Form 156 and Form 157: New Exit Compliance Framework — What We Know So Far
The Income-tax Act, 2025 is set to replace the 1961 Act from 1 April 2026, introducing Section 420 and new exit-compliance Forms 156 and 157. This is an early interpretation of what we know so far — applicability, mechanics, and what still depends on CBDT notification.
Vikram Mehta
@ca_vikram
Vikram is a founding editorial team member at TaxSocial covering the GST and indirect-tax beat. His articles unpack GST 2.0, the new slab structure effective September 2025, the post-sale discount reset, the intermediary-services Section 13(8)(b) amendment, the 30-day IRN reporting rule, the GSTR-1A / GSTR-2B / GSTR-3B filing matrix, and the late-fee mechanics that follow when any of these slip. He writes from the perspective of a practitioner running compliance for mid-sized businesses — what the rule actually says, what the GSTN portal will accept on a given date, and what the practical workaround is when the two diverge. He covers MCA filing and ROC compliance topics where they intersect with GST.
