On Tuesday (October 18), the BCCI Annual General Meeting (AGM) is set to take place which will see Roger Binny, former pacer and 1983 World Cup winning member, take over from Sourav Ganguly to become the board's 36th President.&nbsp;

It had been reported earlier that Binny was a strong contender to succeed Ganguly after the former Indian captain's exit was confirmed. Meanwhile, the election of the other office bearers will only be a formality as all will be elected unopposed. Jay Shah will continue to serve as the BCCI Secretary, Arun Dhumal will vacate the post of a treasurer and take over as the IPL chairman with Ashish Shelar succeeding him, Rajeev Shukla will be the vice-president whereas Devajit Saikia will be the joint secretary. The AGM will also see the board members dwelling on whether the BCCI is eager to field a candidate for the ICC chairmanship or back the incumbent Greg Bracley for another term.&nbsp;

ALSO READ | <a href="https://www.wionews.com/sports/t20-world-cup-2022-md-shami-is-a-good-replacement-for-jasprit-bumrah-believes-sachin-tendulkar-526213">Mohammed Shami is a good replacement for Jasprit Bumrah, believes Sachin Tendulkar ahead of India's T20 WC opener</a>

It is to be noted that the last date for filing the nomination for the ICC top post is October 20. Hence, a decision in this regard is set to take place on Tuesday. As of now, the two contenders who can be nominated by the BCCI are former presidents N Srinivasan and Anurag Thakur.&nbsp;

The other major agendas of the 91st BCCI AGM will be a discussion on the inaugural Women's IPL, tax liability on the 2023 ODI World Cup whereas a date on the IPL 2023 mini auction is also expected to be out.

On Tuesday (October 18), the BCCI Annual General Meeting (AGM) is set to take place which will see Roger Binny, former pacer and 1983 World Cup winning member, take over from Sourav Ganguly to become the board's 36th President.

On Tuesday (October 18), the BCCI Annual General Meeting (AGM) is set to take place which will see Roger Binny, former pacer and 1983 World Cup winning member, take over from Sourav Ganguly to become the board's 36th President. It had been reported earlier that Binny was a strong contender to succeed Ganguly after the former Indian captain's exit was confirmed. Meanwhile, the election of the other office bearers will only be a formality as all will be elected unopposed. Jay Shah will continue to serve as the BCCI Secretary, Arun Dhumal will vacate the post of a treasurer and take over as the IPL chairman with Ashish Shelar succeeding him, Rajeev Shukla will be the vice-president whereas Devajit Saikia will be the joint secretary. The AGM will also see the board members dwelling on whether the BCCI is eager to field a candidate for the ICC chairmanship or back the incumbent Greg Bracley for another term. ALSO READ | Mohammed Shami is a good replacement for Jasprit Bumrah, believes Sachin Tendulkar ahead of India's T20 WC opener It is to be noted that the last date for filing the nomination for the ICC top post is October 20. Hence, a decision in this regard is set to take place on Tuesday. As of now, the two contenders who can be nominated by the BCCI are former presidents N Srinivasan and Anurag Thakur. The other major agendas of the 91st BCCI AGM will be a discussion on the inaugural Women's IPL, tax liability on the 2023 ODI World Cup whereas a date on the IPL 2023 mini auction is also expected to be out.

Roger Binny set to succeed Sourav Ganguly as BCCI's 36th President in AGM

The Finance Ministry has permitted businesses to rectify mistakes in their monthly returns - GSTR-3B - and adjust tax liability, a move that will help them file correct returns without fear of penalty.

This relaxation will give an opportunity to businesses to claim tax credit correctly by rectifying the mistakes made initially while computing GST liability.

Businesses have been finding it difficult to assess tax liability correctly after India moved to Goods and Services Tax (GST) regime with effect from July 1.

Industry bodies have been demanding relaxation of norms and easier compliance provisions to help businesses adapt to the new system of filing tax returns online.

The CBEC in a recent communication to field officer has said &quot;as the return in Form GSTR-3B does not contain provisions for reporting of differential figures for past month(s), the said figures may be reported on net basis along with the values for current month itself in appropriate tables...&quot;.

It said while making adjustments in the output tax liability or input tax credit, there can be no negative entries in GSTR-3B.

The amount remaining for adjustment, if any, may be adjusted in the returns in Form GSTR-3B of subsequent months and, in cases where such adjustment is not feasible, refund may be claimed, CBEC said.

GSTR-3B, initial summarised return, has to be filed by businesses by 20th day of every month for the previous month showing details of taxes paid.

&quot;Where adjustments have been made in Form GSTR-3B of multiple months, corresponding adjustments in Form GSTR-1 should also preferably be made in the corresponding months,&quot; it added.

EY India Tax Partner Abhishek Jain said the circular will bring relief to businesses who were struggling to make changes in their GST return form.

Rajat Mohan, partner in AMRG and Associates said the CBEC had in September 2017 allowed businesses to rectify errors in GSTR3B returns while filing GSTR-1 and GSTR-2 of the same month.

Now in order to improve the procedure, the CBEC has said since GSTR-3B does not contain provisions for reporting of differential figures for past months, the said figures may be reported on net basis along with the values for current month itself.

As per the new circular, Mohan said &quot;all rectifications can be made in the same month&#39;s GSTR?3B and GSTR -1&quot;.&nbsp;

This relaxation will give an opportunity to businesses to claim tax credit correctly by rectifying the mistakes made initially while computing GST liability.

The Finance Ministry has permitted businesses to rectify mistakes in their monthly returns - GSTR-3B - and adjust tax liability, a move that will help them file correct returns without fear of penalty. This relaxation will give an opportunity to businesses to claim tax credit correctly by rectifying the mistakes made initially while computing GST liability. Businesses have been finding it difficult to assess tax liability correctly after India moved to Goods and Services Tax (GST) regime with effect from July 1. Industry bodies have been demanding relaxation of norms and easier compliance provisions to help businesses adapt to the new system of filing tax returns online. The CBEC in a recent communication to field officer has said "as the return in Form GSTR-3B does not contain provisions for reporting of differential figures for past month(s), the said figures may be reported on net basis along with the values for current month itself in appropriate tables...". It said while making adjustments in the output tax liability or input tax credit, there can be no negative entries in GSTR-3B. The amount remaining for adjustment, if any, may be adjusted in the returns in Form GSTR-3B of subsequent months and, in cases where such adjustment is not feasible, refund may be claimed, CBEC said. GSTR-3B, initial summarised return, has to be filed by businesses by 20th day of every month for the previous month showing details of taxes paid. "Where adjustments have been made in Form GSTR-3B of multiple months, corresponding adjustments in Form GSTR-1 should also preferably be made in the corresponding months," it added. EY India Tax Partner Abhishek Jain said the circular will bring relief to businesses who were struggling to make changes in their GST return form. Rajat Mohan, partner in AMRG and Associates said the CBEC had in September 2017 allowed businesses to rectify errors in GSTR3B returns while filing GSTR-1 and GSTR-2 of the same month. Now in order to improve the procedure, the CBEC has said since GSTR-3B does not contain provisions for reporting of differential figures for past months, the said figures may be reported on net basis along with the values for current month itself. As per the new circular, Mohan said "all rectifications can be made in the same month's GSTR?3B and GSTR -1".

Government relaxes norms for rectification of returns under GST

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