Latest Updates

1. CBDT notifies Rule 8AC for STCG, WDV computation u/s 50 involving goodwill depreciation.

2. Central Board of Direct Taxes has extended the time for processing refunds in non-scrutiny cases for the assessment year 2017-18 up to September 30.

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3. Recovery Order of ITC due to mismatch in Form GSTR-3B and GSTR-2A stayed

The Hon’ble Chhattisgarh High Court, in the case of Bharat Aluminium Company Ltd vs. Union of India Ors. [WPT No. 94 of 2021 decided on June 24, 2021] has granted a stay on Recovery Order passed by the Revenue Department, denying Input Tax Credit (“ITC”) to the Company due to mismatch in two return forms i.e. Form GSTR-2A and Form GSTR-3B, on a condition of deposit of 5% of the demand by the Company.

15CA/CB – Manual Filing Extended till July 15th

4. The Certificate of Tax Deducted at Source in Form No.16, required to be furnished to the employee by 15th June 2021 may be furnished on or before 31st July 2021.