Newsletter V10 Oct 2023

COMPLIANCE NEWSLETTER
Volume 10 (Period October 2023)
Key Highlights
Income Tax & Updates

MCA Updates
GST Updates
Compliance calendar for October 2023
©️ Fintaxpro Advisory LLP

info@fintaxpro.in
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ABOUT NEWSLETTER
This Compliance Newsletter had been prepared by the Fintaxpro Advisory LLP. The objective of this Compliance
Newsletter is to provide monthly updates related to Finance, Taxation, Accounts, ROC and related compliances.
Edition – Volume 10
Period – October, 2023
Website – www.fintaxpro.in
Price – 99
Published by – FinTaxPro Advisory LLP
Permission of FinTaxPro Advisory LLP is required to reproduction of any portion of this newsletter.
©️FINTAXPRO ADVISORY LLP
ABOUT FINTAXPRO
FinTaxPro Advisory LLP is consultancy and advisory firm provide expert opinion in Direct Taxation, Indirect Taxation,
IFRS, Risk Management. FinTaxPro also provide Utilities & ERP software. FinTaxPro has present across PAN India.
FinTaxPro has client base of more than 1000 companies and individuals.
The firm approach is to provide value added services to client. Our differentiation is derived from a rapid performance
based, industry tailored and technology enabled business advisor’s services delivered by talented professionals in the
country.
DISCLAIMER
Although all provisions, notifications & updates are analysed in-depth by our team before publishing in this newsletter.
We hereby provide our point of view only and tax matters are always subject to frequent changes hence, this
newsletter is only for the benefit of readers. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable
for any consequence that arises on the basis of this compliance newsletter. This newsletter shall not be treated as any
professional advice.
NEWSLETTER | Volume 10 (Period October 2023)

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Preface
After posting more than 500+ informative videos and 10+ Practical Courses we are very much excited to launch this
very first edition of FinTaxPro Compliance Newsletter. This monthly newsletter will cover updates related to Income
Tax, GST, MCA, Labour Law along with compliance calendar for the month of October. Initially we prepare a
compliance calendar for our internal team, but many taxpayers asked to provide a newsletter. Considering the
requests here is the first newsletter.
The objective of this Compliance Newsletter is to provide monthly updates related to Finance, Taxation, Accounts,
ROC and related compliances.
In the constantly changing field of Taxation & Finance, it is my mission to create complete online and tax friendly
ecosystem for various stakeholders. I am very much passionate about TaxTech, FinTech & EdTech.
“We can see future by introspecting our present”
Warm Regards,
Team FinTaxPro

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CONTENTS
Compliance Calendar .......................................................................................................................................................................... 5

Income Tax Updates ........................................................................................................................................................................... 9
Notifications ................................................................................................................................................................................... 9
OTHER UPDATE IN INCOME TAX .................................................................................................................................................. 10
SPECIAL UPDATE :-TDS CREDIT- Carry Forward, Brought Forward TDS, Unclaimed TDS, Form 71 and Sec 155(20) ................... 13
SEC 199 READ WITH RULE 37BA – CREDIT OF TDS ................................................................................................................... 13
IN THE ABOVE EXAMPLE WHAT IS THE PROCEDURE FINTAXPRO ADVISORY LLP NEED TO OPT TO CLAIM TDS IN FY 2023-24.
.................................................................................................................................................................................................. 14
CAN WE BROUGHT FORWARD TDS CREDIT WITHOUT CARRY FORWARD? ............................................................................. 14
IN THE ABOVE EXAMPLE CAN WE CARRY FORWARD TO TDS IN UPDATED RETURN ITR U? .................................................... 15
SPECIAL CASE WHERE UNCLAIMED TDS OF PREVIOUS YEAR CAN BE CLAIM IN CURRENT YEAR ............................................. 15
Customs Updates .............................................................................................................................................................................. 16
Central Excise Updates ..................................................................................................................................................................... 18
GST Updates ...................................................................................................................................................................................... 18
GST Advisory issued by gstin ........................................................................................................................................................ 18
1. Advisory: Time limit for Reporting Invoices on the IRP Portal ............................................................................................. 18
1.It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-
invoice IRP portals for taxpayers with AATO greater than 100 crores. .................................................................................... 19
2.To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 30 days on the
date of reporting. ..................................................................................................................................................................... 19
3. Please note that this restriction will apply to the all-document types (Invoices/Credit note/Debit note) for which IRN is to
be generated. ........................................................................................................................................................................... 19
4.For example, if an invoice has a date of November 1, 2023, it cannot be reported after November 30, 2023. The
validation built into the invoice registration portals will disallow the user from reporting the invoice after the 30 days
window. Hence, it is essential for taxpayers to ensure that they report the invoice within the 30 days window provided by
the new time limit. ................................................................................................................................................................... 19
5.It is further to clarify that there will be no such reporting restriction on taxpayers with AATO less than 100 crores, as of
now........................................................................................................................................................................................... 19
6.In order to provide sufficient time for taxpayers to comply with this requirement, which may require changes to your
systems, it is proposed to implement it from 1st November 2023 onwards. .......................................................................... 19
2. Advisory: Geocoding Functionality for the Additional Place of Business ............................................................................. 19
3. Advisory: Temporary /Short Period Pause in e-Invoice Auto Population into GSTR-1......................................................... 19
4. Advisory: e-Invoice JSON download functionality Live on the GST e-Invoice Portal ............................................................ 20
GST Notifications [CENTRAL TAX] ................................................................................................................................................. 21
GST Notifications [Integrated Tax] ............................................................................................................................................... 22
GST Notifications [Union Territory Tax]........................................................................................................................................ 22
OTHER Updates IN GST ................................................................................................................................................................. 22
IMPORTANT UPDATE IN GST: - ALL CHANGES TO BE IMPLEMENTED IN GST W.E.F 1ST OCT 2023 ............................................. 33
NN 28/2023 CHANGE W.E.F 1ST OCT 2023 .............................................................................................................................. 33
1. ALLOWING PERSON REGISTERED UNDER COMPOSITION SCHEME TO SELL GOODS THROUGH E‐COMMERCE OPERATOR 34

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2. ALIGNMENT OF ITC PROVISIONS IN ACT AS WAS AMENDED BY NN 26/2022 –CT DT. 26TH DECEMBER 2022................... 34
3. INCLUSION OF SUPPLY OF UNCLEARED WAREHOUSED FOR HOME CONSUMPTION GOODS FOR REVERSAL OF GST AND
BLOCKING OF ITC WHERE THE EXPENDITURE INCURRED IS ON ACCOUNT OF CSR. ................................................................ 34
4. SUBSTITUTION OF SECTION 23 – “PERSONS NOT LIABLE FOR REGISTRATION”, WITH NEW PROVISION. ........................... 34
5. RESTRICTION ON FURNISHING DETAILS OF OUTWARD SUPPLIES AFTER EXPIRY OF SPECIFIED TIME PERIOD .................... 35
6. RESTRICTION ON FURNISHING DETAILS OF OUTWARD SUPPLIES AFTER EXPIRY OF SPECIFIED TIME PERIOD .................... 35
7. RESTRICTION ON FURNISHING RETURN FOR A TAX PERIOD AFTER EXPIRY OF SPECIFIED TIME PERIOD ............................ 35
8. RESTRICTION ON FURNISHING ANNUAL RETURN FOR A FINANCIAL YEAR AFTER EXPIRY OF SPECIFIED TIME PERIOD ...... 35
9. RESTRICTION ON FURNISHING GSTR 8 FOR A MONTH AFTER EXPIRY OF SPECIFIED TIME PERIOD .................................... 36
10. REMOVAL OF PROVISIONAL ITC CLAUSE IN REFUND PROVISIONS .................................................................................... 36
11. SPECIFYING THE DELAY PERIOD FOR PAYMENT OF INTEREST IN DELAYED REFUND CASES .............................................. 36
12. ASSESSMENT OF NON FILER OF RETURN- .......................................................................................................................... 36
13. INTRODUCTION OF PENAL PROVISIONS IN CASE OF CONTRAVENTION OF LAW BY E‐COMMERCE OPERATORS. ............ 37
14. DECRIMINALIZATION OF CERTAIN OFFENCES UNDER GST LAW. ....................................................................................... 37
15. ALIGNMENT OF COMPOUNDING PROVISIONS IN LINE WITH CHANGES MADE IN ‘PUNISHMENT FOR CERTAIN OFFENCES’
AND REDUCE THE COMPOUNDING AMOUNT FROM THE PRESENT RANGE OF 50 TO 150 PER CENT OF TAX AMOUNT TO THE
RANGE OF 25 TO 100 PER CENT ............................................................................................................................................... 37
16. INSERTION OF NEW SECTION 158A IN THE CGST ACT, 2017 – SHARING OF INFORMATION ............................................. 37
17. RETROSPECTIVE EXEMPTION TO CERTAIN ACTIVITIES AND TRANSACTIONS IN SCHEDULE III TO THE CENTRAL GOODS
AND SERVICES TAX ACT. ........................................................................................................................................................... 37
18. REVISION IN THE DEFINITION OF NON‐TAXABLE ONLINE RECIPIENT & OIDAR SERVICES. ................................................ 38
19. OMISSION OF SECTION 12(8) OF THE IGST ACT, 2017 ....................................................................................................... 38
20. OMISSION OF SEC 13(9) OF IGST ACT................................................................................................................................. 38
MCA Updates .................................................................................................................................................................................... 39
MCA-Quotations & Tenders ......................................................................................................................................................... 40
YouTube Updates .............................................................................................................................................................................. 41
Other Updates .................................................................................................................................................................................. 41
About FinTaxPro................................................................................................................................................................................ 45
FinTaxPro Courses- ....................................................................................................................................................................... 46
Services & Consultancy ................................................................................................................................................................. 46
Contact us ..................................................................................................................................................................................... 46
FinTaxPro Social Network ............................................................................................................................................................. 46

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COMPLIANCE CALENDAR
Starting, owning, or operating a business in India entails significant compliance that all businesses, regardless
of structure, must adhere to during a financial year. Statutory compliance is an essential part of running a
business. So, here is a Compliance Calendar for the month of October 2023 covering all of the important due
dates for Income Tax Return Filing, GST Return Filing, and TDS Payments.
Due date Form to be Period Who should file?

filed
10.10.2023 GSTR 7 Sept-23 GSTR 7 is a return to be filed by the persons who is required
to deduct TDS (Tax deducted at source) under GST.
10.10.2023 GSTR 8 Sept-23 GSTR-8 is a return to be filed by the e-commerce operators

who are required to deduct TCS (Tax collected at source)
under GST.
11.10.2023 GSTR 1 Sept-23 Taxpayers having an aggregate turnover of more than INR 5
Crores or opted to file Monthly Return.
13.10.2023 GSTR 6 Sept-23 Input Service Distributors

20.10.2023 GSTR 5 & 5A Sept-23 Non-Resident Taxpayers and ODIAR services provider.
20.10.2023 GSTR 3B Sept-23 The due date for GSTR-3B having an Annual Turnover of more
than 5 Crores.
Goods & Service Tax
22.10.2023 GSTR 3B Sept-23 The due date for GSTR-3B having an Annual Turnover of up to
5 Crores for following states (Chhattisgarh, Madhya Pradesh,
Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu,
Telangana, Andhra Pradesh, the Union territories of Daman
and Diu and Dadra and Nagar Haveli, Puducherry, Andaman
and Nicobar Islands or Lakshadweep).
24.10.2023 GSTR 3B Sept-23 The due date for GSTR-3B having an Annual Turnover of up to
5 Crores for the states/UTs other than those mentioned
above.
28.10.2023 GSTR-11 Sept-23 UIN holders
25.10.2023 PMT 06 Sept-23 GST Challan Payment for September Month.
10.10.2023 Professional Sept-23 Professional Tax (PT) on Salaries for September 2023.
Tax (*Professional Tax Due Date Varies from State to State).
07.10.2023 Due date for Sept-23 Due date for deposit of tax deducted/collected for the month
deposit of tax of September, 2023. However, all sum deducted/collected by
deducted/coll an office of the government shall be paid to the credit of the
ected Central Government on the same day where tax is paid
without production of an Income-tax Challan

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07.10.2023 Due date for July 2023 to Due date for deposit of TDS for the period July 2023 to
deposit of TDS September September 2023 when Assessing Officer has permitted
2023 quarterly deposit of TDS under section 192, 194A, 194D or
194H
15.10.2023 Form 24G Sept- 2023 Due date for furnishing of Form 24G by an office of the
Government where TDS/TCS for the month of September,
2023 has been paid without the production of a challan
15.10.2023 Section 194-IB Aug-23 Due date for issue of TDS Certificate for tax deducted under
section 194-IB in the month of August, 2023
15.10.2023 Section 194-IA Aug-23 Due date for issue of TDS Certificate for tax deducted under
section 194-IA in the month of August, 2023
15.10.2023 Section 194M Aug-23 Due date for issue of TDS Certificate for tax deducted under
section 194M in the month of August, 2023
15.10.2023 Section 194S Aug-23 Due date for issue of TDS Certificate for tax deducted under
section 194S in the month of August, 2023
Note: Applicable in case of specified person as mentioned
under section 194S
15.10.2023 TCS deposited July to Sept Quarterly statement of TCS deposited for the quarter ending
-23 September 30, 2023
15.10.2023 Form No. July to Sept Upload declarations received from recipients in Form No.
15G/15H -23 15G/15H during the quarter ending September, 2023
15.10.2023 Form no. 3BB Sept-23 Due date for furnishing statement in Form no. 3BB by a stock
exchange in respect of transactions in which client codes been
modified after registering in the system for the month of
September, 2023
15.10.2023 Quarterly TCS Apr to Jun- Quarterly TCS certificate in respect of tax collected by any
certificate 23 person for the quarter ending June 30, 2023
Note: Due to extension of due date of TCS statement vide
Circular no. 9/2023, dated 28-06-2023, the revised due date
for furnishing TCS certificate shall be October 15, 2023
15.10.2023 Quarterly TDS Apr to Jun- Quarterly TDS certificate (in respect of tax deducted for
certificate 23 payments other than salary) for the quarter ending June 30,
2023
Note: Due to extension of due date of TDS statement vide
Circular no. 9/2023, dated 28-06-2023, the revised due date
for furnishing TDS certificate shall be October 15, 2023
30.10.2023 Section 194-IA Sept-23 Due date for furnishing of challan-cum-statement in respect
of tax deducted under section 194-IA in the month of
September, 2023
30.10.2023 Section 194-IB Sept-23 Due date for furnishing of challan-cum-statement in respect
of tax deducted under section 194-IB in the month of
September, 2023
30.10.2023 Section 194M Sept-23 Due date for furnishing of challan-cum-statement in respect
of tax deducted under section 194M in the month of
September, 2023

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30.10.2023 Section 194S Sept-23 Due date for furnishing of challan-cum-statement in respect
of tax deducted under section 194S in the month of
September, 2023
Note: Applicable in case of specified person as mentioned
under section 194S
30.10.2023 Quarterly TCS Jul to sept- Quarterly TCS certificate (in respect of tax collected by any
certificate 23 person) for the quarter ending September 30, 2023
31.10.2023 Form no. F.Y. 2022- Intimation by a designated constituent entity, resident in
3CEAB 23 India, of an international group in Form no. 3CEAB for the
accounting year 2022-23
31.10.2023 Quarterly Jul to Sept- Quarterly statement of TDS deposited for the quarter ending
statement of 23 September, 2023
TDS deposited
31.10.2023 Section F.Y. 2022- Due date for furnishing of Annual audited accounts for each
35(2AA) 23 approved programmes under section 35(2AA)
31.10.2023 Quarterly Jul to Sept- Quarterly return of non-deduction of tax at source by a
return of non- 23 banking company from interest on time deposit in respect of
deduction of the quarter ending September, 2023
tax at source
31.10.2023 Form No. 60 Apr to Sept- Copies of declaration received in Form No. 60 during April 1,
23 2023 to September 30, 2023 to the concerned Director/Joint
Director
31.10.2023 Due date for A.Y 2023- Due date for filing of return of income for the assessment
filing of return 24 year 2023-24 if the assessee (not having any international or
of income specified domestic transaction) is (a) corporate-assessee or
(b) non-corporate assessee (whose books of account are
required to be audited) or (c)partner of a firm whose
accounts are required to be audited or the spouse of such
partner if the provisions of section 5A applies
31.10.2023 Section 44AB A.Y 2023- Audit report under section 44AB for the assessment year
24 2023-24 in the case of an assessee who is also required to
submit a report pertaining to international or specified
domestic transactions under section 92E
31.10.2023 Form 3CEB Oct-23 Report to be furnished in Form 3CEB in respect of
international transaction and specified domestic transaction.
31.10.2023 Form No. 3CEJ Oct-23 Due date for e-filing of report (in Form No. 3CEJ) by an
eligible investment fund in respect of arm's length price of
the remuneration paid to the fund manager (if the assessee
is required to submit return of income on October 31, 2023).
31.10.2023 Rules 5D, 5E Oct-23 Statement by scientific research association, university,
and 5F college or other association or Indian scientific research
company as required by rules 5D, 5E and 5F (if due date of
submission of return of income is October 31, 2023).
31.10.2023 Section NA Submit copy of audit of accounts to the Secretary,
35(2AB) Department of Scientific and Industrial Research in case
company is eligible for weighted deduction under section
35(2AB) [if company does not have any
international/specified domestic transaction]

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31.10.2023 Form 10BBB Jul to Sept- Intimation in Form 10BBB by a pension fund in respect of
23 each investment made in India for quarter ending
September, 2023
31.10.2023 Form II by Jul to Sept- Intimation in Form II by Sovereign Wealth Fund in respect of
Sovereign 23 investment made in India for quarter ending September,
Wealth Fund 2023
15.10.2023 PF Payment Sept-23 Provident Fund payment for September 2023
15.10.2023 ESI Payment Sept-23 Employee State Insurance payment for September 2023.
25.10.2023 Form Sept-23 Return of Employee's qualifying/leaving & Monthly

Labour law
1,2,10,21 and remittance Statement.

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25.10.2023 Form 7(IF) Sept-23 Monthly Return for exempted employer under EDLI Scheme.
15.10.2023 Form ADT-1 15 days Appointment of Auditor

from the
conclusion
of the AGM
30 days from Form CRA-4 30 days Filing of Cost Audit Report
the from the
receipt of receipt of
Cost the Cost
Audit
Audit Report Report
30 days from Form MGT-14 30 days Filing of resolutions with MCA regarding Board Report and
the date of from the Annual Accounts
the Board date of
Meeting financial
statements
and Board
ROC (MCA)
Report by
the Board
of Directors
30th April MSME Form 1 For Half-yearly return with the registrar in respect of outstanding
(October- reporting payments to Micro or Small Enterprise
March) dues to
Period MSME
31st October exceeding
(April- 45 days, if
September) any on a
Period half-yearly
basis
30th October MCA LLP NA Statement of Accounts of LLP
2023 FORM 8

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INCOME TAX UPDATES
NOTIFICATIONS
Detail DATE MATTER SOURCE

Notification No. 71/2023 12.09.2023 In exercise of the powers conferred by sub- Click Here
clause (d) of clause (viiab) of section 47 of
the Income-tax Act, 1961 (43 of 1961), the
Central Government hereby makes the
following further amendments in the
notification of the Government of India,
Ministry of Finance, (Department of
Revenue), number 16/2020, dated the 5th
March, 2020, published in the Gazette of
India, Extraordinary, Part-II, Section 3, sub-
section (ii), vide number S.O. 986(E), dated
5th March, 2020
Notification No.77 /2023 12.09.2023 In exercise of the powers conferred by sub- Click Here
section (23EC) of section 10 of the Income-
tax Act, 1961 (43 of 1961), the Central
Government hereby specifies the Multi
Commodity Exchange Investor (Client)
Protection Fund Trust set up by Multi
Commodity Exchange of India Limited,
Mumbai for the purposes of the said clause
for the assessment year 2014-15
19.09.2023 In exercise of the powers conferred by Click Here
Notification No. 78/2023
clause (46) of section 10 of the Income-tax
Act, 1961 (43 of 1961), the Central
Government hereby notifies for the
purposes of the said clause, ‘Uttar Pradesh
Expressways Industrial Development
Authority’ (PAN AAALU0121E), an
Authority constituted by the State
government of Uttar Pradesh, in respect of
the following specified income arising to
that Authority
22.09.2023 —In exercise of the powers conferred by Click Here
section 43D of the Income-tax Act, 1961
(43 of 1961), the Central Government
hereby notifies the following classes of
non-banking financial companies (NBFCs),
for the purpose of the said section, namely:
–
(a) all NBFCs classified in the Top Layer;
(b) all NBFCs classified in the Upper Layer;
(c) all NBFCs classified in the Middle Layer.
clause (da) of section 43B of the Income-
tax Act, 1961 (43 of 1961), the Central
Government hereby notifies the following

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classes of non-banking financial companies

(NBFCs), for the purpose of the said clause,
namely: –
(a) all NBFCs classified in the Top Layer;
(b) all NBFCs classified in the Upper Layer;
(c) all NBFCs classified in the Middle Layer.
25.09.2023 In exercise of the powers conferred by sub- Click Here
Notification No. 81 /2023
clause (i) of clause (a) of the Explanation to
clause (viib) of sub-section (2) of section 56
read with section 295 of the Income-tax
Act, 1961 (43 of 1961), the Central Board of
Direct Taxes hereby makes the following
rules further to amend the Income-tax
Rules,1962
27.09.2023 Procedure, format and standards for filling Click Here
Notification No. 02 /2023
an application for grant of certificate under
sub-rule (4) and its proviso of Rule 28AA of
Income Tax Rules, 1962, for deduction of
Income-tax at any lower rate or no
deduction of Income-tax under sub-section
(I) of section 197 of the Income-tax Act,
1961 through TRACES
29.09.2023 In exercise of the powers conferred by sub- Click Here
section (5) of section 115BAE, read with
section 295 of the Income-tax Act, 1961 (43
of 1961), the Central Board of Direct Taxes
hereby makes the following rules further to
amend the Income-tax Rules, 1962

purposes of the said clause, ‘Punjab Nurses
Registration Council’ (PAN: AAABR0094H),
a council constituted by the Government of
Punjab, in respect of the following income
arising to the Council
purposes of the said clause, ‘National
Farmers Welfare Program Implementation
Society’, (PAN: AAAGN0886J), a society
established by Central Government, in
respect of the following specified income
arising to that Society
OTHER UPDATE IN INCOME TAX

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Detail DATE MATTER SOURCE

Check Bank A/c validation 13.09.2023 Has your bank merged with another bank? Click Here
Status For Refund Has your bank branch changed?
Has your bank account number changed?
Has Your name in Bank Account changed?
Has your bank account closed or become
inactive?
Has IFSC Code of your bank account
changed?
IF YES….
You need to Update/ Revalidate your Bank
A/c details on e-filing portal.
To update/revalidate your bank account
details, login to:
https://eportal.incometax.gov.in > Profile
> My bank Accounts > Click on three
vertical dots > Choose Revalidate>make
required changes in data for updating
details > Click on Validate button.
For adding a new bank account, login to
https://eportal.incometax.gov.in > Profile
> My bank Accounts > Add bank account >
fill the required details > Click on Validate
button.
After some time, you can check the status
of bank account Validation.
Once the Status of Bank account changes
to Validated, don’t forget to nominate it for
refund by enabling the ‘Nominate for
Refund’ button.
If the bank account validation has failed,
you can remove that bank account by
clicking on the three vertical dots on “My
bank accounts” screen.
Please ensure that only those bank
accounts, which are linked with PAN should
be validated and nominated for refund.
Refund cannot be credited to Bank A/c not
linked with PAN.
Digital Signature 14.09.2023 Taxpayers are advised to check DSC for its Click Here
Certificate (DSC) related expiry date, registration on e-Filing portal
issues and solutions & installation of latest emBridge
application to avoid last minute issues in e-
Verification.
In case, you are facing any problem in e-
Verification through DSC, please refer to
the following FAQs:

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Q1: During e-Verification using DSC, I am

getting “Something went wrong” error
message, what should I do?
Ans: If you are facing issue (Something
Went Wrong) in DSC, please follow below
mentioned steps:
First uninstall the existing emBridge
application and then download the latest
application.
To download latest application: Visit to
https://embridge.emudhra.com/
Install the new version.
Follow the guidelines provided in the
emBridge installer for the basic
troubleshooting.
Please Delete existing certificate and
import it again in Epasstoken Tool and re-
try.
Q2: My DSC registered with e-Filing portal
has expired, what should I do?
Ans: Taxpayer needs to register a new valid
DSC with e-Filing portal. Please follow
below mentioned steps:
Procure a new digital signature certificate
from DSC provider.
Login to e-Filing portal and navigate to
“Register DSC” functionality.
Register the new DSC on e-Filing portal.
Q3: My DSC registered with e-Filing portal
has expired. I am trying to register a new
DSC, but getting error message “Customer
already exists”, what should be done?
Ans: To register a new DSC, kindly de-
register the old DSC registered on e-Filing
portal against your PAN. Please follow
below mentioned steps:
Procure a new digital signature certificate
from DSC provider.
Raise a grievance on e-Filing portal to de-
register the old DSC. Also, attach screen
shot of error message to grievance raised.
Mention the reason for registering the new
DSC.
Once your old DSC is de-registered, you will
get an email communication, post that you
can register a new DSC by following the
DSC registration steps.

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Q4: The key person associated with the

corporate has left and the new key person
has registered DSC against his PAN but
during e-Verification using DSC, still the
PAN of earlier key person is reflected,
kindly guide?
Ans: In case the key person associated has
changed, you need to update the details of
new key person in profile and appoint as
Principal Contact. Please follow below
mentioned steps:
Login to e-Filing portal using corporate
PAN.
Navigate to My Profile-> Key Person
details-> Add the details on the new key
person-> Appoint as Principal Contact
Ask the Principal Contact to login to e-Filing
portal with its PAN and navigate to My
Profile->Register DSC.
Follow the DSC registration steps.
Once DSC is registered successfully, same
can be used for verification of
ITRs/Forms/other requests for corporate
PAN.
Q5: While verifying using DSC, I am getting
“Certificate mismatch” error?
Ans: In case of non-individual (Companies,
Firms, Trusts, LLPs etc.) PANs, kindly make
sure that DSC used for verification should
be linked with PAN of the Principal Contact
and DSC should be registered on e-Filing
portal from Login of Principal Contact.
Due date for filing Return 18.09.2023 The due date for filing Return of Income in Click Here
of Income in ITR-7 for A.Y. ITR-7 for A.Y. 2023–24 has been extended
2023–24 by CBDT from October 31st to November
30th, 2023. Refer CBDT Circular No.
16/2023 dated September 18th, 2023.
Due date for filing Audit 18.09.2023 The due date for filing Audit Reports in Click Here
Reports in Form 10B/Form Form 10B/Form 10BB for A.Y. 2023–24 has
10BB for A.Y. 2023–24 been extended by CBDT from September
30th to October 31st, 2023. Refer CBDT
Circular No. 16/2023 dated September
18th, 2023
SPECIAL UPDATE :-TDS CREDIT- CARRY FORWARD, BROUGHT FORWARD TDS, UNCLAIMED TDS, FORM 71 AND
SEC 155(20)
SEC 199 READ WITH RULE 37BA – CREDIT OF TDS

14
Credit for tax deducted at source and paid to the Central Government, shall be given for the assessment year for
which such income is assessable (except for Sec 194N).
Example – Fintaxpro Advisory Limited provide professional services to GeForce Private Limited. Fintaxpro Advisory
Limited take advance payment before starting the assignment. On 31. March.2023 GeForce made a payment of INR
900000 (1000000-100000) to Fintaxpro after deducting TDS of 10% i.e., 100000. Fintaxpro raise invoice on 1st April
2023 and assignment also started from 1st April only.
Since income is assessable in FY 2023-24 (April 2023), Fintaxpro Advisory LLP need is eligible to take credit in FY
2023-24 only.
IN THE ABOVE EXAMPLE WHAT IS THE PROCEDURE FINTAXPRO ADVISORY LLP NEED TO OPT TO CLAIM TDS IN
FY 2023-24.
In the above example TDS was deducted on 31st March which means that would be reflected in 26AS of fintaxpro in
FY 2022-23. However, since income corresponding to such TDS will be assessed in next year fintaxpro need to carry
forward the TDS and claim in next year.
However, it may be noted TDS deducted on income from Salary is not eligible to carry forward.
IN FY 2022-23 TDS WOULD BE CARRY FORWARD AS FOLLOWS -
IN FY 2023-24 TDS WOULD BE BROUGHT FORWARD AS FOLLOWS
CAN WE BROUGHT FORWARD TDS CREDIT WITHOUT CARRY FORWARD?

15
No, it is mandatory to carry forward the TDS of previous year to brought forward in current year. Let’s understand
this which the help of some examples.
Example 1- Mr. Ankush Sharma is an online seller and didn’t file his ITR for FY 2021-22. However, on checking 26AS it
is found that TDS of 5000 has been deducted under Sec 194O for FY 2021-22. Mr. Ankush wants to claim TDS for FY
2021-22 and wants to report income as well in the current FY 2022-23. Advise Mr. Ankush can he claim such TDS in
the current year.
As per Sec 199 read with rule 37BA “Credit for tax deducted at source and paid to the Central Government, shall be
given for the assessment year for which such income is assessable.” Since income is assessable in FY 2021-22 and
hence Mr. Ankush can’t claim TDS in FY 2022-23.
IN THE ABOVE EXAMPLE CAN WE CARRY FORWARD TO TDS IN UPDATED RETURN ITR U?
In the above case many practitioners advise to file updated ITR us 1398A for FY 21-22 and carry forward such TDS.
However, this is not appropriate as per the provisions of Income tax because to carry forward TDS, income is also
needed to carry forward. Although the income tax act provides the carry forward of losses but carry forward of
income would violate the charging section and point of taxation. The only case where the above TDS can be claimed
is moving a condonation application to department us 119(2)(b) and after approval file ITR for FY 21-22. Practically
department approve such application in specific cases of genuine hardship only and doesn’t approve the application
to claim refund of TDS.
SPECIAL CASE WHERE UNCLAIMED TDS OF PREVIOUS YEAR CAN BE CLAIM IN CURRENT YEAR
Fintaxpro Advisory LLP file ITR for FY 2021-22 and declare income correctly. However, one supplier deducted TDS u/s
194C and deposited TDS lately even after the due date of revision of ITR for FY 21-22. Due to the late TDS deposit
Fintaxpro Advisory LLP is not able to claim TDS. Also, this TDS cannot claim in ITR U as it would resulting in
refund/increase refund. To avoid the genuine hardship Finance Act,2023 came up with a new provision to claim such
kind of TDS.
[TO BE EFFECTIVE FROM 1-OCT-2023]
Sec 155(20) Where any income has been included in the return of income furnished by an assessee under section
139 for any assessment year (herein referred to as the relevant assessment year) and tax on such income has been
deducted at source and paid to the credit of the Central Government in accordance with the provisions of Chapter
XVII-B in a subsequent financial year, the Assessing Officer shall, on an application made by the assessee in such
form, as may be prescribed, within a period of two years from the end of the financial year in which such tax was
deducted at source, amend the order of assessment or any intimation allowing credit of such tax deducted at source
in the relevant assessment year, and the provisions of section 154 shall, so far as may be, apply thereto and the
period of four years specified in sub-section (7) of that section shall be reckoned from the end of the financial year in
which such tax has been deducted:
Provided that the credit of such tax deducted at source shall not be allowed in any other assessment year.
Rule 134. (1) The application required to be made by the assessee under sub-section (20) of section 155 shall be in
Form No. 71 (To see Form No. 71 Click Here)

16
CUSTOMS UPDATES
NOTIFICATION/CIRCULAR DATE MATTER SOURCE

52/2023-Customs 05.09.2023 Seeks to amend notification No. 50/2017 - Click Here
Customs dated 30.06.2017 in order to
modify Customs duty exemption provided
to textile machineries.
53/2023-Customs 05.09.2023 Seeks to amend No. 50/2017-Customs, Click Here
dated the 30th June, 2017 February, 2021
in order to revise effecive duty for certain
products
54/2023-Customs 14.09.2023 seeks to amend notification no. 50/2017- Click Here
Customs in order to amend various entries
relating to Project Imports as a result of
Project Import review.
55/2023-Customs 14.09.2023 seeks to amend notification no 11/2022- Click Here
Customs and 12/2022-Customs in order to
amend entries relating to Phased
Manufacturing Programmer for wearables
and hearable.
56/2023-Customs 15.09.2023 Seeks to amend No. 19/2019-Customs Click Here
57/2023-Customs 29.09.2023 Seeks to amend notification No. 55/2022- Click Here
Customs dated 31.10.2022, in order to
provide export duty exemption on exports
of Bangalore Rose Onion.
64/2023-Customs (NT) 06.09.2023 Exchange Rate Notification No. 64/2023- Click Here
Cus (NT) dated 06.09.2023-reg
65/2023-Customs (NT) 06.09.2023 Notification in relation to new Land Click Here
Customs Station Nischintpur Railway
Station in West Tripura District, Tripura
with route Nischintpur (India) to
Gangasagar (Bangladesh) Railway line by
amendment of Principal Notification No.
63/1994-Customs (N.T.) dated 21st
November, 1994
66/2023-Customs (NT) 14.09.2023 Notification in relation to new Land Click Here
Customs Station MAIA in Murshidabad
District, West Bengal with route "The river
route as per the Protocol on Inland Water
Transit and Trade between India and
Bangladesh connecting Maia in India to
Bangladesh" by amendment of Principal
Notification No. 63/1994-Customs (N.T.)
dated 21st November, 1994
67/2023-Customs (NT) 15.09.2023 Fixation of Tariff Value of Edible Oils, Brass Click Here
Scrap, Areca Nut, Gold and Silver- Reg.

17
68/2023-Customs (NT) 21.09.2023 Exchange Rate Notification No. 68/2023- Click Here
Cus (NT) dated 21.09.2023-reg.
69/2023-Customs (NT) 27.09.2023 Notification to exempt deposits into ECL till Click Here
30th November 2023.
70/2023-Customs (NT) 27.09.2023 Exemption of deposits from the provisions Click Here
of Section 51 of Customs Act, 1962-reg.
71/2023-Customs (NT) 29.09.2023 Fixation of Tariff Value of Edible Oils, Brass Click Here
Scrap, Areca Nut, Gold and Silver- Reg.
72/2023-Customs (NT) 30.09.2023 amendment in the First Schedule to the Click Here
Customs Tariff Act, 1975.
09/2023-Customs (ADD) 11.09.2023 Seeks to impose ADD on imports of " Flat Click Here
base steel wheels" originating in and
exported from China PR for a period of 5
years
33/2022-Customs (ADD) 12.09.2023 Corrigendum-Corrigendum dated Click Here
12.09.2023 to notification No. 33/2022-
Customs (ADD) dated 30.12.2022.
21/2023 14.09.2023 Norms for posting of officers and Click Here
benchmark performance criteria while
granting exemption from payment of Cost
Recovery Charges (CRC) at Air Freight
Stations
22/2023 19.09.2023 Circular No. 22/2023-Customs- Click Here
Implementation of Ex-Bond Shipping Bill in
ICES 1.5
23/2023 30.09.2023 Mandatory additional qualifiers in Click Here
import/export declarations in respect of
certain products-reg.
24/2023 30.09.2023 Implementation of Section 16 4 of IGST Act Click Here
related to restriction on export of certain
goods on payment of IGST and coverage
under refund mechanism- reg.

18

CENTRAL EXCISE UPDATES

30/2023-Central Excise 15.09.2023 Seeks to amend No. 18/2022-Central Click Here
Excise, dated the 19th July, 2022 to
increase the Special Additional Excise Duty
on production of Petroleum Crude and
reduce the Special Additional Excise Duty
on export of ATF
31/2023-Central Excise 15.09.2023 dated the 30th June, 2022 , to reduce the Click Here
Special Additional Excise Duty on export of
Diesel.
32/2023-Central Excise 29.09.2023 Seeks to amend No. 18/2022-Central Click Here
Excise, dated the 19th July, 2022 to
increase the Special Additional Excise Duty
on production of Petroleum Crude and
reduce the Special Additional Excise Duty
on export of ATF
33/2023-Central Excise 29.09.2023 Seeks to further amend No. 04/2022- Click Here
Central Excise, dated the 30th June, 2022 ,
to reduce the Special Additional Excise
Duty on export of Diesel.
GST UPDATES
GST ADVISORY ISSUED BY GSTIN
S.NO. NOTIFICATION/CIRCULAR DATE SOURCE

1. Advisory: Time limit for Reporting Invoices on the IRP Portal 13.09.2023 Click Here
2. Advisory: Geocoding Functionality for the Additional Place of Business 19.09.2023 Click Here
3. Advisory: Temporary /Short Period Pause in e-Invoice Auto Population into 27.09.2023 Click Here
GSTR-1
4. Advisory: e-Invoice JSON download functionality Live on the GST e-Invoice 03.10.2023 Click Here
Portal
1. ADVISORY: TIME LIMIT FOR REPORTING INVOICES ON THE IRP PORTAL

19
1.It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on
the e-invoice IRP portals for taxpayers with AATO greater than 100 crores.
2.To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 30 days on
the date of reporting.
3. Please note that this restriction will apply to the all-document types (Invoices/Credit note/Debit note) for which IRN
is to be generated.
4.For example, if an invoice has a date of November 1, 2023, it cannot be reported after November 30, 2023. The
validation built into the invoice registration portals will disallow the user from reporting the invoice after the 30 days
window. Hence, it is essential for taxpayers to ensure that they report the invoice within the 30 days window provided
by the new time limit.
5.It is further to clarify that there will be no such reporting restriction on taxpayers with AATO less than 100 crores, as
of now.
6.In order to provide sufficient time for taxpayers to comply with this requirement, which may require changes to your
systems, it is proposed to implement it from 1st November 2023 onwards.
2. ADVISORY: GEOCODING FUNCTIONALITY FOR THE ADDITIONAL PLACE OF BUSINESS

1.GSTN is pleased to inform that the geocoding functionality for the "Additional Place of Business" address is now
active across all States and Union Territories. This builds upon the geocoding functionality earlier implemented for the
principal place of business, operational since February 2023.
2.To date, over 2.05 crore addresses have been geocoded for both principal and additional places of business by GSTN.
Moreover, since March 2022, all new addresses are geocoded at the point of registration, ensuring consistent accuracy
and standardisation from the beginning.
3. Here is a brief guide on how to utilize this feature:
i. Access: Navigate to Services>>Registration>>Geocoding Business Addresses tab on the FO portal to find this
functionality.
ii. Usage: The system will display a system-generated geocoded address. You have the option to accept this or modify
it as needed. If a system-generated address is not available, you can input the geocoded address directly.
iii. Viewing: Saved geocoded address details can be found under the "Geocoded Places of Business" tab. After logging
in, go to My Profile >> Geocoded Places of Business.
iv. One-time Submission: This is a one-time activity, and post-submission, address revisions are not permitted.
Taxpayers who have already geocoded their addresses through new registration or core amendment would not be
required to do this as on the GST portal their address will be shown as geocoded. Remember, changes to the address
on your registration certificate can only be made through the core amendment process. This geocoding feature will
not affect previously saved addresses.
v. Eligibility: This feature is accessible to normal, composition, SEZ units, SEZ developers, ISD and casual taxpayers
whether they are active, canceled, or suspended.
3. ADVISORY: TEMPORARY /SHORT PERIOD PAUSE IN E -INVOICE AUTO POPULATION INTO GSTR -1

20
1.GSTN wishes to inform you that the auto population of e-Invoice in GSTR-1 is temporarily halted due to essential
system upgrades, which will involve the implementation of e-Invoice JSON download functionality.
2.This will have a temporary impact on the e-Invoice data auto population in GSTR-1 which will not be available from
26th September 2023 to 29th September 2023 from all six IRP portals.
3. The data for this period will be auto-populated on 30th September 2023 and will not impact GSTR-1 filing for next
month and please avoid manually adding invoices in this period as the break will be only of a temporary nature.
4.Please plan your activities accordingly.
5.Details about the e-invoice JSON download functionality will be shared shortly via a separate advisory.
6.We apologize for any inconvenience and appreciate your understanding and cooperation.
4. ADVISORY: E-INVOICE JSON DOWNLOAD FUNCTIONALITY LIVE ON THE GST E -INVOICE PORTAL
1. GSTN is pleased to inform you that the e-Invoice JSON download functionality is now live on the GST Portal. To
help you to navigate and make the most of this feature, some key steps are as below.
2. To download the generated and received e-Invoices in JSON format, please follow these steps:
Step 1: Log in
• Visit the e-Invoice Portal at https://einvoice.gst.gov.in
• Log in using your GST Portal credentials.
Step 2: Navigate to Download E-invoice JSONs Section
• On the main portal page, find the "Download E-Invoice JSONs" section. It has two tabs: "Generated" and
"Received."
• The "Generated" tab is designed for e-Invoices generated by you, while the "Received" tab is meant for e-Invoices
received by you.
Step 3: Search for e-Invoice (By IRN)
• Click the "By IRN" tab to search for a specific e-Invoice.
• Enter the IRN (Invoice Reference Number) or pick the Financial Year, Document Type, and Document Number.
• Hit the "Search" button.
Step 4: View and Download
• Once you hit search, you will see the specific IRN.
• To download the signed e-invoice, click "Download PDF" (available for a single active IRN).
• Or, choose "DOWNLOAD E-INVOICE (JSON)" for a JSON format download.
Step 5: Bulk Download (By Period)
• Use the "For Period" tab to download e-Invoices in bulk for a specific period.

21
• Select the Financial Year and Month.
• Click "DOWNLOAD E-INVOICE (JSON)" to get all e-Invoices in JSON format for that month.
Step 6: Excel Format e-Invoice List (By Period)
• To get an e-invoice list in Excel format for a specific period:
• Visit the "List of IRNs" tab.
• Select the desired Financial Year and Month.
• Click "DOWNLOAD E-INVOICE (Excel)."
Step 7: Downloading History
• The requested e-Invoices remain in downloading history for 2 days only. Post 48 hours fresh request needs to be
initiated.
3. Additionally, this functionality allows to download all e-invoices reported across all six IRPs (Invoice Registration
Portals), i.e. complete data.
4. Regarding accessibility, you can download e-Invoice JSON files for up to 6 months from the date of IRN generation.
5. To ensure a smoother experience for all users. It is requested that taxpayers schedule their downloads in a
staggered manner during off peak hours and refrain from overwhelming the system with large requests during the
initial days.
6. Moreover, please note that this functionality is also accessible via GSP (GST Suvidha Providers) through G2B
(Government-to-Business) APIs.
7. For your convenience, we have attached a comprehensive manual and FAQ document below for your ready
reference. The same can be accessed at: https://tutorial.gst.gov.in/downloads/news/e-
invoice_json_download_functionality.pdf
GST NOTIFICATIONS [CENTRAL TAX]
Number NOTIFICATION DATE SOURCE

45/2023- Seeks to make amendments (Third Amendment, 2023) to the CGST 06.09.2023 Click Here
Central Tax Rules, 2017
46/2023- Seeks to appoint common adjudicating authority in respect of show 18.09.2023 Click Here
Central Tax cause notice issued in favour of M/s Inkuat Infrasol Pvt. Ltd.
47/2023- Seeks to amend Notification No. 30/2023-CT dated 31st July, 2023 25.09.2023 Click Here
Central Tax
48/2023- Seeks to notify the provisions of the Central Goods and Services Tax 29.09.2023 Click Here
Central Tax (Amendment) Act, 2023
49/2023- Seeks to notify supply of online money gaming, supply of online 29.09.2023 Click Here
Central Tax gaming other than online money gaming and supply of actionable
claims in casinos under section 15(5) of CGST Act
50/2023- Seeks to amend Notification No. 66/2017-Central Tax dated 29.09.2023 Click Here
Central Tax 15.11.2017 to exclude specified actionable claims

22
Central Tax Rules, 2017 in supersession of Notification No. 45/2023 dated
06.09.2023
11/2023- Seeks to amend Notification No 01/2017- Central Tax (Rate) dated 29.09.2023 Click Here
Central Tax 28.06.2017
(Rate)
Central Tax Rules, 2017 in supersession of Notification No. 45/2023 dated
06.09.2023
GST NOTIFICATIONS [INTEGRATED TAX]

02/2023- Seeks to notify the provisions of the Integrated Goods and Services 29.09.2023 Click Here
Integrated Tax (Amendment) Act, 2023
Tax
03/2023- Seeks to notify the supply of online money gaming as the supply of 29.09.2023 Click Here
Integrated goods on import of which, integrated tax shall be levied and
Tax collected under sub-section (1) of section 5 of the Integrated Goods
and Services Tax Act,2017
04/2023- Seeks to provide Simplified registration Scheme for overseas 29.09.2023 Click Here
Integrated supplier of online money gaming
Tax
11/2023- Seeks to amend notification No. 8/2017- Integrated Tax (Rate) dated 26.09.2023 Click Here
Integrated 28.06.2017 to implement decisions of the 50th GST Council
Tax (Rate)
12/2023- Seeks to amend notification No. 09/2017- Integrated Tax (Rate) 26.09.2023 Click Here
Integrated dated 28.06.2017 to implement decisions of the 50th GST Council
Tax (Rate)
13/2023- Seeks to amend notification No. 10/2017- Integrated Tax (Rate) 26.09.2023 Click Here
Integrated dated 28.06.2017 to implement decisions of the 50th GST Council
Tax (Rate)
14/2023- Seeks to amend Notification No 01/2017- Integrated Tax (Rate) 29.09.2023 Click Here
Integrated dated 28.06.2017
Tax (Rate)
GST NOTIFICATIONS [UNION TERRITORY TAX ]

11/2023- Seeks to amend Notification No 01/2017- Union territory Tax (Rate) 29.09.2023 Click Here
Union dated 28.06.2017
Territory Tax
(Rate)
OTHER UPDATES IN GST

23
NEWS MATTER SOURCE

SC ruling on Gameskraft The Supreme Court’s final decision in the GST Click Here
GST case could decide fate department’s alleged Rs 21,000 crore goods and
of India's real-money services tax (GST) evasion case against skill gaming
gaming industry firm, Gameskraft, will determine the fate of the
retrospective GST liabilities for all real-money
gaming companies, according to legal experts.
They said that any unfavourable ruling from the
apex court could be the final nail in the coffin for
the skill-based gaming industry that is already
reeling under the GST Council’s recently
announced 28 percent GST regime.
On September 6, the Supreme Court stayed the
Karnataka High Court’s judgment that had
quashed the GST department’s show-cause notice
to the Bengaluru-based skill gaming company in
May 2023.
In the notice, a GST intelligence unit had alleged
that the company had failed to pay Rs 21,000 crore
in GST, the biggest such claim in the history of
indirect taxation. The notice was for the period
between 2017 and June 30, 2022. A bench led by
Chief Justice of India, D Y Chandrachud, is likely to
hear the case for final hearing in three weeks.
Government May Relook The government may reconsider allowing local Click Here
At Allowing Companies To firms to list on foreign exchanges, Finance
List Overseas: Finance Minister Nirmala Sitharaman said on Monday,
Ministry signalling government could revive a plan put on
hold due to domestic opposition and tax concerns.
Under current regulations, companies are not
allowed to list directly on overseas exchanges.
They can only list on foreign exchanges through
instruments such as depository receipts.
The plan to allow direct overseas listing of Indian
firms was first announced in 2020, but was
shelved following concerns around tax losses and
opposition from a faction of the ruling party,
which feared less Indian regulatory oversight of
domestic firms that list abroad.
Sitharaman was speaking at a joint press
conference with British Finance Minister Jeremy
Hunt following bilateral talks after the weekend’s
G20 meetings in New Delhi.
Hunt told the press that the Indian government
had said it would consider allowing Indian
companies to list directly on the London Stock
Exchange.
“We are particularly pleased to make a big step
forward to make a first confirmation by India that
it will explore the London Stock Exchange as an

24
international destination for the direct listing of

Indian companies,” Hunt said.
Goods in transit can't be The Andhra Pradesh High Court has ruled that the Click Here
seized under GST law goods and services tax (GST) authorities cannot
without inquiry: HC seize items in transit without first conducting an
inquiry into the authenticity of the transaction,
even if the original supplier does not have GST
registration.
The case relates to a trader who bought iron scrap

from a company in Vijayawada, Andhra Pradesh,
and subsequently sold it to another company
based in Medak district, Telangana.
The goods were in transit on a truck when they

were intercepted and detained by GST authorities.
Their rationale for the detention was that the
original supplier in Vijayawada did not have a GST
registration since it had been suspended.
While the trader argued that the authorities

purposefully disregarded the documents
presented by the driver during the inspection, the
authorities countered that the driver had failed to
produce the purchase invoice or show the mode
of payment for the purchase price.e Lok Sabha on
August 11, 2023, to repeal and replace Indian
Penal Code, the Code of Criminal Procedure (CrPC)
and the Indian Evidence Act.
Union Home Minister Amit Shah introduced the
following bill i.e. The Bharatiya Nyaya Sanhita,
2023 (to consolidate and amend the provisions
relating to offences and for matters connected
therewith or incidental thereto)
Man cheats person of Rs 26 A 43-year-old man from Maharashtra’s Thane Click Here
lakh by posing as CBI district has been arrested for allegedly posing as a
officer; arrested CBI officer and cheating a person of Rs 26 lakh,
police said on Wednesday.
The 51-year-old victim from Mira Road area was a
partner in a metal refining company in
neighbouring Palghar which was engaged in the
purchase of scrapped batteries, recycling and
extracting lead from them and selling the same in
the market, Kashimira police station’s senior
police inspector Sandeep Kadam said quoting the
FIR.
The GST commissioner’s office had raised a query
regarding the purchase of scrapped batteries,

25
pointing out certain faults in the transactions in

2021-22 and issued a notice to the firm.
The victim submitted all his transaction
documents to the GST commissioner and was
awaiting a clean chit, as per the FIR.
Cabinet approves Addressing the media, Chief Minister Conrad K Click Here
amendments to Sangma said these are amendments that are
Meghalaya Goods and mandated in terms of the decisions taken by the
Services Tax GST Council which are then implemented by the
state governments.
He said every state government has to amend the
GST Act as per the amendments made by the GST
Council.
“These are just regularising the decisions made by
the Council by amending them and this was done
by an ordinance and now we will be regularising it
by bringing it to the Assembly,” he said.
Regarding the Meghalaya Medical Council
(Amendment) Bill, 2023, Sangma said, “This was
again an ordinance. If you recall nomenclature
changes were there and those have been made
and ordinance was passed few weeks back and
now that again has been regularised.”
He said the amendment to the National Law
University of Meghalaya Bill, 2023 were related to
the finance committee in the University. Besides,
the government had also repealed the Rajit Lal
University Act, 2011 through an ordinance.
According to him, all these will be presented in the
upcoming Assembly session which will be held
from September 15 to 22, for regularization.
No Bar In Assessee Seeking The Supreme Court has ruled that since appeal is Click Here
Restoration Of Appeal a statutory remedy, the assessee cannot be barred
After Being Unsuccessful In from seeking restoration of the appeal which was
Availing Amnesty Scheme: withdrawn by him as a pre-condition for availing
Supreme Court the benefit under an Amnesty scheme, if the
assessee is subsequently unsuccessful in availing
the benefit of the scheme.
The top court remarked that the appellate
authority as well as the Kerala High Court ought to
have allowed the assessee to seek restoration of
his appeal before the appellate authority so that
the same could have been heard on merits. The
court thus set aside the order of the High Court
where it had upheld the appellant authority’s
decision rejecting assessee’s application for
restoration of appeal against the assessment
order passed against him.

26
Noting that the appellate authority was originally

seized of the appeal which was in the nature of a
statutory appeal, and that if the assessee was
unsuccessful in appeal he had further remedies in
law, the bench of Justices B.V. Nagarathna and
Ujjal Bhuyan said:
“In view of the application filed by the appellant
being rejected, neither the appeal has been
restored nor has he been heard on merits and
further remedies have also been foreclosed. On
that short ground alone, the orders of the High
Court as well as the appellate authority on the
application filed by the appellant herein are set
aside. The appeal before the KVATA No.174/2019
which was pending before the Joint Commissioner
of Appeals is restored on the file of the said
authority.”
Gameskraft likely to get The SC had, on September 6, stayed the Karnataka Click Here
CBIC demand notice with High Court judgment, issued in May 2023.
penalty: Revenue officials “Now, the CBIC will adjudicate. The assessing
commissioner will take a call. The assessing officer
will send the tax demand. Why would there be a
delay? The only reason it was held back was
because of the Karnataka High Court order. The
demand notice will be sent now with a penalty,” a
senior government official told Money control. A
mail to the Union finance ministry for comments
received no reply till the time of publishing the
report.
In September 2022, a GST intelligence unit issued
a show-cause notice to Gameskraft Technology
Private Ltd (GTPL), alleging that the company
failed to pay Rs 21,000 crore in GST, the biggest
such claim in the history of indirect taxation. The
notice was for the period between June 30, 2017,
and June 30, 2022.
Gameskraft was accused of promoting online
betting through cards, casual and fantasy games,
such as Rummy Culture, Gamezy, and Rummy
Time. Gameskraft allegedly was also not issuing
invoices to customers.
The online gaming company had approached the
Karnataka HC, challenging the show-cause notice.
In May 2023, the HC quashed the show-cause
notice and proceeded to observe that the
department was picking and choosing its
arguments. The revenue intelligence unit of the
GST department thus appealed against this
judgment in the SC.

27
'No such proposal': Nitin Union Minister Nitin Gadkari said on Tuesday that Click Here
Gadkari dismisses reports he plans to propose imposing an additional 10 per
of 10% additional tax on cent tax on diesel engine vehicles. Speaking at the
diesel-engine vehicles 63rs SIAM Annual Convention, Gadkari said that
he will make this proposal to Finance Minister
Nirmala Sitharaman later in the day. The transport
minister called it the “pollution tax” and stated
that it is the only way to reduce usage of diesel
vehicles in the country. The minister later issued a
clarification regarding the same.
He said this is the only way to bring about a

transformation to cleaner energy, otherwise
people do not seem to be in a “mood” to listen.
Gadkari asked the auto industry to encourage
diversification to this end. “We are making good
roads, which has led to a growth in the automobile
industry, in turn leading to benefits of the
automobile component players,” he said, adding
that the industry will obviously be very happy but
the Indian people will be very unhappy because of
the pollution.
During his speech at the conference, Gadkari also

requested the auto industry to reduce the
production of diesel vehicles. He urged the
industry to move from petrol and diesel to cleaner
fuels, failing which he said that the government
will have to add additional taxes.
GST Registration: Step-By- The Goods and Services Tax (GST) registration Click Here
Step Guide On How To process is online and must be completed on the
Complete The Process government website at gst.gov.in. Every dealer
Online whose annual turnover exceeds Rs 20 lakh (Rs 40
lakh or Rs 10 lakh, depending on state and type of
goods) is required to register for GST. It should be
noted that people registering for GST must
complete the GST REG-01 form. The GST REG-01
form can be completed online and is absolutely
free of charge. This form is broken into two parts:
Part A and Part B. It is critical that both Parts A and
B are filled out correctly, or else the GST
registration will not be completed
Proprietor of Pvt firm held Officials of the Central Goods and Services Tax Click Here
for GST fraud in Palghar (CGST) in Maharashtra’s Palghar have arrested the
proprietor of a private company for allegedly
availing and passing on fake input tax credit (ITC)
to the tune of Rs 18.66 crore, an official said on
Sunday.
Based on a tip-off, officers of the investigation
wing of CGST Palghar commissionerate on Friday

28
arrested Dhiren Chandrakant Shah, proprietor of

M/s Archana Impex, he said
Cement prices set to go up Though major cement companies, including Adani Click Here
with hike in taxes and UltraTech, had not effected any hike in the
cement price after the electricity duty was
increased from 17 per cent to 25 per cent recently,
the hike in CGCR tax has compelled them to re-
think on the issue. The CGCR tax has been
increased from Rs 7.50 per 50 kg bag to Rs 11 per
50 kg bag as per a notification issued on
September 16.
Despite the introduction of goods and services tax
(GST) nationally from July 2017, the state
continues to charge this levy as it was not
subsumed in the central tax. An official of Adani
Group, which runs Ambuja Cements Limited at
Darlaghat and Nalagarh, besides an ACC plant at
Barmana, said, “The company had decided against
implementing any hike in the cement prices
earlier. However, the latest move of the state
government to increase the electricity duty and
CGCR has compelled us to re-work the cement
price.”
“At a time when disaster-hit people are planning

to begin repairs, this hike has come as a rude
shock for them. A bag of cement costs Rs 450-465
in the state,” he added.
Gagan Kapoor, Chairman, Confederation of Indian
Industry, Himachal, said, “The increase in CGCR
and electricity duty on cement has broken the
backbone of the industry
Contract for next GST tech The government is gearing up to invite bids to Click Here
support provider may have operate the goods and services tax tech platform
flexible task-based cost based on a flexible task structure, unlike the
structure present contract with Infosys, which has fixed
costs, two senior officials said. The Goods and
Servies Tax Network is also considering whether to
allow global companies to bid for the contract,
given data localisation concerns, they said. The
new contract will start October 1, 2024, after
Infosys’ term ends.
“GSTN is working on the bid document to invite

interested bidders in which they will define the job
for the next consultancy firm. In terms of the bid,
we are looking at a different structure having a
flexible task-based contract rather than a fixed
size contract,” a senior government official told
Moneycontrol.

29
Infosys won the Rs 1,380 crore contract to build

and maintain the IT backbone for the GST regime
in 2015. In a fixed cost contract, the bidder will not
know how much resources are needed because
the work is not defined in water-tight
compartments at the start and keeps changing,
the official said.
Infosys is expected to bid for the contract again as

it is a flagship project for the company, the official
said.
“It will be a big size and scale contract. GSTN will

not under-fund or undersize the contract to
ensure there are no problems in cost overruns or
size of the contract later. The contract period will
be seven years,” he said.
GST testing of biometric, Pilot projects to test biometric and geotagging Click Here
geotagging authentication authentication during the GST registration process
bogged down by data have been delayed due to disagreements over
access issues: Official access to the Aadhaar identity database, a senior
government official said.
However, the finance ministry is confident of

rolling out both authentication measures –
biometric and geotagging – in FY25, the official
said. The measures are aimed at preventing the
registration of fake entities and plugging false
input tax credit claims under the Goods and
Services Tax regime.
“The pilots in Odisha and Puducherry were

supposed to roll out but did not roll out at that
time… The issue was with access to the Unique
Identification Authority of India database,” the
senior government official told Moneycontrol.
The government is tightening the GST registration

process by using biometrics and geotagging of
office buildings to curb the creation of fake
entities and stem revenue losses to the
exchequer. Currently, the identity of a person is
established via OTP-based authentication using
Aadhaar and PAN.
The Central Board of Indirect Taxes and Customs

(CBIC) planned pilot projects in Odisha and
Puducherry in the initial phase and in Rajasthan,

30
Maharashtra and Gujarat in the next phase.

However, there is no unanimity over accessing the
UIDAI database during the trials.
Fake billing: 12 firms face Having arrested four persons in January this year Click Here
Rs 50.19 crore GST penalty in an alleged fake billing case, the Punjab GST
Department has now adjudicated 12 firms and
imposed a penalty of Rs 50.19 crore against
them.The department has also started
proceedings for recovery of the penalty amount of
these firms under Section 122 of the GST Act. The
department officials have said that since the
punishment under fraud is covered under Section
132 of the GST Act, these would be proceeded
against separately through court.
The companies facing penalty include Dashmesh

Trading for Rs 13.14 crore, PB Interior Decor for Rs
7.44 crore, PK Trading Rs 3.45 crore, Guru Har Rai
Trading for Rs 5.24 crore, Gagan Trading for Rs
6.37 crore, North Vogue for Rs 2.23 crore, Shiv
Shakti Enterprises Rs 3.20 crore, Brij Trading
Company Rs 3.54 crore, Sri Balaji Trading
Company Rs 1.69 crore, Krish Enterprises for Rs
1.71 crore, Pankaj Scrap Company Rs 1.35 crore,
Sri Radhey Krishan Enterprises for Rs 0.83 crore.
The officials said that the owners of the companies

generated fake bills but did not supply any goods
and thus caused losses to the state exchequer.
“The amount of penalty imposed on them is the
same as the tax amount. The recovery of penalty
will be made in cash and not adjusted through
ITC,” they said.
The officials said, “So far we have penalised only

12 firms. In the next round, all those companies in
whose names bills were generated would also be
penalised. The process would continue like a chain
and the last company in the billing cycle too will
have to face the punishment.”
LIC receives GST bill of over The Life Insurance Corporation of India received a Click Here
Rs 290 crore from the Bihar Goods and Services Tax receipt, including interest
tax department and penalty, of over Rs 290 crore from the Bihar
state tax officials.
In an exchange filing dated September 22, LIC said

that the corporation will file an appeal before the
GST Appellate Tribunal.

31
The tax demand is for over Rs 166.75 crore, the

interest on this has been cited as over Rs 107.05
crore and the penalty has been shown as Rs 16.67
crore. All of this totals to Rs 2,90,49,22,609.
The exchange filing stated that the LIC received an

order under Section-73(9) of the BGST and CGST
Act 2017 from the Bihar Additional Commissioner
State Tax (Appeal), Central Division, Patna on
September 21.
“In the said order, the authority has demanded

GST along with interest and penalty,” read the
filing. “Corporation shall file an appeal before the
GST Appellate Tribunal and against the said order
within prescribed timelines,” it added.
Under the details of the violation committed or

alleged to have been committed, the order stated,
“Non-reversal of the ITC availed and utilised on
the item non-leviable to GST on the portion of the
premium received by the corporation from the
policyholder and the non-reversal of the ITC of the
portion of the agents’ commission on the item
non-leviable to GST on the portion of the premium
and the exempted policies.”
Himachal CM tables Himachal Pradesh Chief Minsiter Sukhvinder Singh Click Here
legislation to amend Sukhu, who holds the portfolio of Finance, tabled
taxation on goods carried a legislation in the state assembly, seeking to
by road amend taxation on the goods carried by the roads
to omit the provision to levy tax on account of
distance covered.
The Himachal Pradesh Taxation Amendment (on

Certain Goods Carried by Road) Act, 2023 was
tabled in the state assembly after the lunch break
by the Chief Minister on Thursday.
He said that the parent act of the year 1999 was

enacted to provide for levy of a tax on certain
goods carried by road in the State to validate
certain taxes imposed on goods carried by road
and for certain other matters connected
therewith.
The Chief Minister said that amendment was

necessary in order to simplify the taxation
procedure for the stakeholders, the distance
clause is being omitted so that the tax may be

32
levied on uniform rates, without taking into

account the distance covered.
Parliamentary panel bats Products made by jail inmates should be Click Here
for GST exemption for exempted from GST, as this will give them a
prison products, hi-tech competitive edge over similar products made by
jammers in jails big business houses, besides improving their sales
and profitability, a high-level Parliamentary panel
said. This was suggested by the Parliamentary
Standing Committee on Home Affairs in its report
presented in both Houses of the Parliament on
Thursday, noting that by giving GST exemption to
prison-made products and by making them
available online will not only create awareness
among people about the work done by prisoners,
but will also bring about a positive outcome for
their reforms.
The Parliamentary panel in its report on Prison

Reforms, Conditions and Infrastructure, further
suggested that to prevent drugs, arms and
especially mobile phones from being smuggled
into prisons, technologically upgraded jammers
that are capable of blocking all signals, from 2G to
5G, should be installed in all prisons.
As of now, jammers capable of blocking only 2G

and 3G network signals are available in Indian
prisons. In fact, in many prisons, no jammers are
installed at all.
Dream 11 challenges Rs The online gaming industry is under fire once Click Here
18,000 crore GST notices, again, this time with multiple demand notices and
but more notices totalling show-cause notices being issued against
Rs 1 lakh crore likely en companies for what the taxman claims are unpaid
route to gaming cos Goods and Services Tax (GST). Sources told CNBC-
TV18 that pre-show-cause notices have been
served by the Directorate General of Goods and
Services Tax Intelligence (DGGI) on at least six
online gaming companies.
CNBC-TV18 learnt that fantasy gaming company

Dream 11 received at least 4 such tax demands so
far, mounting to the total of Rs 18,000 crore.
Sources said that the notices for Rs 18,000 crore,
include a tax demand for Rs 6,000 crores, and
approximately Rs 12,000 crore in interest and
penalty. They add that independently, Dream11 is
engaging with the DGGI to sort out the matter.
Suppliers’ ranking on GST The Centre is working on a database of suppliers Click Here
compliance likely next that will rank them on the basis of their goods and
Financial Year services tax (GST) compliance track record, credit

33
history, transaction and supply history besides any

past defaults. The mechanism could be brought in
the upcoming vote-on-account and introduced
from the next financial year.
“Businesses can choose which vendors are

compliant and which are not so they will be able
to ascertain the risk ahead of engaging in business
with them,” a senior finance ministry official told
ET.
The move will improve compliance among small

suppliers and prevent blocking of input tax credit
of large businesses due to default of suppliers.
“We will start the rating process of suppliers by

November and plan to formally introduce it in the
budget,” the official said. “We intend to
implement it from the next financial year.”
The rating will be based on seven broad

parameters. The Central Board of Indirect Taxes &
Customs (CBIC) is working on the fine print, which
will be ready after consultation with the industry.
Currently, a business can not claim input tax credit
if their supplier does not file return or upload
invoices on time, which blocks their capital. The
industry had requested the CBIC to initiate the
process of rating, saying it will help companies
choose GST-compliant vendors.
Work on this started earlier this year but at that

time data synchronisation was not complete. But
with mandatory e-invoicing for small businesses,
ongoing geo-coding and Aadhaar authentication,
the CBIC will soon have complete updated data of
suppliers, which will form the basis of the rating.
“We will have all the relevant data ready by

October end,” the official said. “We will start the
process of analysis and rating from November end
or December first week.”
IMPORTANT UPDATE IN GST: - ALL CHANGES TO BE IMPLEMENTED IN GST W.E.F 1ST OCT 2023
NN 28/2023 CHANGE W.E.F 1ST OCT 2023

34
In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance Act, 2023 (8 of 2023), the Central
Government hereby appoints, —
(a)the 1st day of October 2023, as the date on which the provisions of sections 137 to 162 (except sections 149 to 154) of the
said Act shall come into force;
(b)the 1stday of August, 2023, as the date on which the provisions of sections 149 to 154 of the said Act shall come
into force
1. ALLOWING PERSON REGISTERED UNDER COMPOSITION SCHEME TO SELL GOODS THROUGH E‐COMMERCE
OPERATOR
Source: Sec 137 of FA 2023
Provision: Amendment to Section 10 of The CGST Act, 2017 Composition levy
Effect:
This amendment has been brought so as to remove the restriction imposed on registered persons engaged in supplying goods
through electronic commerce operators from opting to pay tax under the Composition Levy.
Example:
Mr. Akash want to sell goods like Saari and clothing on Meesho and Amazon. Currently he is working offline in composite supply.
However as per earlier provision Mr. Akash cannot sell goods online on Meesho or amazon as he is under composite supply.
Now after this amendment Mr. Akash can sell on online platform like Meesho and Amazon in composition scheme
2. ALIGNMENT OF ITC PROVISIONS IN ACT AS WAS AMENDED BY NN 26/2022 –CT DT. 26TH DECEMBER 2022
In the second proviso, for the words “added to his output tax liability, along with interest thereon”, the words and figures “paid
by him along with interest payable under section 50” shall be substituted.
In the third proviso, after the words “made by him”, the words “to the supplier” shall be inserted.
Effect : ITC can be reverse via GSTR 3B or DRC 03 and second change is to reclaim the credit which is reversed due to non-
payment within 180 days can be made if payment is made to supplier only.
3. INCLUSION OF SUPPLY OF UNCLEARED WAREHOUSED FOR HOME CONSUMPTION G OODS FOR REVERSAL OF
GST AND BLOCKING OF ITC WHERE THE EXPENDITURE INCURRED IS ON ACCOUNT OF CSR.
Provision : Sec 17 of CGST Act, 2017
Effect:
• This amendment has been brought so as to restrict availment of input tax credit in respect of warehoused goods to any person
before clearance for home consumption, by including the value of such transactions in the value of exempt supply.
• Further, sub‐section (5) of said section is also being amended so as to provide that input tax credit shall not be available in
respect of goods or services or both received by a taxable person, which are used or intended to be used for activities relating to
his obligations under corporate social responsibility referred to in section 135 of the Companies Act, 2013
4. SUBSTITUTION OF SECTION 23 – “PERSONS NOT LIABLE FOR REGISTRATION”, WITH NEW PROVISION.

35
Provision: Sec 23 of CGST Act,2017
Effect: By virtue of this amendment, to be brought into effect retrospectively from 1st July 2017, any person liable for
compulsory registration in terms of sub section (1) of section 22 or Section 24 of the Act need not register if exempt under sub
section (1) of section 23.
5. RESTRICTION ON FURNISHING DETAILS OF OUTWARD SUPPLIES AFTER EXPIRY OF SPECIFIED TIME PERIOD
Provision: In Sec 30 of CGST Act 2017, for the words “the prescribed manner within thirty days from the date of service of the
cancellation order:”, the words “such manner, within such time and subject to such conditions and restrictions, as may be
prescribed.” shall be substituted;
the proviso shall be omitted.
Effect : Power to give government to give time limit to Revoke cancelled GST Registration, Earlier time limit of 30 days removed
from the section and now Rule 23 prescribed the time limit of 90 Days for Revocation of cancellation of Registration which can
be further extended to 180 Days in case of sufficient cause.
6. RESTRICTION ON FURNISHING DETAILS OF OUTWARD SUPPLIES AFTER EXPIRY OF SPECI FIED TIME PERIOD
Provision: Addition in Sec 37 of CGST Act,2017
Effect:
This amendment has been brought so as to restrict the time limit up to which the details of outward supplies under sub‐section
(1) of the said section for a tax period can be furnished by a registered person.
Further, it also seeks to provide an enabling provision for extension of the said time limit, subject to certain conditions and
restrictions, for a registered person or a class of registered persons.
7. RESTRICTION ON FURNISHING RETURN FOR A TAX PERIOD AFTER EXPIRY OF SPECIFIED TIME PERIOD
Provision: Amendment in Sec 39 of CGST Act 2017
Effect:
This amendment has been brought so as to restrict the time limit up to which the return for a tax period can be furnished by a
registered person.
8. RESTRICTION ON FURNISHING ANNUAL RETURN FOR A FINANCIAL YEAR AFTER EXPIRY OF SPECIFIED TIME
PERIOD
Source : Sec 144 of FA 2023
Provision : Amendment in Sec 44 of CGST Act 2017
Addition to Section 44 of The CGST Act, 2017 44 Annual return.

36
(2) A registered person shall not be allowed to furnish an annual return under sub‐section (1) for a financial year after the expiry
of a period of three years from the due date of furnishing the said annual return:
Provided that the Government may, on the recommendations of the Council, by notification, and subject to such conditions and
restrictions as may be specified therein, allow a registered person or a class of registered persons to furnish an annual return for
a financial year under sub‐section (1), even after the expiry of the said period of three years from the due date of furnishing the
said annual return.
Effect:
Section 44 shall be renumbered as sub‐section (1) thereof, and;
This amendment has been brought so as to restrict the time limit up to which the annual return under sub‐ section (1) of the
said section for a financial year can be furnished by a registered person.
9. RESTRICTION ON FURNISHING GSTR 8 FOR A MONTH AFTER EXPIRY OF SPECIFIED TIME PERIOD
Provision : Sec 52 of CGST Act,2017
Effect:
This amendment has been brought so as to restrict the time limit up to which the statement under sub‐section (4) of the said
section for a month can be furnished by an electronic commerce operator.
10. REMOVAL OF PROVISIONAL ITC CLAUSE IN REFUND PROVISIONS

Provision: Amendment to Section 54(6) of The CGST Act, 2017.
Effect:
This amendment seeks to remove the reference to the provisionally accepted input tax credit to align the same with the present
scheme of availment of self-assessed input tax credit as per sub‐section (1) of section 41 of the said Act.
11. SPECIFYING THE DELAY PERIOD FOR PAYMENT OF INTEREST IN DELAYED REFUND CASES
Provision: Sec 54 of CGST Act 2017
Effect : This amendment seeks to provide for an enabling provision to prescribe manner of computation of period of delay for
calculation of interest on delayed refunds.
12. ASSESSMENT OF NON FILER OF RETURN -

Provision: Sec 62 Assessment of non-filers of returns.-

37
Effect – Amendment in Assessment of non fillers of Return, Additional time of 60 days to file return and after expiry of 60 days
filing with 100/day late fee
13. INTRODUCTION OF PENAL PROVISIONS IN CASE OF CONTRAVENTION OF LAW BY E‐COMMERCE

OPERATORS.
Provision: Sec 122 penalty provision
Effect: This addition has been brought to provide for penal provisions applicable to Electronic Commerce Operators in case of
contravention of provisions relating to supplies of goods made through them by unregistered persons or composition taxpayers.
Through NN 34/2023 CBIC allow small businesses to sell on e commerce operator without GST Registration. However there are
certain conditions and criteria with need to follow, Now E commerce operator need to take care about the conditions otherwise
penalty maybe impose on e comm operators.
14. DECRIMINALIZATION OF CERTAIN OFFENCES UNDER GST LAW.

Source: 156 of FA 2023
Provision: Sec 132 Punishment for certain offences
Effect- This amendment seeks to decriminalize offences specified in clause (g), (j) and (k) of the said sub‐section and to increase
the monetary threshold for launching prosecution for the offences under the said Act from one hundred lakh rupees to two
hundred lakh rupees, except for the offences related to issuance of invoices without supply of goods or services or both.
15. ALIGNMENT OF COMPOUNDING PROVISIONS IN LINE WITH CHANGES MADE IN ‘PUNISHMENT FOR CERTAIN
OFFENCES’ AND REDUCE THE COMPOUNDING AMOUNT FROM THE PRESENT RANGE OF 50 TO 150 PER CENT
OF TAX AMOUNT TO THE RANGE OF 25 TO 100 PER CENT
Provision: Amendment to Section 138 of The CGST Act, 2017
Effect: This amendment seeks to simplify the language of clause (a), to omit clause (b) and to substitute the clause (c) of said
proviso so as to exclude the persons involved in offences relating to issuance of invoices without supply of goods or services or
both from the option of compounding of the offences under the said Act. It further seeks to amend sub‐section (2) so as to
rationalize the amount for compounding of various offences by reducing the minimum as well as maximum amount for
compounding.
16. INSERTION OF NEW SECTION 158A IN THE CGST ACT, 2017 – SHARING OF INFORMATION
Provision: Insertion of new Section 158A in The CGST act, 2017
Effect: This amendment seeks to provide for prescribing manner and conditions for sharing of the information furnished by the
registered person in his return or in his application of registration or in his statement of outward supplies, or the details
uploaded by him for generation of electronic invoice or Eway bill or any other details, as may be prescribed, on the common
portal with such other systems, as may be notified
17. RETROSPECTIVE EXEMPTION TO CERTAIN ACTIVITIES AND TRANSACTIONS IN SCHEDULE III TO THE
CENTRAL GOODS AND SERVICES TAX ACT.

38
Provision: Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax
Act.
Effect:
• Schedule III of the CGST Act is being amended to give retrospective applicability to Para 7, 8 (a) and 8 (b) of the said Schedule,
with effect from 01st July, 2017, so as to treat the activities/ transactions mentioned in the said paragraphs as neither supply of
goods nor supply of services.
• It is also being clarified that where the tax has already been paid in respect of such transactions/ activities during the period
from 01st July, 2017 to 31st January, 2019, no refund of such tax paid shall be available.
18. REVISION IN THE DEFINITION OF NON‐TAXABLE ONLINE RE CIPIENT & OIDAR SERVICES.
Provision: Amendment to Section 2 of The IGST Act, 2017
Effect: This amendment seeks to revise the definition of “non‐taxable online recipient” by removing the condition of receipt of
online information and database access or retrieval services (OIDAR) for purposes other than commerce, industry or any other
business or profession so as to provide for taxability of OIDAR service provided by any person located in non-taxable territory to
an unregistered person receiving the said services and located in the taxable territory. Further, it also seeks to clarify that the
persons registered solely in terms of clause (vi) of Section 24 of CGST Act shall be treated as unregistered person for the purpose
of the said clause.
Also, clause (17) of the said section is being amended to revise the definition of “online information and database access or
retrieval services” to remove the condition of rendering of the said supply being essentially automated and involving minimal
human intervention.
19. OMISSION OF SECTION 12(8) OF THE IGST ACT, 2017

Provision: Omission of Section 12(8) of The IGST Act, 2017
12 Place of supply of services where location of supplier and recipient is in India
(8) The place of supply of services by way of transportation of goods, including by mail or courier to,‐
(a) a registered person, shall be the location of such person;
(b) a person other than a registered person, shall be the location at which such goods are handed over for their transportation.
Provided that where the transportation of goods is to a place outside India, the place of supply shall be the place of destination
of such goods.
Effect:
This amendment has been brought to align the law in line with the clarification issued on the entitlement of input tax credit
where the place of supply is determined in terms of the proviso to sub‐section (8) of section 12 of the Integrated Goods and
Services Tax Act, 2017 issued vide Circular No. 184/16/2022‐GST dated 27th December 2022.
20. OMISSION OF SEC 13(9) OF IGST ACT

Provision: Omission of Sec 13(9) of IGST Act,2017

39
(9) The place of supply of services of transportation of goods, other than by way of mail or courier, shall be the place of
destination of such goods.
Effect: Place of supply in case of transportation of goods shall be “location of recipient” instead of “destination of goods” as per
the general provisions of Sec 13 of IGST Act 2017.
NOTE: - Refer this video detail discussion https://youtu.be/fns08qUZv6Q?si=6JTuprlx_rxNjx0Z
MCA UPDATES

Extension of period of the 13.09.2023 A Committee to review the offences under Click Here
Company Law Committee the Companies Act, 2013 was constituted
vide order No. 2/1/2018-CL-V dated
13.07.2018. The report of the Committee
was submitted to the Hon'ble Corporate
Affairs Minister on 27.08.2018. The report,
inter alia, made recommendations for re-
categorizing of certain offences into 'civil
wrongs', de- clogging the NCLT and also
touched upon certain essential elements of
corporate governance. On the basis of
recommendations made by such
Committee and passage of the Companies
(Amendment) Act, 2019, relevant changes
have been made to the Companies Act,
2013.
Sale Notice - in the matter 08.09.2023 Pursuant to the order of the Hon’ble High Click Here
of M/s. Vaigai Thread Court of Karnataka, Bengaluru dated
Processors Private Limited 05.07.2023 passed in OLR No 40/2023
(In Liquidation)- Sale of online competitive bids are hereby invited
moveable and immoveable for sale of Movable and Immovable assets
Property issued by the OL / property mentioned below belonging to
Bengaluru the above said company in liquidation on as
is and where is and whatever there is basis
through e-auction platform
(https://olauction.enivida.com/) to be
conducted by M/s. RailTel Corporation of
India Limited scheduled on 29.09.2023
from 14 hours to 17 hours.
Extension of period of the 13.09.2023 Please Refer the PDF by clicking on the link Click Here
Company Law Committee for all extension of period of the Company
Law Committee.
Clarification on holding of 25.09.2023 Clarification on holding of Annual General Click Here
Annual General Meeting Meeting (AGM) and EGM through Video
(AGM) and EGM through Conferencc (VC) or Other Audio Visual
Video Conferencc (VC) or Means (OAVM) and passing of Ordinary
Other Audio. and Special resolutions by the companies
under the Companies Act, 2013 read with

40
rules made thereunder - Extension of

timeline
The stakeholders are 29.09.2023 The stakeholders are informed that the Click Here
informed that the processing of application forms for the
processing of application purpose of name reservation and
forms for the purpose of incorporation at the Central Reservation
name reservation and Centre (CRC) is faceless and randomised.
incorporation at the The applications if sent for resubmissions
Central Reservation Centre are normally not processed by the same
(CRC) is faceless and official who has processed the application
randomised at the first instance. Stakeholders may
inform the Ministry in case of any
malpractice or irregularity on the part of
any official/officer at CRC or any
professional with supporting evidences at
CVO-MCA@GOV.IN for taking action in
accordance with the extent CVC guidelines
MCA-QUOTATIONS & TENDERS

In the matter of Mantri 08.09.2023 Pursuant to the order dated 1" September Click Here
Realty Ltd. (In Prov. Liqn) 2023 passed by the Hon'ble High Court,
Bombay in OLR No.123 of 2023, offers/bids
are invited from the intending purchasers
to purchase the Movable Assets (Lot No. I
& II) situated at Mantri Serene, Off. Film
City Road, CST No. 827/D, Survey No. 239
(PT), Dindoshi, Goregaon (E), Mumbai-
400065 (In Lot No. I & II) owned by Mantri
Realty Ltd (In Prov. Liqn.), whose details are
mentioned below. The sale is on "as is
where is and whatever there is" basis and
as per inventory by inviting competitive
bids through E-Auction to be conducted by
selling agent namely M/s Railtel
Corporation of India limited a Miniratna
Central Government (PSU) under Ministry
of Railway, Government of India on its
website: https://olauction.enivida.com
and may also take help from the contacts:
Ashutosh Kumar 9355030621, Amrendra
Kumar 8448288980 & Navneet Mishra
9355030630. The intending purchasers
must register themselves on the portal 2 to
3 days prior to the last date of submission
of online Earnest Monet Deposit. The sale
is subject to confirmation by the Hon'ble
High Court. Bombay.

41
YOUTUBE UPDATES
Topic Covered Link
Income Tax Fake Deduction Notice to Salaried Employees: How to Respond Click Here FinTaxPro
Notice
Update in Eway Bill from 1 Oct 2023 | HSN reporting in E way bill Click Here FinTaxPro
Important GST Advisory: New Time Limit for E-Invoice | HSN Code Validation & Click Here FinTaxPro
2FA Updates
Tax Audit Due Date Extension Form 10B/10BB for AY 2023-24 Click Here FinTaxPro
Mastering TDS Claiming in ITR: Step-by-Step Guide | Finance Act 2023 & Form Click Here FinTaxPro
71 Updates
Important Update About Income Tax Refund for AY 2023-24 Click Here FinTaxPro
Complete Playlist of GSTR 9 Filing for FY 2022-23 Click Here FinTaxPro
Important Changes in GST from 1st Oct 2023 | Latest Updates and Impact on Click Here FinTaxPro
Businesses
New GST Notices: Building, Work Contract, Paint, Food & Motor Car ITC | Click Here FinTaxPro
Drafting Replies
GST Return Update from Oct 2023 | DRC 01B and DRC 01C Click Here FinTaxPro
Updated RCM List in GST from Oct 2023 Click Here FinTaxPro
OTHER UPDATES
NEWS MATTER SOURCE

Need robust management Reserve Bank of India (RBI) Deputy Governor M Click Here
of risk: RBI Deputy Rajeshwar Rao said that permitting a diverse set of
Governor M Rajeshwar participants in the market may help make it more
Rao vibrant and efficient. But it is in the market's
collective interest to know the risk, assess it

42
adequately, and acquire the capabilities to

manage it.
ADB commits concessional The Asian Development Bank (ADB) has assured Click Here
loan to India under Green India of providing concessional loans under the
Financing facility Green Financing facility to help the country
achieve its vision. ADB President Masasugu
Asakawa met with Finance Minister Nirmala
Sitharaman to discuss the outcome of the G20
India Presidency and ADB's contribution to the
G20 work streams.
RBI, banks plan new The Reserve Bank of India (RBI) is collaborating Click Here
features to boost digital with lenders to enhance the popularity of its
currency transactions, say central bank digital currency (CBDC), the e-rupee.
sources Features being considered include enabling digital
rupee transactions offline and linking the e-rupee
to India's Unified Payments Interface (UPI). The
RBI has urged banks to make the e-rupee
interoperable with UPI through a QR code.
What is the best time to Real estate investing has long been seen as a Click Here
invest in the real estate lucrative proposition since it offers both financial
market in India? security and the potential for capital growth.
India’s real estate industry has grown significantly
over the years as a result of favourable
government policies, increased urbanisation,
rising disposable income, and other factors. The
best moment to invest in real estate, however,
depends on carefully weighing a number of
different aspects.
Let us delve into the key aspects that can help you
identify the opportune moments to invest in real
estate in India:
1. Understanding the Real Estate Market.
2. Market Cycles and Economic Conditions.
3. Government Policies and Reforms.
4. Interest Rates and Inflation.
5. Supply and Demand Dynamics.
6. Micro and Macro Location Analysis.
7. Long-Term Investment Perspective.
Will shield industry from The government would ensure that the European Click Here
EU carbon tax: Goyal Union’s Carbon Border Adjustment Mechanism
(CBAM) or carbon tax would not hurt Indian
industry and manufacturing while making efforts
to turn the challenge posed by efforts to check
greenhouse emissions through trade into an
opportunity, Commerce and Industry Minister
Piyush Goyal said Wednesday.
“Dialogue with the European Union is progressing

well. They (EU) are working on it not as a technical
barrier to trade but as their own effort to try to

43
bring sustainability to the core of the world

agenda,” he said at an industry event.
Sodexo India kickstarts The company said it is targeting companies in the Click Here
cloud kitchen venture in ed-tech, pharma and BFSI segments. It will soon
India; expects 10 % of food start operations in Bengaluru and Pune, even as it
revenue from off-site plans to achieve 10% of its food revenue from off-
kitchens site kitchens by 2025, Sambit Sahu, MD, Sodexo
India told FE. “Our aim is to produce 60,000 meals
by 2025,” Sahu said, adding that the meals are
priced moderately high, as it is backed by celebrity
chefs with key emphasis on quality.
Over 30 lakh audit reports The Income Tax Department's e-filing portal Click Here
filed on Income Tax received over 30 lakh audit reports by September
Department portal 30, according to the tax authority of India. The
department expressed gratitude to taxpayers and
tax experts for their timely compliance. Outreach
programs were conducted to create awareness
among taxpayers, including emails, SMS, social
media, and information messages on the Income
Tax portal.
Govt has allocated Rs 100 The Indian government has allocated Rs 100 crore Click Here
cr for Aspirational Blocks for the Aspirational Blocks Programme (ABP) in
Programme this fiscal: the current financial year. The ABP aims to
Official improve governance at the block level and
enhance the quality of life of citizens.
Implemented in 500 aspirational blocks across 329
districts, the government hopes that all 500 blocks
will reach the state average in terms of
development within three years.
Centre's fiscal deficit up to In absolute terms, the fiscal deficit touched Rs Click Here
August rises to almost 36% 6.43 lakh crore between April and August,
of FY24 target compared with Rs 5.42 lakh crore a year earlier.
Until July, the Centre’s fiscal deficit had touched
33.9% of the annual target, sharply higher than
20.5% a year earlier.
India's external debt at India's external debt increased slightly to $629.1 Click Here
USD 629.1 bn at June-end: billion at the end of June 2023, with the debt-GDP
RBI ratio declining, according to data from the Reserve
Bank of India (RBI). The US dollar-denominated
debt accounted for the largest share at 54.4%,
followed by debt denominated in Indian rupees,
Special Drawing Rights (SDR), yen, and the euro.
Excluding the valuation effect, external debt
would have increased by $7.8 billion instead of
$4.7 billion. Long-term debt increased by $9.6
billion, while.
Zombie firms are rising up According to a recent study by the International Click Here
again in India Monetary Fund (IMF), corporate zombification is
on the rise globally, leading to negative effects on
healthy firms. In India, the focus on addressing
zombie firms was temporarily abandoned during

44
the COVID-19 pandemic, allowing these unviable

businesses to continue operating. This has
resulted in a duopoly emerging in sectors such as
telecommunications and aviation, benefiting
dominant players like Jio Infocomm and IndiGo.

45
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46
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COMPLIANCE NEWSLETTER

Volume 10 (Period October 2023)

Income Tax & Updates

©️ Fintaxpro Advisory LLP

Period – October, 2023

Published by – FinTaxPro Advisory LLP

©️FINTAXPRO ADVISORY LLP

NEWSLETTER | Volume 10 (Period October 2023)

“We can see future by introspecting our present”

NEWSLETTER | Volume 10 (Period October 2023)

Compliance Calendar .......................................................................................................................................................................... 5

NEWSLETTER | Volume 10 (Period October 2023)

NEWSLETTER | Volume 10 (Period October 2023)

Due date Form to be Period Who should file?

10.10.2023 GSTR 8 Sept-23 GSTR-8 is a return to be filed by the e-commerce operators

13.10.2023 GSTR 6 Sept-23 Input Service Distributors

28.10.2023 GSTR-11 Sept-23 UIN holders

25.10.2023 PMT 06 Sept-23 GST Challan Payment for September Month.

NEWSLETTER | Volume 10 (Period October 2023)

NEWSLETTER | Volume 10 (Period October 2023)

NEWSLETTER | Volume 10 (Period October 2023)

25.10.2023 Form Sept-23 Return of Employee's qualifying/leaving & Monthly

1,2,10,21 and remittance Statement.

15.10.2023 Form ADT-1 15 days Appointment of Auditor

NEWSLETTER | Volume 10 (Period October 2023)

INCOME TAX UPDATES

Detail DATE MATTER SOURCE

NEWSLETTER | Volume 10 (Period October 2023)

classes of non-banking financial companies

29.09.2023 In exercise of the powers conferred by Click Here

NEWSLETTER | Volume 10 (Period October 2023)

Detail DATE MATTER SOURCE

NEWSLETTER | Volume 10 (Period October 2023)

Q1: During e-Verification using DSC, I am

NEWSLETTER | Volume 10 (Period October 2023)

Q4: The key person associated with the

SEC 199 READ WITH RULE 37BA – CREDIT OF TDS

NEWSLETTER | Volume 10 (Period October 2023)

IN FY 2022-23 TDS WOULD BE CARRY FORWARD AS FOLLOWS -

IN FY 2023-24 TDS WOULD BE BROUGHT FORWARD AS FOLLOWS

CAN WE BROUGHT FORWARD TDS CREDIT WITHOUT CARRY FORWARD?

NEWSLETTER | Volume 10 (Period October 2023)

[TO BE EFFECTIVE FROM 1-OCT-2023]

NEWSLETTER | Volume 10 (Period October 2023)

NOTIFICATION/CIRCULAR DATE MATTER SOURCE

NEWSLETTER | Volume 10 (Period October 2023)

NEWSLETTER | Volume 10 (Period October 2023)

33/2022-Customs (ADD) 12.09.2023 Corrigendum-Corrigendum dated Click Here

CENTRAL EXCISE UPDATES

NOTIFICATION/CIRCULAR DATE MATTER SOURCE

GST ADVISORY ISSUED BY GSTIN

S.NO. NOTIFICATION/CIRCULAR DATE SOURCE

1. ADVISORY: TIME LIMIT FOR REPORTING INVOICES ON THE IRP PORTAL

NEWSLETTER | Volume 10 (Period October 2023)

2. ADVISORY: GEOCODING FUNCTIONALITY FOR THE ADDITIONAL PLACE OF BUSINESS

3. Here is a brief guide on how to utilize this feature:

NEWSLETTER | Volume 10 (Period October 2023)

4.Please plan your activities accordingly.

• Visit the e-Invoice Portal at https://einvoice.gst.gov.in

• Log in using your GST Portal credentials.