Small GST compliance errors can result in late fees, interest, blocked ITC, and penalties. This guide explains the five most common mistakes and practical steps to avoid costly consequences.
The revised ITR-4 requires mandatory disclosure of the year-end business bank balance and introduces a new investments field. The changes strengthen financial reporting while retaining the simplified presumptive taxation framework.
The Bombay High Court held that a single show cause notice covering multiple financial years under Section 74 of the CGST Act was without jurisdiction. It quashed the show cause notice, adjudication order, and recovery proceedings, while permitting fresh notices for individual financial years if otherwise permissible in law.
PFRDA has revised the audit requirements for NPS-Lite PoPs to ensure stronger governance and operational compliance. The framework introduces detailed audit procedures, auditor eligibility norms, and periodic reporting obligations.
IRDAI has proposed new regulations introducing mandatory public consultation, stakeholder participation, and periodic review for insurance regulations. The framework aims to improve transparency, accountability, and policyholder protection.
PFRDA has introduced a revised audit framework for Atal Pension Yojana Points of Presence, linking audit frequency to subscriber base and prescribing new compliance timelines and reporting requirements.
ICSI has requested the MCA to grant compliance relaxations following technical disruptions caused by the Data Centre fire. The proposed reliefs include filing extensions, protection from penalties, and operational support for affected stakeholders.
PFRDA has introduced a revised audit framework for PoPs handling NPS and NPS Vatsalya, prescribing new audit frequency, eligibility criteria for auditors, and reporting requirements. The circular strengthens compliance and operational oversight.
MCA notifies the New Development Bank under Section 2(11)(ii) of the Companies Act, 2013, specifying it as a body corporate for the Act’s purposes.
PFRDA has permitted Government Entities to continue availing Point of Presence services despite the earlier requirement for direct CRA integration. The circular introduces a flat annual fee of ₹500 per subscriber covering all PoP-related services.
