Rules that affect your books.
A short list of points we are confident about, each labelled with jurisdiction and effective date. Laws change: always check the official notification or your adviser before acting.
Payments to micro and small enterprises (Section 43B(h))
A deduction for amounts owed to micro and small enterprises is allowed only when paid within the time allowed under the MSMED Act (up to 45 days with an agreement); otherwise in the year of payment.
Check the official notification / current law before relying on this.
Read moreE-invoicing threshold at ₹5 crore aggregate turnover
Businesses whose aggregate turnover in any financial year since 2017-18 exceeded ₹5 crore must generate e-invoices (IRN) for B2B supplies, subject to notified exemptions.
Check the official notification / current law before relying on this.
Read moreInput tax credit and GSTR-2B
Input tax credit claimed in GSTR-3B is expected to be supported by the auto-generated GSTR-2B statement — monthly reconciliation protects your credit.
Check the official notification / current law before relying on this.
Read moreHow to track official changes
- GST: notifications and circulars on the CBIC website and GST portal news
- Income tax: notifications and circulars on the Income Tax Department website
- Company law: notifications on the Ministry of Corporate Affairs website
- MSME: notifications on the Ministry of MSME / Udyam portal
- Banking: RBI master directions and circulars
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