PRAFUL PADWAL

Learner,Tax Consultant.

[CA Ruchita Vaghani @R_N_Vaghani]

Limits Under GST

1. GST Registration Limit:
➡️For Goods - ₹40 lakh
➡️For Services/Both – ₹20 lakh
➡️G/S/B -Special Category States 1 - ₹10 lakh)
➡️G/S/B - Special Category States 2 - ₹20 lakh

2. Composition Scheme Limits:
➡️Traders / Manufacturers (Goods) - ₹1.5 crore
➡️(Special Category States - ₹ 75 Lakh)
➡️Service Providers (Sec 10(2A)) - ₹50 lakh
➡️Restaurants (no alcohol) - ₹1.5 crore

3. GST Returns – Turnover Based Limits
➡️Composition Scheme - ₹1.5 crore/ ₹75 Lakh
➡️Quarterly return (QRMP Scheme) - Up to ₹5 crore.
➡️Annual Return (GSTR-9) mandatory - Above ₹2 cr
➡️Annual Return optional - Up to ₹2 crore
➡️GST Audit (GSTR-9C) - Above ₹5 crore

4. E-Invoicing Limits (Turnover in any FY)
➡️Mandatory e-invoicing - ₹5 crore & above

5. E-Way Bill Limits:
➡️Mandatory e-way bill - Consignment > ₹50,000
➡️Optional e-way bill - Up to ₹50,000

6. GST Penalty/ Late fee Limits :
➡️General penalty of up to ₹50,000 (IGST)
➡️GSTR-3B/1 :
₹50/day (Max - ₹10,000)
₹20/day Nil return (Max - ₹ 500)
➡️GSTR - 4 :
₹50/day (Max - ₹2000)
₹20/day Nil return (Max - ₹ 500)
➡️GSTR-9 & 9C:
₹200 per day, capped at Total 0.5% of turnover

7. Prosecution Limit:
➡️Prosecution applicable - Tax evasion > ₹5 crore
➡️Arrest threshold - ₹2 crore & above (specified offences)

8. Appeal Pre-deposit Limits:
➡️1ST Appeal- 10% of disputed tax (max ₹40 crore)
➡️2nd appeal - 20% (max ₹50 crore)

9. TCS / TDS Limits Under GST:
➡️TDS applicable contract value - Above ₹2.5 lakh
➡️TDS rate - 2% (1% CGST + 1% SGST)
➡️TCS by ECO - 1%

[CA Akhil Pachori @akhilpachori]

XLOOKUP vs VLOOKUP vs HLOOKUP of Excel

[Income Tax India @IncomeTaxIndia]

The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income for Assessment Year 2026-27 in the case of persons mentioned at S. No. 2 in the Table below Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961 from 31st October, 2026 to 21st November, 2026.

Accordingly, the 'specified date' for furnishing of the report of audit under the provisions of the Income-tax Act, 1961 for Assessment Year 2026-27, in the case of such persons, stands extended to 21st October, 2026

Press Release Issued.

[CA Himank Singla @CAHimankSingla]

DUE DATE EXTENDED TO 21st OCTOBER! 🔥🔥🔥🔥

VICTORYYYYYYYYY

[CAclubindia @CAclubindia]

🚨 PROPERTY #TDS UPDATE

CBDT has notified new TDS reporting requirements for certain immovable property transactions.

📅 Effective: 1st Oct 2026

Form 141 is getting more detailed. Here's what taxpayers & professionals need to know 👇

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Following persons are compulsorily required to get their books of account audited by a Chartered Accountant

Source @IncomeTaxIndia

[बाला ठाकूर 🇮🇳🚩 @veda_mulga]

SIR २०२६ मध्ये नाव शोधण्यासाठी माहिती आणि लिंक
१. https://t.co/h5sLUoxit5
२. https://t.co/hGPbneXq5W

[CA Himank Singla @CAHimankSingla]

INCOME TAX PORTAL NOW ALLOWS TAXPAYERS TO REPORT CORRUPTION & HARASSMENT!

The Portal has introduced a dedicated window for raising grievances relating to corruption, allowing a complainant to provide details such as the name and designation of the officer involved and a description of the issue.

Interestingly, the grievance categories also include misbehaviour, harassment and sexual harassment.

This is a significant step.

Many taxpayers who face corruption, harassment or inappropriate conduct may hesitate to make a formal complaint... either because they are unaware of the appropriate forum or because of concerns about possible repercussions.

Having a dedicated mechanism directly on the Income Tax Portal makes the process more accessible and, hopefully, encourages people to report such instances.

At the same time, it is equally important that genuine complainants are adequately protected from any adverse action or victimisation by the department.

And perhaps, it is time for the GST Portal to introduce a similar mechanism as well.

A welcome step. Hopefully, it leads to meaningful action too. 🙏🏻

[CA Harshil sheth @CA_HarshilSHETH]

EWAY BILL MASTER CHART with DELIVERY CHALLAN FORMAT

A COMMON QUERY OF BUISNESSMEN ABOUT WHAT DOCUMENTS NEEDED FOR MAKING EWAY BILL for scenarios other than Sales

Under GST law, every movement of goods — Repair, job work, stock transfer, samples, exhibition despatch, or sales returns — requires a Delivery Challan under Rule 55, and an E-Way Bill wherever the value crosses ₹50,000, sale or not.

Here is A handy tool for consultants and businessmen to quickly identify which documents are needed for generating E-way bills across various transaction types—sales, job work, return, stock transfer, exhibitions, imports, etc.

Also standard Format of DELIVERY CHALLAN

[PRAFUL PADWAL @padwal_praful]

@jagograhakjago @CimGOI @nch1915 @porterit_

[PRAFUL PADWAL @padwal_praful]

@porter_india Is this how customer trust is treated?

I booked a Porter pickup at 5:34 PM. As per the shop owner (with CCTV/video proof), the delivery partner picked up my parcel at 5:48 PM.

The destination was only 3 km away, yet by 7:19 PM the parcel had still not reached me.

[PRAFUL PADWAL @padwal_praful]

but neither my parcel nor a proper resolution has been provided.

Who is responsible? Where is my parcel? Why should a customer chase the delivery partner?
Ticket: #75649041
23/07/2026

#Porter #ConsumerRights #CustomerService #India #FraudAlert @jagograhakjago @CimGOI @nch1915

[PRAFUL PADWAL @padwal_praful]

@jagograhakjago @CimGOI @nch1915 @porter_india

[CA Pooja Gupta @cagurujii]

Future & Options Turnover Calculation
#tax

[Income Tax India @IncomeTaxIndia]

Kind Attention Taxpayers!
CBDT notifies the Cost Inflation Index (CII) for FY 2026-2027 vide Notification No. 85/2026.
The Cost Inflation Index for FY 2026-27 relevant to tax year 2026-27 is 384.
CII for FY 2026-27 available at : https://t.co/81sfEaP5Yo

[CA Nitin Kaushik (FCA) | LLB @Finance_Bareek]

Filing your Income Tax Return isn't just about meeting a deadline it's about filing it RIGHT.

A small mismatch in income, GST, TDS, or supporting documents can lead to notices, delays, or unnecessary tax outgo.

I've put together this ITR Filing Checklist for Business Owners to help you file with confidence, accuracy, and compliance.

Before you hit Submit, take 2 minutes to review these 10 essential checkpoints. It could save your hours later. 👇🏼

#incometax #finance

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Various exemptions available from capital gains​

Thanks @IncomeTaxIndia

Source Link https://t.co/wQWvM5wIYK

[Income Tax India @IncomeTaxIndia]

Kind Attention Taxpayers!

The Excel Utility for ITR-5 for Assessment Year 2026–27 is now available on the Income Tax e-Filing portal.

Visit: https://t.co/uv6KQUbXGv