Circulars, checklists, formats and advisory notes on GST, income tax, audit, company law, FEMA and compliance — curated by our team for the general guidance of businesses and professionals. Newest first.
Section 393(2) of the Income-tax Act, 2025 (erstwhile Section 195) — rates, certificates, the 1 October 2026 TAN relaxation, Forms 144/145/146, FEMA and six case studies
Why the GST portal blocks old return periods, and what to do about it. Covers the three-year bar under Section 39(11) read with Sections 37(5), 44(2) and 52(15), the July 2025 portal implementation, an illustrative barring-date table, and the new 'Application for Unbarring Returns' route through the jurisdictional officer.
A one-time, non-extendable window under Chapter IV (Sections 130 to 144) of the Finance Act, 2026, open from 16 August 2026 to 31 December 2026. Covers eligibility across resident, non-resident and RNOR categories, the two routes under the Table to Section 133 (60% of value up to Rs 1 crore versus a flat Rs 1 lakh fee up to Rs 5 crore), Rule 3 valuation across every asset class, the cumulative-deposit basis for valuing foreign bank accounts, the Rule 5(2) 20% tolerance and its exclusion for bank accounts, currency conversion, and the four-form filing workflow with its absolute four-month payment outer limit.
Eligibility tests, the amended Rule 89(5) computation with worked examples, treatment of input services and capital goods, the notified Chapter 15 and 27 restrictions and the litigation around them, the 90% provisional refund facility from October 2025, and the effect of the September 2025 rate rationalisation.
Twenty years on, Parliament has rewritten the MSMED Act. The headline is decriminalisation. The substance is enforcement. Awards will now be recoverable as arrears of land revenue through the District Collector. Courts must release 50% of an award to the supplier where a challenge has been pending beyond six months. Facilitation Councils get a 210-day statutory clock. For twenty years the problem with the MSMED Act was never the rights it created — it was the recovery of what those rights awarded.
Knowledge paper on the ten recurring e-way bill errors under Rule 138 of the CGST Rules, 2017, the internal control for each, the 180-day and 360-day system validations, and the Ship-to GSTIN and voluntary closure changes effective 1 August 2026. Includes an eleven-point pre-dispatch checklist.
The critical distinction between a commercial/financial credit note and a Section 34 GST credit note — Section 34(1) grounds, the 30 November deadline, the substituted proviso making the supplier's output-tax reduction conditional on recipient ITC reversal (w.e.f. 01.10.2025), the IMS linkage, and post-sale discounts under Circular 251/08/2025-GST.
How to sequence the sale of an old house and a plot so that the capital gain is fully exempt under Sections 82, 85 and 86 of the Income-tax Act, 2025 — with worked examples and cost-allocation tables.
Existing resident savings/current account to be redesignated as NRO account on becoming a non-resident under FEMA — penalty exposure, NRE vs NRO structure, TDS on interest, repatriation up to USD 1 million and correct ITR disclosure (not Schedule FA).
TDS on GSB or any material supplied at site, including transportation cost, loading, unloading or any other costs.
Exchange is not a lighter category — do not net the two legs. Whether you call it exchange, part-exchange, sale-cum-buy-back or barter, it is two independent supplies, each taxed on its own value — never one supply on the balancing figure.
GSTN has released two sets of FAQs (01.07.2026) for system readiness ahead of major e-Way Bill changes going live on 1 August 2026.
CCFS-2026, notified vide MCA General Circular No. 01/2026 dated 24.02.2026, is a one-time window to file overdue annual returns, financial statements and specified e-forms at substantially concessional additional fees.
Notification dated 30.06.2026 under Section 112(1) read with Section 112(3) of the CGST Act, 2017.
For FY 2025-26, the taxpayer amendment window is 01 July to 31 July 2026 (earlier available in May, per the advisory dated 02.05.2022 applicable up to FY 2024-25).
RBI withdraws 732 A.P. (DIR Series) circulars vide A.P. (DIR Series) Circular No. 18 dated 24.06.2026, and extension of the FLA Return due date to 15 July 2026.
MCA has granted relaxation in payment of additional fees for delay in filing Form DPT-3.
ICAI launches the PRB web portal: the peer review process goes fully digital.
Client advisory note on the new wage definition from an ESIC perspective. Every employer must re-check compliance in light of this change of definition and reference.
Client advisory note on GST liability under the reverse charge mechanism when a registered tenant takes commercial premises on rent from an unregistered landlord.
A practical checklist of the documents and statements to keep ready before filing your income-tax return.
An overview of the routine annual filings that companies must complete with the Registrar of Companies.
What to keep ready before a statutory audit so the process is smooth and well supported.
A simplified specimen engagement letter to adapt to the scope and terms of a specific assignment.
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Last updated 10 August 2026
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