ASHWIN THAKKAR

Sir For TDS u/s 194T (old)now can be apply for Lower or NIL deduction u/s 395(1) by filing form 128

@Sudhirhalakhndi Can now apply for Lower or NIL deduction u/s 395(1) by filing form 128

The new TDS provision on partners' interest/remuneration will create unnecessary cash flow stress for small-medium partnership firms. In most cases, partners will get this TDS back as a refund. First deduct the tax, then give the refund — this is pointless compliance.

Signing date mentioned April 27 2025 in delhi? AI date!

@caanupam7 Sir is it applicable to flight or ship crew members too? Or any exemption for such type of travellers

TAX COMPLIANCE FOR INTERNATIONAL TRAVEL 🚨 Planning to travel abroad after April 1st, 2026? Under the new Income-tax Act, 2025 (Section 420 & Rules 228-229), there are mandatory reporting requirements you need to know about before you head to the airport. Quick Compliance Guide: • If you have a PAN: You must fill Form 156 online via the Income Tax e-Filing Portal. You'll need to provide your PAN, purpose of visit, and estimated stay. • If you DON'T have a PAN: (Often applies to students, retirees, or those without taxable income), you must submit Form 157 manually to your Jurisdictional Assessing Officer. • Frequency: This is an event-based filing. You must do this every single time you leave India. • Consequences: Non-compliance may lead to issues at immigration or result in notices and penalties. Don't let paperwork ruin your travel plans. Ensure your filings are in order before booking your tickets! For any queries or professional clarification, feel free to contact: CA Anupam Sharma 📍 02 Victoria Garden, Victoria Park Road, Jail Chungi, Meerut 📞 Mob: 9719103027, 9837138740

@DEEPKORADIA Thanks a lot sir ji 🙏

@ashwin1964 Mailed!

RCM under GST - Master Chart (For FY 2026–27) Covers all RCM entries with HSN/SAC, GST rate, relevant exemptions - in a simple tabular format. 💻 Must-have for daily use - keep it handy on your desktop! 👥 Includes effective date for each entry - useful for past adjudication & audits for CAs, tax professionals, staff, accountants & finance teams 🖨️ Want high-resolution, print-ready PDF/JPG? Follow and comment your mail ID — we’ll share it 👍

@AbhasHalakhandi As tax already paid on rsp value Now composition dealer has to pay 1% on their sales of tobacco items ? This will be double tax

🚨Practical issue in Tobacco and other MRP based goods w.e.f. 1.2.2026 Example in Advisory issued: RSP: Rs1,00,000 GST Rate: 40% Tax payable: Rs 28,571 [1 lac*40/140] Deemed value: Rs. 71,428 Actual sale consideration : Rs.60,000 Invoice value : 88,571 As per GSTN advisory, taxpayer is expected to report the actual sale value in GSTR-1 (60000) as Taxable Value and manually edit the auto calculated Tax value to 28571on the basis of the deemed value. However, in the offline utility, a practical difficulty arises. The utility calculates tax directly from the taxable value entered by the taxpayer. Therefore: 📌if actual sale value of ₹60,000 is entered, tax is calculated on ₹60,000 only, which is not as per the advisory 📌if deemed taxable value of ₹71,428 is entered, tax of ₹28,571 at 40% is correctly calculated, but the actual sale consideration of ₹60,000 is not reflected. Thus, as of now, a taxpayer using the offline utility has only one practical option: to enter the deemed taxable value so that correct tax is computed, while ignoring the actual sale value in return reporting. @Infosys_GSTN @cbic_india may kindly acknowledge this practical issue and provide a separate field for deemed taxable value in the offline utility & online too,so that both actual sale value and the deemed value can be reported correctly in line with the advisory. Request professionals to comment if they are facing the same issue @CA_HarshilSHETH

Get well soon sir 🙏

Defence

@IncomeTaxIndia @FinMinIndia Request to develop online utility for closure of capital gain account with designated bank it is for taxpayers facilitation Request to develop aeap

@TilotamaG CpGram online complin portal it may help you

Where can complaint be made when a GST officer is hell bent on harassing an Assessee? @Infosys_GSTN @GST_Council

"ERROR"

@abhishekrajaram No sir working smoothly

Is the GST Portal facing problem?

😁😞😀

Sir it should be 12th Jan 2026

@haldiaarpit In such a case if interest payment is not applicable for delay in IGST can department also asked not to pay interest on such IGST paid refund Your view sir please

Is Interest payable on delayed discharge of tax on goods exported outside India against payment of tax Leaving aside other grounds for challenge, this posts touches the issue that tax on export of goods on payment of tax under IGST is not a tax payable under the Act and since it is not in the nature of tax payable therefore no interest is leviable under Section 50 which provides that "Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid…" Every Taxable person who is liable to pay tax as per the provisions of the Act is liable to pay Interest on “failure to pay the tax..for the period for which the tax or any part thereof remains unpaid”. The Gujarat High Court in[1] relying upon principle laid down in earlier judgements[2] observed that that though tax is leviable on the interstate supply but as per the provision of Section 16(1) of the IGST Act, the same would be zero rated supply and the exporter is not liable to pay any tax on such supply. Thus, option is given either to give an undertaking or to pay tax which is adjusted by way of credit ledger or refunded as per Rule 89 and/or Rule 96 of the CGST Rules, 2017. Therefore, in case of a zero rated supply, no tax was payable by the petitioners on such goods and as such though the tax was leviable as per Section 5(1) read with Section 7(5) of the IGST Act. Thus, penalty on such goods in absence of E-way Bill was thus levied equivalent to exempted goods under Section 129(2) and not 129(1) as for Section 129(1) it was at the rate of 200% on the tax payable on goods. In view of the above, it can be argued that even if liability under IGST is being discharged, it is not because it is payable as the supplies are zero rated and since no tax is payable, exporter is given an option either to give an undertaking or to pay tax and obtain refund. Thus, by virtue of exercising the option, tax on such supplies does not become payable as inherent nature of supplies still remains zero rated. Since, Interest is payable on delayed payment of tax liable to be paid, therefore even if tax has been paid late on such IGST supplies, no interest shall be payable because this tax was never payable on account of supplies being zero rated. Tax was discharged as a means of getting refund of tax by virtue of option given in the statute and this is not a amount collected from any person. It is a mode of getting the refund and no more than that and by late filing, it is the exporter who gets the refund late and government is only holding the amount as custodian. [1] Marcowagon Retail (P.) Ltd. vs. UOI [2025] 175 taxmann.com 791 (Gujarat)[24-04-2025] [2] Atul Auto Ltd. v. State of Gujarat [2016] 66 taxmann.com 98 (Gujarat), J. K. Synthetics Ltd. v. Commercial Taxes Officer (1994) 4 SCC 276.

@IncomeTaxIndia Still no progress for A.Y 24-25 IT refund even though provided ECS mandate thrice asking same details again and again Not able to understand reason for not releasing Due refund

@ashwin1964 Dear @ashwin1964, We have escalated your issue with our team. They are looking into this.

Grievance No.24328513 13.12.25 No.24456148 23.12.25 Refund reissue request rejected thrice can I change Bank ECS mandate to another bank account? Plz guide

@IncomeTaxIndia ECS mandate provided thrice but same is asked every time request to do needful or provide facility for other bank ECS mandate form

@IncomeTaxIndia Still the issue is not resolved even after one week No communication from department Request to do needful urgently as A Y 24-25 Refund not received till date all required procedure completed thrice but no response Do needful and oblige

@ashwin1964 Dear @ashwin1964, We are following up on your issue with the team concerned. This is being looked into by our team.