TDS Payment FY 2026-27: New Section Codes
Introduction From FY i.e. TY 2026-27, the landscape of Tax Deducted at Source (TDS) compliance has undergone a major update with the introduction of new section codes. These codes are now mandatory for deductors to select while making TDS payments, ensuring precise categorization of transactions and improved reconciliation with returns. The change is aimed at […]
Advisory on compulsory confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B for Feb 2026 tax period!
Introduction The Goods and Services Tax Network (GSTN) has introduced a procedural update in Form GSTR-3B to ensure accurate reporting of tax liabilities across periods. This change directly impacts how taxpayers confirm liabilities that pertain to previous tax periods but are discharged in the current one. Understanding this update is crucial for compliance and avoiding […]
GSTN Advisory: Key Enhancements in GSTR-3B Filing Effective from February 2026 Tax Period
Introduction The Goods and Services Tax Network (GSTN) had earlier announced that several important enhancements in the filing of GSTR-3B returns would take effect from the January 2026 tax period. However, it has now been clarified that these changes will be implemented starting from the February 2026 tax period. The enhancements are aimed at […]
GST Update: Withdrawal from Rule 14A from 21 Feb 2026
Introduction On February 21, 2026, GSTN rolled out a new online facility allowing taxpayers to withdraw from the option availed under Rule 14A of the CGST Rules. This is a significant compliance update, as it provides clarity and a structured process for opting out through the filing of Form GST REG-32 on the GST Portal. […]
Tobacco Goods- GST to be paid on RSP from Feb 1, 2026
Introduction On January 23, 2026, the Goods and Services Tax Network (GSTN) released an important advisory regarding the reporting of taxable value and tax liability under Retail Sale Price (RSP)-based valuation for notified tobacco goods. This update is highly relevant for businesses engaged in the supply of tobacco products, as it directly impacts how invoices, […]
GST Reforms 2025: Part II
Introduction 2025 has truly been a turning point for GST in India. A host of reforms were introduced to make the system simpler, more equitable, and easier to navigate. From rationalising tax rates on essential goods to fixing inverted duty structures and easing compliance for businesses, these changes have touched households, MSMEs, and professionals alike. […]