CAclubindia Articles

Continuous supply of services under GST: Why ongoing services are not automatically "Continuous"

Raj Jaggi 06 March 2026 at 09:03

Understand when services qualify as Continuous Supply of Services under GST. Learn the conditions under Section 2(33) of the CGST Act, contract duration rules, periodic payment requirements, invoicing under Section 31(5) and key compliance risks for businesses.

ITR-U Under Finance Bill 2026 Explained: Loss Adjustment, Section 148 Filing and Penalty Relief

CA Varun Gupta 06 March 2026 at 08:12

Union Budget 2026 proposes key changes to the ITR-U (Updated Return) framework under the Income-tax Act, 1961, allowing reduction of losses, permitting filing after Section 148 notices, introducing an additional 10% levy, and granting penalty protection under Section 270A.

UPI Transaction Limits Starting From April 2026

Chaitra Seetharam 05 March 2026 at 11:28

UPI rules for 2026 explained: ₹1 lakh daily limit for most users, ₹5 lakh for select payments, ₹5,000 cap for new users, plus new ATM withdrawal charges and enhanced security rules effective April 1, 2026.

GST Implications on Reimbursement Received on Cancellation of Export Order

CA Amit Harkhani 05 March 2026 at 09:34

GST implications of reimbursement received on cancellation of an export order explained. Analysis of whether such compensation qualifies as supply under Section 7 of the CGST Act, applicability of Schedule II (tolerating an act), and why it may not be taxable or treated as export of service under GST law.

Tax Compliance Tracker for the month of March 2026

CS Lalit Rajput 05 March 2026 at 09:09

Stay updated with key Income Tax and GST compliance deadlines for March 2026, including advance tax payment, TDS certificates, Form 67, updated return filing for AY 2021-22 and GST returns such as GSTR-1, GSTR-3B, GSTR-6, GSTR-7, and GSTR-8.

The Portal Will Block You: A CA's Survival Guide to ITC Reconciliation After GSTR-3B Hard-Locking

Kavish Chawla 05 March 2026 at 06:56

With GSTR-3B hard-locking and IMS fully operational, GST reconciliation is entering a no-error zone. Learn the 7-step pre-filing checklist every CA handling 30-50 clients must follow to prevent ITC mismatches, locked credits and compliance risks in 2026.