September, 2022 – Issue No. IV

GST

Report of physical verification of premises to be uploaded on the portal – Delhi High Court.

INCOME TAX

New Rule providing for modified return of income to be furnished by a successor entity to a business reorganisation inserted.

CBDT has issued revised guidelines for compounding of offences.

CBDT has issued additional guidelines for removal of difficulties under sub-section (2) of section 194R.

CUSTOMS
Classification of goods that undertake lifting and handling functions and have mobility as a function – CBIC issues clarification.
DGFT

Export of consignments of broken rice as permissible under Notification No.31 dated 08.09.2022 has been extended till 30th September, 2022.

COMPANIES ACT

CSR Rules revised – businesses having any amount in its ‘unspent corporate social responsibility account’ should set up a CSR committee to oversee the implementation of its CSR obligations.

The Indian Tax Advisors