Welcome to Chennai Audit

Chennai Audit started at 2009 in porur, Chennai Audit is headed by SIVA RAJ.G, B.com, CA, MBA. we grown up with our professional team and hardwork. Our aim, have to cover all over tamil nadu. we strongly believe of us and everyone on the team plays a important role in achieving our shared dreams and ambitions.

We planed to help New Entrepreneurs with simple idea that doing business in South India should be easy and range of business services from incorporation to tax filing.

Chennai Audit is the largest online business services platform in South India to helping business people to easily start and manage their business by the legal advice and regulatory requirements.

we have experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Ex-Bankers and Financial Experts all over India to provide a comprehensive range of services for small, large and medium sized enterprises.

News Section

News

14 Oct 24
Text of the Circular has been mentioned below
CBIC Issues Clarification on GST Rates and Classification of Goods Following 54th GST Council Meeting
13 Oct 24
Regularizing payment of GST on services of film distributors or sub-distributors who act on a principal basis to acquire and distribute films
Regularizing payment of GST on certain support services provided by an electricity transmission or distribution utility
CBIC Issues Clarifications on GST Applicability for Specific Services
Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions
12 Oct 24
CBIC Introduces New Key Changes to GST Registration Regarding Suspension and Cancellation
GST ITC Reconciliation in GSTR 9 Should be Done Using GSTR 2B, Not GSTR 2A
CBIC Revises Penal Provisions in Form GST INS-01 to Align with the Bharatiya Nyaya Sanhita, 2023
11 Oct 24
CBIC Updates Penal Provisions in Form GST INS-01 in Line with Bharatiya Nyaya Sanhita, 2023
Union Minister Pankaj Chaudhary Inaugurates GST Bhawan in Delhi, Highlights Simplified Tax Compliance Initiatives
Delhi HC: GST Exemption on Foreign Reinsurance for Govt Insurance Schemes Applies Retrospectively from July 1, 2017
Delhi ITAT Quashes Reassessment, Rules Section 147 Cannot Be Invoked for Mere Change of Opinion
10 Oct 24
RBI Keeps Repo Rate Unchanged at 6.50%, Shifts Stance to Neutral Amid Inflation Concerns
CBIC Introduces Rule 47A to CGST Rules: New 30-Day Time Limit for Issuing Tax Invoices Under RCM
CBIC Notifies Reduction in Pre-Deposit Requirement for GST Appeals Effective 1st Nov 2024
Central Tax Notification No. 22/2024 to Rectification on Incorrect GST ITC U/S 16
J&K HC Voids Deficiency Memo; GST Refund Limitation Commences From Original Application Date, Not Follow-Up
09 Oct 24
CBDT Forms Committee to Modernize Income Tax Laws and Reduce Compliance
GSTN Introduces New Payment Methods on GST Portal, Adds Two New Banks for Payments
CBIC Waives Late Fees for TDS Filers u/s 51 of CGST Act on Delayed GSTR-7 Filings Since June 2021
CBIC Notifies GST Exemptions for Vocational Education and Power Utility Services - Effective October 2024
CBDT Extends Form 10B/10BB Filing Deadline to 10th November 2024
08 Oct 24
TN AAR: 28% GST Applies to Plastic Rope Handles, Vent Plugs, and Split Tops and Bottoms
Delhi ITAT Cancels Tax Notice U/S 148 Due to Mechanical Approval by the PCIT for Reassessment
ICAI issues Corrigendum to 75th Annual Accounts following Typographical Error
Income Tax Refund Delays: FM Nirmala Sitharaman calls on Income Tax Dept on ‘X’ for Resolution of Complaint
07 Oct 24
Non-Payment of dues for 3 Months not Valid Ground u/s 29 of CGST Act: Delhi HC quashes GST Registration Cancellation [Read Order]
CBIC extends CVD on Copper Wire Rod Imports from Indonesia, Malaysia, Vietnam, and Thailand to 7th July 2025
FM Nirmala Sitharaman Urges IT Department to Address Tax Refund Delay Complaint
06 Oct 24
GST Instruction No. 04/2024 on Mapping/De-Mapping of Officers on the GSTN Portal
Ministerial Committee May Reduce GST on Medicines, Insurance, and Tractors to 5% by Next Month
Chhattisgarh HC: Unexplained Deposits in Bank Accounts Will Be Considered Income U/S 68 and 69A
01 Oct 24
GSTN Explains Legality of Notices and Orders From Tax Officials That Do Not Include Digital Signatures
How is CBDT Monitoring High-value Credit Card Spending
Centre May Launch Mechanism to Address Fake GST ITC Claims by the End of Nov
30 Sep 24
Bengaluru Court Orders FIR Against FM Nirmala Sitharaman Over Electoral Bonds Allegations
Income Tax Department Announces Special Drive to Address Taxpayers` Grievances in October
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Odisha
Restoration of GST Returns data on Portal
29 Sep 24
ICICI Prudential Life Insurance Receives Rs 361.23 Crore Income Tax Order for AY 2022-23
CBDT Extends Deadline for Filing Audit Reports for FY 2023-24 to 7th October 2024
GSTN Explains Legality of Notices and Orders From Tax Officials That Do Not Include Digital Signatures
Patna HC: 3-Year Limitation Period Commences from Actual GST Annual Return Filing Date, Not the Extended Due Date
28 Sep 24
SC Asks CBDT to Fix Income Tax Software Problems to Avoid Harassment of Assessee
Supreme Court Dismisses 573 Direct Tax Cases Due to Revised Monetary Limits
GoM Recommends Higher GST Rates on Textiles and Apparel, and Lower Rates for Educational Materials
27 Sep 24
MCA Amends Companies (Accounts) Rules for Separate Filing of CSR-2 Form
Traders Must Save GST Return Data Older Than September 2017 Before 01st Oct
55th GST Council Meeting Focuses on Insurance Premiums; GoM Defers Rate Rationalization
GSTN Issues Advisory on Issuance of Notices/Orders without Digital Signatures of the Issuing Authorities

14 Oct 24

Text of the Circular has been mentioned below

CBIC Issues Clarification on GST Rates and Classification of Goods Following 54th GST Council Meeting

13 Oct 24

Regularizing payment of GST on services of film distributors or sub-distributors who act on a principal basis to acquire and distribute films

Regularizing payment of GST on certain support services provided by an electricity transmission or distribution utility

CBIC Issues Clarifications on GST Applicability for Specific Services

Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions

12 Oct 24

CBIC Introduces New Key Changes to GST Registration Regarding Suspension and Cancellation

GST ITC Reconciliation in GSTR 9 Should be Done Using GSTR 2B, Not GSTR 2A

CBIC Revises Penal Provisions in Form GST INS-01 to Align with the Bharatiya Nyaya Sanhita, 2023

11 Oct 24

CBIC Updates Penal Provisions in Form GST INS-01 in Line with Bharatiya Nyaya Sanhita, 2023

Union Minister Pankaj Chaudhary Inaugurates GST Bhawan in Delhi, Highlights Simplified Tax Compliance Initiatives

Delhi HC: GST Exemption on Foreign Reinsurance for Govt Insurance Schemes Applies Retrospectively from July 1, 2017

Delhi ITAT Quashes Reassessment, Rules Section 147 Cannot Be Invoked for Mere Change of Opinion

10 Oct 24

RBI Keeps Repo Rate Unchanged at 6.50%, Shifts Stance to Neutral Amid Inflation Concerns

CBIC Introduces Rule 47A to CGST Rules: New 30-Day Time Limit for Issuing Tax Invoices Under RCM

CBIC Notifies Reduction in Pre-Deposit Requirement for GST Appeals Effective 1st Nov 2024

Central Tax Notification No. 22/2024 to Rectification on Incorrect GST ITC U/S 16

J&K HC Voids Deficiency Memo; GST Refund Limitation Commences From Original Application Date, Not Follow-Up

09 Oct 24

CBDT Forms Committee to Modernize Income Tax Laws and Reduce Compliance

GSTN Introduces New Payment Methods on GST Portal, Adds Two New Banks for Payments

CBIC Waives Late Fees for TDS Filers u/s 51 of CGST Act on Delayed GSTR-7 Filings Since June 2021

CBIC Notifies GST Exemptions for Vocational Education and Power Utility Services - Effective October 2024

CBDT Extends Form 10B/10BB Filing Deadline to 10th November 2024

08 Oct 24

TN AAR: 28% GST Applies to Plastic Rope Handles, Vent Plugs, and Split Tops and Bottoms

Delhi ITAT Cancels Tax Notice U/S 148 Due to Mechanical Approval by the PCIT for Reassessment

ICAI issues Corrigendum to 75th Annual Accounts following Typographical Error

Income Tax Refund Delays: FM Nirmala Sitharaman calls on Income Tax Dept on ‘X’ for Resolution of Complaint

07 Oct 24

Non-Payment of dues for 3 Months not Valid Ground u/s 29 of CGST Act: Delhi HC quashes GST Registration Cancellation [Read Order]

CBIC extends CVD on Copper Wire Rod Imports from Indonesia, Malaysia, Vietnam, and Thailand to 7th July 2025

FM Nirmala Sitharaman Urges IT Department to Address Tax Refund Delay Complaint

06 Oct 24

GST Instruction No. 04/2024 on Mapping/De-Mapping of Officers on the GSTN Portal

Ministerial Committee May Reduce GST on Medicines, Insurance, and Tractors to 5% by Next Month

Chhattisgarh HC: Unexplained Deposits in Bank Accounts Will Be Considered Income U/S 68 and 69A

01 Oct 24

GSTN Explains Legality of Notices and Orders From Tax Officials That Do Not Include Digital Signatures

How is CBDT Monitoring High-value Credit Card Spending

Centre May Launch Mechanism to Address Fake GST ITC Claims by the End of Nov

30 Sep 24

Bengaluru Court Orders FIR Against FM Nirmala Sitharaman Over Electoral Bonds Allegations

Income Tax Department Announces Special Drive to Address Taxpayers` Grievances in October

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Odisha

Restoration of GST Returns data on Portal

29 Sep 24

ICICI Prudential Life Insurance Receives Rs 361.23 Crore Income Tax Order for AY 2022-23

CBDT Extends Deadline for Filing Audit Reports for FY 2023-24 to 7th October 2024

GSTN Explains Legality of Notices and Orders From Tax Officials That Do Not Include Digital Signatures

Patna HC: 3-Year Limitation Period Commences from Actual GST Annual Return Filing Date, Not the Extended Due Date

28 Sep 24

SC Asks CBDT to Fix Income Tax Software Problems to Avoid Harassment of Assessee

Supreme Court Dismisses 573 Direct Tax Cases Due to Revised Monetary Limits

GoM Recommends Higher GST Rates on Textiles and Apparel, and Lower Rates for Educational Materials

27 Sep 24

MCA Amends Companies (Accounts) Rules for Separate Filing of CSR-2 Form

Traders Must Save GST Return Data Older Than September 2017 Before 01st Oct

55th GST Council Meeting Focuses on Insurance Premiums; GoM Defers Rate Rationalization

GSTN Issues Advisory on Issuance of Notices/Orders without Digital Signatures of the Issuing Authorities

Due Date Reminder

Jan	Feb	Mar	Apr	May	June
July	Aug	Sep	Oct	Nov	Dec
All

18 Oct 24 Payment of tax of Jul-Sep quarter for taxpayers under Composition Scheme.

20 Oct 24 Monthly Return by persons outside India providing online information and data base access or retrieval services, for September.

20 Oct 24 To add/amend particulars (other than GSTIN) in GSTR-1 of Sep. It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B. For quarterly filers, it can be filed till 22/24 Oct.

20 Oct 24 Summary Return cum Payment of Tax for September by Monthly filers. (other than QRMP).

22 Oct 24 Summary Return of Jul-Sep quarter by Quarterly filers in 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 Oct 24 Summary Return of Jul-Sep quarter by Quarterly filers in Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh,Chandigarh or Delhi.

25 Oct 24 Half yearly Details of goods/capital goods sent to & from job worker for Apr-Sep for turnover above 5 cr.

26 Oct 24 Filing of Cost Audit Report for 2023-24 by Company to whom cost audit is applicable. (within 30 days of submission by Cost Auditor report)

28 Oct 24 Return for September by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.

29 Oct 24 Filing of financial statements by Cos (Other than OPCs) for FY 2023-24 with the ROC. (30 days from AGM.)

29 Oct 24 Report on Annual General Meeting by Listed company when AGM held on 30 Sep. (within 30 days from completion of AGM).

29 Oct 24 Statement of Accounts and Solvency for 2023-24 to be filed by every LLP.

30 Oct 24 Half-yearly return by Nidhi Companies for April to September.

30 Oct 24 Issue of TCS certificate by All Collectors for September quarter.

30 Oct 24 Deposit of TDS u/s 194-IA on payment made for purchase of property in September.

30 Oct 24 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in Sep. (Else TDS is to be deposited on annual basis by 30 April of next year.)

30 Oct 24 Deposit of TDS on certain payments made by individual/HUF u/s 194M for September.

30 Oct 24 Deposit of TDS on Virtual Digital Assets u/s 194S for September.

31 Oct 24 Specified Companies(receiving supplies from Micro & Small Enterprises whose outstanding dues exceed 45 days) to file details of all outstanding dues to Micro or Small enterprises suppliers for Apr to Sep. Details of even those MSME vendors to be given, to whom payment was made whether within 45 days or later.

31 Oct 24 Avail QRMP for Oct-Dec onwards.

31 Oct 24 Taxpayers to declare opening balance for these new GST ledgers.

31 Oct 24 Report cumulative ITC reversal (ITC that has been reversed earlier and has not yet been reclaimed) as opening balance for Electronic Credit Reversal and Re-claimed Statement.

31 Oct 24 Online Application by Domestic Co. (other than to whom transfer pricing provisions are applicable) for exercise of option u/s 115BAA (22% tax)

31 Oct 24 Online Application by new Manufacturing Domestic Co. (other than to whom transfer pricing provisions are applicable) filing ITR for first time, for exercise of option u/s 115BAB (15% tax).

31 Oct 24 Online Application by Individual/HUF carrying business / profession, for exercise of option u/s 115BAC(1), where due date of ITR is 31 Oct.

31 Oct 24 Online Application by resident co-operative society, for exercise of option u/s 115BAD(1) where due date of ITR is 31 Oct.

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