Latest update 03.08.2024

A. Amendment

Sr. no.CategorySubjectIn briefIn detail / Reference
1DGFTDGFT Trade Notice 11/2024-25 dt 02.08.2024DGFT issued Trade Notice No. 11/2024-25 on 02.08.2024 regarding harmonisation of Chapters 40 to 98 of Schedule-II (Export Policy) to ITC(HS) codes.click here to read more

B. Update

Sr. noCategorySubjectIn briefIn detail / Reference
1GST PortalAdvisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Jammu & Kashmir and West BengalThis is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.click here to read more
2GST PortalAdvisory in respect of Changes in GSTR 8GSTN team is working on the changes announced by GST Council in respect of GSTR 8, is expected to be complete in next couple of daysclick here to read more
3GST PortalGST Portal downtime 03.08.24GST Portal services will not be available until 3rd Aug’24 07:00 AMclick here to read more
4Income taxRecord 7.28 crore ITRs filed for AY 2024-25 till 31st July, 2024The taxpayers and tax professionals made their compliances in time, leading to a surge in filing of Income-tax Returns (ITRs), which resulted in a new record of ITRs filed till 31st July 2024.click here to read more

C. GST Notes

Sr. no.SubjectIn briefAuthored byIn detail / Reference
1GSTLawgics – Judgment No. 165
Section 35(3) prohibits proceedings under Section 130 for alleged excess stock found during the survey. Proceedings should have been initiated under Section 73 & 74 for excess stock.
Adv. Nidhi Aggarwalclick here to read more

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