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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.

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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.

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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.

Facts: The petitioner filed a GSTR 1 return for the assessment period 2017-18, inadvertently duplicating invoice details. Despite providing explanations and obtaining certificates from purchasers affirming non-availment of excess ITC due to duplicate invoices, the tax liability was imposed on the petitioner. The tax authority rejected the petitioners explanation solely based on failure to rectify the GSTR 1 statement within prescribed time limits, without considering the evidence provided.
Decision: The court set aside the tax authoritys order, emphasizing the need to reconsider the matter based on evidence submitted by the petitioner, including purchaser certificates. Despite the failure to rectify the GSTR 1 statement within the prescribed time, the court found the tax authoritys rejection of the petitioners explanation unjustified, terming it an after-thought without proper consideration. Remanding the case for reconsideration, the court directed the tax authority to provide the petitioner with a fair opportunity.

Facts: Tata Capital Ltd. filed its Return of Income for the AY 2008-09, declaring NIL income, while claiming dividend income and income from LTCGs as exempt under sections 10(34) and 10(38) of the IT Act, respectively. The AO disallowed the companys expenditure on interest expenses under section 14A without explicitly stating reasons for rejecting the companys explanation regarding the expenditure related to exempt income. The Commissioner (Appeals) and the ITAT concurred that the AO failed to provide valid reasons for dissatisfaction with the companys claim, leading to the deletion of the disallowance.
Decision: The HC affirmed the decisions of the lower authorities, emphasizing the AOs failure to record valid reasons for dissatisfaction with the companys claim regarding expenditure related to exempt income. It reiterated the requirement for the AO to explicitly state dissatisfaction with the correctness of the claim and provide cogent reasons for such dissatisfaction, as mandated by Section 14A(2) and Rule 8D.