incometax_gst_update

@professional income tax & GST

[incometax_gst_update @IncometaxGST]

Kind Attention Taxpayers!

Online filing and Excel Utility for ITR-2 for A.Y. 2026–27 are now enabled on the e-Filing portal.

[incometax_gst_update @IncometaxGST]

GSTN regrets technical difficulties experienced in return filing yesterday. Based on feedback from GSTN, Govt is considering extension of filing date of monthly GSTR 3B (20th April) by one day (21st April).

[incometax_gst_update @IncometaxGST]

GST MAJOR BREAKING : Facility for Withdrawal from Rule 14A - GSTN has now enabled the online facility for eligible taxpayers to apply for withdrawal from the option availed under Rule 14A of the CGST Rules by filing Form GST REG-32 on the GST Portal.

[incometax_gst_update @IncometaxGST]

’ option).
🟡 If no action is taken, the record is deemed accepted
🟡 Accepted BoEs flow automatically into GSTR-2B and GSTR-3B.
If the GSTIN in a BoE is amended, the previous GSTIN must reverse ITC, and the new GSTIN gets credit. Taxpayers can declare partial reversals as well.

[incometax_gst_update @IncometaxGST]

Import of Goods Now Integrated into Invoice Management System

Starting October 2025, the Bill of Entry details for imports, including SEZ transactions will appear directly in the Invoice Management System.

That means:
🟡 Importers can now accept or keep BoEs pending (no ‘reject

[incometax_gst_update @IncometaxGST]

Tax Audit date extended to 10.11.2025.

Audited ITR date extended to 10.12.2025.

[incometax_gst_update @IncometaxGST]

The due date for filing GSTR-3B for the month / quarter ending in September has been extended till 25th October.

🟡 Notification 17/2025 - Central Tax

[incometax_gst_update @IncometaxGST]

Invoice-wise Reporting Functionality in Form GSTR-7 on portal

All TDS Deductors are requested to prepare the data accordingly so that they could furnish invoice-level details on which TDS has been deducted while filing FORM GSTR-7 for the September return period onwards.

[incometax_gst_update @IncometaxGST]

B2C HSN Summary table inserted in GSTR 1..

[incometax_gst_update @IncometaxGST]

Kind Attention Taxpayers!

CBDT has decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025

This extension will provide more time due to significant revisions in ITR forms, system development needs,

[incometax_gst_update @IncometaxGST]

TDS/TCS Related changes applicable from 1st April 2025

[incometax_gst_update @IncometaxGST]

New Classification Criteria for MSMEs

➡️ Investment limit for # MSME classification to be made 2.5 times

➡️ Turnover limits for MSME classification to be doubled

[incometax_gst_update @IncometaxGST]

Short Summary of Some # Budget2025 Amendments..

[incometax_gst_update @IncometaxGST]

CBIC has waived the amount of late fee for delayed filing of GSTR-9C for the financial years 2017-18 till 2022-23, provided GSTR-9C is filed on or before 31st March 2025.

The waiver was recommended by the GST Council in its 55th meeting.