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Newsletter no. 81 dated 02.05.2023
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This website contains information about recent changes mainly in GST laws. It also contains Articles on various topic in GST. Please visit the website and read more.
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Index
- Recent updates
- GST in Media
- Income Tax in Media
- Article
- Press Release
- GST Notes
- Book by CMA Anil Sharma
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GSTN Advisory no. 666 dated 01.07.2026
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It is informed that the Aggregate Annual Turnover (AATO) functionality is currently being upgraded to enable automatic updation of AATO as subsequent returns are filed post amendment window. As this enhanced functionality is being deployed from 1st July 2026, the window for amendment of AATO by taxpayers for FY 2025-26 has been revised on the GST Portal.
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GSTN had earlier issued an advisory dated 02 May 2022 regarding the functionality for amendment of Aggregate Annual Turnover (AATO) on the GST Portal, which was applicable for AATO till FY 2024-25. Under the said advisory, taxpayers were provided the facility to amend their turnover during the month of May.
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In continuation thereof, it is informed that the timelines for submission of amendment applications and verification of amended AATO details by Tax Officers, in respect of FY 2025-26, have been revised.
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To ensure greater consistency, accuracy, and uniformity in the reporting of AATO across various modules of the GST Portal, certain system-level enhancements are being implemented. Consequently, the revised timelines for amendment of AATO for FY 2025-26 by the taxpayers and subsequent action by the tax officers are as under:
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AATO Amendment Application window for FY 2025-26
01 July to 31 July 2026
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Review by jurisdictional Tax officer
01 Aug to 15 Aug 2026
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Accordingly, the facility for amendment of AATO, which was earlier available during May as per the previous advisory, shall now be made available from 01 July to 31 July 2026 for FY 2025-26. The amended AATO details will be available for review of Tax Officers from 01 Aug to 15 Aug.
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All taxpayers are requested to take note of the revised timelines and carefully review the AATO details while submitting the amendment application and ensuring that the amended details are accurate before submission.
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In case of any difficulty or concern, taxpayers are advised to raise a grievance through the Self-Service Portal available on the GST Portal, along with all relevant details, to facilitate prompt and effective resolution.
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GSTN Advisory no. 665 dated 01.07.2026
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Gross and Net GST revenue collections for the month of June, 2026
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Complete CGST, IGST, and Compensation Cess Acts & All Rules and GSTAT Rules
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- Tracking of Notifications, Circulars and Orders, and
- Content Links through Bookmarks
by Adv. (CA) Rakesh Garg & Sandeep Garg, CMA, FCA
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GSTN is taking downtime to enhance its services on the GST Portal on 27.06.2026 from 12:00 AM onwards until 2:30 am of 27.06.2026.
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We shall be enhancing services on the GST portal on : 27th June’26 12:00 AM onwards. GST Portal services will not be available until 27th June’26 02:30 AM. The inconvenience caused is regretted.
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GSTN is taking downtime to enhance its services on the GST Portal on 12.06.2026 from 11:30 AM onwards until 7:30 am of 13.06.2026.
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We shall be enhancing services on the GST portal on : 12th June’26 11:30 PM onwards. GST Portal services will not be available until 13th June’26 07:30 AM. The inconvenience caused is regretted.
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The Institute of Chartered Accountants of India (ICAI) published Handbook on Finalisation of Accounts with GST Perspective in June, 2026.
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The Institute of Chartered Accountants of India (ICAI) published 4th Edition of "Handbook on Job Work under GST" in June, 2026
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Now that the income tax return filing time is here you can start the process by first preparing your tax return information and data. To submit your income tax return (ITR), you will need to use the e-filing ITR portal or the income tax utility. If you are trading in securities and futures and options (F&O) in the stock market, it's important to pay attention to the tax audit requirements.
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This article explains when stock market traders should conduct a tax audit and then file their ITR.
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Stock market trading income classification
Taxmann research says that typically intraday trading in the stock market, along with future and option trading, is considered income from speculative business unless you are a registered business that solely engages in stock market trading. If you are a registered business focused only on stock market trading, you will report this income as business income.
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This article is about those individuals who do not own any registered business, but are simply trading in the stock market, such as students and salaried Employees.
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According to Taxmann Research, any gains or losses from intra-day trading, classified as speculative transactions, are always subject to taxation under the income category: 'Profits and Gains from Business or Profession'.
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'Speculative transaction' means a transaction in which a contract for purchase or sale of any commodity including stock and shares is periodically or ultimately settled otherwise than through actual delivery or transfer of the commodity or scrips.
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The Income-tax Act classifies the business income into 'speculative' and 'non-speculative' categories. There are no separate provisions for computation and taxability of income from speculative business except for the provisions relating to set-off and carry forward of losses.
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Taxmann Research says the income from speculative business is computed in the same way as normal business and taxed at rates applicable to the individual taxpayer.
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However, any loss arising from speculative business is not allowed to be set off from any other income including income from non-speculative business. In other words, loss from speculative transactions can be set-off only against income from speculative transactions.
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Applicability of tax audit for stock market traders
According to Taxmann Research, for checking the applicability of tax audit in such cases, the turnover from intra-day trading first has to be computed.
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The computation of turnover is a very important factor as the applicability of tax audit is determined on the basis of turnover. In cases where total sales, turnover or gross receipt from the business during the previous year exceed Rs 1 crore, a tax audit is required.
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However, the raised threshold limit of Rs 10 crore shall be applicable if cash receipts and cash payments during the year do not exceed 5% of the total receipt or payment, as the case may be.
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In other words, if more than 95% of business transactions are done through banking channels, then tax audit is required only when the turnover exceeds Rs 10 crore.
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Taxmann Research points out that as intra-day trading in shares is done through banking channels, the tax audit in such cases shall generally be required only when the turnover exceeds Rs 10 crore.
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Computation of turnover
According to Taxmann Research, the Income-tax Act does not contain any provision or guidance for computation of turnover in the case of intra-day trading. However, the Guidance Note on Tax Audit issued by the ICAI prescribes the method of determining turnover in case of speculative transactions.
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A speculative transaction refers to a transaction in which a contract for purchase or sale of any commodity or securities, is periodically or ultimately settled otherwise than by actual delivery or transfer of commodity or scrips.
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Thus, in speculative transactions, there can be both positive and negative differences arising from the settlement of contracts. Each transaction resulting in a positive or negative difference is an independent transaction. In such transactions, though contract notes are issued for the full value of the purchased or sold asset, the entries in the books of account only contain the differences.
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Accordingly, the aggregate of both positive and negative differences is to be considered as the turnover.
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For example, Mr. X does the following intra-day trading of shares during the year:
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Computation of turnover from intra-day trading of shares (speculative transactions).
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In speculative transactions, the aggregate of both positive and negative differences (income and loss) is considered as the turnover. Thus, the turnover of Mr X shall be computed as follows:
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Securities Amount of gain or (loss)
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Set-off and Carry Forward of Losses
According to Taxmann Research, the losses from intra-day trading cannot be set off against income taxable under any other head, i.e., salaries, house property, capital gains and other sources.
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The losses from speculative business (i.e., loss from intra-day trading) can be set-off only against speculative profits (i.e., profit from intra-day trading). These losses cannot be set off against normal business profits, though both of them fall under the same heads of income: 'profits and gains of business or profession'. However, losses from a normal business can be adjusted against the profits of a speculative business.
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The unabsorbed loss can be carried forward for up to four Assessment Years. It can be set off only against the speculative business income in the subsequent years. It is important to note that you can carry forward the business loss, provided the ITR is filed on or before the due date.
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If such ITR is not filed within the prescribed due date, the right to carry forward and set-off is lost.
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Source: The Economic Times
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When the Goods and Services Tax (GST) was implemented on July 1, 2017, one of its central promises was to eliminate tax cascading and allow seamless flow of input tax credit (ITC) across the value chain.
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Nearly a decade later, GST has largely succeeded in replacing multiple indirect taxes with a unified system. But one part of the reform continues to generate friction for businesses: input tax credit.
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Today, ITC has become one of the biggest sources of litigation, working-capital blockage and compliance anxiety under GST. What was designed as a pass-through mechanism has evolved into a compliance-driven process where access to credit depends not only on a company’s own actions, but also on supplier behaviour, invoice matching and portal-based validations.
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From seamless credit to conditional credit
Experts say GST succeeded in reducing embedded taxation but the architecture of claiming credit has changed significantly.
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Swaroop Repaka, head of product at ClearTax, told Business Standard that the original design worked on a different principle. “The original promise of input tax credit (ITC) was simple and powerful: kill the cascading of tax and let credit flow seamlessly across the chain. On the first count, GST has genuinely delivered; the embedded-tax problem of the old VAT + service tax + excise era is largely gone.”
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However, he said, the ITC mechanism has quietly changed character. "We've moved from a self-assessed, trust-based model to a verification-based, supplier-dependent one," he said.
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Over time, requirements such as invoice matching, GSTR-2B reconciliation, restrictions under Rule 36(4), Section 16(2)(aa), and now the Invoice Management System (IMS) have made credit eligibility more tightly linked to compliance data.
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Nitin Vijaivergia, partner at Price Waterhouse & Co LLP, told Business Standard, “GST was envisioned as a seamless credit-based tax, eliminating cascading and taxing only value addition. While it has largely delivered on these objectives, the architecture of input tax credit has evolved from a seamless tax mechanism into a conditional entitlement.”
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“Today, input tax credit is available not merely because tax has been paid, but only when every link in the compliance chain performs flawlessly," he said.
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Why input tax credit has become a business risk
For businesses, delayed or denied credit directly affects cash flows. Under the current system, companies may have purchased goods, paid suppliers and fulfilled their obligations, but still face delays if supplier filings do not reflect correctly.
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Maulik Manakiwala, partner - indirect tax, tax & regulatory advisory at BDO India, said: “One of the key challenges is the dependence on GSTR-2B for availing ITC. In cases where suppliers fail to furnish their GSTR-1 within the prescribed time, the corresponding ITC does not reflect in the recipient's GSTR-2B.”
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This creates “blockage of working capital and delays in credit utilisation”, he told Business Standard.
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Experts say the debate has gradually shifted from availability of credit to certainty of credit -- a distinction that increasingly influences business decisions and investment planning. Ashish Kumar, head of compliance at supply chain finance platform Vayana, told Business Standard, “Bigger companies have folded this straight into their vendor scorecards. And it's pretty common now for buyers to hold back the GST portion of a payment until the credit actually shows up in their GSTR-2B -- basically tying payment to compliance.”
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Working-capital pressure and rising disputes
Businesses say supplier defaults are now among the biggest reasons for credit loss or delay.
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Manakiwala said, “Companies today often lose, delay, or reverse input tax credit (ITC) mainly due to supplier not filing GST returns or paying tax; invoice mismatch or non-reflection in GSTR 2B; missing time limits or delayed claims; and inverted duty structure (higher tax on inputs than outputs).”
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Sectors with long supply chains or refund dependence are particularly exposed.
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Vijaivergia said that supplier-side compliance defaults frequently disrupt the flow of input tax credit. He further said inverted duty structures continue creating working-capital stress in sectors such as FMCG, textiles, footwear, fertilisers and renewable energy.
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Ranjeet Mahtani, partner at tax and regulatory advisory firm Dhruva Advisors, told Business Standard that construction remains particularly vulnerable because project revenues arrive over longer cycles while input costs arise upfront.
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What businesses want from GST’s next phase
Tax experts argue that the next stage of GST reform may not be about introducing new rules but reducing procedural friction.
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Businesses want greater certainty that genuine credit will not be denied because of supplier defaults outside their control. Simpler reconciliation processes, clearer buyer protections, faster refunds and easier correction mechanisms remain among the key demands.
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Repaka said the system has been optimised for revenue protection and the next phase should focus on restoring ease of doing business.
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Source: Business Standard
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In a dramatic twist, the Central Bureau of Investigation (CBI) on Tuesday arrested senior IAS officer Pardeep Kumar on the very day he retired, tightening its grip on the massive Rs 593-crore Haryana government funds scam.
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Kumar, the former Member Secretary of the Haryana State Pollution Control Board (HSPCB), is the third IAS officer to be arrested in the case, according to a report of the Times of India. Investigators claim they have uncovered a direct link between him and the alleged siphoning of Rs 169 crore from HSPCB accounts maintained at IDFC First Bank's Sector 32 branch in Chandigarh.
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The Rs 169-crore loss is being described by the CBI as the biggest financial hit suffered by any department caught in the wider scam.
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According to the agency, Kumar had been evading investigators for nearly a week and had also sought anticipatory bail from a CBI court. Officials alleged that despite multiple notices, he failed to join the probe. He was eventually tracked down and taken into custody after CBI teams located him.
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The agency has already arrested two other IAS officers — Ram Kumar Singh and Pankaj Agarwal — in connection with the case.
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How the Alleged Fraud Worked
The HSPCB case is part of a much larger alleged banking fraud spanning eight Haryana government departments.
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Investigators claim public money was diverted through fake or non-existent fixed deposits and suspicious banking transactions before being routed through shell companies.
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The CBI alleges Kumar personally oversaw the investment process and facilitated the transfer of pollution board funds to the Chandigarh branch of the bank, allegedly exceeding prescribed limits for fixed deposits.
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The probe found that government funds were first moved into a bank account that allegedly lacked documented departmental approval. Officials said the pollution board could not produce records explaining how the account was opened.
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What investigators found next raised even more questions.
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According to the CBI, the promised fixed deposits were never created. Instead, funds were allegedly drained through fraudulent debit transactions, resulting in a net loss of Rs 169 crore to the state exchequer.
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22 arrested so far
With Kumar's arrest, the total number of arrests in the wider scam has risen to 22.
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The CBI has already filed charge sheets against 17 accused, including six officials from IDFC First Bank and AU Small Finance Bank, three Haryana government officials, two companies, and six private individuals.
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The agency is also probing related cases involving Chandigarh Smart City Limited (CSCL) and CREST, where charge sheets have already been filed.
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In another major development, the CBI arrested two former bank officials linked to the Rs 593-crore fraud.
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A special CBI court in Panchkula remanded Charanjeet Singh Randhawa, former branch head of AU Small Finance Bank, and Mohammad Shamim Dhar, former team head of IDFC First Bank's Government Business Group, to three days of CBI custody.
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Investigators are continuing to trace the money trail and identify all those involved in what is emerging as one of Haryana's biggest alleged government fund scams.
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Source: The Economic Times
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CBIC -
To commemorate nine years of the Goods and Services Tax (GST), the Central Board of Indirect Taxes and Customs (CBIC) organized a special celebration at CSOI, New Delhi, on 1 July 2026. The event was held under the theme, ‘सुगम कर व्यवस्था, सशक्त भारत’, highlighting GST's
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GST Indore -
The 9th #GSTDay was celebrated with great enthusiasm at CGST & Central Excise Commissionerate, Indore under the theme "सुगम कर व्यवस्था, सशक्त भारत".
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GST Samvad an interaction among officers, taxpayers, trade & industry representatives, and tax professionals was organised on 30.06.2026 to commemorate nine years of GST as a transformative reform. The programme highlighted taxpayer facilitation initiatives, digital services, policy updates, and the importance of timely and voluntary compliance.
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9 Years of GST! The CGST Indore Commissionerate celebrated the 9th anniversary of the Goods and Services Tax. The event marked nearly a decade of economic transformation and a unified national market.
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Recognizing Excellence: The Department felicitated leading revenue contributors-Bharat Petroleum( @BPCLimited), HDFC Limited(@HDFCLTD), and MRF Limited(@MRF_Corporate)-for their exemplary tax compliance.10 dedicated departmental officers and a meritorious student were also honored
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Taxpayer First: CGST Indore Commissioner Shri Peeyoush Bhati highlighted GST’s role in nation-building and announced that the Commissionerate will now regularly host monthly meetings with taxpayers to address grievances and ensure a transparent, efficient regime.
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GST Aurangabad Commissionerate -
CGST AURANGABAD building lit up to kick in early 9th GST day celebrations
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CGST Mumbai West -
As part of the #GSTPakhwada on occasion of upcoming 9th GST Day, on this year’s theme "सुगम कर व्यवस्था, सशक्त भारत” (Easy Tax System, Empowered India), CGST Mumbai West Commissionerate organised an Essay Writing Competition for officers and staff.
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The winners and participants were felicitated by the Hon’ble Commissioner, CGST&C.Ex. Mumbai West appreciating their enthusiasm and insightful contributions.
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WIRC of The Institute of Cost Accountants of India
Celebrating one of India’s landmark tax reforms that strengthened transparency, unity and the vision of One Nation, One Tax, One Market.
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DGTPS MUMBAI CBIC
9वें GST दिवस के उपलक्ष्य में DGTS MZU & AZU द्वारा "Nine Years of GST: Perspective from Taxpayers" विषय पर Kendriya Vidyalayas के विद्यार्थियों हेतु एक वेबिनार आयोजित किया गया।
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इस सत्र के माध्यम से GST के प्रति जागरूकता, वित्तीय साक्षरता को बढ़ावा दिया गया तथा विद्यार्थियों को राष्ट्र निर्माण में कराधान की भूमिका से अवगत कराया गया।
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CGST Thane -
CGST Thane organized a 'Hindi & Marathi Essay Competition' for officers & staff
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The Commissioner honored winners with certificates for outstanding performance
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Celebrating language, awareness & commitment to GST
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CGST MUMBAI EAST
As part of the 9th GST Day celebrations, CGST & Central Excise, Mumbai East Commissionerate organised Essay Writing and Drawing Competitions for students of Sandesh Vidyalaya & Junior College, Vikhroli (East), on 30.06.2026, with enthusiastic participation from young students.
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The essay competition focused on GST and citizens’ responsibility towards tax compliance, while the drawing competition encouraged students to express ideas creatively. Prizes were awarded to winners, promoting taxation awareness and responsible citizenship among young minds.
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As part of the 9th Anniversary celebrations of GST, CGST & Central Excise, Mumbai East Commissionerate organised GST "SAMVAD" and interactive session with members of trade and tax professionals on 29 June 2026 at Vikhroli to mark the occasion with active participation.
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The session witnessed enthusiastic participation. Queries on filing of appeals, GST returns and other GST-related issues were addressed by officers, making it a valuable platform for knowledge sharing, constructive dialogue and promoting voluntary tax compliance across sectors.
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CGST & Customs Thiruvananthapuram Zone
On the occasion of International Day Against Drug Abuse & Illicit Trafficking, the officers and staff of CGST & Customs Thiruvananthapuram Zone took a solemn pledge under the #NashaMuktBharatAbhiyan to build a society free from the menace of drugs.
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DGTS AHMEDABAD CBIC
30.06.2026 को,DGTS AZU और MZU ने JG University के साथ मिलकर GST Awareness & Overview पर एक हाइब्रिड सेमिनार आयोजित किया।DGTS के Pr. ADG,श्री सुमित कुमार ने उद्घाटन भाषण दिया। CBIC के रिटायर्ड सुपरिटेंडेंट श्री जॉन क्रिश्चियन मुख्य वक्ता थे। #DGTS #GST #GSTDAY2026 #CBIC
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Article Writing Competition 2026
To commemorate 9th Year of GST, Online Tax Update (OTU) launched 'Article Writing Competition 2026'. Registration starts today 1st July 2026 and ends on 15th July 2026. Article submission till 31st July 2026 and Winner Announcement in August, 2026. Cash Award + Certificate of Participation. Participation fees Rs. 300/- Read more
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Centre has extended the last date for filing appeals before the Goods and Services Tax Appellate Tribunal (GSTAT) to July 31, 2026, giving taxpayers an additional month to submit their cases after a surge in filings led to technical difficulties on the GSTAT portal.
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The extension applies to appeals filed under Section 112(1) read with Section 112(3) of the Goods and Services Tax (GST) law.
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The revised deadline replaces the earlier cut-off of June 30, 2026, which had been notified by the government on September 17, 2025.
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The decision follows recent representations from various stakeholders who flagged technical issues arising from a rush of appeals being filed on the GSTAT portal ahead of the deadline.
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While noting that the original due date had been notified well in advance in September 2025, the government said filing activity had intensified sharply in recent weeks. It said 30,000 appeals were filed in the last 15 days alone, with daily filings touching a peak of 5,500 appeals.
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Advising against eleventh-hour filings, the government urged taxpayers to complete their appeal submissions well in advance to ease pressure on the GSTAT portal.
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The GST Appellate Tribunal serves as the first judicial appellate forum for taxpayers seeking to challenge orders issued by GST authorities after the disposal of their first appeals.
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Source: The Economic Times
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The Union government on Tuesday granted a six-month extension to the tenure of Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal till December 2026.
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The 1988 batch IRS officer was to retire on Tuesday(June 30).
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The Appointments Committee of the Cabinet (ACC) in an order on Tuesday said it has approved "re-appointment" of Ravi Agrawal as Chairman, CBDT on contract basis for a period of six months with effect from 01.07.2026 or until further orders, whichever is earlier, on the terms and conditions applicable to re-employed central government officers, in relaxation of the Recruitment Rules.
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He was made chief of CBDT, the policy-making body for the Income Tax Department, for a one-year term in June 2024. His tenure was extended by a year in June 2025.
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The CBDT is headed by a chairman and can have up to six members, who are equivalent to special secretary rank.
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Source: The Economic Times
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The Central Board of Indirect Taxes and Customs (CBIC) is drafting rules to operationalise Section 11A of the CGST Act, a provision that allows the government, on the GST Council's recommendation, to waive tax dues for an industry in exceptional cases, according to two government sources familiar with the matter.
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"We are in the process of framing rules. Once framed, the Council and the CBIC may invoke the provisions whenever required to grant relief to the industry from past unpaid GST liabilities," one of the people cited above said, requesting anonymity.
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Section 11A of the CGST Act gives the central government, on the recommendation of the GST Council, the power to waive off past GST liabilities of the industry for a particular period if it is satisfied that the non-payment or under-payment of taxes was due to a "generally prevalent trade practice".
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The clause was introduced through the Finance Act, 2024, following representations from the online gaming industry seeking relief from retrospective tax demands.
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Section 11A overrides all other standard recovery, demand, and penalty provisions in the GST law. To invoke this section, the GST Council must be satisfied that a specific non-payment occurred because of a widely accepted, prevalent trade practice across a sector, rather than deliberate evasion by an individual firm.
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'No relief planned for online gaming industry yet'
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The government sources said the GST Council may discuss using the provision to provide relief to the online gaming industry at its next meeting in July or August, though no final decision is expected. The sector faces tax demands exceeding Rs 1 lakh crore following a Supreme Court ruling last month.
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"A final call may not be taken in the next meeting," the second person said, also requesting anonymity.
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The Supreme Court on May 27 upheld the constitutional validity of the 28 percent GST levy on online gaming transactions, as well as the government’s retrospective imposition of the levy on the firms. The online gaming industry had appealed these notices in the court on legal and constitutional grounds even as they expressed their inability to pay these dues, since their revenues were far lower than the tax demands.
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"The Supreme Court has ruled on online gaming in favour of the government. Whether Section 11A could be considered by the GST Council? We don’t know yet. That provision does empower the government to waive tax demands retrospectively in certain situations," the second person said.
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"I understand concerns have been raised because some of the notices are larger than the companies’ worth. But at this stage, I can’t say Section 11A will be invoked specifically for the online gaming sector," the person added.
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Press release ID 2279424 dated 30.06.26
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The Government had earlier provided a full Customs Duty exemption on imports of critical petrochemical products till 30th June 2026, as a temporary and targeted relief in view of the conflict in West Asia and the consequent disruptions in global supply chains.
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The exemption was provided to ensure sufficient availability of petrochemicals in the domestic market as Indian petroleum companies had been asked to concentrate on the production of LPG during this period. As the situation is gradually normalizing, to ensure a smooth and non-disruptive transition for the affected sectors, it has been decided to extend the said exemption by a further period of 15 days, that is, till 15th July 2026.The list of products covered remains the same as notified earlier.
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The Government remains committed to supporting India's manufacturing sector. As before, the exemption is expected to benefit a wide range of sectors dependent on petrochemical feedstock and intermediates, including plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components and other manufacturing segments. This will also provide relief to consumers of final products.
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Link to previous press note issued:
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Press release ID 2279409 dated 30.06.2026
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In a major operation the officers of the Directorate of Revenue Intelligence (DRI) successfully dismantled a trans-border gold smuggling syndicate and seized 15 kg foreign-origin smuggled gold, valued at approximately Rs. 21.40 crore, operating from Delhi.
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DRI officers intercepted an international courier consignment originating from Thailand at Courier Terminal, Delhi. The consignment was in the name of a firm linked to a foreign national.
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A meticulous examination of the consignment declared as "worn gear", led to the recovery of eight disc-shaped pieces of foreign-origin gold, each weighing 1.5 kg, ingeniously concealed inside gear parts. In total, 12 kg smuggled foreign-origin gold was recovered from the courier consignment.
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Simultaneous searches conducted at the residence of the intended recipient and the alleged mastermind resulted in the recovery of two more identical disc-shaped pieces of foreign-origin gold, each weighing 1.5 kg.
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Four persons, including the mastermind, who is a repeat offender, and a foreign national have been arrested in relation with the case.
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Preliminary investigations also reveal that crypto-currency was being used to transfer the money across borders to finance the smuggling.
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Source: Press release id 2279274 dated 30.06.26
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The government has extended the due date for filing of appeal before the Goods and Services Tax Appellate Tribunal (GSTAT) under section 112(1) read with section 112(3) to 31.07.2026.
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The government has extended the due date in view of the recent representation from various stakeholders , highlighting technical difficulties due to rush to file appeals on the GSTAT portal. It is to be noted that in the last 15 days alone, 30,000 appeals were filed, with daily volumes peaking at 5,500 appeals.
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Taxpayers are advised to plan their appeal filings well in advance and not wait until the deadline.
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6. GST Notes by CMA Anil Sharma
1) Shri CMA Anil Sharma, Shri CMA Gurdev Singh Saini and Smt. CMA Bhawna Sharma posted Chapter-15 containing CGST Act in simple language in PPT format. This is to make dealers, professionals, academicians, students etc. understand the basics of GST laws. Each Chapter in CGST Act, 2017 is explained in the form of Slides as given below for easy understanding of the Act:
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Chapter-15 slides given below:-
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7) Book by CMA Anil Sharma
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Book by CMA Anil Sharma, B.Com (Honrs), M.Com, FCMA co-author of the book "Handbook on GST Audit by Tax Authorities" has authored yet another book title Goods & Service Tax – Some Perceptions and Reflections. Buy now at Price Rs. 240- (Rs.300/- minus 20% Discount).
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