Onewaytaxsolutions

24/06/2026

https://www.onewaytaxsolutions.com/blog.html -filing-benefits-9-reasons

Expert tax tips, GST updates, ITR filing guides, ROC compliance and startup advice from Jaipur's top CA firm.

24/06/2026

https://www.onewaytaxsolutions.com/blog.html -taxation-44ad-vs-44ada

Expert tax tips, GST updates, ITR filing guides, ROC compliance and startup advice from Jaipur's top CA firm.

18/02/2026

Section 74 ka misuse? GSTAT ne diya clarity

Recent decision in M/s Sterling & Wilson Pvt. Ltd. v. Commissioner, Odisha, Commissionerate of CT & GST & Ors. (11 Feb 2026) ne clear kiya ki har GSTR-1 vs GSTR-3B mismatch ko Section 74 (fraud) nahi maana ja sakta.

Case mein return mismatch tha, lekin books mein entries, debit/credit notes aur reconciliation available tha. Department ne fraud assume kiya, par Tribunal ne observe kiya ki sirf mismatch se “नीयत में दोष” presume nahi hota.

Supreme Court judgment Commissioner of Customs (Import), Mumbai v. Dilip Kumar & Company & Ors. ka reliance bhi liya gaya tha, lekin Tribunal ne clarify kiya ki woh exemption interpretation ka case tha, factual reconciliation ka nahi.

GSTAT ne hold kiya:

• Fraud prove nahi hua
• Matter Section 73 ke framework mein jayega
• Tax determination Proper Officer karega (remand)

Key takeaway:
हर mismatch = fraud नहीं।
Section 74 लगाने से पहले “धोखाधड़ी” और “जानबूझकर कर चोरी” साबित करनी होगी.

12/02/2026

⚠️ Disclaimer
❗ This post is intended for general awareness purposes only.
❗ A creative writing style has been used for better understanding.
❗ Do not take any tax or legal decision solely based on this post.
❗ Always consult your tax consultant or legal advisor before taking any action.

11/02/2026

Major Income-Tax Forms Renumbered (ITA 2025 / Draft IT Rules 2026)

India’s upcoming Income-tax framework introduces a comprehensive renumbering of compliance forms to simplify reporting and align forms with the structure of the new Act.

Tax Audit & International Tax

• Tax Audit Report
Forms 3CA / 3CB / 3CD ➝ New Form 26

• Transfer Pricing Audit
Form 3CEB ➝ New Form 48

• MAT Certificate
Form 29B ➝ New Form 66

• Tax Residency Certificate (TRC)
Form 10FA ➝ New Form 42

• DTAA Information
Form 10F ➝ New Form 41

(These audit and cross-border compliance forms have been reorganized to improve clarity and standardization.)

Charitable Trusts / NGOs – Major Restructuring

• Provisional Registration
Form 10A ➝ New Form 104

• Registration / Renewal
Form 10AB ➝ New Form 105

• Accumulation of Income
Form 10 ➝ New Form 109

• Audit Report
Forms 10B / 10BB ➝ New Form 112

• Donee Statement
Form 10BD ➝ New Form 113

• Donor Certificate
Form 10BE ➝ New Form 114

(Charitable institutions will need to update donor communication and reporting processes.)

TDS / TCS & Withholding Compliance

• Lower / Nil TDS Application
Form 13 ➝ New Form 128

• Salary TDS Certificate
Form 16 ➝ New Form 130

• TDS Return (Salary)
Form 24Q ➝ New Form 138

• TDS Return (Residents)
Form 26Q ➝ New Form 140

• TDS Return (Non-Residents)
Form 27Q ➝ New Form 144

• TCS Return
Form 27EQ ➝ New Form 143

(Renumbering aims to enable better analytics and automated reconciliation.)

Other Key Compliance Forms

• Tax Credit Statement (26AS) ➝ New Form 168
• Foreign Remittance Declaration (15CA) ➝ New Form 145
• CA Certificate for Remittance (15CB) ➝ New Form 146
• SFT Filing (61A) ➝ New Form 165

Important Practical Note

The new Income-tax Act, 2025 and related rules are expected to apply from 1 April 2026.

Existing return forms may continue during the transition period and changes will be phased in gradually.

Tax professionals, businesses, NGOs and employers should start updating compliance checklists, software and documentation formats well before the FY 2026-27 transition.

11/02/2026

DRAFT INCOME TAX RULES 2026

The Central Board of Direct Taxes (CBDT) released the draft Income-tax Rules, 2026 and associated forms on February 7, 2026. These rules are designed to operationalise the Income-tax Act, 2025, which is scheduled to replace the 1961 Act starting April 1, 2026. Key Highlights of the Draft Rules The n...

05/02/2026

📌 GST ASMT-10 Notice Explained – Don’t Panic!

Received an ASMT-10 notice from GST?
Relax — it’s not a tax demand, only a clarification notice issued when there is a mismatch in your returns.

📌 What is GST ASMT-10?

ASMT-10 is a Scrutiny Notice issued by the GST department under Section 61 of the CGST Act.

It is sent when the officer finds mismatch, inconsistency, or errors in your GST returns (GSTR-1, GSTR-3B, GSTR-2B, etc.).

⚠️ Important:
ASMT-10 is NOT a tax demand notice.
It is only asking you to explain or clarify differences.

🔍 Common Reasons for ASMT-10

Difference between GSTR-1 vs GSTR-3B

ITC claimed in 3B higher than 2B

High refund claims

Nil return filed but transactions found

Excess turnover shown in ITR vs GST

Non-payment of RCM liability

Wrong tax rate applied

Excess input services or capital goods ITC

Mismatch in e-way bill data

Unusual fluctuations in sales or ITC

📄 What is ASMT-11?

ASMT-11 is your reply to ASMT-10.

You must:

Accept the mistake and pay tax (if any), OR

Give proper documentary explanation

Istt Follow me - Adv Gagan Arora

⏰ Time limit:
Reply within 30 days from date of notice (or as mentioned).

🧾 How to Reply to ASMT-10 (Step-by-Step)
Step 1: Download Notice

Login → GST Portal → Services → Returns → Scrutiny

Step 2: Analyse Differences

Check:

GSTR-1 vs 3B

3B vs 2B

Books vs GST

ITR vs GST

Step 3: Prepare Reply (ASMT-11)

Attach:

Reconciliation statements

Invoices

Working sheets

Explanation note

Step 4: Submit Online

File ASMT-11 on GST portal with attachments.

📑 What Happens After Reply?
Case 1: Reply accepted

Officer issues ASMT-12 → Proceedings closed ✅

Case 2: Reply not satisfactory

Department may issue:

DRC-01 (tax demand)

Audit notice

Inspection / investigation

🚨 If You Ignore ASMT-10

If no reply:

Officer can directly issue demand

Interest + penalty applicable

Higher chances of audit

Bank attachment possible

Best Practices (Pro Tips)

✔ Always reconcile monthly
✔ Don’t claim ITC without 2B
✔ Keep working papers ready
✔ Reply professionally (not emotional)
✔ Never ignore GST notices

One-Line Summary

ASMT-10 = Warning Bell
ASMT-11 = Your Defence
ASMT-12 = Safe Exit

05/02/2026

The Goods and Services Tax Network (GSTN) has launched a new online facility titled “Application for Unbarring Returns” on the GST Portal, enabling taxpayers to seamlessly request unblocking of returns that have been system-barred due to prolonged non-filing.

As per Rule 59(6) of the CGST Rules, read with Sections 39 and 47 of the CGST Act, the GST system automatically bars the filing of subsequent returns when a registered taxpayer fails to furnish returns for three consecutive tax periods. Once barred, the respective return period becomes non-editable, preventing further compliance until unblocked.

Key Features of the Newly Introduced Module

Online Application for Unbarring

Taxpayers can now submit unblocking requests directly through the portal under:
Dashboard → Services → Returns → Application for Unbarring Returns

Mandatory Reason Submission

Applicants must clearly state the reasons for non-filing of earlier returns while submitting the request.

Automated Routing to Jurisdictional Officer

Submitted applications are electronically routed to the Jurisdictional Assessing Officer, who will evaluate the justification.

Approval Enables Return Filing

Upon satisfaction, the officer may approve the unbarring request, after which the blocked return period becomes available for filing.

Significance of the New Module

This new system-driven mechanism simplifies the process of unblocking barred returns, improves compliance efficiency, and eliminates the need for manual intervention or offline correspondence. It supports the Government’s ongoing efforts to enhance ease of doing business and provide a transparent digital interface for GST-related processes.

01/02/2026

📢 Union Budget 2026 – Key Highlights & Updates
Presented by: Finance Minister Nirmala Sitharaman
Theme: Growth • Simplification • Inclusive Development
🏭 Support for MSMEs
Corporate Mitras for MSMEs
Professional courses by ICAI, ICSI & ICMAI
Special support for Tier-2 & Tier-3 cities
🧾 New Income Tax Law
New Income Tax Act, 2025
Effective from April 2026
Focus on simpler and easier compliance
📅 ITR Filing Timeline Changes
ITR-1 & ITR-2: Due by 31 July
Trusts: Due by 31 August
✈️ TDS / TCS Relief
TCS under LRS reduced to 2%
Applicable to foreign travel, education & medical expenses
⚠️ Tax Audit Penalty
Renamed as “Late Fees” (softer compliance approach)
💰 GST Performance (Jan 2026)
Collections: ₹1.93 lakh crore
Growth: ↑ 6.2% YoY
YTD Collections: ₹18.43 lakh crore
📊 Macro Economic Snapshot (FY 2026–27)
Fiscal Deficit: 4.3% of GDP
Net Tax Receipts: ₹28.7 lakh crore
Total Expenditure: ₹53.5 lakh crore
Capital Expenditure: ₹12.2 lakh crore

01/02/2026

🔔 GST Update – Rule 86B Explained (As on Jan 28, 2026)
📌 Rule 86B restricts the use of ITC in the Electronic Credit Ledger (ECL)
🔒 99% Output Tax Liability Cap
Generally, ITC cannot be used beyond 99% of output tax liability
Applicable when taxable supply exceeds ₹50 lakh per month
Minimum 1% tax must be paid in cash
✅ Who is Exempt from Rule 86B?
The 99% restriction does NOT apply if any one of the following is satisfied:
1️⃣ Income Tax paid > ₹1 lakh in any of the last 2 years
2️⃣ GST refund > ₹1 lakh (Unutilised ITC – Inverted Duty Structure)
3️⃣ GST refund > ₹1 lakh (Unutilised ITC – Other than inverted)
4️⃣ GST refund > ₹1 lakh (Unutilised tax – cumulative)
5️⃣ Cash payment ≥ 1% of output tax liability
6️⃣ Specified entities:
Government Departments
PSU
Local Authorities
7️⃣ New exception:
Rule 31D goods where tax is paid on RSP
🛡️ Additional Relief
Commissioner has power to remove restriction after verification
📚 Legal Reference
Notification 94/2020-CT & 20/2025-CT