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12/08/2026

📢 CBDT UPDATE | CII 384 NOTIFIED

The CBDT has notified the Cost Inflation Index (CII) for FY 2026–27 at 384.

📌 Notification: S.O. 3889(E)
📅 Date: 15 July 2026
⚖️ Section: 72(8)(a), Income-tax Act, 2025
📅 Applicable from: 1 April 2026

💰 CII is relevant for computing indexed cost of acquisition, wherever indexation is permitted under the applicable tax provisions.

⚠️ Important: CII 384 does not automatically mean indexation is available for every capital asset. Always check the applicable provision.

🔖 Save this post for future capital-gains reference.
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18/07/2026

🚨 E-WAY BILL UPDATE: IMPLEMENTATION DEFERRED TO 1 AUGUST 2026

GSTN has extended the implementation date of two important E-Way Bill portal functionalities from 15 June 2026 to 1 August 2026.

✅ What's Changing? • Mandatory reporting of Ship-To GSTIN in Bill-To / Ship-To transactions. • New Voluntary E-Way Bill Closure feature after successful delivery. • If the actual delivery location is genuinely unregistered, "URP" can be used where applicable.

📌 What Has NOT Changed? ✔ ₹50,000 E-Way Bill threshold ✔ Rule 138 of the CGST Rules, 2017 ✔ Distance-based validity provisions ✔ Existing E-Way Bill compliance requirements

👥 Who Should Prepare? • Manufacturers • Traders • Wholesalers • Retailers • Transporters • E-Commerce Sellers • ERP/GSP Providers • Tax Professionals

📝 Action Required Before 1 August 2026 ✅ Review Bill-To / Ship-To transactions. ✅ Update customer & consignee master data. ✅ Coordinate with ERP/GSP providers. ✅ Test the new functionality before the go-live date. ✅ Train accounts, logistics and dispatch teams.

✅ AUTHENTICITY STATUS: VERIFIED

Official References • GSTN Advisory – Enhancements in E-Way Bill Portal (Mandatory Ship-To GSTIN & Voluntary E-Way Bill Closure) • GSTN Advisory – Implementation deferred to 1 August 2026 • Rule 138, CGST Rules, 2017

Important Note:
This is a GSTN portal enhancement advisory. It does not amend Rule 138 or introduce a new notification or circular. The extension provides additional time for businesses to prepare before implementation.

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18/07/2026

🚨 ITR DUE DATES UPDATED | FY 2025-26 (AY 2026-27)

Income Tax Return filing due dates have been revised based on the amendments proposed in Finance Bill, 2026.

📅 Quick Summary: ✅ ITR-1 & ITR-2 → 31 July 2026 ✅ Non-Audit Business/Profession → 31 August 2026 ✅ Audit Cases → 31 October 2026 ✅ Section 92E (Transfer Pricing) Cases → 30 November 2026

⚠️ Important Note: The Finance Bill, 2026 prescribes due dates based on the assessee category, audit status, and Section 92E applicability. The ITR form-wise due dates shown in this post are mapped according to the applicability of each ITR form.

✅ AUTHENTICITY STATUS: VERIFIED

📚 Source: • Finance Bill, 2026 • Clause 5 • Amendment to Section 139(1), Explanation 2 of the Income-tax Act, 1961

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17/07/2026

🚨 BIG INCOME TAX TRANSITION UPDATE

AY 2026-27 & Earlier – Which Income-tax Act Applies? 🤔

CBDT has clarified an important transition point after the introduction of the Income-tax Act, 2025.

✅ Key Highlights: • AY 2026-27 & earlier matters continue under the Income-tax Act, 1961 • Filing your return after 1 April 2026 does not automatically make the new Act applicable • The period of income decides which law applies—not the filing date • ITR-U can now be filed up to 48 months (subject to conditions) • Additional tax may be 25% / 50% / 60% / 70% depending on when the ITR-U is filed • Existing PAN, TAN, registrations, approvals, refunds and pending proceedings remain protected as per applicable law

⚠️ Don't Assume—Check First! Before filing an ITR, Updated Return (ITR-U) or responding to a notice, verify which Act governs your case.

📚 Official References: • Income-tax Act, 1961
• Income-tax Act, 2025
• Finance Act, 2025
• CBDT Clarifications & FAQs

📩 Need help with ITR Filing, ITR-U, Tax Notices or Income Tax Compliance?

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17/07/2026

🚨 BREAKING GST JUDGMENT | TRIPURA HIGH COURT ⚖️

Annual Return Deadline Extension ≠ Automatic Extension of Departmental Limitation

Tripura High Court has delivered an important ruling concerning limitation under Section 74 of the CGST Act.

📌 The Court held that an extension granted to taxpayers for filing the Annual Return does not automatically extend the limitation available to the GST Department.

⚠️ Key Takeaway:
✔️ Limitation must be examined with reference to the statutory framework and relevant due date.
✔️ A taxpayer-side return extension does not, by itself, give the Department additional time.
✔️ Limitation notices/orders should be carefully reviewed before responding.
✔️ Parallel proceedings on the same subject matter may also require examination under Section 6(2)(b).

👨‍⚖️ Case: Shekhar Chandra Podder v. Union of India
🏛️ Court: Tripura High Court
📄 Case No.: WP(C) No. 285 of 2025
📅 Decision: 30 June 2026

⚠️ Important: This ruling does not mean every old GST demand is automatically time-barred. The relevant financial year, SCN/order dates, applicable notifications and facts of each case must be examined separately.

📩 Facing a GST SCN or Demand Order?
DM for professional guidance.
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17/07/2026

📢 CBDT UPDATE | Foreign Asset & Income Data in AIS / Form 26AS 🌍

CBDT has authorised uploading of specified financial information received from foreign jurisdictions under AEOI into taxpayers' AIS / Form 26AS.

If you have reportable:

🌍 Foreign Bank Accounts
📈 Overseas Investments
💰 Foreign Interest / Dividend Income
🏢 Foreign Shares, RSUs or ESOPs

👉 Such information received through international exchange arrangements may reflect in your AIS / Form 26AS.

⚠️ This is not a new tax. It strengthens information reporting, transparency and matching with ITR disclosures.

✅ What Should You Do?
✔ Check AIS before filing ITR
✔ Reconcile foreign bank/broker statements
✔ Check Schedule FA applicability
✔ Report foreign income & assets correctly
✔ Maintain supporting documents

🚨 Incorrect or missing disclosures may lead to mismatches, notices or further proceedings under applicable law.

📚 Source: CBDT Order F.No. 225/73/2025-ITA-II dated 08 July 2026

📩 Need help? DM
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17/07/2026

🚨 Rebate u/s 87A in the New Tax Regime (FY 2025-26 | AY 2026-27)
Confused about the ₹12 Lakh Tax-Free Limit under the New Tax Regime? 🤔
Many taxpayers believe that any income up to ₹12 lakh is completely tax-free, but that's not always correct.
This carousel explains the practical treatment of Rebate u/s 87A, especially where special rate incomes like LTCG, STCG, etc. are involved.
📌 In This Carousel
✅ Who can claim Rebate u/s 87A?
✅ Conditions to avail the rebate
✅ Role of Section 115BAC(1A)
✅ Tax treatment of special rate incomes
✅ Practical examples
✅ Common mistakes taxpayers make
✅ Important compliance tips
⚠️ Important Note
This post is for educational and awareness purposes only.
Tax computation depends on your income composition, applicable provisions of the Income-tax Act, 1961, the Finance Act, the latest ITR Utility, and official CBDT guidance.
Always verify your eligibility before filing your Income Tax Return.
👥 Who Should Read This?
✔ Salaried Employees
✔ Professionals
✔ Business Owners
✔ Pensioners
✔ Investors earning Capital Gains
✔ Tax Practitioners
✔ Chartered Accountants
✅ Key Takeaways
• Rebate u/s 87A is available only to eligible Resident Individuals under the prescribed conditions.
• The New Tax Regime provides a rebate of up to ₹60,000 for eligible taxpayers.
• Tax payable on certain special rate incomes may not qualify for rebate where specifically restricted by law.
• Always use the latest ITR Utility and verify your computation before filing.

03/07/2026

🚨 BIG GST ALERT | AATO AMENDMENT TIMELINE REVISED FOR FY 2025–26

GSTN has revised the timeline for Amendment of Aggregate Annual Turnover (AATO) for FY 2025–26 on the GST Portal. If your AATO is incorrect, this is the opportunity to update it within the prescribed timeline.

✅ AUTHENTICITY STATUS: VERIFIED

Based on the GSTN Advisory dated 01 July 2026.

📅 Important Timeline

🗓️ AATO Amendment Window: 01 July 2026 – 31 July 2026

🗓️ Review by Jurisdictional Tax Officer: 01 August 2026 – 15 August 2026

👥 Who Should Review Their AATO?

✔️ Regular Taxpayers

✔️ Composition Taxpayers

✔️ Businesses & Companies

✔️ GST Practitioners & Tax Professionals

✔️ Taxpayers requiring correction in Aggregate Annual Turnover

⚠️ Why Is This Important?

An incorrect AATO may affect GST compliance, eligibility, and other system-based validations on the GST Portal. Reviewing your turnover details now can help avoid future compliance issues.

✅ Action Checklist

✔️ Verify your AATO on the GST Portal.

✔️ Compare it with your actual turnover.

✔️ File the amendment, if required, before 31 July 2026.

✔️ Keep supporting documents ready.

✔️ Track the status of your application.

💡 Professional Tip

Don't wait until the last day. Review your AATO well in advance to avoid last-minute portal issues and ensure smooth GST compliance.

📩 Need help with GST Registration, GST Returns, GST Compliance, GST Notices or GST Advisory?

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📚 Source: GSTN Advisory – "Revision of Timeline for Amendment of Aggregate Annual Turnover (AATO), 2026" dated 01 July 2026.

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30/06/2026

🚨 GSTAT FILING DEADLINE EXTENDED TO 31 JULY 2026 🚨

The CBIC, vide its Notification dated 30 June 2026, has extended the last date for filing eligible appeals and applications before the GST Appellate Tribunal (GSTAT) from 30 June 2026 to 31 July 2026.

📌 Who Can Avail This Extension?

✅ Appeals Where the order was communicated before 1 May 2026.

✅ Applications Where the order was passed before 1 February 2026.

⏳ Important Note

For orders covered on or after these dates, the normal statutory time limits will continue to apply:

📌 Appeals: Within 3 months from the date of communication of the order.

📌 Applications: Within 6 months from the date of the order.

⚖️ Why This Matters?

✔ Additional time to prepare a strong appeal.

✔ Opportunity to compile documents and supporting evidence.

✔ Relief for taxpayers and professionals handling pending GSTAT matters.

⚠️ Do not wait until the last day. File your appeal/application well before the deadline to avoid technical issues or last-minute delays.

📚 Reference: CBIC Notification dated 30 June 2026 issued under Section 112 of the CGST Act, 2017.

📩 Need help with GST Appeals, GSTAT Filing, GST Notices or Litigation?

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30/06/2026

🚨 SILENT GST MISTAKES THAT CAN TRIGGER SCRUTINY NOTICES & PENALTIES 🚨

A GST notice doesn't always arise because of tax evasion. In many cases, it is triggered by simple compliance mistakes that businesses unknowingly make.

Even a small error can result in: ❌ ITC Reversal
❌ Interest Liability
❌ Tax Demand
❌ Penalties
❌ GST Scrutiny Notice
❌ Unnecessary Litigation

In this carousel, we've covered 10 common GST mistakes that frequently attract scrutiny under Section 61 of the CGST Act, 2017, along with practical compliance tips and the relevant legal provisions.

📌 Key Topics Covered

✅ ITC not reversed after 180 days (Section 16(2) & Rule 37)

✅ Failure to reverse ITC on exempt supplies (Rules 42 & 43)

✅ Miscellaneous income not reviewed for GST implications

✅ Incorrect reporting of GST on advances

✅ Reverse Charge Mechanism (RCM) non-compliance

✅ Related party valuation errors (Rule 28)

✅ Delayed GSTR-1 filing compliance risks

✅ Claiming blocked ITC under Section 17(5)

✅ GSTR-1 vs GSTR-3B mismatches

✅ Claiming ITC without proper GSTR-2B reconciliation

⚖️ How GST Scrutiny Works

📄 The department may issue FORM GST ASMT-10 under Section 61 for discrepancies found during scrutiny.

📝 Taxpayers should submit a proper reply through FORM GST ASMT-11 within the prescribed time. If discrepancies remain unresolved, further proceedings may be initiated under the applicable provisions of the CGST Act.

💡 Compliance Checklist

✔ Reconcile GSTR-1, GSTR-3B & GSTR-2B every month.

✔ Review ITC eligibility before claiming credit.

✔ Verify RCM applicability on all expenses.

✔ Check Rule 42 & Rule 43 reversals.

✔ Review miscellaneous business receipts for GST implications.

✔ Maintain proper invoices, reconciliations and supporting documentation.

🚨 Most GST notices arise due to compliance mismatches—not complex tax rates. Prevention is always better than litigation.

📩 Need help with GST Scrutiny, ASMT-10 Notices, GST Audit, ITC Issues or GST Compliance?

DM for professional guidance.

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