March 21, 2025

The GSTN is addressing technical glitches encountered by taxpayers while filing applications (SPL 01/SPL 02) under the waiver scheme.

Key Issues:

• Difficulties in selecting order numbers, auto-populating order details and payment information in SPL 02.
• Inability to make payments towards demand orders after filing SPL 02 or adjust payments made through DRC 03.
• Unable to withdraw Appeal applications (APL 01) filed earlier.

Important Dates & Clarifications:

• Last date to file waiver applications is 30.06.2025, not 31.03.2025 as commonly believed.
• Last date for tax payment to avail the waiver scheme is 31.03.2025.

Guidance:

• Make tax payments using "Payment Towards Demand" functionality on the GST portal.
• If facing issues, use Form DRC-03 (Voluntary Payment) and submit Form DRC-03A to link the payment with the demand order.
• Verify payment details in the Electronic Liability Register on the GST portal if auto-population fails in SPL 02.

Action for Taxpayers:

• Pay taxes by 31.03.2025.
• File waiver applications by 30.06.2025.
• Raise a grievance ticket immediately for any issues encountered.

News Link

March 16, 2025

According to the Income Tax Department, the total Direct Tax Collection in the F.Y. 2024-25 was ₹21,26,923 Crores. This is about 13% growth from the prior year, when the amount collected was ₹18,80,055.

Advance Tax collection also saw a healthy increase of 14.62% from ₹9,11,482 in F.Y. 2023-24 to ₹10,44,700 in F.Y. 2024-25. A big jump of 20.47% was observed in the Non-Corporate Tax (NCT), i.e., taxes paid by individuals, HUFs, Firms, Local Authorities, etc.

More details can be found on the Income Tax Department website - www.incometaxindia.gov.in

News Link

Nov. 28, 2023

• GST council has recommended granting amnesty to GST taxpayers who could not file their appeal on or before 31st March 2023.
• Taxpayers can now use the form GST APL-01 to file an appeal on the GST portal before 31st January 2024

More details can found in the link.

News Link

Securely manage your foreign income and Indian investments with the right NRI bank accounts. Learn about NRE and NRO accounts and make informed decisions for your financial future. Read Article

Moving abroad? Don't get caught off guard by Indian NRI regulations! This guide clarifies FEMA and Income Tax Act definitions, helping you understand your rights and responsibilities as an NRI. Read Article

Selling your Indian property and moving funds to another country? Learn how to seamlessly repatriate your sale proceeds, understand tax implications, and navigate the necessary paperwork. This guide provides clear steps and examples to make the process smooth sailing. Read Article

Demystify the world of TDS with our step-by-step guide to TRACES. Learn how this online portal simplifies tax filing, ensures accuracy, and saves you time and hassle. Read Article

• All income tax returns except ITR-6 deadline July 31, 2025
• ITR-6 for Companies needing audit deadline Oct. 31, 2025
• Furnishing of belated or revised return of income for Assessment Year 2024-25 deadline Dec. 31, 2025

Fourth instalment of advance tax for the assessment year 2025-26. deadline March 15, 2025

First instalment of advance tax for the assessment year 2025-26. deadline June 15, 2025

Second instalment of advance tax for the assessment year 2025-26. deadline Sept. 15, 2025

Third instalment of advance tax for the assessment year 2025-26. deadline Dec. 15, 2025

GSTR-1 (Oct-Dec, 2023) deadline Jan. 13, 2024

CMP-08 (Oct-Dec, 2023) deadline Jan. 18, 2024

GSTR-3B (Oct-Dec, 2023) deadline Jan. 22, 2024

TDS Deposit (Oct-Dec, 2023) deadline Jan. 7, 2024