Draft Manual on Invoice Management System

Updated on: 17th September 2024

In a significant leap forward in the Goods and Services Tax (GST) ecosystem, the GST Common Portal has unveiled a ground breaking new facility, the Invoice Management System (IMS), revolutionizing the way recipient taxpayers interact with invoices. This innovative feature empowers taxpayers to seamlessly accept, reject, or keep invoices pending in the system to avail later as

Re-opening of Reporting ITC Reversal Opening Balance

Updated on: 17th September 2024

Vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 (read with circular 170/02/2022-GST, Dated 6th July,2022), the Government introduced certain changes in Table 4 of Form GSTR-3B regarding availment & reversal of ITC along-with reporting of re-claimed and ineligible ITC. Accordingly, the re-claimable ITC earlier reversed in Table 4(B)2 may be subsequently claimed in

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Bihar, Delhi, Karnataka and Punjab

Updated on: 6th September 2024

Dear Taxpayers,

This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.

Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5

Updated on: 3rd September 2024

Vide Notification No. 12/2024 – Central Tax dated 10th July, 2024, the Government has reduced the threshold limit for reporting of invoice wise details of inter-state taxable outward supplies made to unregistered dealers from 2.5 Lakh to 1 Lakh which needs to be

Invoice Management System

Updated on: 3rd September 2024

To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the Invoice Management System (IMS) is being brought up at portal.

Gross and Net GST revenue collections for the month of Aug, 2024

Updated on: 1st September 2024

Please click on the link below to view the gross and net GST revenue collections for the month of Aug, 2024.

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Dadra and Nagar Haveli and Daman and Diu AND Chandigarh

Updated on: 24th August 2024

This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.

Introduction of RCM Liability/ITC Statement

Updated on: 23rd August 2024

To assist taxpayers in correctly reporting Reverse Charge Mechanism (RCM) transactions, a new statement called “RCM Liability/ITC Statement” has been introduced on the GST Portal. This statement will enhance accuracy and transparency for RCM transactions by capturing the RCM liability shown in Table 3.1(d) of GSTR-3B and its corresponding ITC claimed in Table 4A(2) and 4A(3) of GSTR-3B for a return period. This statement will be applicable from

Advisory for furnishing bank account details before filing GSTR-1/IFF Notification No. 38/2023 – Central Tax New Delhi, the 4th August, 2023

Updated on: 23rd August 2024

As per Rule 10A of Central Goods and Services Tax Rules, 2017 notified vide notification no. 31/2019 dated 28.06.2019, a taxpayer is required to furnish details of a valid Bank Account within a period of 30 days from the date of grant of registration, or before furnishing the details of outward supplies of goods or services or both in FORM GSTR-1or using Invoice Furnishing Facility (IFF), whichever is earlier.

Advisory in respect of Changes in GSTR 8

Updated on: 2nd August 2024

Please refer to the GST Council decision to the effect that TCS rate has been reduced from the current 1% (0.5% CGST + 0.5% SGST/UTGST, or 1% IGST) to 0.5% (0.25% CGST + 0.25% SGST/UTGST, or 0.5% IGST) effective from 10/07/2024 vide Notification No. 15/2024 dated 10.07.2024.

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Jammu & Kashmir and West Bengal

Updated on: 2nd August 2024

Dear Taxpayers,

This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.

Gross and Net GST revenue collections for the month of July, 2024

Updated on: 1st August 2024

Please click on the link below to view the gross and net GST revenue collections for the month of July, 2024.

Detailed Manual and FAQs on filing of GSTR-1A

Updated on: 1st August 2024

As per the directions of the Government vide notification no. 12/2024 dt 10th July 2024, Form GSTR-1A has been made available to the taxpayers form July 2024’ tax period. GSTR-1A is an optional facility to add, amend or rectify any particulars of a supply reported/missed in the current Tax period’s GSTR-1 before filing of GSTR-3B return of the same tax period.

Gross and Net GST revenue collections for the month of June, 2024

Updated on: 28th July 2024

Please click on the link below to view the gross and net GST revenue collections for the month of June, 2024.

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Uttarakhand

Updated on: 28th July 2024

This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.

Advisory for FORM GSTR-1A

Updated on: 26th July 2024

The Government vide notification No. 12/2024 – Central Tax dated 10.07.2024, has introduced FORM GSTR-1A which is an optional Form/ facility. This has been provided to the taxpayers to add or amend particulars of a supply of the current tax period, which was missed out or was wrongly reported in FORM GSTR-1 of the..

Refund of tax paid on Inward supply of goods by Canteen Store Department (FORM GST RFD 10A)

Updated on: 22nd July 2024

In reference to Circular No. 227/21/2024-GST issued by GST policy wing, CBIC on 11th July, 2024 for online processing of refund applications filed by Canteen Stores Department (CSD), GSTN has developed an online functionality to enable CSDs to file an application for refund in FORM GST RFD-10A in GST common portal. Know more

Integrated Services from NIC-IRP e-invoice-1 and e-invoice-2 Portals

Updated on: 16th July 2024

GSTN wish to inform that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals. These portals run in parallel and now allow for seamlessly inter-operations. The highlights of the portal are as follows:

Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports

Updated on: 14th July 2024

1. GST Council has approved that application of refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports may also be processed by Tax Administration. Accordingly, Notification No. 12/2024-Central Tax dt. 10th July, 2024 has also been issued. GSTN is in the process of development of a separate category..

Increase in size of documents upload in Principal Place of Business and Additional Place of Business for New Registration and Amendment

Updated on: 9th July 2024

Dear Taxpayer,

GSTN is pleased to inform that changes have been made in size of document upload in Principal Place of Business and Additional Place of Business for New Registration and Amendment catering to the grievances received in the matter from trade.

Taxpayer can now upload following documents up to maximum size of 500 kb in the Principal Place of Business tab and Additional Places of Business tab as mentioned below:-

Enhancements to Address-Related Fields in GST Registration Functionalities

Updated on: 4th June 2024

Dear Taxpayers,

The Following enhancements have been made to address-related fields in the registration functionalities: New Registration, Amendment Application (Core & Non-Core), and Geocoding Business Addresses. These enhancements are based on the analysis of tickets and user feedback. The details are as follows:

Advisory on launch of E-Way Bill 2 Portal

Updated on: 28th May 2024

GSTN is pleased to inform that NIC is releasing the E-Way Bill 2 Portal (https://ewaybill2.gst.gov.in) on 1st June 2024. This portal ensures high availability and runs in parallel to the e-way Bill main portal (https://ewaybillgst.gov.in). The e-way bill 2 portal synchronises the e-way bill details with main portal within a few seconds. The highlights of the portal are as follows:

Information from manufacturers of Pan Masal and Tobacco taxpayers

Updated on: 16th May 2024

Government had issued a notification to seek information from taxpayers dealing in the goods mentioned therein vide Notification No. 04/2024 – Central Tax dated 05-01-2024……

Important Update: Enhancement in the GST Portal

Updated on: 26th April 2024

Dear Taxpayers,

1.  GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is to improve user experience and ensure that the information you need is accessible and easy to navigate.

2.  Key Enhancements Include (PDF with screenshots attached):

i.  News and Updates Section:….

Extension of Due date of GSTR-1 for the period March 24

Updated on: 13th April 2024

“In continuation of the advisory issued on 11.04.24 regarding the due date extension for Form GSTR 1, the Government has extended the due date of filing for March 2024 period to 12.04.24 for monthly taxpayers vide notification no. 09/24 – central tax dated 12.04.2024.”

Extension of GSTR-1 due date to 12th April 2024

Updated on: 11th 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.

Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1

Updated on: 9th April 2024

Dear Taxpayers,
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. 

Advisory on Reset and Re-filing of GSTR-3B of some taxpayers

Updated on: 9th April 2024

Dear Taxpayers,
This has reference to the facility for re-filing of GSTR-3B for some of the taxpayers. It was noticed that there were discrepancies in the returns of some taxpayers during the filing process between the saved data in the GST system and actually filed data in the fields of ITC availment and payment of tax liabilities.

Self Enablement For e-Invoicing

Updated on: 3rd April 2024

Dear Taxpayers,
If your turnover exceeds INR 5 crores in the financial year 2023-2024, you will be required to start e-Invoicing from the next financial year, i.e., from 1st April 2024 onwards.

Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables

Updated on: 12th March 2024

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. Please click here to view the complete advisory on the captioned subject.

Integration of E-Waybill system with New IRP Portals

Updated on: 8th March 2024

GSTN is pleased to announce the successful integration of E-Waybill services with four new IRP portals via NIC, enabling taxpayers to generate E-Waybills alongside E-Invoicing on these four IRPs.
This new facility complements the existing services available on the NIC-IRP portal, making E-Waybill services, along with E-Invoicing, available across all six IRPs.

Instances of Delay in registration reported by some Taxpayers despite successful Aadhar Authentication

Updated on: 28th February 2024

Instances of Delay in registration reported by some Taxpayers despite successful Aadhar Authentication in accordance with Rule 8 and 9 CGST, Rules, 2017-reg.
In accordance with Rule 9 of the Central Goods and Services Tax (CGST) Rules, 2017, pertaining to the verification and approval of registration applications, following is informed:

Enhanced E-Invoicing Initiatives & Launch of Enhanced https://einvoice.gst.gov.in portal

Updated on: 21st February 2024

GSTN on occasion of one year of the successful going live with the additional five new IRP portals, the e-invoice master information portal, and the e-invoice QR Code Verifier app, announces the launch of the revamped e-invoice master information portal https://einvoice.gst.gov.in . This enhancement is part of ongoing effort to further improve taxpayer services. New Features of the revamped E-Invoice Master Information Portal are as follows:

Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.

Updated on: 23rd January 2024

Mandatory Bank Account Details Submission as per law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to furnish details of their bank account/s within 30 days of the grant of registration or before the due date of filing GSTR-1/IFF, whichever is earlier…..

Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI)

Updated on: 19th January 2024

To facilitate the taxpayer registered under GST with more methods of payment, two new facilities of payment have now been provided under e-payment in addition to net-banking. The two new methods are Cards and Unified Payments Interface (UPI). Cards facility includes Credit Card (CC) and Debit Card (DC) namely Mastercard, Visa, RuPay, Diners(CC only) issued by any Indian bank.

Advisory on introduction of new Tables 14 & 15 in GSTR-1

Updated on: 15th January 2024

As per Notification No. 26/2022 – Central Tax dated 26th December 2022 two new tables Table 14 and Table 15 were added in GSTR-1 to capture the details of the supplies made through e-commerce operators (ECO) on which e-commerce operators are liable to collect tax under section 52 of the Act or liable to pay tax u/s 9(5). These tables have now been made live on the GST common portal. These two new tables will be available in GSTR-1/IFF from January-2024 tax periods onwards. Please click here for the complete advisory.

Advisory on the functionalities available on the portal for the GTA taxpayers:

Updated on: 1st January 2024

Dear Taxpayers,

The following Functionalities are made available on the portal for the GTA Taxpayers.

  1. Filing of Online Declaration in Annexure V and Annexure VI for the existing GTA Taxpayers: As per the Notification No. 06/2023-Central Tax (Rate), dated 26.07.2023, the option by GTA to pay GST on Forward Charge mechanism or the Reverse Charge mechanism respectively on the services supplied by them during a Financial Year shall be exercised by making a declaration in Annexure V

Advisory: Date extension for reporting opening balance for ITC reversal

Updated on: 1st January 2024

    • 1.  In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement was introduced on the GST portal. This statement was made available to help the taxpayers in tracking their ITC that has been reversed in Table 4B(2) and thereafter re-claimed in Table 4D(1) and 4A(5). Kindly…

 

Advisory: Two-factor Authentication for Taxpayers

Updated on: 1st December 2023

Dear Taxpayers,

    1.  GSTN is introducing two-factor authentication (2FA) for taxpayers to strengthen the login security in GST portal. The pilot rollout has been done for a state of Haryana and working seamlessly. Currently, 2FA will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in 1st phase. In 2nd phase, it is planned to be rolled out all states across India…

Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Andhra Pradesh

Updated on: 1st December 2023

Dear Taxpayers,

This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.

Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023

Updated on: 29th November 2023

1.   Amnesty for Taxpayers: The GST Council, in its 52nd meeting, recommended granting amnesty to taxpayers who could not file an appeal under section 107 of the CGST (Central Goods and Services Tax) Act, 2017, against the demand order under section 73 or 74 of the CGST Act, 2017, passed on or before March 31, 2023, or whose appeal against the said order was rejected due to not being filed within the specified time frame in sub-section (1) of section 107.

2.   In…

Comprehensive Guide and Instructions for Direct API Integration with Any of the 6 IRPs for E-Invoice Reporting

Updated on: 18th November 2023

You can access and download the above said documents by clicking on the link below:

Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C

Updated on: 15th November 2023

Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B

Dear Taxpayers,

1. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credit available in GSTR-2B statement & ITC claimed in GSTR-3B return online as directed by the GST Council. This feature is now live on the GST portal…

ITC Reversal on Account of Rule 37(A)

Updated on: 15th November 2023

Vide Rule 37A of CGST Rules, 2017 the taxpayers have to reverse the Input Tax Credit (ITC) availed on such invoice…

Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry

Updated on: 5th November 2023

This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.

Advisory related to changes in GSTR-5A

Updated on: 28th October 2023

Notification 51/2023 dated 29.09.2023 has introduced Table 5B in GSTR 5A w. e. f 01.10.2023. In this notification, Table 5B has been introduced to report supplies made to Registered GSTINs (B2B supplies). This would be implemented shortly at GSTN and till such time, OIDARs are advised to file the return in the existing GSTR 5A itself.

Advisory: Person supplying of Online Money Gaming services or OIDAR or Both– Form GST REG-10 and Form GSTR-5A

Updated on: 20th October 2023

In terms of the recent amendments made in the CGST/SGST Act, the IGST Act and the CGST/SGST Rules, any person located outside taxable territory making supply of online money gaming to a person in taxable territory, is liable to get registered in GST and is required to pay tax on such supply. In this context, every person located outside taxable territory making such supplies of online money gaming to a person in India is now mandated to take registration/amend his existing registration in accordance with the proposed Row (iia) in FORM GST REG-10 and also required to furnish information regarding the supplies in the proposed Tables in FORM GSTR-5A. GSTN is in the process of developing the functionality of such new registrations or required amendment in existing registration, as the case may be. In the meantime, till the said functionality is made available on the portal, a workaround is suggested to be followed as below:

Facility of enrolment for supply of goods through e-commerce operators by GST un-registered suppliers.

Updated on: 20th October 2023

In terms of the recent amendments to the Act and the rules and notification number 34/2023 dated 31.07.2023, persons supplying goods through e-commerce operators shall be exempt from mandatory registration under the CGST Act even if they supply goods through e-commerce operators (ECO) if they satisfy the following conditions:

Facility for the e- commerce operators through whom unregistered suppliers of goods can supply goods

Updated on: 20th October 2023

GSTN has also provided APIs for ECOs (through whom unregistered persons can supply goods) to integrate with GSTN to obtain the details and facilitate the unregistered suppliers. The APIs are for validating the demographic details of the said suppliers and also for use in tracking and reporting supplies by such persons. The details of the APIs are in below link:

Facility of enrolment for supply of goods through e-commerce operators by GST un-registered suppliers.

Updated on: 20th October 2023

“Facility of enrolment for supply of goods through e-commerce operators by GST un-registered suppliers” and the advisory note can be assessed through below link:

Person supplying of Online Money Gaming services or OIDAR or Both– Form GST REG-10 and Form GSTR-5A

Updated on: 20th October 2023

“Person supplying of Online Money Gaming services or OIDAR or Both– Form GST REG-10 and Form GSTR-5A” and the detailed advisory note can be assessed through below link:

The CESTAT has notified hearing on virtual mode

Updated on: 28th September 2023

The CESTAT on 21st September 2023 vide Notification No 2 of 2023 has notified hearing on virtual mode and the copy of the notification enclosed for your reference.

The ministry of finance has notified State level benches for Goods and Service Tax appellate tribunals

Updated on: 28th September 2023

The ministry of finance through Notification No. A-50050/150/2018-CESTAT-DoR dated 14th September 2023 has notified State level benches for Goods and Service Tax appellate tribunals and copy of notification has been enclosed for your easy reference.

Advisory: Geocoding Functionality for the Additional Place of Business

Updated on: 25th September 2023

The GSTIN on 19th September 2023 has issued an advisory note on enablement of Geocoding functionality for additional place of businesses. This facility has been already enabled in GST portal and the advisory note can be accessed through the link

e-Invoice Exemption Declaration Functionality Now Available

Updated on: 26th July 2023

The GSTN has issued an advisory note on the availability of a new functionality in the e-invoicing portal that allows taxpayers who are by default enabled for e-invoicing but are exempted from implementing it under the CGST (Central Goods and Services Tax) Rules to declare their exemption. The advisory note can be accessed through the link

Online facility introduced for adjudication of tax liability differences between Form GSTR-1 & Form GSTR-3B

Updated on: 30th June 2023

A new functionality has been introduced by the GSTN for issuance of intimation in Form GST DRC-01B in cases where the liability declared in Form GSTR-1 exceeds the liability discharged through Form GSTR-3B, by a pre-defined limit or the percentage of such difference exceeds a threshold as recommended by the GST Council. Taxpayers are required to respond to such intimation in Part B of Form GST DRC-01B within 7 days from the issuance of notice, either by (a) discharging such differential tax liability through Form GST DRC-03 or (b) provide a suitable explanation for such difference. In case the differential tax liability is not paid or the explanation or reasons provided by the taxpayer are not accepted by the Proper Officer, recovery proceedings can be initiated. Detailed manual containing step-by-step guidelines on how to navigate this functionality can be accessed here.

E-Invoicing facility enabled for taxpayers

Updated on: 18th June 2023

With effect from 01.08.2023, CBIC has lowered the threshold of Aggregate Annual Turnover (AATO) from 10 crores to 5 crores, for applicability of e-Invoicing for B2B transactions. To facilitate the same, GSTN has now enabled e-invoice reporting by eligible taxpayers on all the six IRPs. Taxpayers can check their status of enablement of e-Invoicing through this link. The enablement status indicated on the e-Invoice portal does not indicate a legal obligation on taxpayers to use e-Invoicing and the onus is placed on the taxpayers to check the applicability and compliance of the e-invoicing provisions. 

E-Invoice Verifier App launched by GSTN

Updated on: 15th June 2023

GSTN has launched a mobile application (“EInvoice QR Code Verifier” App) to facilitate the verification of accuracy and authenticity of the value / information embedded in the QR code in the e-invoices. The app operates on a non-login basis and is currently available on Google Play Store (iOS version to be available soon)

Guidelines issued for processing of GST registration applications

The CBIC has issued the following guidelines for verifying GST registration applications by the proper officers to address the issue relating to fake / bogus registrations

Updated on: 15th June 2023

(a) Based on data analytics and risk parameters, risk rating of high / medium / low will be assigned to each application by the system which the proper officer should consider to verify and process such application.
(b) Proper Officer to check whether the registration/s has been obtained on the same PAN earlier [either within the same State or other State(s)]. In such cases, the compliance record of the GSTINs will also be verified on the portal.
(c) In case the registration application is found to be deficient, or any further information / clarification is required by the officer for verification of such application, notice in Form GST REG-03 to be issued by the proper officer (within 7 days where the applicant has undergone Aadhar authentication and 30 days for other cases).
(d) The Applicant should submit the response / additional documents against the notice in Form GST REG-04 within 7 workings from the date of receipt of such notice.
(e) If no reply is furnished / reply is not satisfactory, the application may be rejected in Form GST REG-05 by giving his reasons in writing.
(f) Where GST registration is already granted on deemed approval basis or High-Risk rate is assigned in “DGARM Report Series 400” and physical verification is not conducted before grant of registration, the CPC officer should communicate the same to the jurisdictional Commissionerate to conduct physical verification of place of business within 15 days from the date of such registration. 

Mandatory e-invoicing for Businesses having Rs. 5 Crores turnover w.e.f August 01, 2023

Updated on: 3rd March 2023

As per the CBIC notification issued on 10th May 2023, turnover limit for E-invoice is reduced to Rs.5 crores from Rs. 10 Crore w.e.f. 01st Aug 2023.

Time limit for Reporting Invoices on the IRP Portal

Updated on: 3rd March 2023

  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. Please note that this restriction will only apply to the document type invoice, and there will be no time restriction on reporting debit/credit notes.
  4. For example, if an invoice has a date of April 1, 2023, it cannot be reported after April 8, 2023. The validation system built into the invoice registration portal will disallow the user from reporting the invoice after the 7-day window. Hence, it is essential for taxpayers to ensure that they report the invoice within the 7-day window provided by the new time limit.
  5. It is further to clarify that there will be no such reporting restriction on taxpayers with AATO less than 100 crores, as of now.
  6. In order to provide sufficient time for taxpayers to comply with this requirement, which may require changes to your systems, it is proposed to implement it from 01.05.2023 onwards.

Services provided by Courts / Tribunals liable to tax under RCM

Updated on: 3rd March 2023

Services provided by ‘Courts’ and ‘Tribunals’ will now be covered under the provisions of Reverse Charge Mechanism and the reference to Central / State Government in the RCM provisions would include a reference to ‘Courts’ and ‘Tribunals’. For instance, renting services in the nature of renting of premises to telecommunication companies for installation of towers, renting of chamber to lawyers etc.

Change in disclosure of Credit notes and introduction of negative value figures in Form GSTR-3B

Updated on: 27th Feburary 2023

For the returns filed upto December 2022 (return period), details of Credit Notes (CN) issued by vendors was being auto-populated separately in Table 4B(2) of the autopopulated Form GSTR-3B i.e. Other Reversals and taxpayers were advised to file the same accordingly. Now, as per the latest advisory, for the returns filed from January 2023 (return period), taxpayers are advised to declare the details of Credit Notes (CN) issued by vendors on a net basis itself in Table 4(A) i.e. ITC available of Form GSTR-3B, instead of declaring the ITC for the period in full in Table 4(A) and credit notes separately in Table 4(B)(2).
Based on the above changes, if the ITC available is lesser than the credit notes uploaded, value in Table 4(A) will be auto populated as a negative amount and such negative amounts can be entered in Table 4(A) i.e. ITC available of Form GSTR-3B. Hitherto, only positive amounts could be entered in such table.

New E-invoicing Portal

Updated on: 27th Feburary 2023

GSTN has launched a new user-friendly E-invoicing portal (www.einvoice.gst.gov.in) which is a reference site for master data, news, updates and latest releases. However, for registering e-invoices and generation of IRN, taxpayers should continue using the current portal i.e. . 3 new Invoice Reporting Portals (IRPs) for reporting e-invoices are in the works and are expected to be active shortly.

Option to pay tax under Forward Charge Mechanism enabled for GTA suppliers

Updated on: 27th Feburary 2023

Goods Transport Agencies (GTA) have an option to pay tax under forward charge by submitting ‘Annexure V’ on the GST portal every year before the commencement of a financial year. The cut-off date for exercising the said option is 15th March of the preceding financial year and once exercised the same cannot be withdrawn during the year. For FY 2023-24, facility of submission of ‘Annexure V’ has been enabled on the portal for GTA’s to exercise their option by 15th March, 2023 by navigating to: Services > User Services > Opting Forward Charge Payment by GTA (Annexure V) on the GST portal.

Geocoding of address of principal place of business introduced

Updated on: 27th Feburary 2023

The CBIC has introduced the functionality for geocoding the principal place of business address (i.e. the process of converting an address or description of a location into geographic coordinates) on the GST Portal. This feature is introduced to ensure the accuracy of address furnished in the GSTN records and streamline the address location and verification process. Currently, this functionality is being made available for taxpayers registered in Delhi and Haryana only and can be accessed under Services>>Registration>>Geocoding Principal Place of Business after logging in to the GSTN portal.

The CBIC has issued notification to provide that services provided by Courts and Tribunals shall be covered under RCM and provisions of RCM notification shall apply to Courts and Tribunals as they apply to the Central Government and State Governments. This notification shall come into force with effect from 1st March, 2023

10th Feburary 2023

Updated on:

The 49th meeting of the GST Council was held on 18th February 2023 at Vigyan Bhawan, New Delhi under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council recommended several amendments and Amnesty for delayed filings, measures to facilitate trade, compensation dues to be cleared etc. Please find the attached file for the detailed press release issued by the Council.

Updated on: 10th Feburary 2023

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

Updated on: 27th December 2022

Clarification on applicability of e-invoicing w.r.t an entity

Updated on: 27th December 2022

Prescribing manner of filing an application for refund by unregistered persons

Updated on: 27th December 2022

Provisions of Finance Act, 2022 related to GST which shall be effective from October 1st, 2022

Updated on: 29th September 2022

The CBIC has notified the provisions of Finance Act, 2022 related to GST which shall be effective from October 1st, 2022. The key changes include extension in time limit of availment of ITC till 30th November of next financial year, amendment to GSTR 1 return till 30th November of next financial year, credit notes can be issued till 30th November of next financial year, Form GSTR-2 has been done away with, extension in time-limit to rectify errors or omission in Form GSTR -1 or GSTR-3B, omission of sections 42, 43 and 43A etc.

CBIC issues guidelines for filing / revising TRAN-1 / TRAN-2

Updated on: 9th September 2022

As per the directions of Hon‘ble Supreme Court, the facility for filingTRAN-1/ TRAN-2 or revising the earlier filed TRAN-1/TRAN-2 on the common portal by an aggrieved registered assessee will be made available by GSTN during the period from 01.10.2022 to 30.11.2022. In order to ensure uniformity in implementation of the directions of Hon‘ble Supreme Court, the CBIC has issued guidelines for the applicants for filing TRAN-1/TRAN-2 or revising earlier filed TRAN-1/TRAN-2.

Mandatory e-invoicing for Businesses having Rs. 10 Crores turnover w.e.f October 01, 2022

Updated on: 1st August 2022

The CBIC issued Notification No. 17/2022–Central Tax dated August 01, 2022 to amend Notification No. 13/2020 – Central Tax, dated March 21, 2020 to decrease the e-Invoicing aggregate turnover limit from 20 crore to 10 crore w.e.f. October 01, 2022. Hence, w.e.f. 01-10-2022 onwards Einvoice is applicable if aggregate turnover of taxpayer is exceeding Rs.10 crores in any one of the years from FY 2017-18 onwards.

The major Recommendations by GST Council in their 47th Meeting held on 28th and 29th June 2022

Updated on: 1st July 2022

Increase in Tax Rates

  1. GST Rate on LED lamps, lights and fixtures proposed to be increased to 18% from 12%
  2. GST Rate on Works Contract for construction of Road, Bridges etc proposed to be increased to 18% from 12%
  3. GST Rate on Sale of E Waste proposed to be increased from 5% to 18%

Withdrawal of Exemption

  1. Renting of residential dwelling to business entities
  2. Hotel Accommodation priced at less than Rs 1000 to be taxed at 12%
  3. Training or Coaching in Recreation Activity relating to Arts, Culture and Sports – To be exempt if provided by an Individual
  4. Room rent (excluding ICU) exceeding Rs5000 per day per patient charged by a hospital shall be taxed to the extent of amount charged for the room at 5% without ITC.

Clarifications

  1. Electric Vehicle with or without battery to attract GST at the rate of 5%
  2. Ice Cream Parlours paying GST at 5% during July 1, 2017 to October 5, 2021 – To be regularized to avoid litigation
  3. Preferential Location Charges charged alongwith the lease rentals for land – To be treated as composite supply of lease rentals for land
  4. Honorarium paid to Guest Actors on TV Channels to be liable to GST
  5. Higher Toll for vehicles without FasTAG not to be treated as service but toll charges only
  6. Sale of Land after levelling, laying down of drainage pipe etc to be treated as sale of land and hence not liable to GST
  7. Services in form of Assisted Reproductive Technology (ART) /In vitro fertilization (IVF) are covered under the definition of health care services for the purpose of exemption under GST

Other Changes

  1. Proposal for comprehensive changes in FORM GSTR-3B to be placed in public domain for seeking inputs/suggestions of the stakeholders.
  2. Waiver from compulsory registration for supplies made through E Commerce Operators subject to certain conditions
  3. Tax Payers under Composition Scheme to be allowed to make intra state supplies through E Commerce Operators
  4. Amendment to the formula prescribed for computation of refund under inverted duty structure
  5. Waiver of late fee for delay in filing FORM GSTR-4 for FY2021-22 and extension of due date for filing FORM GST CMP-08 for Q1 of FY2022-23:
  6. Present exemption of IGST on import of goods under AA/EPCG/EOU scheme to be continued and E-wallet scheme not to be pursued further.
  7. Exemption from filing annual return in FORM GSTR-9/9A for FY2021-22 to be provided to taxpayers having AATO upto Rs.2crores
  8. Explanation 1 after rule 43 of CGST Rules to be amended to provide that there is no requirement of reversal of input tax credit for exempted supply of Duty Credit Scrips by  the exporters.
  9. All taxable service of Department of Posts would be subject to forward charge. Hitherto certain taxable services of Department of post were taxed on reverse charge basis
  10. Goods transport agency (GTA) is being given option to pay GST at 5% or 12% under forward charge; option to be exercised at  the beginning of Financial Year. RCM option to continue

Payment for taxpayers under QRMP scheme for the month of April 2022 has been extended from 25th May 2022 to 27th May 2022

Updated on: 17th May 2022

GSTR 3B for the month of April 2022 has been extended from 20th May 2022 to 24th May 2022 for all states. This is due to technical glitches in the auto populated 2B data and auto populated 3B return.

Updated on: 17th May 2022

CBIC reduces threshold limit in the applicability of GST E-invoicing from Rs.50crores to Rs. 20 Crores with effect from 1st April 2022.

Updated on: 07th March 2022

GST Updates

Updated on: 21st December 2021

Input Tax Credit is available to the buyer only if the supplier file their return w.e.f. 01-01-2022 onwards.  Notification number and reference document

As per the Central Tax notification number 39/2021, the new condition in clause (aa) of Section 16(2) of the CGST Act is implemented giving effect to Section 109 from the Finance Act, 2021 effective from 1st Jan 2022.

While Section 16(2) of the CGST Act had conditions for recipients to fulfil before claiming Input Tax Credit (ITC) in their GSTR-3B, the GST Council suggested an amendment to Rule 36(4) during the 45th meeting in September 2021 and notified during December 2021 through the Central Tax notification no. 39 & 40/2021. As per this notification, additional condition got added to claim Input Tax Credit (ITC) in GSTR-3B. Now, registered person shall be entitled to take the credit of any input tax only if the supplier furnish the details of invoice/Debit note in GSTR-1 and the relevant invoice is populating in GSTR-2B of registered person.

39 / 2021 Central Tax dated 21st Dec 2021

40/2021 Central Tax dated 29th Dec 2021

Exempts / reduces GST rate on Covid related drugs for the period upto 31st Dec 2021

Updated on: 14th October 2021

Notification issued to bring supply of some essential oils under the ambit of reverse charge mehcanism. Amendment to original notification 04/2017

Updated on: 14th October 2021

Notification issued to amend GST exemption on Seeds, fruits and spores covered under chapter heading 1209. Amendment to original notification notification 02/2017

Updated on: 14th October 2021

Notification issued to amend GST rates on some goods mentioned in the notification. Amendment to original notification 01/2017 and 39/2017

Updated on: 14th October 2021

Notification issued to amend GST rates on some goods mentioned in the notification. Amendment to original notification 01/2017 and 39/2017

Updated on: 14th October 2021

Notification issued to amend exemption list of some services mentioned in the notification.-Amendment to original notification number 12/2017.

Updated on: 14th October 2021

Notification issued to amend GST rates of some services mentioned in the notification. Amendment to original notification number 11/2017.

Updated on: 14th October 2021

The GST Council’s 45th meeting has made the following recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure.

Updated on: 22nd September 2021

  1. Recommendations relating to GST law and procedure
    1. Requirement of filing FORM GST ITC-04 under rule 45 (3) of the CGST Rules has been relaxed as under:
      • Taxpayers whose annual aggregate turnover in preceding financial year is above Rs. 5 crores shall furnish ITC-04 once in six months;
      • Taxpayers whose annual aggregate turnover in preceding financial year is upto Rs. 5 crores shall furnish ITC-04 annually.
    2. There was no clarity on whether to pay interest for ineligible credit at the time of availment or after both availment and utilization for payment of tax.  Council decided that interest in such cases should be charged on ineligible ITC availed and utilized at 18% w.e.f. 01.07.2017.
    3. Unutilized balance in CGST and IGST cash ledger may be allowed to be transferred between distinct persons (entities having same PAN but registered in different states), without going through the refund procedure, subject to certain safeguards
    4. Issuance of the following circulars in order to remove ambiguity and legal disputes on various issues, thus benefiting taxpayers at large  (Circulars awaited)
      • Clarification on scope of “intermediary services”
      • Clarification relating to interpretation of the term “merely establishment of distinct person” in condition (v) of the Section 2 (6) of the IGST Act 2017 for export of services.  This was applicable for transaction between Head office and foreign branch of Head office.
      • W.e.f. 01.01.2021, the date of issuance of debit note (and not the date of underlying invoice) shall determine the relevant financial year for the purpose of section 16(4) of CGST Act, 2017;.  As per section 16(4), there is a time limit upto September or filing of annual return whichever is earlier to avail the Input Tax Credit for a FY.  Now, it is clarified that date of Debit Note to be considered for time limit.
      • There is no need to carry the physical copy of tax invoice in cases where invoice has been generated by the supplier in the manner prescribed under rule 48(4) of the CGST Rules, 2017 i.e. under e-invoicing provisions.
  2. Measures for streamlining compliances in GST:
    • Aadhaar authentication of registration to be made mandatory for being eligible for filing refund claim and application for revocation of cancellation of registration
    • Late fee for delayed filing of FORM GSTR-1 to be auto-populated and collected in next open return in FORM GSTR-3B.
    • Refund to be disbursed in the bank account, which is linked with same PAN on which registration has been obtained under GST.
    • Rule 59(6) of the CGST Rules to be amended with effect from 01.01.2022 to provide that a registered person shall not be allowed to furnish FORM GSTR-1, if he has not furnished the return in FORM GSTR-3B for the preceding month.
    • Rule 36(4) (Limit of additional credit on unmatched credit upto 5%) of CGST Rules, 2017 to be amended, once the proposed clause (aa) of section 16(2) of CGST Act, 2017 is notified, to restrict availment of ITC in respect of invoices/ debit notes, to the extent the details of such invoices/ debit notes are furnished by the supplier in FORM GSTR-1/ IFF and are communicated to the registered person in FORM GSTR-2B.  As per clause (aa) of section 16(2) of CGST Act, 2017, condition to avail ITC is supplier files GSTR 1 return and available to the receiver in his 2B.  Hence, after implementation of this provision, it looks like the intention of the government is to remove additional 5% provided under rule 36(4) of CGST Rules.
    • GST Council has also recommended amendments in certain provisions of the Act and Rules which will be notified soon.
  3. Changes pertaining to rate of Goods:
    • COVID-19 relief measure in form of GST rate concessions:  Extension / further reduction of concessional GST rates on certain drugs for Covid 19 treatment.  This is applicable upto 31st Dec 2021.
    • Reduced / Increased rates on some goods like Retro fitment kits for vehicles used by the disabled, Fortified Rice Kernels etc.
    • Supply of mentha oil from unregistered person has been brought under reverse charge.
    • Brick kilns would be brought under special composition scheme with threshold limit of Rs. 20 lakhs, with effect from 1.4.2022. Bricks would attract GST at the rate of 6% without ITC under the scheme. GST rate of 12% with ITC would otherwise apply to bricks.
    • Correction in Inverted Duty structure in Footwear and Textiles sector
    • In terms of the recent directions of the Hon’ble High Court of Kerala, the issue of whether specified petroleum products should be brought within the ambit of GST was placed for consideration before the Council. After due deliberation, the Council was of the view that it is not appropriate to do so at this stage.
  4. Changes pertaining to rate of Service:
    • Validity of GST exemption on transport of goods by vessel and air from India to outside India is extended upto 30.9.2022.
    • Exempted Services by way of grant of National Permit to goods carriages on payment of fee
    • Exempts Skill Training for which Government bears 75% or more of the expenditure [ presently exemption applies only if Govt funds 100%].
    • Licensing services/ the right to broadcast and show original films, sound recordings, Radio and Television programmes [ to bring parity between distribution and licencing services].  Rate increased from 12% to 18%.
    • Printing and reproduction services of recorded media where content is supplied by the publisher (to bring it on parity with Colour printing of images from film or digital media). Rate increased from 12% to 18%.
    • E Commerce Operators are being made liable to pay tax on following services provided through them
      • transport of passengers, by any type of motor vehicles through it [w.e.f. 1st January, 2022]
      • restaurant services provided through it with some exceptions [w.e.f. 1st January, 2022]
  5. Certain clarifications provided in relation to rate on Goods to remove the ambiguity in the law.  Please refer attached press release for list of such clarifications provided.
  6. Certain clarifications provided in relation to rate on Service to remove the ambiguity in the law.   Please refer attached press release for list of such clarifications provided.
  7. The Council decided to set up a GoM to examine the issue of correction of inverted duty structure for major sectors; rationalize the rates and review exemptions from the point of view of revenue augmentation, from GST. It was also decided to set up a GoM to discuss ways and means of using technology to further improve compliance including monitoring through improved e-way bill systems, e-invoices, FASTag data and strengthening the institutional mechanism for sharing of intelligence and coordinated enforcement actions by the Centre and the States.

HIGHLIGHTS OF FINANCE ACT, 2024

Updated on: 17th February 2024

The contents here are for information purposes only, to enable public to have a quick and an easy access to information, and do not purport to be legal documents. Viewers are advised to verify the content from original Finance Act, 2024

HIGHLIGHTS OF FINANCE BILL, 2024

Updated on: 2nd February 2024

The contents here are for information purposes only, to enable public to have a quick and an easy access to information, and do not purport to be legal documents. Viewers are advised to verify the content from original Finance Bill, 2024 (Visit https://incometaxindia.gov.in/Pages/budget-and-bills/finance-bill.aspx for Finance Bill, 2024)

ICAI RELEASED REVISED GUIDANCE NOTE ON TAX AUDIT UNDER SECTION 44AB OF INCOME TAX ACT 1961

Updated on: 4th September 2023

The Institute of Chartered Accountants of India (ICAI) has released a revised Guidance Note on Tax Audit under Section 44AB of Income Tax Act 1961.

In an ever-evolving landscape of taxation, where accuracy, compliance, and transparency are paramount, this Guidance Note stands as a beacon of knowledge and insight for all Chartered Accountants engaged in the intricate world of tax audit.

Tax audit, an essential tool in ensuring adherence to tax laws and regulations, demands a profound understanding of intricate legal framework, attention to detail and commitment towards ethical practice. To enable our members to perform tax audits efficiently, the Direct Taxes Committee of the Institute of Chartered Accountants of India (ICAI) has taken an initiative of updating the ‘Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961’. This Guidance Note provides a comprehensive roadmap to navigate the complexities of tax audit in a strategic and informed manner and also delves into the intricacies of audit procedures.

As the regulatory environment evolves, it is imperative for our members to stay updated and compliant with the ever-changing tax requirements. This Guidance Note not only delves into the core concepts of tax audit but also provides practical insights that will aid taxpayers in ensuring adherence to the statutory norms.

Section 44AB has been introduced in the Income-tax Act, 1961, by the Finance Act, 1984. This section provides for audit of accounts of assessees having total sales, turnover or gross receipts exceeding the specified limits of Rs.40 lakhs for business and Rs.10 lakhs for profession. New Rule 6G, inserted in the Income-tax Rules, prescribes the Forms of Audit report for the above purpose. The requirements for the above audit will apply to accounts relating to previous year relevant to assessment year 1985-86 and subsequent years.

Audit of accounts in the corporate sector has been made compulsory by legislation over a period of years. Realising the importance of audit, in recent years, this requirement is being extended to non-corporate sector also.

Certain appeals to be outside the purview of e-Appeals scheme, 2023

Updated on: 3rd July 2023

The CBDT notified the e-Appeals scheme, 2023 for the expeditious disposal of appeal proceedings in a faceless manner. The CBDT has now notified certain appeals that will be disposed outside the purview of the e-Appeals scheme. Some of these appeals excluded are those appeals against assessment orders which were passed before 13.08.2020 under sub-section 143(3) or 144 of the Act and having disputed demand more than Rs. 10 lakhs; ii. appeals pertaining to international transaction etc. A complete list of appeals excluded from the e-Appeals scheme has also been provided. 

Clarification on TCS rates applicable on remittance under Liberalised Remittance Scheme (‘LRS’) and purchase of overseas tour package

Updated on: 3rd July 2023

The Finance Act, 2023 brought in certain amendments to the TCS provisions on LRS remittances and purchase of overseas tour packages intended to be effective from 01.07.2023. However, considering the practical difficulties faced by the stakeholders, certain relaxations were provided on the said amendments including restoration of the threshold of Rs. 7 lakhs on the TCS applicability and application of higher rates of 20% from 01.10.2023 as against 01.07.2023 proposed by the Finance Act, 2023.

Amendment of rules pertaining to registration, approval and activities of trusts, funds and institutions

Updated on: 3rd July 2023

The CBDT brought in amendments to provisions relating to registration and approvals for charitable trusts and other institutions under section 10(23C) and introduced new Forms 10A (applicable for applications seeking provisional registration / approval) and 10AB (applicable for applications seeking registration/approvals). In this regard, the relevant rules 2C, 11AA and 17A have been amended to provide for the amended provisions of the section 10(23C).

Extension of due dates for filing forms 26Q, 27Q and 27EQ for the first quarter of FY 2023-24

Updated on: 3rd July 2023

Forms 26Q, 27Q and 27EQ for the first quarter of FY 2023-24 were due to be filed on or before 31.07.2023. The CBDT has now provided that these forms can be filed on or before 30.09.2023. 

Tolerance limits for variance between Arm’s length price determined as per the provisions of the Act and the value of international transaction for AY 2023-24

Updated on: 3rd July 2023

The CBDT has notified that for AY 2023-24, where the variation between Arm’s length price and international transaction does not exceed: i. 1% of the value of international transaction in respect of wholesale trading; and ii. 3% of the value of international transaction in respect of other cases then such transactions shall be deemed to be at arm’s length price. Such tolerance benefits are available only in cases where the ALP is determined by either of Profit split method or Other methods. 

Amendments to Income-tax rules, 1961 and introduction of Form 10IEA

Updated on: 3rd July 2023

The Finance Act, 2020 introduced as an option, a new taxation regime which taxed incomes of individuals and HUFs at a lower tax rate after restricting certain exemptions and deductions while computing the total income. The Finance Act 2023 further extended this tax regime to Association of Persons, Body of Individuals and other artificial juridical persons and has made such tax regimes as the ‘default’ tax regime with effect from AY 2024-25. The CBDT has now amended the relevant rules and introduced Form 10IEA to give effect to the amendments brought in by the Finance Act 2023. 

Notification of ITR Forms 1-7 for the AY 2023-24 by the CBDT

Updated on: 22nd Feburary 2023

The CBDT has notified ITR Forms 1-7 applicable for AY 2023-24. This would enable the taxpayers to collate the necessary information required for filing the return of income well in advance.

Centralized Processing of Equalisation Levy Statement Scheme, 2023

Updated on: 22nd Feburary 2023

Finance Act, 2016 introduced the Equalisation Levy (‘EL’) to be collected by taxpayers entering into certain transactions. These transactions are required to be reported to the income-tax department by filing an annual statement. The Finance Act, 2016 authorized the CBDT to formulate a scheme for processing the EL statements filed. The CBDT has now exercised such powers and formulated a scheme for processing such statements.

Amendment of Rules 16CC and 17B and forms 10B and 10BB

Updated on: 22nd Feburary 2023

A trust or institution or other taxpayers involved in charitable activities or educational activities and claiming income-tax exemptions under section 10(23C) or 12A is required to get its accounts audited and furnish such report in form 10B and 10BB.

Easing of Income Tax Compliance.

(Time limit for following compliances extended by 15days to two months or more)

Updated on: 11th January 2022

Compliance Extension
Due date for filing of tax audit report in form 3CA/ 3CB & 3CD for the assessment year 2021-22 15-Feb-22
Due date for filing of accountant’s report on international/ specified domestic transactions in form 3CEB under Section 92E for the assessment year 2021-22 15-Feb-22

Due date for filing return of income for the assessment year 2021-22 if the Assessee (Other than Transfer pricing audit u/s.92E) is a

  1. corporate-Assessee or
  2. non-corporate Assessee (whosebooks of account are required to be audited) or
  3. partner of a fi rm whose accounts are required tobe audited or the spouse of such partner if the provisions of secti on 5A applies
15-Mar-22

Due date for filing return of income for the assessment year 2021-22 if the Assessee (subject to Transfer pricing audit u/s.92E) is a

  1. corporate-Assessee or
  2. non-corporate Assessee (whosebooks of account are required to be audited) or
  3. partner of a fi rm whose accounts are required tobe audited or the spouse of such partner if the provisions of secti on 5A applies
15-Mar-22

Easing of Income Tax Compliance.

(Time limit for following compliances extended by 15days to two months or more)

Updated on: 22nd September 2021

Compliance Extension
Extension of time limit to link PAN and Aadhar under Section 139AA 31-Mar-22

Easing of Income Tax Compliance.

(Time limit for following compliances extended by 15days to two months or more)

Updated on: 09 September 2021

Compliance Extension

Due date for filing return of income for the assessment year 2021-22 for all Assessee other than

  1. corporate-Assessee or
  2. non-corporate Assessee (whose books of account are required to be audited) or
  3. partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies or
  4. an Assessee who is required to furnish a report under section 92E.
31-Dec-21
Due date for filing tax audit report for the assessment year 2021-22 in the case of assessees/ partnership firms who are subjected to audit under the Income Tax Act. 15-Jan-22
Due date for filing audit report for the assessment year 2021-22 in the case of assessees who have entered into international/ specified domestic transcation under the Income Tax Act. 31-Jan-22
Due date for filing return of income for the assessment year 2021-22 in the case of assessees/ partners of partnership firms who are subjected to audit under the Income Tax Act 15-Feb-22
Due date for filing return of income for the assessment year 2021-22 in the case of assessees who have entered into international/ specified domestic transction under the Income Tax Act. 28-Feb-22
Due date for filing revised/ belated return of income for the Assessment Year 2021-22 under the Income Tax Act. 31-Mar-22

Easing of Income Tax Compliance.

(Time limit for following compliances extended by 15days to two months or more)

Updated on: 25th June 2021

Compliance Extension
Filing TDS Statements From June 30 to July 15
Issuing tax deduction certificate From July 15 to July 31
Filing foreign remittance statement From July 15 to July 31
Submission of registration of trusts and institutions From June 30 to August 31
Submitting form for equalisation levy From June 30 to July 31
Uploading of form of no TDS claims cases From July 15 to August 31
Submitting objection to dispute resolution panel From June 1 onwards to August 31
Submitting option to withdraw cases from settlement commission From June 27 to July 31

Relief to Income Tax Payers

Updated on: 25th June 2021

  • Time to invest in Residential House for tax deduction extension for more than 3months.Investment required to be made on or after 1st April can be made upto 30th September
  • PAN Aadhar Linking extension of 3months from 30th June to 30th September
  • Vivad se Vishwas Payment without interest- extension by 2months (30th June to 30th August)
  • Closing the scheme with interest in the next 2months by 31st October
  • Time for making assessments and pass penalty offer – extension for 3 months 30th June to 30th september

Income Tax Concession for Payments towards Covid Treatment or Death

Updated on: 25th June 2021

Amount paid for medical treatment to an employee by employer or to any person by any other person on account of treatment of Covid for FY 19-20 and subsequent year would not be taxed in the hands employee or the person receiving the benefit.

Ex-gratia payment by an employer to an employee’s family, or by any other person to any person’s family on death of the employee or any other person on account of Covid for FY19-20 or subsequent year would be exempt from tax, restricted to 10lakhs

IT department releases new utility file to check vendor compliance

Updated on: 25th June 2021

IT department has released a new utility file to check for the vendor compliance details which are required to meet new Income Tax TDS provisions w.e.f. 1st July 2021.