Module wise new functionalities deployed on the GST Portal for taxpayers
Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for […]
Ad hoc Exemption from IGST on imports of specified COVID-19 relief material donated from abroad
As customs duty is already exempt , these imports will not attract any customs duty or IGST In view of the COVID-19 pandemic, the Central Government has issued notifications exempting Basic Customs Duty and/or Health cess on imports of a number of COVID-19 related relief materials, for a limited period. These include– S. No. Notification […]
Government announces various relief measures for taxpayers under GST law in view of severe COVID-19 pandemic
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave of COVID-19 pandemic, the Government has issued notifications, all dated 1st May, 2021, providing various relief measures for taxpayers. These measures are explained below: 1. Reduction […]
In & Outs of Input Service Distributor Protecting the Recipient
To ease the doing of business in various locations in India with modest tax compliances, the concept of centralized registration and input service distributor has been taken from the previous indirect tax laws. Both of these notation was envisaged in service tax law i.e. Chapter V of Finance Act, 1994. The method was being initiated […]
New features of Form GSTR-2B & GSTR-3B made available to taxpayers under QRMP Scheme
The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available to them are summarized below. Auto Generation of Form GSTR-2B, for the QRMP taxpayers a)Form GSTR-2B contains details of filed IFFs (for Month M1 & M2) & filed Form GSTR 1 (for Month M3). b)Form […]
Due dates for filing of Form GSTR-3B from the Tax Period of January, 2021 : Team GSTN
1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No 82/2020 – Central Tax, dated 10th Nov., 2020, has revised Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from January, 2021, onwards, as under: Sl.No. Class of registered […]
Tax Concept’s Representation to Hon’ble Finance Minister and GST Council Seeking Clarification on Reporting of HSN Codes in Tax Invoices as well as in GSTR-1 w.e.f. 1st April 2021
When we refer relevant notifications, we can consider that above clarifications are not as per law. So, you are requested to please ask the GSTN to make necessary changes in the reporting of HSN Codes in GSTR-1 and not to issue any clarification which is not as per law.
Updates in Forms GSTR-1, GSTR-3B and Matching Offline Tool for Taxpayers in QRMP Scheme
With effect from 1st January, 2021, all taxpayers with Annual Aggregate Turnover up to Rs 5 Crore have been given an option to file their Form GSTR-1 Statement and Form GSTR-3B return on a quarterly basis. They also have an option to file B2B invoice details in Invoice Furnishing Facility (IFF) for months 1 and 2 (eg. Jan and Feb) of the quarter in order to pass on the credit, whereas the remaining invoices have to be declared in the Quarterly Form GSTR-1 of Month 3 (e.g. March).
Whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds Rs. 500 crore
Attention GST Taxpayers whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds Rs.500 crore! Generating Dynamic QR Code on B2C Invoices issued to unregistered person. Penalty waived for non-compliance subject to conditions provided. read more at : Start-up India Eligibility Norms : Check your Entity
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