@mudraforge/statutory 2.11.0 → 2.12.1

package/okf/direct_tax/tds_goods_393/section.json

@@ -7,22 +7,24 @@
     "section 393",
     "sec393",
     "sec 393",
+    "393(1)(table 1)(sl 8)(ii)",
     "393(1)(table 8)(ii)",
+    "ITA2025_SEC393_TABLE1_SL8_II",
     "goods tds 2025",
     "purchase of goods 2025"
   ],
   "governingStatute": "Income-tax Act, 2025 (Act No. 1 of 2025)",
-  "statutorySection": "Section 393(1), Table 8, Item (ii)",
+  "statutorySection": "Section 393(1), Table 1, Sl. No. 8(ii)",
   "predecessorStatute": "Income-tax Act, 1961",
   "predecessorSection": "Section 194Q",
-  "title": "Deduction of tax at source on payment of a certain sum for purchase of goods",
+  "title": "Deduction of tax at source on payment of a certain sum for purchase of goods (Table 1, Sl. No. 8(ii))",
   "effectivePeriod": {
     "validFrom": "2026-04-01",
     "validTo": "OPEN_ENDED",
     "annualReset": "Every April 1 (Cumulative Purchases Reset Annually)",
     "sunsetNotes": "In force from 1 April 2026 as statutory successor to Section 194Q of the Income-tax Act, 1961."
   },
-  "plainTextSummary": "Under Section 393(1) Table 8 Item (ii) of the Income-tax Act, 2025 (effective 1 April 2026), any buyer whose total sales, gross receipts, or turnover from business exceeds ₹10 Crore in the preceding financial year, responsible for paying any sum to a resident seller for purchase of goods exceeding ₹50 Lakhs in the current financial year, must deduct 0.1% TDS on the amount exceeding ₹50 Lakhs at the time of credit to seller account or payment, whichever is earlier. Penalty rate under Section 397(2) Proviso is 5% if PAN is not furnished or is inoperative.",
+  "plainTextSummary": "Under Section 393(1), Table 1, Sl. No. 8(ii) of the Income-tax Act, 2025 (effective 1 April 2026), any buyer whose total sales, gross receipts, or turnover from business exceeds ₹10 Crore in the preceding financial year, responsible for paying any sum to a resident seller for purchase of goods exceeding ₹50 Lakhs in the current financial year, must deduct 0.1% TDS on the amount exceeding ₹50 Lakhs at the time of credit to seller account or payment, whichever is earlier. Penalty rate under Section 397(2) Proviso is 5% if PAN is not furnished or is inoperative.",
   "keyStatutoryThresholds": {
     "buyerPriorYearTurnoverCr": 10,
     "annualPurchaseThresholdInr": 5000000,
@@ -33,7 +35,7 @@
   "officialCitations": [
     {
       "authority": "Parliament of India / Ministry of Finance",
-      "instrument": "Income-tax Act, 2025 Section 393(1), Table 8, Item (ii)",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 8(ii)",
       "subject": "TDS on purchase of goods exceeding ₹50 Lakhs",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
     },

package/okf/direct_tax/tds_individual_contract_194m/section.json

@@ -14,13 +14,13 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194M",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 5, Item (m)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 6(i) / 6(iii) / 1(ii)",
   "title": "Payment of Certain Sums by Certain Individuals or Hindu Undivided Family (Section 194M)",
   "effectivePeriod": {
     "validFrom": "2019-09-01",
     "validTo": "2026-03-31",
-    "annualReset": "Every April 1 (Cumulative ,150 Lakh Threshold)",
-    "sunsetNotes": "Transitions to Section 393(1) of the Income-tax Act, 2025 effective 1 April 2026."
+    "annualReset": "Every April 1 (Cumulative ₹50 Lakh Threshold)",
+    "sunsetNotes": "Transitions to Section 393(1), Table 1 of the Income-tax Act, 2025 effective 1 April 2026."
   },
   "plainTextSummary": "Any person, being an individual or a Hindu undivided family (other than those who are required to deduct income-tax as per the provisions of section 194C, section 194H or section 194J), responsible for paying any sum to any resident for carrying out any work (including supply of labour) in pursuance of a contract, by way of commission or brokerage, or by way of fees for professional services during the financial year, shall deduct an amount equal to 2% (reduced from 5% w.e.f. 1 October 2024 by Finance (No. 2) Act, 2024) if such sum or aggregate of sums exceeds fifty lakh rupees in a financial year.",
   "keyStatutoryThresholds": {

package/okf/direct_tax/tds_interest_194a/section.json

@@ -15,19 +15,22 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194A",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 4, Item (i)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 5(ii) and 5(iii)",
   "title": "Deduction of tax at source on payment of interest other than interest on securities",
   "effectivePeriod": {
     "validFrom": "1967-04-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Interest Resets Annually)",
-    "sunsetNotes": "Transitions to Section 393(1) Table 4 Item (i) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 5(ii) (Banking/Co-operative/Post Office: ₹50,000 for regular persons, ₹1,00,000 for senior citizens) and Sl. No. 5(iii) (Other interest: ₹10,000) of the Income-tax Act, 2025 effective 1 April 2026."
   },
-  "plainTextSummary": "Any person (other than an individual or HUF not liable to audit under Section 44AB in the preceding FY) responsible for paying any income by way of interest other than 'Interest on securities' to a resident payee must deduct 10% tax at source. Statutory Annual Thresholds: (a) ₹40,000 where payer is a banking company, co-operative bank, or post office (₹50,000 if payee is a resident Senior Citizen u/s 80TTB); (b) ₹5,000 for all other payers (e.g. corporate borrowers, vendor trade delayed interest, inter-corporate deposits, NBFC interest). Under Section 206AA, if payee PAN is missing or inoperative, tax is deductible at 20%. Section 194A(3) provides specific exemptions for interest paid to banks, financial corporations, and interest paid by a firm to its partners. Notice: Penal interest paid under Section 16 of the MSMED Act to Micro & Small enterprises is subject to 194A withholding if exceeding ₹5,000, and is non-deductible (statutory add-back to taxable income) under Section 23 of the MSMED Act.",
+  "plainTextSummary": "Any person (other than an individual or HUF not liable to audit under Section 44AB in the preceding FY) responsible for paying any income by way of interest other than 'Interest on securities' to a resident payee must deduct 10% tax at source. Under the 1961 Act, Statutory Annual Thresholds are: (a) ₹40,000 where payer is a banking company, co-operative bank, or post office (₹50,000 if payee is a resident Senior Citizen u/s 80TTB); (b) ₹5,000 for all other payers (e.g. corporate borrowers, vendor trade delayed interest, inter-corporate deposits, NBFC interest). Under Section 393(1) of the 2025 Act (w.e.f. 1 April 2026), thresholds increase to ₹50,000 for banks (₹1,00,000 for senior citizens) under Table 1, Sl. No. 5(ii), and ₹10,000 for other payers under Table 1, Sl. No. 5(iii). Under Section 206AA, if payee PAN is missing or inoperative, tax is deductible at 20%. Section 194A(3) provides specific exemptions for interest paid to banks, financial corporations, and interest paid by a firm to its partners. Notice: Penal interest paid under Section 16 of the MSMED Act to Micro & Small enterprises is subject to 194A withholding if exceeding ₹5,000, and is non-deductible (statutory add-back to taxable income) under Section 23 of the MSMED Act.",
   "keyStatutoryThresholds": {
     "commercialPayerAnnualThresholdInr": 5000,
+    "successorAct2025CommercialThresholdInr": 10000,
     "bankCooperativePayerAnnualThresholdInr": 40000,
+    "successorAct2025BankThresholdInr": 50000,
     "seniorCitizenBankPayerThresholdInr": 50000,
+    "successorAct2025SeniorCitizenThresholdInr": 100000,
     "standardDeductionRatePercent": 10,
     "nonCompliantPanPenaltyRatePercent": 20,
     "msmeSection16Interaction": "MSME Section 16 delayed payment penal interest is subject to Section 194A withholding if exceeding ₹5,000 in a FY, and must be permanently added back to taxable income under Section 23 of the MSMED Act."
@@ -41,7 +44,7 @@
     },
     {
       "authority": "Parliament of India / Ministry of Finance",
-      "instrument": "Income-tax Act, 2025 Section 393(1), Table 4, Item (i)",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 5(ii) and 5(iii)",
       "subject": "TDS on interest other than interest on securities under new Direct Tax Code",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
     },

package/okf/direct_tax/tds_perquisites_194r/section.json

@@ -14,7 +14,7 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194R",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 8, Item 12",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 8(iv)",
   "title": "Deduction of tax at source on benefit or perquisite in respect of business or profession",
   "effectivePeriod": {
     "validFrom": "2022-07-01",

package/okf/direct_tax/tds_property_194ia/section.json

@@ -14,15 +14,15 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194-IA",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1) Table 4 Item (q)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 3(i)",
   "title": "Payment on Transfer of Certain Immovable Property Other than Agricultural Land (Section 194-IA)",
   "effectivePeriod": {
     "validFrom": "2013-06-01",
     "validTo": "2026-03-31",
     "annualReset": "Transaction-based property transfer determination",
-    "sunsetNotes": "Section 194-IA introduced by Finance Act, 2013 w.e.f. 1-6-2013. Amended by Finance Act, 2019 (expanding consideration to club fees, car parking, maintenance) and Finance Act, 2022 (mandating TDS on higher of consideration or Stamp Duty Value w.e.f. 1-4-2022). Continues under Income-tax Act, 1961 until 31 March 2026, transitioning to Section 393(1) Table 4 Item (q) of Income-tax Act, 2025 w.e.f. 1 April 2026."
+    "sunsetNotes": "Section 194-IA introduced by Finance Act, 2013 w.e.f. 1-6-2013. Amended by Finance Act, 2019 (expanding consideration to club fees, car parking, maintenance) and Finance Act, 2022 (mandating TDS on higher of consideration or Stamp Duty Value w.e.f. 1-4-2022). Continues under Income-tax Act, 1961 until 31 March 2026, transitioning to Section 393(1), Table 1, Sl. No. 3(i) of Income-tax Act, 2025 w.e.f. 1 April 2026."
   },
-  "plainTextSummary": "Section 194-IA of the Income-tax Act, 1961 requires any transferee (buyer) responsible for paying to a resident transferor (seller) any sum by way of consideration for the transfer of any immovable property (other than agricultural land) to deduct income tax at source at the rate of 1.0%. Under the Finance Act, 2022 amendment w.e.f. 1 April 2022, tax is deductible on the gross consideration or the Stamp Duty Value (SDV) adopted by the stamp valuation authority, whichever is higher. No deduction is required where both the consideration and the stamp duty value are less than INR 50,00,000. If either the consideration or the stamp duty value reaches or exceeds INR 50,00,000, TDS is applicable on the higher amount. By virtue of the Explanation to Section 194-IA inserted by Finance Act, 2019, 'consideration for transfer of any immovable property' includes all charges of the nature of club membership fee, car parking fee, electricity or water facility fee, maintenance fee, advance fee, or any other charges of similar nature, which are incidental to the transfer of the immovable property. Unlike standard corporate TDS which requires a Tax Deduction Account Number (TAN), deduction under Section 194-IA is PAN-based: the transferee is not required to obtain a TAN and furnishes the challan-cum-statement in Form 26QB online using the buyer's and seller's PANs within 30 days from the end of the month in which deduction was made. The buyer must subsequently issue TDS certificate Form 16B to the seller within 15 days of Form 26QB filing. Where the seller fails to furnish a valid PAN or has an inoperative PAN, the mandatory penalty withholding floor is 20% under Section 206AA. Under the Income-tax Act, 2025 (effective 1 April 2026), Section 194-IA transitions to Section 393(1) Table 4 Item (q).",
+  "plainTextSummary": "Section 194-IA of the Income-tax Act, 1961 requires any transferee (buyer) responsible for paying to a resident transferor (seller) any sum by way of consideration for the transfer of any immovable property (other than agricultural land) to deduct income tax at source at the rate of 1.0%. Under the Finance Act, 2022 amendment w.e.f. 1 April 2022, tax is deductible on the gross consideration or the Stamp Duty Value (SDV) adopted by the stamp valuation authority, whichever is higher. No deduction is required where both the consideration and the stamp duty value are less than INR 50,00,000. If either the consideration or the stamp duty value reaches or exceeds INR 50,00,000, TDS is applicable on the higher amount. By virtue of the Explanation to Section 194-IA inserted by Finance Act, 2019, 'consideration for transfer of any immovable property' includes all charges of the nature of club membership fee, car parking fee, electricity or water facility fee, maintenance fee, advance fee, or any other charges of similar nature, which are incidental to the transfer of the immovable property. Unlike standard corporate TDS which requires a Tax Deduction Account Number (TAN), deduction under Section 194-IA is PAN-based: the transferee is not required to obtain a TAN and furnishes the challan-cum-statement in Form 26QB online using the buyer's and seller's PANs within 30 days from the end of the month in which deduction was made. The buyer must subsequently issue TDS certificate Form 16B to the seller within 15 days of Form 26QB filing. Where the seller fails to furnish a valid PAN or has an inoperative PAN, the mandatory penalty withholding floor is 20% under Section 206AA. Under the Income-tax Act, 2025 (effective 1 April 2026), Section 194-IA transitions to Section 393(1), Table 1, Sl. No. 3(i).",
   "keyStatutoryThresholds": {
     "standardDeductionRatePercent": 1.0,
     "monetaryCeilingDeMinimisInr": 5000000,

package/okf/direct_tax/tds_rent_194i/section.json

@@ -14,17 +14,18 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194I",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 5, Item (i)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 2",
   "title": "Deduction of tax at source on payment of rent",
   "effectivePeriod": {
     "validFrom": "1994-06-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Rent Resets Annually)",
-    "sunsetNotes": "Transitions to Section 393(1) Table 5 Item (i) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 2 of the Income-tax Act, 2025 effective 1 April 2026, transitioning from an annual aggregate threshold of ₹2,40,000 to ₹50,000 per month (or part thereof) across rent categories."
   },
-  "plainTextSummary": "Any person (other than an individual or a HUF not subject to tax audit) paying any income by way of rent to a resident is required to deduct tax at source. Statutory Rates: (a) 2% for the use of any machinery, plant, or equipment; (b) 10% for the use of any land, building (including factory building), land appurtenant to a building, furniture, or fittings. Threshold: Tax is deductible only if the aggregate amount of rent credited or paid during the financial year exceeds ₹2,40,000. Non-PAN / Inoperative PAN penalty rate under Section 206AA is 20%. Under CBDT Circular 23/2017, where GST is separately stated in the invoice, TDS applies strictly on the basic rent excluding GST.",
+  "plainTextSummary": "Any person (other than an individual or a HUF not subject to tax audit) paying any income by way of rent to a resident is required to deduct tax at source. Statutory Rates: (a) 2% for the use of any machinery, plant, or equipment; (b) 10% for the use of any land, building (including factory building), land appurtenant to a building, furniture, or fittings. Threshold: Under Section 194I of the 1961 Act, tax is deductible only if the aggregate amount of rent credited or paid during the financial year exceeds ₹2,40,000. Under Section 393(1), Table 1, Sl. No. 2 of the 2025 Act (w.e.f. 1 April 2026), the threshold transitions to exceeding ₹50,000 for a month or part of a month. Non-PAN / Inoperative PAN penalty rate under Section 206AA is 20%. Under CBDT Circular 23/2017, where GST is separately stated in the invoice, TDS applies strictly on the basic rent excluding GST.",
   "keyStatutoryThresholds": {
     "annualAggregateThresholdInr": 240000,
+    "successorAct2025MonthlyThresholdInr": 50000,
     "plantMachineryEquipmentRatePercent": 2,
     "landBuildingFurnitureRatePercent": 10,
     "nonCompliantPanPenaltyRatePercent": 20,
@@ -40,7 +41,7 @@
     },
     {
       "authority": "Parliament of India / Ministry of Finance",
-      "instrument": "Income-tax Act, 2025 Section 393(1), Table 5, Item (i)",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 2",
       "subject": "TDS on rent under new Direct Tax Code",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
     },

package/okf/direct_tax/tds_rent_individual_194ib/section.json

@@ -14,13 +14,13 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194-IB",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 5, Item (ib)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 2(iii)",
   "title": "Payment of Rent by Certain Individuals or Hindu Undivided Family (Section 194-IB)",
   "effectivePeriod": {
     "validFrom": "2017-06-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Monthly Threshold)",
-    "sunsetNotes": "Transitions to Section 393(1) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 2(iii) of the Income-tax Act, 2025 effective 1 April 2026."
   },
   "plainTextSummary": "Any person, being an individual or a Hindu undivided family (other than those referred to in the second proviso to section 194-I), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of a month during the previous year, shall deduct an amount equal to 2% (reduced from 5% w.e.f. 1 October 2024 by Finance (No. 2) Act, 2024) of such income as income-tax thereon. Deduction is made at the time of credit of rent for the last month of previous year or last month of tenancy, or at the time of payment, whichever is earlier. Section 194-IB(4) mandates that deduction under Section 206AA shall not exceed the rent payable for the last month of the tenancy.",
   "keyStatutoryThresholds": {

package/okf/direct_tax/tds_services_194j/circulars/cbdt_circular_03_2020_fts_rate_cut.md

@@ -13,7 +13,7 @@ official_url: https://www.incometaxindia.gov.in/pages/acts/finance-acts.aspx
 
 > [STATUTORY VALIDITY WINDOW & TEMPORAL STATUS]  
 > **Valid From**: 1 April 2020  
-> **Valid To**: OPEN_ENDED (Active statutory rule under Section 194J(1); transitions to Section 393(1) Table 6 Item (iii) of Income-tax Act, 2025 effective 1 April 2026)  
+> **Valid To**: OPEN_ENDED (Active statutory rule under Section 194J(1); transitions to Section 393(1), Table 1, Sl. No. 6(iii) of Income-tax Act, 2025 effective 1 April 2026)  
 > **Temporal Status**: ACTIVE  
 > **Core Rate Distinction**: 2% TDS on Fees for Technical Services (FTS) vs. 10% TDS on Professional Fees.  
 > **Statutory Notice**: This document is a structured machine-readable distillation of CBDT Circular No. 3 of 2020 for automated compliance reasoning, citing primary statutory authority.

package/okf/direct_tax/tds_services_194j/section.json

@@ -12,17 +12,18 @@
   "governingStatute": "Income-tax Act, 1961",
   "statutorySection": "Section 194J",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 6, Item (iii)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 6(iii)",
   "title": "Fees for professional or technical services, royalty, and non-compete fees",
   "effectivePeriod": {
     "validFrom": "1995-07-01",
     "validTo": "2026-03-31",
     "annualReset": "Annual",
-    "sunsetNotes": "Transitions to Section 393(1) Table 6 Item (iii) of Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 6(iii) of the Income-tax Act, 2025 effective 1 April 2026, where the threshold increases from ₹30,000 to ₹50,000 per financial year."
   },
-  "plainTextSummary": "Deduction of tax at source under Section 194J on payments to resident payees. (1) Statutory Rates: (a) Fees for Technical Services (FTS) under Section 194J(1)(a): 2% (reduced by Finance Act, 2020 s. 80); (b) Fees for Professional Services: 10%; (c) Royalty for cinematographic films: 2%; (d) Other royalties and non-compete fees under Section 28(va): 10%. (2) Threshold: ₹30,000 per financial year applied separately to each statutory category. (3) Classification Invariants: Professional services are strictly defined under Section 44AA(1) (legal, medical, engineering, architecture, accountancy, technical consultancy, interior decoration, IT); FTS is defined under Explanation 2 to Section 9(1)(vii) (managerial, technical, or consultancy services). (4) Reclassification Risk & Penalties: If services deducted at 2% (FTS) are recharacterized on assessment as Section 44AA(1) professional services (10%), the deductor is liable for: (a) the 8% differential withholding tax; (b) mandatory penal interest under Section 201(1A) at 1% per month from the date tax was deductible to date deducted and 1.5% from deduction to deposit; and (c) 30% business expenditure disallowance under Section 40(a)(ia) until tax is deposited.",
+  "plainTextSummary": "Deduction of tax at source on professional and technical payments to resident payees. (1) Statutory Rates: (a) Fees for Technical Services (FTS) under Section 194J(1)(a) / Section 393(1), Table 1, Sl. No. 6(iii).D(a): 2%; (b) Fees for Professional Services: 10%; (c) Royalty for cinematographic films: 2%; (d) Other royalties and non-compete fees: 10%; (e) Director fees: 10% with zero threshold. (2) Threshold: Under Section 194J of the 1961 Act, ₹30,000 per financial year per statutory category. Under Section 393(1), Table 1, Sl. No. 6(iii) of the 2025 Act (w.e.f. 1 April 2026), the threshold increases to ₹50,000. (3) Classification Invariants: Professional services are strictly defined under Section 44AA(1) (legal, medical, engineering, architecture, accountancy, technical consultancy, interior decoration, IT); FTS is defined under Explanation 2 to Section 9(1)(vii) (managerial, technical, or consultancy services). (4) Reclassification Risk & Penalties: If services deducted at 2% (FTS) are recharacterized on assessment as Section 44AA(1) professional services (10%), the deductor is liable for differential withholding tax, penal interest under Section 201(1A), and 30% expenditure disallowance under Section 40(a)(ia).",
   "keyStatutoryThresholds": {
     "categoryThresholdInr": 30000,
+    "successorAct2025ThresholdInr": 50000,
     "technicalServicesRatePercent": 2,
     "professionalServicesRatePercent": 10,
     "nonCompliantPanPenaltyRatePercent": 20,
@@ -39,6 +40,12 @@
       "subject": "Reduction of TDS rate on Fees for Technical Services (FTS) from 10% to 2%",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/finance-acts.aspx"
     },
+    {
+      "authority": "Parliament of India / Ministry of Finance",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 6(iii)",
+      "subject": "TDS on fees for professional and technical services under new Direct Tax Code",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
+    },
     {
       "authority": "Central Board of Direct Taxes (CBDT)",
       "instrument": "Circular No. 23 of 2017",

package/okf/indirect_tax_gst/common_itc_reversal_rule42_43/circulars/cbic_circular_170_2022_itc_reporting.md

@@ -0,0 +1,30 @@
+---
+id: cbic_circular_170_2022_itc_reporting
+title: CBIC Circular No. 170/02/2022-GST — Mandatory Reporting of Permanent Reversals under Rules 38, 42 and 43 in Table 4(B)(1)
+authority: Central Board of Indirect Taxes and Customs (CBIC)
+date: 2022-07-06
+statutory_section: Section 17(1) and Section 17(2) read with Rule 42 and Rule 43
+valid_from: 2022-07-06
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://taxinformation.cbic.gov.in/view-pdf/1003110/ENG/Circulars
+---
+
+# CBIC Circular No. 170/02/2022-GST: Mandatory Reporting of Permanent Reversals under Rules 42 and 43 in Table 4(B)(1)
+
+## 1. Statutory Context & Legislative Objective
+Prior to July 2022, registered taxpayers frequently reported net Input Tax Credit (ITC) directly in Table 4(A) of Form GSTR-3B after netting off reversals under Rules 42 and 43. This obscured the audit trail between gross auto-drafted ITC in Form GSTR-2B and final credit availed. CBIC Circular No. 170/02/2022-GST established a mandatory, non-negotiable reporting framework enforcing the complete gross ingestion of ITC and strict disclosure of reversals.
+
+## 2. Gross Availment & Permanent Segregation Architecture
+Under the revised instructions:
+1. **Gross Availment (Table 4(A))**: Registered persons must report all ITC auto-drafted in Form GSTR-2B into the relevant fields of Table 4(A), including ineligible credits.
+2. **Permanent / Ineligible Reversals (Table 4(B)(1))**: All reversals which are absolute, definitive, and cannot be reclaimed under any circumstances MUST be reported exclusively in **Table 4(B)(1)**:
+   - Reversal of common credit on inputs and input services attributable to exempt supplies ($D_1$) and non-business use ($D_2$) under Rule 42.
+   - Monthly reversal of common credit on capital goods attributable to exempt supplies ($T_e$) under Rule 43.
+   - Credit blocked under Section 17(5) (e.g. motor vehicles, works contract for immovable property, food and beverages).
+   - Reversal by banking companies / financial institutions electing 50% credit reduction under Section 17(4) read with Rule 38.
+3. **Prohibition of Netting-Off**: Netting off reversals against Table 4(A) credit is strictly prohibited. Table 4(C) Net ITC available must reflect:
+   $$\text{Table 4(C)} = \text{Table 4(A)} - [\text{Table 4(B)(1)} + \text{Table 4(B)(2)}]$$
+
+## 3. Mandatory Annual True-Up Synchronisation
+The monthly reversals reported in Table 4(B)(1) represent provisional calculations. Pursuant to Rule 42(2), these monthly provisional reversals must be reconciled on an annual basis against the aggregate turnover for the entire financial year before the statutory cutoff date.

package/okf/indirect_tax_gst/common_itc_reversal_rule42_43/circulars/cbic_notification_18_2022_cutoff_amendment.md

@@ -0,0 +1,26 @@
+---
+id: cbic_notification_18_2022_cutoff_amendment
+title: CBIC Notification No. 18/2022-Central Tax — Extension of Annual ITC True-up Cutoff to 30th November
+authority: Central Board of Indirect Taxes and Customs (CBIC)
+date: 2022-09-28
+statutory_section: Section 17(2) read with Rule 42(2) and Section 16(4)
+valid_from: 2022-10-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://taxinformation.cbic.gov.in/view-pdf/1009510/ENG/Notifications
+---
+
+# CBIC Notification No. 18/2022-Central Tax: Extension of Annual True-Up and ITC Cutoff to 30th November
+
+## 1. Statutory Context & Legislative Amendment
+Pursuant to the amendments enacted by the Finance Act, 2022 (Act No. 6 of 2022), the Central Government appointed the 1st day of October, 2022 as the date on which provisions extending various compliance time limits came into force. CBIC Notification No. 18/2022-Central Tax notified these amendments across the Central Goods and Services Tax Rules, 2017.
+
+## 2. Harmonisation of Annual True-Up Cutoff
+Prior to this amendment, the annual true-up under Rule 42(2) was tied to the due date for furnishing the return for the month of September following the end of the financial year (typically 20th October).
+Notification No. 18/2022-Central Tax harmonised this deadline with the amended Section 16(4) timeline:
+1. **New Cutoff Date**: The annual reconciliation and true-up of common credit under Rule 42(2) must now be finalized and reported in Form GSTR-3B filed **on or before the 30th day of November** following the end of the financial year.
+2. **Shortfall Reversal with Interest**:
+   - Where the aggregate annual reversal ($D_1^{annual} + D_2^{annual}$) exceeds the sum of monthly reversals already made in Table 4(B)(1), the excess amount must be added to output tax liability or reversed in Table 4(B)(1) on or before 30th November.
+   - Statutory interest under Section 50(1) at the rate of **18% per annum** is mandatorily payable on the shortfall, computed from the **1st day of April of the succeeding financial year** up to the date of actual payment/reversal.
+3. **Excess Reversal Reclaim**:
+   - Where the sum of monthly reversals exceeds the aggregate annual required reversal, the registered person is entitled to claim the excess amount back as credit in Form GSTR-3B filed on or before 30th November.

package/okf/indirect_tax_gst/common_itc_reversal_rule42_43/forms/gstr_3b_table_4b1_reversal_schedule.json

@@ -0,0 +1,101 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "GSTR-3B Table 4(B)(1) Permanent ITC Reversal Schedule",
+  "description": "Statutory reporting schema for Rule 42 (Inputs/Input Services D1+D2) and Rule 43 (Capital Goods Te) permanent reversals in GSTR-3B Table 4(B)(1)",
+  "type": "object",
+  "required": [
+    "recipientGstin",
+    "returnPeriod",
+    "taxPeriodYear",
+    "taxPeriodMonth",
+    "totalItcAvailableT",
+    "t1NonBusinessInr",
+    "t2ExemptInr",
+    "t3BlockedInr",
+    "eligibleC1Inr",
+    "t4TaxableInr",
+    "commonCreditC2Inr",
+    "exemptTurnoverEInr",
+    "totalTurnoverFInr",
+    "rule42D1ExemptReversalInr",
+    "rule42D2NonBusinessReversalInr",
+    "rule43TeCapitalGoodsReversalInr",
+    "totalPermanentReversalTable4B1Inr",
+    "isPermanentNonReclaimable"
+  ],
+  "properties": {
+    "recipientGstin": {
+      "type": "string",
+      "pattern": "^[0-9]{2}[A-Z]{5}[0-9]{4}[A-Z]{1}[1-9A-Z]{1}Z[0-9A-Z]{1}$"
+    },
+    "returnPeriod": {
+      "type": "string",
+      "pattern": "^(0[1-9]|1[0-2])20[2-9][0-9]$"
+    },
+    "taxPeriodYear": {
+      "type": "integer",
+      "minimum": 2017
+    },
+    "taxPeriodMonth": {
+      "type": "integer",
+      "minimum": 1,
+      "maximum": 12
+    },
+    "totalItcAvailableT": {
+      "type": "number",
+      "minimum": 0
+    },
+    "t1NonBusinessInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "t2ExemptInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "t3BlockedInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "eligibleC1Inr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "t4TaxableInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "commonCreditC2Inr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "exemptTurnoverEInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "totalTurnoverFInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "rule42D1ExemptReversalInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "rule42D2NonBusinessReversalInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "rule43TeCapitalGoodsReversalInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "totalPermanentReversalTable4B1Inr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "isPermanentNonReclaimable": {
+      "type": "boolean",
+      "const": true
+    }
+  }
+}

package/okf/indirect_tax_gst/common_itc_reversal_rule42_43/forms/rule_42_43_annual_reconciliation_worksheet.json

@@ -0,0 +1,87 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "Rule 42(2) & 43 Annual ITC Reversal & True-up Worksheet",
+  "description": "Statutory audit and annual reconciliation schedule under Rule 42(2) comparing aggregate financial year reversals with monthly GSTR-3B Table 4(B)(1) filings, with Section 50(1) 18% statutory interest on shortfalls",
+  "type": "object",
+  "required": [
+    "recipientGstin",
+    "financialYear",
+    "annualGrossItcTInr",
+    "annualCommonCreditC2Inr",
+    "annualExemptTurnoverEInr",
+    "annualTotalTurnoverFInr",
+    "annualRequiredReversalRule42Inr",
+    "cumulativeMonthlyReversalsMadeInr",
+    "reconciliationOutcome",
+    "netAdjustmentAmountInr",
+    "trueUpExecutionDate",
+    "statutoryCutoffDate",
+    "section50InterestRatePercent",
+    "section50InterestApplicableInr"
+  ],
+  "properties": {
+    "recipientGstin": {
+      "type": "string",
+      "pattern": "^[0-9]{2}[A-Z]{5}[0-9]{4}[A-Z]{1}[1-9A-Z]{1}Z[0-9A-Z]{1}$"
+    },
+    "financialYear": {
+      "type": "string",
+      "pattern": "^20[2-9][0-9]-[0-9]{2}$"
+    },
+    "annualGrossItcTInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "annualCommonCreditC2Inr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "annualExemptTurnoverEInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "annualTotalTurnoverFInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "annualRequiredReversalRule42Inr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "cumulativeMonthlyReversalsMadeInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "reconciliationOutcome": {
+      "type": "string",
+      "enum": ["SHORT_REVERSAL_PAYMENT_DUE", "EXCESS_REVERSAL_RECLAIM_PERMITTED", "BALANCED_ZERO_VARIANCE"]
+    },
+    "netAdjustmentAmountInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "trueUpExecutionDate": {
+      "type": "string",
+      "pattern": "^\\d{4}-\\d{2}-\\d{2}$"
+    },
+    "statutoryCutoffDate": {
+      "type": "string",
+      "pattern": "^\\d{4}-\\d{2}-\\d{2}$"
+    },
+    "isFiledBeforeCutoff": {
+      "type": "boolean"
+    },
+    "interestPeriodDays": {
+      "type": "integer",
+      "minimum": 0
+    },
+    "section50InterestRatePercent": {
+      "type": "number",
+      "const": 18
+    },
+    "section50InterestApplicableInr": {
+      "type": "number",
+      "minimum": 0
+    }
+  }
+}

package/okf/indirect_tax_gst/common_itc_reversal_rule42_43/section.json

@@ -0,0 +1,65 @@
+{
+  "sectionId": "CGST2017_RULE42_43",
+  "sectionCode": "RULE-42-43",
+  "aliases": [
+    "RULE-42",
+    "RULE-43",
+    "rule42",
+    "rule43",
+    "rule 42",
+    "rule 43",
+    "common itc reversal",
+    "exempt supply itc reversal",
+    "capital goods itc reversal",
+    "common credit rule 42"
+  ],
+  "governingStatute": "Central Goods and Services Tax Act, 2017 (Act No. 12 of 2017)",
+  "statutorySection": "Section 17(1) and Section 17(2) read with Rule 42 and Rule 43",
+  "successorStatute": "Central Goods and Services Tax Act, 2017",
+  "successorSection": "Section 17(1) and Section 17(2) read with Rule 42 and Rule 43 (as amended)",
+  "title": "Apportionment of input tax credit on inputs, input services and capital goods, and reversal of common credit attributable to exempt or non-business supplies",
+  "effectivePeriod": {
+    "validFrom": "2017-07-01",
+    "validTo": "OPEN_ENDED",
+    "sunsetNotes": "Rule 42 amended by Notification No. 16/2019-CT (dated 29-03-2019) for residential real estate project reporting; annual true-up deadline amended from 30 September to 30 November by Finance Act, 2022 read with Notification No. 18/2022-CT; mandatory reporting in GSTR-3B Table 4(B)(1) enforced by Circular No. 170/02/2022-GST."
+  },
+  "plainTextSummary": "Under Section 17(1) and 17(2) of the CGST Act read with Rules 42 and 43, input tax credit (ITC) must be attributed between business vs non-business purposes, and taxable supplies (including zero-rated exports) vs exempt supplies. Under Rule 42 (Inputs and Input Services), total ITC (T) is segregated by identifying specific ineligible credit: T1 (non-business), T2 (exempt supplies), and T3 (blocked u/s 17(5)). The balance C1 = T - (T1 + T2 + T3) is credited to the electronic ledger. Specific eligible credit T4 (taxable/exports) is deducted to yield Common Credit C2 = C1 - T4. Ineligible common credit is then apportioned monthly: D1 = (E/F) * C2 (exempt turnover ratio) and D2 = 5% of C2 (non-business use), with D1 + D2 reversed in GSTR-3B Table 4(B)(1). Under Rule 42(2), an annual true-up must be performed on or before 30th November following the end of the financial year. If annual reversal exceeds monthly reversals, the shortfall must be paid with 18% interest under Section 50(1) from 1st April of the succeeding financial year. If monthly reversals exceed annual reversal, the excess may be reclaimed as ITC before 30th November. Under Rule 43 (Capital Goods), common capital goods have a statutory deemed useful life of 60 months. Monthly credit is sliced as Tm = Tc / 60, and monthly exempt reversal Te = (E/F) * Tr is added to output tax liability.",
+  "keyStatutoryThresholds": {
+    "capitalGoodsDeemedUsefulLifeMonths": 60,
+    "nonBusinessCommonCreditReversalRatePercent": 5,
+    "annualTrueUpCutoffDate": "30th November following the end of the financial year (Notification No. 18/2022-CT)",
+    "shortReversalStatutoryInterestRatePercent": 18,
+    "shortReversalInterestCommencement": "1st April of the succeeding financial year till date of payment / reversal",
+    "excessReversalReclaimPermitted": true,
+    "gstr3bReportingTable": "Table 4(B)(1) - As per rules 38, 42 & 43 of CGST Rules and section 17(5) (Permanent / Ineligible Reversal)"
+  },
+  "officialCitations": [
+    {
+      "authority": "Central Board of Indirect Taxes and Customs (CBIC)",
+      "instrument": "Central Goods and Services Tax Rules, 2017 (Rule 42 and Rule 43)",
+      "subject": "Statutory rules for determination and reversal of input tax credit in respect of inputs, input services and capital goods",
+      "officialUrl": "https://taxinformation.cbic.gov.in/view-pdf/1000412/ENG/Rules"
+    },
+    {
+      "authority": "Central Board of Indirect Taxes and Customs (CBIC)",
+      "instrument": "Circular No. 170/02/2022-GST (Dated 06 July 2022)",
+      "subject": "Mandatory reporting of permanent Rule 38, 42, 43 and Section 17(5) reversals in Table 4(B)(1) of Form GSTR-3B",
+      "officialUrl": "https://taxinformation.cbic.gov.in/view-pdf/1003110/ENG/Circulars"
+    },
+    {
+      "authority": "Central Board of Indirect Taxes and Customs (CBIC)",
+      "instrument": "Notification No. 18/2022-Central Tax (Dated 28 September 2022)",
+      "subject": "Extension of annual input tax credit reconciliation and true-up cutoff date to 30th November",
+      "officialUrl": "https://taxinformation.cbic.gov.in/view-pdf/1009510/ENG/Notifications"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Monthly and Annual GSTR-1 / GSTR-3B returns establishing aggregate taxable turnover (F) and exempt turnover (E)",
+    "Inward Purchase Register with specific identification flags (T1 non-business, T2 exempt, T3 blocked u/s 17(5), T4 taxable)",
+    "Capital Asset Register documenting capital goods purchase dates, invoice values, and 60-month useful life tracking",
+    "Monthly GSTR-3B Table 4(B)(1) disclosure vouchers verifying provisional reversals (D1 + D2 and Te)",
+    "Annual Rule 42/43 true-up working papers and Section 50(1) interest calculation schedules"
+  ],
+  "tier": "PUBLIC_COMMONS_FREE",
+  "version": "2.11.0"
+}

package/okf/indirect_tax_gst/itc_reversal_rule37_37a/circulars/cbic_circular_192_2023_ecl_interest_calculation.md

@@ -0,0 +1,36 @@
+---
+id: cbic_circular_192_2023_ecl_interest_calculation
+title: "CBIC Circular No. 192/04/2023-GST - Clarification on Interest Calculation under Section 50(3) Read with Rule 88B(3) and Combined ECL Balances"
+authority: Central Board of Indirect Taxes and Customs (CBIC)
+date: 2023-07-17
+statutory_section: Section 50(3) read with Rule 88B(3) and Rule 37
+valid_from: 2023-07-17
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://gstcouncil.gov.in/node/4913
+---
+
+# CBIC Circular No. 192/04/2023-GST (Dated 17 July 2023)
+
+## 1. Subject & Statutory Context
+Clarification on charging of interest under section 50(3) of the CGST Act, 2017, in cases of wrong availment of Input Tax Credit (ITC) and reversal thereof under Rule 88B of the CGST Rules, 2017.
+
+## 2. Issues Clarified by the Board
+
+### Issue 1: Combined Ledger Balance vs Head-Wise Balance for IGST Credit
+Where a registered person wrongly avails Input Tax Credit under the head of IGST and subsequently reverses it, the question arose whether interest under Section 50(3) read with Rule 88B(3) applies when the individual IGST ledger balance falls below the wrongly availed amount, but the combined balance of IGST, CGST, and SGST taken together remains sufficient.
+
+**Clarification**:
+In terms of Section 49(5) of the CGST Act, Input Tax Credit available under any head (IGST, CGST, or SGST) in the electronic credit ledger can be utilized for payment of IGST output liability. Therefore, to evaluate whether wrongly availed IGST credit has been utilized, the total balance of ITC across **all three major heads (IGST + CGST + SGST) taken together** must be considered.
+- If the aggregate balance (IGST + CGST + SGST) never falls below the wrongly availed amount during the period from availment to reversal, **no interest under Section 50(3) is payable**.
+- Interest attaches strictly to the extent of the shortfall in the combined balance and for the specific days of such dip.
+
+### Issue 2: Cross-Utilization Restriction for CGST and SGST
+- For wrongly availed **CGST credit**: CGST credit can be utilized for CGST and IGST liabilities, but cannot be utilized for SGST liability. Thus, the relevant available balance is `CGST + IGST`.
+- For wrongly availed **SGST credit**: SGST credit can be utilized for SGST and IGST liabilities, but cannot be utilized for CGST liability. Thus, the relevant available balance is `SGST + IGST`.
+
+### Issue 3: Strict Exclusion of Compensation Cess
+Credit of Compensation Cess available in the electronic credit ledger cannot be taken into account when calculating the available balance for IGST, CGST, or SGST, because Cess credit can only be utilized for paying output Compensation Cess under Section 11 of the Goods and Services Tax (Compensation to States) Act, 2017.
+
+## 3. Statutory Principles for Rule 37 Overdue Invoices
+Where ITC is required to be reversed under Section 16(2) second proviso read with Rule 37(1) for unpaid supplier bills > 180 days, interest under Section 50 attaches only if the unreversed credit was utilized in terms of Rule 88B(3) as interpreted by Circular No. 192/04/2023-GST. If the relevant ledger balance remained at or above the unreversed ITC, the credit remained unutilized and interest exposure is ₹0.00.

package/okf/indirect_tax_gst/itc_reversal_rule37_37a/section.json

@@ -50,15 +50,22 @@
       "instrument": "Circular No. 170/02/2022-GST (Dated 06 July 2022)",
       "subject": "Mandatory reporting of reclaimable ITC reversals in Table 4(B)(2) of Form GSTR-3B",
       "officialUrl": "https://taxinformation.cbic.gov.in/view-pdf/1003110/ENG/Circulars"
+    },
+    {
+      "authority": "Central Board of Indirect Taxes and Customs (CBIC)",
+      "instrument": "Circular No. 192/04/2023-GST (Dated 17 July 2023)",
+      "subject": "Clarification on charging of interest under section 50(3) read with Rule 88B(3) in cases of wrong availment of IGST credit and consideration of combined ECL balance",
+      "officialUrl": "https://gstcouncil.gov.in/node/4913"
     }
   ],
   "requiredDocumentChecklist": [
     "Supplier Tax Invoice with invoice date and payment terms",
     "Accounts Payable Aging Ledger showing unpaid balances beyond 180 days",
+    "Electronic Credit Ledger chronological ledger movement statement (Rule 88B(3) utilization audit)",
     "Bank payment vouchers confirming partial or full settlement dates",
     "GSTR-2B statement showing initial ITC availment month",
     "Form GSTR-3B Table 4(B)(2) reversal disclosure voucher"
   ],
   "tier": "PUBLIC_COMMONS_FREE",
-  "version": "2.10.0"
+  "version": "2.11.0"
 }