CAclubindia Articles

Tran-1 Transitional credit under GST - Can dual audits defeat statutory limitation?

Raj Jaggi 09 March 2026 at 09:05

Understand whether State GST authorities can question transitional input tax credit already examined by Central GST officers. This article explains the legal framework of Section 140, Rule 117, limitation under Sections 73 & 74, and key judicial rulings through the case study of Aayra Ltd. under the GST regime.

Is an ESOP the Optimal Exit Strategy? A Comprehensive Guide to Employee Ownership Transitions in India

Affluence Advisory 09 March 2026 at 08:54

Explore how ESOPs are emerging as a strategic exit option for Indian promoters offering liquidity, tax efficiency, employee ownership and legacy preservation under India’s regulatory framework.

From CA to IAS Aspirant: Bhopal Candidate Cracks UPSC 2025 with AIR 274

Shivani 07 March 2026 at 15:59

A Bhopal aspirant, Anjani Mishra, secured AIR 274 in the UPSC Civil Services Examination on the first attempt after leaving a Chartered Accountant job. Read the inspiring preparation journey and key lessons!

Continuous Supply Of Goods Under GST: Why Frequent Deliveries Alone Are Not Enough

Raj Jaggi 07 March 2026 at 09:13

Understand when frequent deliveries qualify as continuous supply of goods under GST. Learn the conditions under Section 2(32) of the CGST Act, invoicing rules, and practical implications using the Harpreet Traders–Aarya Ltd. example.

ITR-U After Reassessment Notice? Budget 2026 Proposal Explained with Tax Cost & Penalty Protection

CA Varun Gupta 07 March 2026 at 06:57

Finance Bill 2026 proposes allowing ITR-U filing after a Section 148 notice, offering taxpayers a compliance route during reassessment. Understand the pros, costs, additional tax burden, and penalty relief under Sections 139(8A), 140B, and 270A before deciding between settlement and litigation.

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.