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Mumbai ITAT Decision: Tax Authorities Must Accept Declared Profits if Books Not Rejected
This ruling serves as a vital precedent for taxpayers facing ex-parte assessments. It reinforces that tax authorities cannot disregard audited financial statements without valid grounds for rejection. Additionally, it highlights the importance of analyzing the actual date of property transactions rather than relying solely on the date of TDS payments when determining the correct assessment…
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How Missing Bank Details Lead to GST Registration Suspension
Urgent GST Update: Auto-Suspension of Registration for Missing Bank Details Date: December 8, 2025 Topic: GST Advisory No. 641 (Rule 10A Compliance) The Goods and Services Tax Network (GSTN) has issued a critical advisory (Advisory No. 641, dated December 05, 2025) that impacts all registered taxpayers who have not yet updated their bank account details…
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GST Alert: Correcting Auto-Populated Values in GSTR-3B
It is to inform you that from November-2025 tax period onwards, value of supplies auto-populated in Table 3.2 of GSTR-3B from the returns/forms mentioned above, shall be made non-editable. The GSTR-3B shall be filed henceforth with the system generated auto-populated values only in table 3.2.
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Revised Small Company Definition & Compliance Benefits
Revised Criteria for Small Company & Eased Compliance for Small Companies
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New GST IMS Update: Import of Goods & Bill of Entry Integration (Effective Oct 2025)
A new feature is added in the Invoice Management System (IMS) on the GST portal for imported goods
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Decoding GSTR-9 and GSTR-9C for FY 2024-25: Your Essential FAQ Guide
The Goods and Services Tax Network (GSTN) has issued a set of FAQs to provide clarity on filing the Annual Return (GSTR-9) and Reconciliation Statement (GSTR-9C) for the Financial Year (FY) 2024-25.
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