Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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The CBIC clarifies that late fees under section 47(2) of the CGST Act apply to delays in filing complete annual returns under section 44, which includes both FORM GSTR-9 and GSTR-9C (when required). For taxpayers with turnover exceeding the threshold (currently five crore rupees), the annual return is considered incomplete until both forms are submitted. Late fees accrue from the due date until complete submission, with no separate penalties for each form. For financial years up to 2022-23, excess late fees beyond those applicable until GSTR-9 filing date are waived if GSTR-9C is submitted by March 31, 2025. The Goa government has adopted these clarifications for state GST implementation.
The CBIC clarifies that late fees under section 47(2) of the CGST Act apply to delays in filing complete annual returns under section 44, which includes both FORM GSTR-9 and GSTR-9C (when required). For taxpayers with turnover exceeding the threshold (currently five crore rupees), the annual return is considered incomplete until both forms are submitted. Late fees accrue from the due date until complete submission, with no separate penalties for each form. For financial years up to 2022-23, excess late fees beyond those applicable until GSTR-9 filing date are waived if GSTR-9C is submitted by March 31, 2025. The Goa government has adopted these clarifications for state GST implementation.
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