Updates in Short
Mini Updates
#8
GSTR -1 Feb 2025 Onwards
Manual HSN entry is replaced with a dropdown selection.
A customized description mentioned in HSN master will auto-populate in
a new filed called “Description as per HSN Code”
GST
19.02.2025
#7
GSTR -1 Feb 2025 Onwards
GSTR-1 Table-12 (HSN reporting) is bifurcated into B2B and B2C tabs for separate reporting of HSN.
4 or 6 HSN digits depending on turnover.
GST
19.02.2025
#6
Deadline Alert!
As per the Finance Act (No. 2) 2024, TDS/TCS correction statements cannot be filed after 6 years from the end of the relevant FY.
Last date: 31st March 2025 for FYs 2007-08 to 2018-19
#5
New Income Tax bill shall be presented on 06.02.2025.
UPDATE: The Bill is now expected to be presented soon
Income Tax
05.02.2025
#3
Union Budget shall be presented on 1st February 2025 11 am onwards
Budget 2025
31.01.2025
#2
GST Rectification Orders shall not be visible on portal in following cases
1. Appeal against the order is filed
2. Order is not uploaded online (Check if reflected in “Payment Towards Demand”)
GST Portal Updates
30.01.2025
#1
Income Tax Return due date is extended from 31.12.2024 to 15.01.2025 for Resident Individual for ITR of FY 2023-24