Vardhman Taxcon

Business Listing Proposal

Dear Business Owner,

We invite you to list your business on BizzXchange, a platform connecting business owners with genuine buyers, investors, and strategic partners across India.

Benefits of Listing:

• Reach qualified buyers and investors nationwide
• Increase visibility for your business opportunity
• Confidential and professional listing process
• Support for business sale, investment raising, and expansion

List your business today and unlock new growth opportunities through BizzXchange.

*BizzXchange*
www.BizzXchange.com
Buy • Sell • Invest • Grow

💰 9 Golden Rules of Personal Finance

Old Form 49A has been replaced with New Forms 93 and 94.

✅Form 93 – PAN allotment application for individual Indian citizens.

✅Form 94 – PAN allotment application for Indian entities/companies.

*How to Use the IMS Offline Utility (v1.0)*

✅*Download: Access the IMS section on the GST portal to download the invoice records.*

⚡*Process Offline: Open the downloaded file in the Excel-based tool,*
*update the status as action column (e.g., Accept/Reject) for the invoices.*

🎯*Upload: Use the tool to upload the updated Excel file to the GST portal.*

💻*Finalize: The actions will be reflected in the taxpayer's GSTR-2B, influencing the final GSTR-3B filing.*

*Stay tuned for more updates and detailed verification procedures related IMS Offline Utility (v1.0).*

*More details follows*

👉 “IMS is like a filter – only the invoices you approve will be used for ITC.” :-Tax Remedy

Levels of Proceedings under GST 👆

*Assessee’s refund for July 2024 was rejected by treating support services to overseas group entities as “intermediary services”, but the Bombay High Court set aside the order and remanded the matter for fresh decision after proper examination of the agreements and law.*

*Issue:*
Whether the services supplied by the Assessee to its overseas group companies were in the nature of *“intermediary services”* under the IGST law, and therefore not “export of services”, or whether the refund rejection order was liable to be set aside for non-consideration of the Assessee’s case and lack of proper examination.

*Rule:*
For deciding whether a supply is an “export of services” or falls within the scope of “intermediary services”, the authority is required to examine the real nature of the contractual arrangement, the role performed by the supplier, and the applicability of Sec. 13(8) of the IGST Act. An order rejecting refund under Sec. 54 cannot stand if it is passed without due consideration of the Assessee’s agreements, submissions, and the binding principles flowing from earlier judgments and CBIC clarifications. A reasoned order, consistent with principles of natural justice, is necessary.

*Application:*
The Assessee had contended that it rendered administrative and sales support services to overseas group entities on a principal-to-principal basis, for cost-plus consideration received in convertible foreign exchange, and that in its own earlier case under the service tax regime, such services had already been held not to be intermediary services. The refund claim of Rs. 56,11,885/- for July 2024 was rejected by the Department on the ground that the Assessee was an intermediary. However, the High Court found that the impugned order required reconsideration because the authority had not properly examined the Assessee’s agreements and contentions, particularly in the light of Sec. 13(8) of the IGST Act, the CBIC circulars dated 20.09.2021, and the law laid down in Sundyne Pumps and Vistex Asia Pacific. Even the Department fairly accepted that remand would be appropriate.

Difficulty in filing appeals on the GST portal in cases where adjudication orders reflect "NIL" demand due to prior voluntary payment – reg.

*TRACES portal revamped*

For any compliance related to FY 2025-26 or prior, select "Compliance inder Income Tax Act, 1961" Menu.

New update ✅

Rollout of Forms under Income Tax Rule, 2026

To support the transition to the Income Tax Rules, 2026, the new Income Tax Forms have been made available on the e‑Filing portal.

New Forms can be accessed via: e-File → Income Tax Forms → File Income Tax Forms → Forms under Income Tax Act, 2025 → Select the form (as applicable).