Rectification of mistake in TRAN-1: The difficulty in amending the Tran-1 is on account of the Architecture of the Web Portal which did not permit the petitioner to make such amendments. The petitioner cannot be found fault. Input Tax Credit once availed are indefeasible and cannot lapse – Madras HC.
CBDT extends due dates for filing of ITRs & various reports of audit for AY 2021-22.
All IECs which have not been updated after 01.07.2020 shall be de-activated with effect from 01.02.2022. Any IEC so de-activated would have the opportunity for automatic re-activation.
The total number of sea ports exempted for PSIC for import of metallic scrap under Para 2.54 of HBP have been increased from existing 08 to 10.
Section 403 of the Companies Act – Provisions relating to Filing Fees – amended with effect from 01.07.2022. Related rules amended with effect from 01.07.2022 to levy higher additional fees.