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Dear Reader,
Greetings for the day!!!
We are pleased to share the recent Tax notification and circulars.
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Direct Tax
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Excel Utility of ITR-7 for AY 2026-27 now available for filing.
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Excel Utility of ITR-5 for AY 2026-27 now available for filing.
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CBDT authorises DGIT to upload information received from Automatic Exchange of Information (AEOI) in AIS/26AS (new 168). Taxpayers will see foreign bank, investments & income details, facilitating accurate reporting of foreign income & assets in ITR.
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CBDT issues FAQs on transition provisions u/s 536 of ITA 25 relating to pending proceedings under the ITA 61.
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CBDT recognizes "Indian Institute for Human Settlements (IIHS)" (PAN: AACCI0088F), as Social Science or Statistical Research u/s 45(3)(a)(ii) of ITA 25 from TY 2026-27 to TY 2030-31, subject to conditions.
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CBDT notifies Telangana Pollution Control Board u/s 11 of ITA 25, w.e.f TY 2026-27, subject to conditions.
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CBDT notifies Core Settlement Guarantee Fund set up by NCCL for exemption u/s 11 of ITA 25 w.e.f TY 2026-27, subject to conditions.
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Goods And Services Tax
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GSTAT Clarifies Position on English Translation Requirement under Rule 23(1)
The GST Appellate Tribunal (GSTAT) has clarified that, under Rule 23(1) of the GSTAT (Procedure) Rules, 2025, appeals filed against departmental orders issued in Hindi or any regional language must be accompanied by a certified English translation. The Tribunal stated that it lacks the authority to amend this statutory requirement but has granted temporary relief by accepting Hindi orders without immediate translation for an initial six-month period where the Bench Members are proficient in Hindi. GSTAT also informed that a committee is examining representations seeking amendments to permit greater use of Hindi and other vernacular languages in Tribunal proceedings.
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GSTAT Provides Significant Relief for Taxpayers & Professionals Filing Appeals for Past Periods
The GST Appellate Tribunal (GSTAT), vide Order No. 156/2026 dated 10 July 2026, has introduced a token generation mechanism to facilitate timely filing of appeals under Section 112 of the CGST Act, 2017. Taxpayers facing technical or portal-related difficulties may generate a token on or before 31 July 2026 by submitting basic appeal details through the GSTAT e-filing portal. A token generated within the prescribed timeline will be treated as sufficient compliance with the statutory filing deadline, provided the complete appeal is filed within 60 days from the date of token generation. Separate tokens are required for each appeal, and tokens generated with incomplete or incorrect particulars may be treated as invalid.
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