Discover the key amendments in the Finance (No. 2) Bill, 2024, affecting CGST, IGST, UTGST, and Cess Act, including tax exemptions and changes in credit rules.
From April 2025, TPOs can determine ALP for SDTs not initially referred or reported. This ensures accurate adjustments and compliance with new regulations.
Starting October 2024, Aadhaar Enrolment ID can no longer be used for PAN applications or income returns. Quoting Aadhaar numbers becomes mandatory to prevent misuse.
From October 2024, applicants can withdraw advance ruling requests pending with the Board for Advance Rulings by October 31. Final decisions due by December 31, 2024.
Starting October 1, 2024, Commissioners (Appeals) will gain new powers to set aside and refer best judgment assessments back to Assessing Officers.
