Updates in Short
Mini Updates
#30
Tax Audit and ITR Due Dates Extended
For AY 2026-27, the due date for furnishing the Tax Audit Report has been extended from 30 September to 21 October 2026. The ITR filing deadline for specified audit cases has also been extended from 31 October to 21 November 2026.
#29
Foreign Assets Disclosure Window for Small Taxpayers
The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 is now operational. Eligible taxpayers can voluntarily disclose specified foreign assets or foreign income and obtain immunity from further tax proceedings, penalties and prosecution, subject to the conditions of the Scheme. Declarations can be filed up to 31 December 2026.
#28
Additional Time Granted for Filing GSTAT Appeals
The limitation date for filing specified backlog appeals before the GST Appellate Tribunal was extended from 30 June to 31 July 2026, providing taxpayers additional time to transition to the new appellate system.
#27
CSR Contributions Through the Social Stock Exchange
Companies can now meet part of their CSR obligation by subscribing to Zero Coupon Zero Principal instruments issued by eligible social enterprises on the Social Stock Exchange. Such contributions are capped at 10% of the company’s total CSR expenditure for the financial year.
#26
Relaxed GSTAT E-Filing Scrutiny Continues
GSTAT’s initial ease-of-filing arrangements have been extended up to 31 December 2026. Qualifying certified scanned orders may continue to be accepted, and certain technical defects will not ordinarily result in immediate scrutiny objections.
#25
Income-tax Act, 2025 Comes into Force
The Income-tax Act, 2025 is effective from 1 April 2026. Income and advance-tax payments for FY 2026-27 are governed by the new Act, while returns, assessments and proceedings relating to FY 2025-26 and earlier years continue under the Income-tax Act, 1961.
#24
Director KYC Moves to a Three-Year Cycle
Annual director KYC has been replaced with a simpler once-in-three-years requirement for compliant directors. Directors whose KYC is already complete will generally have their next filing due by 30 June 2028
#23
Annual: 31 Mar ➝ 15 Mar
Monthly: Last day ➝ 15th next month.
#22
#21
LUT Filing for FY 2026-27 Now Open
Filing of Letter of Undertaking (LUT) for FY 2026-27 is now enabled on the GST Portal.
Exporters of goods/services and suppliers to SEZ units can now file Form GST RFD-11 to make zero-rated supplies without payment of tax.
#20
We’re delighted to share that our partners CA Dr. Sanjay Burad and CA Anuja Burad were featured in Deshdoot for their expert insights on the Union Budget 2026.
They attended the live presentation and offered practical analysis on its impact on taxpayers, businesses, and the economy.
#16
Catch our concise insights on #UnionBudget2026, on Feb 1!
Click on Budget 2026 text below to view the updates.
#15
GST Notifications
The recent GST notifications under GST 2.0 introduce important changes, including revised rates, new exemptions, ITC reversal requirements, and updated procedural rules.
Blog : https://ssburad.com/new-gst-notifications-2025/
#14
We are proud to announce that our Partner, CA Anuja S. Burad, now holds a DISA Certification (Diploma in Information Systems Audit).
This is in addition to existing qualification of CA, B.A.LL.B and CS
#13
GST Return
From July 2025 tax period (filing in Aug 2025), auto-populated liability in GSTR-3B will be non-editable.
Taxpayers must use GSTR-1A to amend any outward supply errors before filing GSTR-3B. Reconcile & rectify in time
#12
GST Return
From July 2025 tax period, GST returns like GSTR-1, 3B, 4, 5, 5A, 6, 7, 8 & 9 cannot be filed after 3 years from their due date (as per Finance Act, 2023).
Taxpayers must reconcile & file any pending returns before the cut-off kicks in!
#11
Income Tax Return
CBDT has extended the ITR due date for AY 2025-26 from 31st July 2025 to 15th September 2025 for assessees not subject to audit under clause (c) of Explanation 2 to Sec 139(1) – typically individuals, HUFs, firms (other than LLPs), etc.
#10
Our Managing Partner, CA. Dr. Sanjay Burad has been invited to serve as a Special Invitee to the GST & Indirect Taxes Committee of the Institute of Chartered Accountants of India (ICAI), New Delhi for the year 2025–26.
#9
GST Amnesty Scheme Clarification
Tax paid via GSTR 3B before 1.11.2024 accepted
Scheme benefits can be availed without Appeal withdrawal where periods after FY 2019-20 are covered.
#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”
#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.
#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
#4
Mini Updates and Blogs on Budget 2025 are now published.
#3
Union Budget shall be presented on 1st February 2025 11 am onwards
#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”)
#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