GST Notice Deadlines: Last Chance for FY 2021-22 and FY 2019-20 September 30, 2025, is the last day for issuing notices under Section 73 for FY 2021-22 and Section 74 for FY 2019-20. Here’s what you need to know :- Section 73 Notice: Applies to FY 2021-22, this section deals with demands for tax not […]
Business will adopt new rates over time, but will absorb the excess costs in meantime: CBIC Chairman Sanjay Kumar Agarwal
Businesses will adopt to newer rates over a period of time, even as they will have excess credit (of input tax) or lower, for some period, said Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC) on Thursday. In an interview to Moneycontrol, Agarwal noted that it’s a transition period, under which […]
Advisory –System Enhancement for Order-Based Refunds
The GSTN issued an Advisory No. 621 dated August 28, 2025 on System Enhancement for Order-Based Refunds. As per the available functionality, taxpayers could claim refunds under the category “On account of Assessment/Enforcement/Appeal/Revision/Any Other Order” (ASSORD) only if: This restriction prevented taxpayers from claiming refunds when individual components (minor heads) of a demand showed negative balances and […]
GST- Latest Updates (Notifications & Circulars)
for Latest GST Notifications & Circulars click on the link https://taxinformation.cbic.gov.in
Guidance Note on Audit of Banks (2025 Edition)
The Auditing and Assurance Standards Board (AASB) of ICAI under the authority of the Council of ICAI brings out the revised edition of “Guidance Note on Audit of Banks” every year to provide detailed guidance to auditors on statutory audit of banks and bank branches. AASB is releasing the Guidance Note on Audit of Banks […]
Income Tax Department has started issuing notices under Section 148A(1) in respect of political contribution claimed under Section 80GGC for AY 2021-22
Form 3CD of Tax Audit Report amendments in Part B Notification No. 23/2025
CBDT, vide dated 28.3.2025, has made of Form 3CD of Tax Audit w.e.f. 1.4.2025 prescribed u/s 44AB of the Income Tax Act, 1961.The amendments has been made in the following clauses: Kindly note the amendments and take care in Tax audited to be carried out w.e.f 01.04.2025. https://acrobat.adobe.com/id/urn:aaid:sc:AP:161866de-5906-494f-8804-9b21db521edd
𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝘁𝗼 𝗖𝘂𝘀𝘁𝗼𝗺𝘀 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 – 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗡𝗼. 𝟭𝟵/𝟮𝟬𝟮𝟱-𝗖𝘂𝘀𝘁𝗼𝗺𝘀
The Ministry of Finance (Department of Revenue), Government of India, has introduced modifications to Notification No. 27/2011-Customs through Notification No. 19/2025-Customs, revising import duty provisions. 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝘀𝗶𝘀: 𝗧𝗵𝗶𝘀 𝗮𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝗶𝘀 𝗶𝘀𝘀𝘂𝗲𝗱 𝘂𝗻𝗱𝗲𝗿: 𝗞𝗲𝘆 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁:Changes in Notification No. 27/2011-Customs (1st March 2011) 𝗥𝗲𝘃𝗶𝘀𝗲𝗱 𝗜𝗺𝗽𝗼𝗿𝘁 𝗗𝘂𝘁𝘆: For S. No. 1, in column (4), the previous duty has […]