The State Tax Department allowed taxpayers to pay profession tax using PAN after system migration caused portal access issues. Registration and return filing were temporarily disabled for March 2026 compliance.
Judicial precedents confirm that where goods or services support taxable supplies, only proportionate ITC reversal is permitted. Complete denial of credit would violate the value-added taxation principle.
Proposals for allowing retrospective UDIN generation under compliance schemes have raised questions about professional ethics. Experts argue that such relaxation could indirectly validate backdated audit documents.
The Income Tax Department conducted surveys across multiple cities after AI analysis revealed significant discrepancies between transactional data and reported income. The exercise uncovered preliminary sales suppression of about ₹408 crore.
Authorities warned taxpayers about fake GST officers conducting fraudulent inspections. Businesses must verify officer identity, written authorization, and DIN before allowing any search or inspection.
Apply online for Concurrent Audit assignments with Central Bank of India for the financial year 2026-27. Check eligibility and required documents.
GSTAT issued instructions mandating submission of SCN, OIO, OIA, and appeal grounds in APL-05. It held that incomplete documentation may lead to defects unless properly justified. The ruling ensures standardized and error-free appeal filings.
Major regulatory developments across Income Tax, GST, Customs, RBI, and SEBI were released during the week. The updates include crypto reporting rules, important court decisions, and new digital fraud protection proposals.
ICAI has announced the CA Intermediate and Foundation results for January 2026, revealing a low pass percentage, particularly in Intermediate exams. The results highlight nationwide toppers and provide key insights into exam performance trends.
Form GST PMT-09 is a facility provided under the GST law that enables a registered taxpayer to transfer or adjust balances available in the electronic cash ledger between different major heads and minor heads. The article explains the applicability and practical use of Form GST PMT-09, particularly for transferring cash balances within the same GSTIN […]
