | CA Amendment Bill passed | Parliament passes the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021 | Parliament passes the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021 | ||
| 2022-04-05 | Utilities for ITR released. | CBDT Released Utility for E Filing Income Tax Returns for Form ITR-1 to ITR-4. | सीबीडीटी ने आईटीआर-1 से आईटीआर-4 फॉर्म के लिए ई-फाइलिंग आयकर रिटर्न के लिए उपयोगिता जारी की। | FY 21-22 | |
| 2022-04-01 | CA Amendment Bill | Increase in the Penalty amount Under the Acts, in cases of professional or other misconduct by the members, the Committees may: 1) reprimand or remove the member from the Register of the Institute, or 2) impose a fine of up to Rs. 5 lakhs. The Bill increases the maximum amount of fine to Rs. 10 lakh. The Bill also provides that the Committee may take certain actions against the firm which is found habitual offender, i.e. (if a partner or owner of a firm is repeatedly found guilty of misconduct during the last five years). The actions include: 1) prohibiting the firm from undertaking activities related to the profession of chartered account, cost accountant, or company secretary, as the case may be, for up to two years, or 2) imposing of a fine of up to Rs 50 lakhs. | जुर्माने की राशि में वृद्धि अधिनियमों के तहत, सदस्यों द्वारा पेशेवर या अन्य कदाचार के मामलों में, समितियां: 1) संस्थान के रजिस्टर से सदस्य को फटकारना या हटाना, या 2) रुपये तक का जुर्माना लगाया। 5 लाख। बिल जुर्माने की अधिकतम राशि को बढ़ाकर रु. 10 लाख। बिल में यह भी प्रावधान है कि समिति उस फर्म के खिलाफ कुछ कार्रवाई कर सकती है जो आदतन अपराधी पाई जाती है, यानी (यदि पिछले पांच वर्षों के दौरान किसी फर्म का भागीदार या मालिक बार-बार कदाचार का दोषी पाया जाता है)। क्रियाओं में शामिल हैं: 1) फर्म को चार्टर्ड अकाउंट, कॉस्ट अकाउंटेंट, या कंपनी सचिव, जैसा भी मामला हो, के पेशे से संबंधित गतिविधियों को दो साल तक करने से रोकना, या 2) 50 लाख रुपये तक का जुर्माना लगाना। | ||
| 2022-04-01 | Due Dates Extended | Due dates extended - 1) Trust Registrations - Due date of filing form 10AB extended to 30th September, 2022. 2) Audit Trail to be Applicable from: 01.04.2023 3) CSR 2 Extension till 31.05.2022. | बढ़ाई गई तिथियां - 1) ट्रस्ट पंजीकरण - फॉर्म 10एबी दाखिल करने की नियत तिथि 30 सितंबर, 2022 तक बढ़ा दी गई है। 2) ऑडिट ट्रेल से लागू होना: 01.04.2023 3) सीएसआर 2 विस्तार 31.05.2022 तक। | ||
| 2022-03-31 | PAN Aadhar Linking | PAN will not become inoperative if it is not linked with Aadhaar up to 31st March 2023. BUT as per section 234H, Penalty of Rs 500 if linked within 3 months up to 30.06.2022 and Penalty of Rs 1000 if linked after 30.06.2022 | 31 मार्च 2023 तक आधार से लिंक नहीं होने पर पैन निष्क्रिय नहीं होगा। लेकिन धारा 234ज के अनुसार, 30.06.2022 तक 3 महीने के भीतर लिंक करने पर 500 रुपये का जुर्माना और 30.06.2022 के बाद लिंक करने पर 1000 रुपये का जुर्माना | ||
| 2022-04-01 | THE FINANCE ACT 2022 | THE FINANCE ACT 2022 received the assent of President on 30/03/22. | वित्त अधिनियम 2022 को 30/03/22 को राष्ट्रपति की सहमति प्राप्त हुई। | ||
| 2022-03-28 | ICAI President on Audit function | Chartered accountants should not think of becoming auditors if they cant meet the expectation gap, and should rather look at alternative avenues like litigation practice in GST, or insolvency, or valuation practice, said Debashis Mitra, President at the Institute of Chartered Accountants of India (ICAI). "Audit is a serious business today" - the President emphasised. His comments come in the backdrop of auditors continuing to face increased scrutiny from regulators and the public in the wake of spurt in business and accounting failures. | इंस्टीट्यूट ऑफ चार्टर्ड अकाउंटेंट्स ऑफ इंडिया के अध्यक्ष देबाशीष मित्रा ने कहा कि चार्टर्ड एकाउंटेंट को ऑडिटर बनने के बारे में नहीं सोचना चाहिए, अगर वे उम्मीद के अंतर को पूरा नहीं कर सकते हैं, बल्कि जीएसटी में मुकदमेबाजी अभ्यास, या दिवाला, या मूल्यांकन अभ्यास जैसे वैकल्पिक तरीकों को देखना चाहिए। आईसीएआई)। "लेखापरीक्षा आज एक गंभीर व्यवसाय है" - राष्ट्रपति ने जोर दिया। उनकी टिप्पणी ऐसे समय में आई है जब लेखा परीक्षकों को व्यापार और लेखा विफलताओं में तेजी के मद्देनजर नियामकों और जनता से बढ़ती जांच का सामना करना पड़ रहा है। | ||
| 2022-03-24 | Recommendation to formation of IIAs | The Standing Committee on Finance’s report on the amendment Bill on three professions - Chartered accountants, company secretaries and cost accountants - has stated that multiple bodies on the lines of advanced countries are required in order to promote healthy competition. The Panel has recommended that government must consider setting up Institutes of Accounting (IIA) akin to IITs and IIMs for further development of the accounting and finance profession in the country. | तीन व्यवसायों - चार्टर्ड एकाउंटेंट, कंपनी सचिवों और लागत लेखाकारों पर संशोधन विधेयक पर वित्त की स्थायी समिति की रिपोर्ट में कहा गया है कि स्वस्थ प्रतिस्पर्धा को बढ़ावा देने के लिए उन्नत देशों की तर्ज पर कई निकायों की आवश्यकता है। पैनल ने सिफारिश की है कि सरकार को देश में लेखांकन और वित्त पेशे के आगे विकास के लिए आईआईटी और आईआईएम के समान लेखा संस्थान (आईआईए) स्थापित करने पर विचार करना चाहिए। | ||
| 2022-03-16 | Income Tax Department To Issue Notices To 700 Crypto Investors | Nearly a month and a half after India’s Finance Minister announced tax on crypto during Budget 2022, the IncomeT ax department seems set to issue notices to about 700 investors involved in high-value crypto transactions, as per ET report. These 700 investors have come under the scanner of the income tax department, which is now proposing to issue notices to them. These individuals or entities could face 30% tax, penalty and interest, as per the report. | ईटी की रिपोर्ट के अनुसार, भारत के वित्त मंत्री द्वारा बजट 2022 के दौरान क्रिप्टो पर टैक्स की घोषणा के लगभग डेढ़ महीने बाद, आयकर विभाग उच्च मूल्य वाले क्रिप्टो लेनदेन में शामिल लगभग 700 निवेशकों को नोटिस जारी करने के लिए तैयार है। ये 700 निवेशक आयकर विभाग की जांच के घेरे में आ गए हैं, जो अब इन्हें नोटिस जारी करने का प्रस्ताव कर रहा है। रिपोर्ट के अनुसार इन व्यक्तियों या संस्थाओं को 30% कर, जुर्माना और ब्याज का सामना करना पड़ सकता है। | FY 21-22 | |
| 2022-03-15 | CBDT Circular on TDS from Salary under 192 for FY 2021-22 | CBDT has issued a Circular on TDS from Salary under 192 for FY 2021-22 (AY 2022-23) vide Circular No. 04-2022 dated 15th March 2022 detailing the procedure to be followed by an employer for deducting TDS from the salary income of employees paid during FY 2021-22 or (AY 2022-23). | सीबीडीटी ने वित्तीय वर्ष 2021-22 (आयु 2022-23) के लिए 192 के तहत वेतन से टीडीएस पर परिपत्र संख्या 04-2022 दिनांक 15 मार्च 2022 के माध्यम से एक परिपत्र जारी किया है जिसमें नियोक्ता द्वारा वेतन आय से टीडीएस काटने के लिए अपनाई जाने वाली प्रक्रिया का विवरण दिया गया है। कर्मचारियों को वित्त वर्ष 2021-22 या (AY 2022-23) के दौरान भुगतान किया गया। | FY 21-22 | |
| 2022-03-13 | CVC has recommended special audit into accounts of ICAI | The Central Vigilance Commission (CVC) has recommended a special audit into the accounts of the Institute of Chartered Accountants of India (ICAI) by the national auditor, the Comptroller and Auditor General (CAG). It has also asked for greater disclosures and transparency in the functioning of the institute. The recommendations come at a time when the parliamentary standing committee on finance is examining crucial amendments to the ICAI Act, 1949. The recommendations came after CVC was asked to examine complaints of alleged financial irregularities in the institute in the years 2019-20 and 2020-21 during the tenures of former presidents Prafulla Chhajed and Atul Gupta, respectively. | केंद्रीय सतर्कता आयोग (CVC) ने राष्ट्रीय लेखा परीक्षक, नियंत्रक और महालेखा परीक्षक (CAG) द्वारा भारतीय चार्टर्ड एकाउंटेंट्स संस्थान (ICAI) के खातों में एक विशेष ऑडिट की सिफारिश की है। इसने संस्थान के कामकाज में अधिक खुलासे और पारदर्शिता के लिए भी कहा है। सिफारिशें ऐसे समय में आई हैं जब वित्त पर संसदीय स्थायी समिति आईसीएआई अधिनियम, 1949 में महत्वपूर्ण संशोधनों की जांच कर रही है। सीवीसी को क्रमशः पूर्व अध्यक्षों प्रफुल्ल छाजेद और अतुल गुप्ता के कार्यकाल के दौरान वर्ष 2019-20 और 2020-21 में संस्थान में कथित वित्तीय अनियमितताओं की शिकायतों की जांच करने के लिए कहा गया था। | ||
| 2022-03-11 | New Facility to File various IT forms | Income Tax Department enabled New Facility to file various IT forms on the E-filing Portal The Income Tax Department released an update addressing the ability to file IT forms 10AB, 10IG, 10IH, and 5C after logging in to e-file -> Income Tax Forms -> File Income Tax Forms. | आयकर विभाग ने ई-फाइलिंग पोर्टल पर विभिन्न आईटी फॉर्म भरने के लिए नई सुविधा को सक्षम किया आयकर विभाग ने ई-फाइल में लॉग इन करने के बाद आईटी फॉर्म 10AB, 10IG, 10IH, और 5C फाइल करने की क्षमता को संबोधित करते हुए एक अपडेट जारी किया -> इनकम टैक्स फॉर्म -> फाइल इनकम टैक्स फॉर्म। | FY 22-23 | |
| 2022-03-06 | LLP and Ebook Services under Maintenance | As per MCA website update, LLP and Ebook Services are under maintenance and are likely to be available post 4pm today that is 6 March 22. | एमसीए वेबसाइट अपडेट के अनुसार, एलएलपी और ईबुक सेवाएं रखरखाव के अधीन हैं और आज शाम 4 बजे यानी 22 मार्च को उपलब्ध होने की संभावना है। | ||
| 2022-03-04 | Now Taxpayers can check eligibility of E-Invoice on Portal | The taxpayer can check his eligibility for e-Invoicing by following the below mentioned process: 1. Go at Search 2. Click on e-Invoice Status of Taxpayer 3. Mention your GST Number 4. Enter Captcha code | करदाता नीचे दी गई प्रक्रिया का पालन करके ईचालान के लिए अपनी पात्रता की जांच कर सकता है: 1. खोज पर जाएं 2. करदाता की ई-चालान स्थिति पर क्लिक करें 3. अपने जीएसटी नंबर का उल्लेख करें 4. कैप्चा कोड दर्ज करें | ||
| 2022-03-04 | ICAI allows CA to register on GeM | ICAI allows CA in Practice, Chartered Accountants Firms to register on GeM Portal for rendering Professional Services. The information being published on the portal should be in compliance with the provisions of Code of Ethics. | आईसीएआई अभ्यास में सीए, चार्टर्ड एकाउंटेंट फर्मों को व्यावसायिक सेवाएं प्रदान करने के लिए जीईएम पोर्टल पर पंजीकरण करने की अनुमति देता है। पोर्टल पर प्रकाशित की जा रही सूचना आचार संहिता के प्रावधानों के अनुपालन में होनी चाहिए। | ||
| 2022-04-01 | E-invoicing Mandatory | CBIC has made the e-invoicing system mandatory for taxpayers with a turnover higher than Rs.20 crore from 1st April 2022. | CBIC ने 1 अप्रैल 2022 से 20 करोड़ रुपये से अधिक के कारोबार वाले करदाताओं के लिए ई-चालान प्रणाली को अनिवार्य कर दिया है। | Apr 22 onwards | |
| 2022-02-24 | CA Inter Results Date Announced | Results of the Chartered Accountants Intermediate Examination (Old Course & New Course) held in December 2021 are likely to be declared on Saturday, the 26th February 2022(evening)/Sunday, the 27th February 2022 | दिसंबर 2021 में आयोजित चार्टर्ड एकाउंटेंट्स इंटरमीडिएट परीक्षा (पुराना पाठ्यक्रम और नया पाठ्यक्रम) के परिणाम शनिवार, 26 फरवरी 2022 (शाम)/रविवार, 27 फरवरी 2022 को घोषित किए जाने की संभावना है। | ||
| 2022-02-23 | SRN Mandatory in MCA Communication | All the stakeholders are hereby informed that the Registrar of Companies and the Regional Directors of the Ministry of Corporate Affairs at all locations have been directed by the Ministry to enter all cases of complaints against the Companies and the LLPs, Inspections, Inquiries, Investigations and Prosecutions in the MCA Electronic registry i.e., MCA21 before issuing any letter, notice, order etc. Thereafter, a Service Request Number (SRN) is generated. They have also been directed to mention such SRN mandatorily in all such communications to Companies, LLPs, their officers, auditors, etc., on all communications. | सभी हितधारकों को एतद्द्वारा सूचित किया जाता है कि सभी स्थानों पर कंपनी रजिस्ट्रार और कॉर्पोरेट मामलों के मंत्रालय के क्षेत्रीय निदेशकों को मंत्रालय द्वारा कंपनियों और एलएलपी, निरीक्षण, पूछताछ, जांच और अभियोजन के खिलाफ शिकायतों के सभी मामलों को दर्ज करने का निर्देश दिया गया है। कोई पत्र, नोटिस, आदेश आदि जारी करने से पहले एमसीए इलेक्ट्रॉनिक रजिस्ट्री यानी एमसीए21 में। उसके बाद, एक सेवा अनुरोध संख्या (एसआरएन) उत्पन्न होती है। उन्हें सभी संचारों पर कंपनियों, एलएलपी, उनके अधिकारियों, लेखा परीक्षकों आदि को ऐसे सभी संचारों में अनिवार्य रूप से ऐसे एसआरएन का उल्लेख करने का भी निर्देश दिया गया है। | ||
| 2022-02-25 | LLP e-Filings will not be available | Keeping in view of proposed launch of LLP Modules in MCA21 V3, please take note that LLP e-Filings will not be available from 25th Feb 2022, 12:00 AM till 05th Mar 2022, 11:59 PM. Stakeholders are advised to plan accordingly. | एमसीए21 वी3 में एलएलपी मॉड्यूल के प्रस्तावित लॉन्च को ध्यान में रखते हुए, कृपया ध्यान दें कि एलएलपी ई-फाइलिंग 25 फरवरी 2022, 12:00 पूर्वाह्न से 05 मार्च 2022, 11:59 बजे तक उपलब्ध नहीं होगी। हितधारकों को तदनुसार योजना बनाने की सलाह दी जाती है। | 10 Days | |
| 2022-02-01 | Budget 22 Highlights for Startups | Period of incorporation extended by one year, up to 31.03.2023 for eligible start-ups to avail tax benefit. Previously the period of incorporation valid up to 31.03.2022. | कर लाभ प्राप्त करने के लिए पात्र स्टार्ट-अप के लिए निगमन की अवधि एक वर्ष बढ़ाकर 31.03.2023 तक कर दी गई है। पहले निगमन की अवधि 31.03.2022 तक वैध थी। | FY 2022-23 | |
| 2022-02-01 | Budget 2022 Highlights for Income Tax | Introducing new 'Updated return' - Provision to file an Updated Return on payment of additional tax. - Will enable the assessee to declare income missed out earlier. - Can be filed within two years from the end of the relevant assessment year. Alternate Minimum Tax paid by cooperatives brought down from 18.5 per cent to 15 per cent to provide a level playing field between cooperative societies and companies. Surcharge on cooperative societies reduced from 12 per cent to 7 per cent for those having total income of more than Rs 1 crore and up to Rs 10 crores. | पेश है नया 'अपडेटेड रिटर्न' - अतिरिक्त कर के भुगतान पर अद्यतन विवरणी दाखिल करने का प्रावधान। - निर्धारिती को पहले छूटी हुई आय की घोषणा करने में सक्षम करेगा। - प्रासंगिक निर्धारण वर्ष के अंत से दो साल के भीतर दायर किया जा सकता है। सहकारी समितियों द्वारा भुगतान किए गए वैकल्पिक न्यूनतम कर को सहकारी समितियों और कंपनियों के बीच एक समान अवसर प्रदान करने के लिए 18.5 प्रतिशत से घटाकर 15 प्रतिशत किया गया। सहकारी समितियों पर अधिभार 1 करोड़ रुपये से अधिक और 10 करोड़ रुपये तक की कुल आय वालों के लिए 12 प्रतिशत से घटाकर 7 प्रतिशत कर दिया गया है। | FY 2022-23 | |
| 2022-02-01 | Budget Highlights for Crypto Currency | A clarity on taxation of cryptocurrencies was a long pending demand of players involved in the crypto industry. 1) Specific tax regime for virtual digital assets introduced. 2) Any income from transfer of any virtual digital asset to be taxed at the rate of 30 per cent. 3) No deduction in respect of any expenditure or allowance to be allowed while computing such income except cost of acquisition. 4) Loss from transfer of virtual digital asset cannot be set off against any other income. 5) To capture the transaction details, TDS to be provided on payment made in relation to transfer of virtual digital asset at the rate of 1 per cent of such consideration above a monetary threshold. 6) Gift of virtual digital asset also to be taxed in the hands of the recipient. | क्रिप्टोकरेंसी के कराधान पर स्पष्टता क्रिप्टो उद्योग में शामिल खिलाड़ियों की लंबे समय से लंबित मांग थी। 1) आभासी डिजिटल संपत्तियों के लिए विशिष्ट कर व्यवस्था शुरू की गई। 2) किसी भी आभासी डिजिटल संपत्ति के हस्तांतरण से होने वाली आय पर 30 प्रतिशत की दर से कर लगेगा। 3) अधिग्रहण की लागत को छोड़कर ऐसी आय की गणना करते समय किसी भी व्यय या भत्ते के संबंध में कोई कटौती की अनुमति नहीं है। 4) आभासी डिजिटल संपत्ति के हस्तांतरण से होने वाली हानि को किसी अन्य आय से समायोजित नहीं किया जा सकता है। 5) लेन-देन विवरण प्राप्त करने के लिए, एक मौद्रिक सीमा से ऊपर इस तरह के विचार के 1 प्रतिशत की दर से आभासी डिजिटल संपत्ति के हस्तांतरण के संबंध में किए गए भुगतान पर टीडीएस प्रदान किया जाना है। 6) आभासी डिजिटल संपत्ति का उपहार भी प्राप्तकर्ता के हाथों में लगाया जाना है। | FY 2022-23 | |
| 2022-02-01 | Budget 2022 Hightlights for Banking | 1) 100 per cent of 1.5 lakh post offices to come on the core banking system. 2) Scheduled Commercial Banks to set up 75 Digital Banking Units (DBUs) in 75 districts. 3) Introduction of Digital Rupee by the Reserve Bank of India starting 2022-23. | 1) 1.5 लाख डाकघरों में से 100 फीसदी कोर बैंकिंग सिस्टम पर आएंगे। 2) अनुसूचित वाणिज्यिक बैंक 75 जिलों में 75 डिजिटल बैंकिंग इकाइयां (डीबीयू) स्थापित करेंगे। 3) भारतीय रिजर्व बैंक द्वारा 2022-23 से डिजिटल रुपये की शुरूआत। | FY 2022-23 | |
| 2022-02-01 | Budget 2022 Highlights for MSMEs | 1) The Centre would roll out Raising and Accelerating MSME Performance (RAMP) programme with an outlay of ?6,000 crore over five years. 2)130 lakh MSMEs provided additional credit under Emergency Credit Linked Guarantee Scheme (ECLGS). 3)ECLGS will be extended up to March 2023. 4) Guarantee cover under ECLGS to be expanded by Rs 50000 Crore to total cover of Rs 5 Lakh Crore. 5) Rs 2 lakh Crore additional credit for Micro and Small Enterprises to be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE). 6) Udyam, e-shram, NCS and ASEEM portals to be interlinked. 7) The budget document also said that Customs duty exemption given to steel scrap last year was being extended for another year to provide relief to MSME secondary steel producers. | 1) केंद्र पांच वर्षों में ₹6,000 करोड़ के परिव्यय के साथ MSME प्रदर्शन (RAMP) को बढ़ाने और तेज करने का कार्यक्रम शुरू करेगा। 2) 130 लाख एमएसएमई ने आपातकालीन क्रेडिट लिंक्ड गारंटी योजना (ईसीएलजीएस) के तहत अतिरिक्त ऋण प्रदान किया। 3) ईसीएलजीएस को मार्च 2023 तक बढ़ाया जाएगा। 4) ईसीएलजीएस के तहत गारंटी कवर को 50000 करोड़ रुपये से बढ़ाकर कुल 5 लाख करोड़ रुपये किया जाएगा। 5) सूक्ष्म और लघु उद्यमों के लिए क्रेडिट गारंटी ट्रस्ट (CGTMSE) के तहत सूक्ष्म और लघु उद्यमों के लिए 2 लाख करोड़ रुपये का अतिरिक्त ऋण। 6) उद्यम, ई-श्रम, एनसीएस और असीम पोर्टलों को आपस में जोड़ा जाएगा। 7) बजट दस्तावेज में यह भी कहा गया है कि पिछले साल स्टील स्क्रैप को दी गई सीमा शुल्क छूट को एमएसएमई सेकेंडरी स्टील उत्पादकों को राहत देने के लिए एक और साल के लिए बढ़ाया जा रहा है। | FY 2022-23 | |
| 2022-01-21 | Gujarat High court - writ petition by THE SOUTHERN GUJARAT INCOME TAX BAR ASSOCIATION | Writ disposed off with observations- 1. CBDT has assured that all necessary steps have been taken to assure smooth filing of Income tax return and Tax audit report, also in case of any glitches are faced by users same shall be attended at the earliest. 2. The court also requested CBDT to roll out a specific e-mail id for issues faced in filing Income tax return as they created one for Tax audit report. 3. A team of six members or if need be more are to examine and resolve the E mails received at this E-mail ID. 4. With regard to the issue of interest levied under section 234A it was said that a writ is already pending before this court in this relation and hence this matter will be covered in that writ. | टिप्पणियों के साथ रिट का निपटारा- 1. सीबीडीटी ने आश्वासन दिया है कि आयकर रिटर्न और टैक्स ऑडिट रिपोर्ट को सुचारू रूप से दाखिल करने के लिए सभी आवश्यक कदम उठाए गए हैं, साथ ही उपयोगकर्ताओं द्वारा किसी भी तरह की गड़बड़ियों का सामना करने पर उन्हें जल्द से जल्द दूर किया जाएगा। 2. अदालत ने सीबीडीटी से आयकर रिटर्न दाखिल करने में आने वाली समस्याओं के लिए एक विशिष्ट ई-मेल आईडी को रोल आउट करने का भी अनुरोध किया क्योंकि उन्होंने टैक्स ऑडिट रिपोर्ट के लिए एक बनाया था। 3. इस ई-मेल आईडी पर प्राप्त ई-मेल की जांच और समाधान करने के लिए छह सदस्यों या यदि अधिक की आवश्यकता हो तो एक टीम है। 4. धारा 234ए के तहत लगाए गए ब्याज के मुद्दे के संबंध में यह कहा गया था कि इस संबंध में इस अदालत के समक्ष पहले से ही एक रिट लंबित है और इसलिए यह मामला उस रिट में शामिल किया जाएगा। | FY 2021 | |
| 2022-01-24 | Regulation of Cryptocurrency in Budget 22 | Lakhs of investors are rushing into crypto trading in the search of making a quick money. Most of them dont have a sense of the fundamentals of these assets. The government should regulate this sector asap to ensure that Indias capital is allocated for secure and productive purposes. Regulations in the field would encourage young investors who are blinded by crypto gains to be more careful with their investments. Furthermore, the government also needs to reach a consensus on the taxation of crypto. How to classify such earning, TDS, TCS and GST deductions etc. Do you think this Budget will have provisions on it? | जल्दी पैसा बनाने की तलाश में लाखों निवेशक क्रिप्टो ट्रेडिंग में भाग रहे हैं। उनमें से अधिकांश को इन संपत्तियों के मूल सिद्धांतों की समझ नहीं है। सरकार को इस क्षेत्र को यथाशीघ्र विनियमित करना चाहिए ताकि यह सुनिश्चित हो सके कि भारत की पूंजी सुरक्षित और उत्पादक उद्देश्यों के लिए आवंटित की गई है। क्षेत्र में विनियम युवा निवेशकों को प्रोत्साहित करेंगे जो क्रिप्टो लाभ से अंधे हैं अपने निवेश के साथ अधिक सावधान रहें। इसके अलावा, सरकार को क्रिप्टो के कराधान पर आम सहमति तक पहुंचने की भी आवश्यकता है। इस तरह की कमाई, टीडीएस, टीसीएस और जीएसटी कटौती आदि को कैसे वर्गीकृत किया जाए। क्या आपको लगता है कि इस बजट में इसके प्रावधान होंगे? | ||
| 2022-01-23 | Possibility of Reintroduction of Wealth and Inheritance Tax | Economists also want the re-introduction of wealth and inheritance tax to address rising inequality in Covid. A joint study by Ashoka University and think tank CBGA pitches for reintroduction of these taxes, while providing incentives for charitable donations. Indian richest families saw their wealth reach a record high in 2021, even as 84 per cent Indian households saw an income decline amid the pandemic, said a report from Oxfam India. | अर्थशास्त्री भी चाहते हैं कि कोविड में बढ़ती असमानता को दूर करने के लिए धन और विरासत कर को फिर से पेश किया जाए। अशोका यूनिवर्सिटी और थिंक टैंक सीबीजीए का एक संयुक्त अध्ययन धर्मार्थ दान के लिए प्रोत्साहन प्रदान करते हुए इन करों को फिर से शुरू करने की वकालत करता है। ऑक्सफैम इंडिया की एक रिपोर्ट में कहा गया है कि भारतीय सबसे अमीर परिवारों ने 2021 में अपनी संपत्ति को रिकॉर्ड ऊंचाई पर पहुंचा दिया, यहां तक कि 84 प्रतिशत भारतीय परिवारों ने भी आय में गिरावट देखी। | FY 2122 | |
| 2022-01-21 | STT mopup target for FY23 likely to be raised to ₹21,000 crore | Banking on the continuing buoyancy in the capital markets, the government is expected to sharply increase its target for security transaction tax (STT) collections next fiscal year. The Budget is likely to peg STT collections for fiscal 2023 at more than 21,000 crore, compared with the 12,500 crore it had targeted for the ongoing FY22. The actual STT collections for this year, in fact, are expected to be double of the budget estimate, officials in the finance ministry told ET. These had already reached 19,860 crore as on January 10. The STT levy, introduced in 2004, is a direct tax levied on every purchase and sale of securities that are listed on recognised stock exchanges in India. Government data suggest that the collections have seen healthy growth in the last three years, on account of increasing retail participation in the stock markets. | पूंजी बाजार में जारी उछाल को देखते हुए सरकार को अगले वित्त वर्ष में सुरक्षा लेनदेन कर (एसटीटी) संग्रह के अपने लक्ष्य में तेजी से वृद्धि की उम्मीद है। बजट में वित्त वर्ष 2023 के लिए एसटीटी संग्रह 21,000 करोड़ से अधिक होने की संभावना है, जबकि चालू वित्त वर्ष 22 के लिए 12,500 करोड़ का लक्ष्य रखा गया था। वित्त मंत्रालय के अधिकारियों ने ईटी को बताया कि इस साल वास्तविक एसटीटी संग्रह बजट अनुमान से दोगुना होने की उम्मीद है। ये 10 जनवरी तक 19,860 करोड़ तक पहुंच चुके थे। 2004 में शुरू की गई एसटीटी लेवी, भारत में मान्यता प्राप्त स्टॉक एक्सचेंजों में सूचीबद्ध प्रतिभूतियों की प्रत्येक खरीद और बिक्री पर लगाया जाने वाला प्रत्यक्ष कर है। सरकारी आंकड़ों से पता चलता है कि शेयर बाजारों में खुदरा भागीदारी बढ़ने के कारण पिछले तीन वर्षों में संग्रह में अच्छी वृद्धि देखी गई है। | ||
| 2022-01-17 | Expectations of Business from Budget 2022 | Considering the handsome Tax collections, Businesses are expecting below: 1. Extend sunset date for tax benefit for newly incorporated companies to 2025 from 2023 2. Tax MSMEs, LLPs on par with the corporates. 3. Reduce customs duty on raw material, to check input cost and inflation 4. Offer concessional tax rate to companies investing in green technology 5. Provide tax holiday for electric vehicle, data centres 6. Reduce tax compliances 7. Provide clarity on taxation of hybrid annuity models. | आकर्षक कर संग्रह को देखते हुए, व्यवसाय नीचे की उम्मीद कर रहे हैं: 1. नई निगमित कंपनियों के लिए कर लाभ की अंतिम तिथि 2023 से बढ़ाकर 2025 कर दी गई है 2. एमएसएमई, एलएलपी पर कर के बराबर कॉर्पोरेट। 3. इनपुट लागत और मुद्रास्फीति की जांच के लिए कच्चे माल पर सीमा शुल्क कम करें 4. हरित प्रौद्योगिकी में निवेश करने वाली कंपनियों को रियायती कर दर की पेशकश करें 5. इलेक्ट्रिक वाहन, डेटा केंद्रों के लिए कर अवकाश प्रदान करें 6. कर अनुपालन कम करें 7. हाइब्रिड वार्षिकी मॉडल के कराधान पर स्पष्टता प्रदान करें। | ||
| 2022-01-16 | Third phase of de-activation of IECs which are not yet updated is being initiated. | The IEC holders have the chance to update their IEC on the DGFT portal on or before 31st January, 2022 to prevent deactivation. All IECs which have not been updated after 01st July, 2020 shall be de-activated w.e.f. 01st February, 2022. | आईईसी धारकों के पास निष्क्रियता को रोकने के लिए 31 जनवरी, 2022 को या उससे पहले डीजीएफटी पोर्टल पर अपने आईईसी को अपडेट करने का मौका है। सभी आईईसी जिन्हें 01 जुलाई, 2020 के बाद अद्यतन नहीं किया गया है, उन्हें दिनांक 01.04.2020 से निष्क्रिय कर दिया जाएगा। 01 फरवरी, 2022। | ||
| 2022-01-16 | 5 Most Expected Tax Reliefs or Benefits from Budget 2022 | 1. Expansion of Sec 80C limit ELSS should have a separate limit of Rs 5 lakh over the current limit of Rs 1.5 lakh. More mutual fund categories choices should be offered to investors. 2. Increase 80D deduction for health insurance premium Under Section 80D, current deduction of Rs 50,000 should be raised to Rs 1 lakh. For senior citizens, the deduction limit of Rs 50,000 should be hiked to Rs 75,000. 3. Reduce GST on health insurance If the GST on health insurance premium is lowered from 18% to 5%, it will help people to opt for better health coverage during Covid times. 4. Increase Salary standard deduction With big pay cuts and unemployment, a substantial hike in standard deduction from Rs 50,000 to Rs 1 lakh will bring relief the working class. 5. Increase tax deduction on housing loan interest Housing loans getting bigger, existing exemption of Rs 3.5 lakh is not at all sufficient. It should be raised to Rs 5 lakhs. | 1. धारा 80सी की सीमा का विस्तार ईएलएसएस की मौजूदा सीमा 1.5 लाख रुपये से अधिक 5 लाख रुपये की अलग से सीमा होनी चाहिए। निवेशकों को अधिक म्यूचुअल फंड श्रेणियों के विकल्प की पेशकश की जानी चाहिए। 2. स्वास्थ्य बीमा प्रीमियम के लिए 80डी कटौती बढ़ाएं धारा 80डी के तहत 50,000 रुपये की मौजूदा कटौती को बढ़ाकर 1 लाख रुपये किया जाना चाहिए। वरिष्ठ नागरिकों के लिए 50,000 रुपये की कटौती की सीमा को बढ़ाकर 75,000 रुपये किया जाना चाहिए। 3. स्वास्थ्य बीमा पर जीएसटी कम करें यदि स्वास्थ्य बीमा प्रीमियम पर जीएसटी को 18% से घटाकर 5% कर दिया जाता है, तो यह लोगों को कोविड के समय में बेहतर स्वास्थ्य कवरेज का विकल्प चुनने में मदद करेगा। 4. वेतन वृद्धि मानक कटौती बड़े वेतन कटौती और बेरोजगारी के साथ, मानक कटौती को 50,000 रुपये से बढ़ाकर 1 लाख रुपये करने से मजदूर वर्ग को राहत मिलेगी। 5. हाउसिंग लोन के ब्याज पर टैक्स कटौती बढ़ाएं आवास ऋण बड़ा हो रहा है, 3.5 लाख रुपये की मौजूदा छूट बिल्कुल भी पर्याप्त नहीं है। इसे बढ़ाकर 5 लाख रुपये किया जाना चाहिए। | ||
| 2022-01-15 | Limitation extension order passed by Supreme Court due to Covid-19 is also applicable to GST refund applications: HC | Limitation extension order passed by Supreme Court due to Covid-19 is also applicable to GST refund applications: HC | कोविड -19 के कारण सुप्रीम कोर्ट द्वारा पारित सीमा विस्तार आदेश जीएसटी रिफंड आवेदनों पर भी लागू होता है: HC | ||
| 2022-01-14 | HC ask Income Tax department will they accept Audit Report and ITR in the physical form? | In the recent decision of HC in Southern Gujarat Income Tax Bar Association Vs Union of India (Gujarat High Court), The court said, Try to ascertain whether the department would be agreeable to accept the filing of the TAR / ITR in the physical form. We request the authority concerned to take a practical view of the problems which the assessees are facing as on date on account of the technical glitches in the portal. The authority should not overlook this fact and try to solve the problems or rather ease the difficulties which the assessees are facing. If the technical glitches are going to continue, then even extension of further three months would not solve the problems. | दक्षिणी गुजरात इनकम टैक्स बार एसोसिएशन बनाम यूनियन ऑफ इंडिया (गुजरात उच्च न्यायालय) में एचसी के हालिया फैसले में, अदालत ने कहा, यह पता लगाने की कोशिश करें कि क्या विभाग भौतिक रूप में टीएआर / आईटीआर दाखिल करने को स्वीकार करने के लिए सहमत होगा। हम संबंधित प्राधिकरण से अनुरोध करते हैं कि पोर्टल में तकनीकी गड़बड़ियों के कारण निर्धारितियों को आज की तारीख में जिन समस्याओं का सामना करना पड़ रहा है, उन पर व्यावहारिक दृष्टिकोण अपनाएं। प्राधिकरण को इस तथ्य की अनदेखी नहीं करनी चाहिए और समस्याओं को हल करने का प्रयास करना चाहिए या निर्धारिती के सामने आने वाली कठिनाइयों को कम करना चाहिए। अगर तकनीकी खराबी जारी रही तो तीन महीने और बढ़ा देने से भी समस्या का समाधान नहीं होगा। | FY 2021 | |
| 2022-01-13 | Income Tax Dept. issues Clarification on Form 10CCB. | In case a CA needs to file multiple forms for the same Assessment Year, taxpayers must assign the form to the same CA from “My CA” functionality again. The assignment can only happen when there are no forms which are active for action either by CA or taxpayer. In case the taxpayer needs to assign Form 10CCB to different CAs for the same Assessment Year, the taxpayer must assign the form to a different CA from “My CA” functionality again. The assignment can only happen when there are no forms which are active for action either by CA or taxpayer. | यदि एक सीए को एक ही निर्धारण वर्ष के लिए कई फॉर्म भरने की आवश्यकता होती है, तो करदाताओं को उसी सीए को फिर से "माई सीए" कार्यक्षमता से फॉर्म असाइन करना होगा। असाइनमेंट केवल तभी हो सकता है जब सीए या करदाता द्वारा कार्रवाई के लिए कोई फॉर्म सक्रिय न हो। यदि करदाता को एक ही निर्धारण वर्ष के लिए अलग-अलग सीए को फॉर्म 10CCB असाइन करने की आवश्यकता होती है, तो करदाता को फॉर्म को "माई सीए" कार्यक्षमता से अलग सीए को फिर से असाइन करना होगा। असाइनमेंट केवल तभी हो सकता है जब सीए या करदाता द्वारा कार्रवाई के लिए कोई फॉर्म सक्रिय न हो। | ||
| 2021-12-09 | Allahabad HC imposes Penalty on GST Dept for Harassment for Copy of Electricity Bill for GST Registration | The court ruled in favour of the petitioner and imposed a penalty of Rs. 15,000 on the GST department /-, which shall be deposited before the High Court State Legal Services Committee, Allahabad within a period of 20 days . | अदालत ने याचिकाकर्ता के पक्ष में फैसला सुनाते हुए रुपये का जुर्माना लगाया। जीएसटी विभाग पर 15,000/-, जो उच्च न्यायालय राज्य कानूनी सेवा समिति, इलाहाबाद के समक्ष 20 दिनों की अवधि के भीतर जमा किया जाएगा। | ||
| 2022-07-01 | MCA additional fees on form will be increased to 18 times | WEF July 1, 2022, additional fees on form will be increased to 18 times from existing 12 times of normal fees. However, these excludes Annual Filings which are charged at Rs. 100 per day without any upper limit. Also, this is merely filing fees. The additional 18 times of fees is applicable in case if there is a delay in filing of certain forms and not by default to all Companies. Relevant amendment of Amendment Act of 2017 and 2020 to be effective from July 1, 2022. | WEF 1 जुलाई, 2022, फॉर्म पर अतिरिक्त शुल्क सामान्य शुल्क के मौजूदा 12 गुना से बढ़ाकर 18 गुना कर दिया जाएगा। हालाँकि, इनमें वार्षिक फाइलिंग शामिल नहीं है, जिस पर रुपये का शुल्क लगाया जाता है। 100 प्रति दिन बिना किसी ऊपरी सीमा के। इसके अलावा, यह केवल फीस दाखिल कर रहा है। अतिरिक्त 18 गुना शुल्क उस स्थिति में लागू होता है जब कुछ फॉर्म भरने में देरी होती है और डिफ़ॉल्ट रूप से सभी कंपनियों के लिए नहीं। 2017 और 2020 के संशोधन अधिनियम के प्रासंगिक संशोधन 1 जुलाई, 2022 से प्रभावी होंगे। | ||
| 2022-01-10 | Period of limitation upto 28th Feb 2022 | SC agrees to extend the period of limitation upto 28th Feb 2022 for all proceedings | एससी सभी कार्यवाही के लिए सीमा की अवधि 28 फरवरी 2022 तक बढ़ाने के लिए सहमत है | ||
| 2022-01-11 | Extension of Due Dates of Audit and ITRs | ITR & Audit Dt. Extension for AY21-22 TAR-15/02/22 Transfer Pricing Audit-15/02/22 Audited ITR-15/03/22 TP Audit ITR-15/03/2022 Belated/Revised ITR-31/03/22-Cir 17 Subject to Interest u/s 234A if Self Assessment Tax is more than Rs. 1 lac | आईटीआर और ऑडिट डीटी। AY21-22 . के लिए विस्तार टीएआर-15/02/22 ट्रांसफर प्राइसिंग ऑडिट-15/02/22 ऑडिटेड आईटीआर-15/03/22 टीपी ऑडिट आईटीआर-15/03/2022 विलंबित/संशोधित ITR-31/03/22-Cir 17 धारा 234ए के तहत ब्याज के अधीन यदि स्व-निर्धारण कर रुपये से अधिक है। 1 लाख | FY 2021 | Circular 01/2022 dated 11.01.2022 |
| 2022-01-06 | Direct Tax Committee of ICAI has represented for Waiver of Penalty in Audit | Request to consider waiver of penalty for delay in furnishing of Report of Audit under any provision of the Income-tax Act, 1961 for the A. Y. 2021-22 | वर्ष 2021-22 के लिए आयकर अधिनियम, 1961 के किसी प्रावधान के तहत लेखा परीक्षा की रिपोर्ट प्रस्तुत करने में देरी के लिए दंड की छूट पर विचार करने का अनुरोध | FY 2020-21 | |
| 2022-01-08 | ICAI request to reinstate GST Audit | The Institute of Chartered Accountants of India Pre-Budget Memorandum, 2022 - GST. The amendment node in sections 35-5 and 44 of the CGST Act, 2017 vide the Finance Act, 2021 be withdrawn and requirement of getting annual accounts audited and reconciliation statement certified by a Chartered Accountant be reinstated in GST law. | इंस्टीट्यूट ऑफ चार्टर्ड अकाउंटेंट्स ऑफ इंडिया प्री-बजट मेमोरेंडम, 2022 - जीएसटी। वित्त अधिनियम, 2021 के तहत सीजीएसटी अधिनियम, 2017 की धारा 35-5 और 44 में संशोधन नोड को वापस ले लिया जाए और चार्टर्ड एकाउंटेंट द्वारा प्रमाणित वार्षिक खातों और सुलह विवरण की आवश्यकता को जीएसटी कानून में बहाल किया जाए। | ||
| 2022-01-08 | Upcoming functionality - Interest Calculator in GSTR-3B | As a facilitation measure for taxpayers and for assisting the taxpayers in doing a correct selfassessment, a new functionality of interest calculator is being released in GSTR3B. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers. The interest appliable, if any, on the tax liability declared in the GSTR3B of a particular tax-period will be computed after the filing of the said GSTR3B. | करदाताओं के लिए एक सुविधा उपाय के रूप में और सही स्व-मूल्यांकन करने में करदाताओं की सहायता के लिए, GSTR3B में ब्याज कैलकुलेटर की एक नई कार्यक्षमता जारी की जा रही है। यह कार्यक्षमता करदाताओं द्वारा घोषित कर देयता मूल्यों के आधार पर सिस्टम परिकलित ब्याज पर पहुंचेगी। किसी विशेष कर-अवधि के GSTR3B में घोषित कर देयता पर लागू ब्याज, यदि कोई हो, की गणना के बाद की जाएगी उक्त GSTR3B की फाइलिंग। | FY 2021-22 | |
| 2022-01-08 | Tax Bar Association Requests an extension of the Tax Audit and other audit-related Due dates | Tax Bar Association Jodhpur has requested Smt. Nirmala Sitharaman (Hon’ble Finance Minister) to extends the due dates for submitting of various Audit Reports & Income Tax Returns for Tax Audit cases under the Income Tax Act. | टैक्स बार एसोसिएशन जोधपुर ने श्रीमती से अनुरोध किया है। निर्मला सीतारमण (माननीय वित्त मंत्री) ने आयकर अधिनियम के तहत टैक्स ऑडिट मामलों के लिए विभिन्न ऑडिट रिपोर्ट और इनकम टैक्स रिटर्न जमा करने की नियत तारीखें बढ़ा दी हैं। | FY 2020-21 | |
| 2022-01-01 | Mandatory Aadhaar authentication for registered person | In the said rule, it is mandatory for the registered person to undergo Aadhaar authentication for the below purposes, 1. Filing of application for revocation of cancellation of registration in FORM GST REG-21 under Rule 23 of CGST Rules, 2017 2. Filing of refund application in FORM RFD-01 under Rule 89 of CGST Rules, 2017 3. Refund of the IGST paid on goods exported out of India under Rule 96 of CGST Rules, 2017. | उक्त नियम में, पंजीकृत व्यक्ति के लिए नीचे दिए गए उद्देश्यों के लिए आधार प्रमाणीकरण से गुजरना अनिवार्य है, 1. सीजीएसटी नियम, 2017 के नियम 23 के तहत फॉर्म जीएसटी आरईजी-21 में पंजीकरण रद्द करने के निरसन के लिए आवेदन दाखिल करना 2. सीजीएसटी नियम, 2017 के नियम 89 के तहत फॉर्म आरएफडी-01 में रिफंड आवेदन दाखिल करना 3. सीजीएसटी नियम, 2017 के नियम 96 के तहत भारत से बाहर निर्यात किए गए माल पर भुगतान किए गए आईजीएसटी की वापसी। | Notification No. 38/2021-CT dated 21.12.2021 has notified January 1, 2022 as the implementation date for Rule 10B of CGST Rules, 2017. | |
| 2021-12-31 | Extention of validity of FCRA registration certificates up to March 31, 2022 | Extension of the validity of FCRA registration certificates expiring between the period 29th September, 2020 and 31st March, 2022 of those entities who have applied for renewal on FCRA portal in accordance with rule 12 of the Foreign Contribution (Regulation) Rules, 2011 before expiry of the validity of their certificates of registration. | विदेशी अंशदान (विनियमन) नियम, 2011 के नियम 12 के अनुसार एफसीआरए पोर्टल पर नवीनीकरण के लिए आवेदन करने वाली संस्थाओं की अवधि 29 सितंबर, 2020 और 31 मार्च, 2022 के बीच समाप्त होने वाले एफसीआरए पंजीकरण प्रमाणपत्रों की वैधता का विस्तार उनके पंजीकरण प्रमाणपत्रों की वैधता। | No.II/21022/23(22)/2020-FCRA-III Government of India | |
| 2021-12-29 | Faceless Appeal Scheme, 2021 | CBDT notifies Faceless Appeal Scheme, 2021; in supersession of the earlier Faceless Appeal Scheme, 2020 - applicability date will be declared in official Gazette. | CBDT ने फेसलेस अपील योजना, 2021 को अधिसूचित किया; पूर्व फेसलेस अपील योजना, 2020 के अधिक्रमण में - लागू होने की तिथि आधिकारिक राजपत्र में घोषित की जाएगी। | ||
| 2021-12-28 | One-time relaxation for verification of all income tax-returns e-filed for the AY 2020-21 | One-time relaxation for verification of all income tax-returns e-filed for the Assessment Year 2020-21 which are pending for verification and processing of such returns - | के लिए ई-फाइल किए गए सभी आयकर-रिटर्न के सत्यापन के लिए एकमुश्त छूट आकलन वर्ष 2020-21 जो सत्यापन और प्रसंस्करण के लिए लंबित है ऐसे रिटर्न की - | AY 2020-21 | https://www.incometaxindia.gov.in/communications/circular/circular-no21-2021.pdf |
| 2022-03-31 | Filing of belated/revised return of income for the assessment year 2021-22 | The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December, 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, as extended to 31st January, 2022, vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st March, 2022; | निर्धारण वर्ष 2021-22 के लिए आय की विलम्बित/संशोधित विवरणी प्रस्तुत करने की नियत तिथि, जो अधिनियम की धारा 139 की उप-धारा (4)/उप-धारा (5) के तहत 31 दिसंबर, 2021 है, जैसा कि बढ़ाया गया है दिनांक 20.05.2021 के परिपत्र संख्या 9/2021 के द्वारा 31 जनवरी, 2022 को एतद्द्वारा 31 मार्च, 2022 तक बढ़ा दिया गया है; | AY 2021-22 | |
| 2022-01-01 | Section 162aa | Claim GST ITC only as per Form GSTR 2B | केवल फॉर्म GSTR 2B के अनुसार GST ITC का दावा करें | FY 2022 onwards | link1 |
