GST| The GSTN has issued an advisory to inform about the facility for re-filing of GSTR-3B for some of the taxpayers since 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 […]

INCOME TAX: Where assessee’s revision petition under section 264 was dismissed on ground that assessee had not applied for revision within limitation time prescribed and there was delay of more than two years, Legislature had conferred power on Principal Commissioner to condone delay under section 119 to enable authorities to do substantive justice to parties

Income Tax| The CBDT has issued a corrigendum to the notification issued on the time limit to verify Income-tax returns. Para 5 of the notification is amended to provide that ITR shall be deemed invalid if it isn’t verified within 30 days of uploading or by the due date as per the Income-tax Act, 1961,

The GST department has issued an advisory required to generate an e-invoice from 1st April 2024 if their turnover exceeds INR 5 crores in FY 2023-24. In the notification dated 03rd April 2024, the department has specified that if the turnover of a taxpayer exceeds INR 5 crores in the FY 2023-24, the taxpayer will

The CBDT notified changes to the Form 3CD vide Notification No. 27/2024 /F. No. 370142/3/2024-TPL, dated 05-03-2024. The changes duly include disclosure of section 43B(h) disallowance under clause 26. However, Clause 22, pertaining to interest restrictions under the MSME Development Act, was not amended. Now, said clause is amended to include disclosure of the amount