GST Notices: Complete Guide to Notice Codes and How to Respond Getting a GST notice can be stressful, but most notices are routine requests for information, clarification or payment. The real danger is ignoring them. A missed deadline can lead to best-judgment assessments, cancelled registration, refund rejection, penalties and even recovery action. This guide explains […]
FAST-DS 2026: Foreign Assets of Small Taxpayers – Disclosure Scheme (Complete Guide) By [Devendra Singhal] • Updated: 2 November 2026 • Reading time: about 12 minutes Quick answer: FAST-DS 2026 is a one-time, voluntary Income Tax disclosure scheme under Chapter IV (Sections 130–144) of the Finance Act, 2026. It lets eligible small taxpayers declare undisclosed […]
Blocked ITC Section 17(5): Before vs After 57th GST Council Quick Answer The 57th GST Council Meeting (8 October 2026) recommended amending Section 17(5) of the CGST Act, 2017 to allow Input Tax Credit (ITC) on outdoor catering, health and life insurance, telecom towers, pipelines laid outside factory premises, free samples, and goods destroyed or […]
Foreign Assets Disclosure Scheme 2026: Form 1 Guide QUICK ANSWER What is FADS 2026? The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (also called FAST-DS) is a one-time scheme under Chapter IV of the Finance Act, 2026. It lets eligible taxpayers declare specified undisclosed foreign assets and foreign income online through Form 1 on […]
GST 3-Year Cutoff Rule: Pending Returns Locked, ITC at Risk If your books show GST returns that were never filed for 2022 or earlier, the portal may already be closed to you. Since the three-year limit went live, the GST system simply refuses late returns once that window passes. Paying a late fee does not […]