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.
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).
For third month of the quarter, taxpayers can click the button “Create Challan” in Payment Table 6 of Form GSTR-3B and file GST PMT-06 Challan, for depositing any amount towards their tax liability.
The Press Information Bureau has published that “Recently, the Fastag data has been integrated with the e-way bill system. On a daily average, 24 Lakh Fastag transactions from 826 toll plazas, related to commercial vehicles are exchanged between NPCI/NHA and NIC systems. These details will help the GST officers to track the movement of e-waybills using the new analytical reports.”
E-Way Bill system was launched by National Informatics Centre (NIC) as per the directions of the GST Council on 1st April 2018. The roll out of e-way bill system took place in phased manner from 1st April 2018 to 16th June 2018. E-Way Bill system has maintained high availability in last three years.
File your GSTR-8 Return for the month of March, 2021 by April 10, 2021.
File your GSTR-7 Return for the month of March, 2021 by April 10th, 2021.
In a case, Justice Chandrachud today said that “The country needs to come out of this tax culture that ‘all businesses are fraudulent’. Even where 12 crore tax has been paid (by the assessee), just because some tax is still due, you can’t start attaching property! If there is any alienation of assets or the assessee is winding up or going into liquidation, it is understandable. But just because you have the account numbers, you can’t start attaching and even block the receivables!”
GSTN has informed on 6th April 2021 about new updates on GST Portal deployed for taxpayers.
Various professionals have reported on twitter that they are able to view/ file TDS/ TCS Returns for April 2020 only instead of full year. In FY 2021-22, all months are showing instead of April 2021.
05.04.2021: Through the official twitter handle, CBIC has re-reminded about four new changes in GST.
GSTN has recently posted an update on its official website http://www.gst.gov.in that “Quarterly taxpayers are able to see the GSTR3B tile for Jan, Feb and Mar 21. They are requested to file GSTR3B for the quarter Jan-Mar, 21 using tile for Mar, 21. The tile for Jan and Feb is being removed.”
GSTN has replied to the query as under: Invoices reported in IFF for Jan or Feb 2021 will not be reflected in quarterly GSTR-1 from Jan-March 2021. Please refer Rule-59(3) of the CGST Rules.
HSN stands for Harmonised System Nomenclature is a code used for classifying the goods under GST Act. It is an internationally standardized system of names and numbers used to systematically classify goods all over the world. HSN is an 8-digit code.
Through this act, the government has notified section 16(2)(aa) of the CGST Act which said that ITC not reflecting in GSTR-2A will become ineligible to claim.
While taking ITC on purchases and other expenses, kindly verify that supplier has mentioned HSN/ SAC code in invoice as required. If HSN/ SAC Code is not mentioned in invoice, then ITC will not be available.
The Hon’ble AAR, Uttar Pradesh in the matter of M/S. Dwarikesh Sugar Industries Limited [Order No. 52, dated January 22, 2020] held that expenses incurred towards Corporate Social Responsibility ( “CSR” ) by the Company in order to comply with requirements under the Companies Act, 2013 ( “Companies Act” ) qualify as being incurred in the course of business and therefore, eligible for Input Tax Credit ( “ITC” ) in terms of the Section 16 of the Central Goods and Services Tax Act, 2017 ( “CGST Act” ).
Consistent efforts are being taken to sanitize the taxation system. However, there are cases of tax evasion, ITC frauds, and tax leakages being reported frequently.
Question: Whether expenses incurred by the company in order to comply with requirements of Corporate Social Responsibility (CSR) under the Companies Act, 2013 (‘CSR Expenses’) qualify as being incurred in the course of business and eligible for input tax credit (‘ITC’) in terms of Section 16 of the CGST Act, 2017?
Ruling by AAR: Yes.
Business to Consumer (B2C) supplies can also be reported by notified persons?
No. This will be brought under e-invoicing in the next phase.
