Various statutory Updates

 *Updates*

1) *Tax Audit UDIN Validation:* There are certain inadvertent errors while uploading UDIN. On April 28, 2022, there is meeting of UDIN, DTC, & CBDT to consider solution. 

2) *Section 148 controversy, had not decided by Supreme Court in favour of Revenue*. Supreme court had only reserved its judgement. Order to be pronounced later. 

3) MSME-1 form has been updated.

4) Nidhi company (amendment) Rules, 2022: https://www.mca.gov.in/content/mca/global/en/notifications-tender/whats-new.html

5) CBDT has notified additional conditions under the seventh proviso to section 139(1) whereby return filing is made mandatory in case turnover from business or gross receipt from profession exceeds Rs. 60 lakh or Rs. 10 lakh, respectively. Further, return filing shall be mandatory if the amount of tax deducted and collected in case of a person exceeds Rs. 25,000 or deposit in saving bank account(s) is Rs. 50 lakh or more.

6) Now PAN, email, address, and UID of members would not be available for any inspection or taking extract of copies: MCA | NOTIFICATION NO. G.S.R. 279(E) DT 

7) *GST 2- Factor Authentication for e-Way Bill and e-Invoice System:* To enhance the security of e-Way Bill/ e-Invoice System, NIC is introducing a 2-Factor Authentication for logging in to e-Way Bill/ e-Invoice system. In addition to username and password, OTP will also be authenticated for login. On logging to e-Waybill System kindly go to Main Menu - 2 Factor Authentication and confirm the registration. Once confirmed, the system will ask OTP along-with username and password. The OTP authentication is based on individual user accounts. The sub users of GSTIN will have separate authentication depending on their registered mobile number in the e-Way Bill/ e- Invoice System. Once you have registered for 2 Factor authentication, then the same is applicable for both e-Way bill and e- Invoice system. You may de-register this facility anytime using the link ‘2 Factor Authentication Registration / Deregistration'. This facility is presently being introduced on optional basis; however, in future it will be made mandatory. https://docs.ewaybillgst.gov.in/Documents/2FA_help.pdf


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