GSTR-3B

Screenshot_2022-06-16-08-05-38-11_4251af1b5b11394b318ec35cda6368c8-33077caa

Breaking: CBIC Issues Clarifications On Mandatory Furnishing Of Correct Details in GSTR-3B And GSTR-1

Vide Circular No. 170/02/2022- GST, Dated 6th July 2022, the CBIC has issued clarifications on mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/ blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B and statement in FORM GSTR-1. Circular is as under: The process of return filing …

Breaking: CBIC Issues Clarifications On Mandatory Furnishing Of Correct Details in GSTR-3B And GSTR-1 Read More »

Screenshot_2022-06-16-08-06-09-62_4251af1b5b11394b318ec35cda6368c8-b4766a77

Taxpayer is Eligible To Claim ITC As Per Invoice in Absence Of System Based Matching: Gujarat High Court

In the case of M/S New Nalbandh Traders vs State Of Gujarat, the Gujarat High Court has held that: On the perusal of the aforesaid provisions, it can be said that there is a specific mechanism for reversing the credit in the case of a discrepancy in the ITC availed by the recipient, against the …

Taxpayer is Eligible To Claim ITC As Per Invoice in Absence Of System Based Matching: Gujarat High Court Read More »

Screenshot_2022-06-16-08-06-09-62_4251af1b5b11394b318ec35cda6368c8-0841d88c

GST Portal Update: Availing ITC As Per Law And GSTR-2B

Official GST Portal has posted an update that: For some of the taxpayers, there was an issue in relation to duplicate entries in GSTR2B which has since been fixed and correct GSTR2B has been generated. In this regard, taxpayers while filing GSTR3B are advised to check and ensure that the value of ITC they are …

GST Portal Update: Availing ITC As Per Law And GSTR-2B Read More »

Screenshot_2022-03-26-08-45-56-39_4251af1b5b11394b318ec35cda6368c8-ac84abe2

Big Breaking: Government Plans To Amend GSTR-3B To Stop Bogus ITC Claims

The monthly tax payment form GSTR-3B is all set to be amended to check fraudulent Input Tax Credit (ITC) claims and speedy disposal of genuine cases. An official said that this could be considered in the meeting of the GST Council to be held next month. The revised form will provide clarity to the taxpayer …

Big Breaking: Government Plans To Amend GSTR-3B To Stop Bogus ITC Claims Read More »

Screenshot_2022-05-15-14-03-14-26_4251af1b5b11394b318ec35cda6368c8-3c17ec57

Big Update On GSTR-2B For April 2022

Official account of GSTN Portal, GST Tech has tweeted that: GSTR2B is now available for April 2022 It may be noted that only if the taxpayer, the Input Tax Credit (ITC) gets auto populated in GSTR3B from GSTR2B has not saved any data in GSTR3B for that tax period. 2.) The auto population of ITC …

Big Update On GSTR-2B For April 2022 Read More »

CBIC-6f23305b

Breaking: Government Proposes To Extend April 2022 GSTR-3B Due Date

CBIC has tweeted on 17th May 2022 that: A technical glitch has been reported by Infosys in generation of April 2022 GSTR-2B & auto-population of GSTR-3B on portal. Infosys has been directed by Govt for early resolution. Technical team is working to provide GSTR-2B & correct auto-populated GSTR-3B at the earliest. (1/2) Considering the difficulties …

Breaking: Government Proposes To Extend April 2022 GSTR-3B Due Date Read More »

IMG_20220514_074513-9561244c

Very Important Point To Keep in Mind While Availing Self- Assessed ITC From GSTR-2A

GSTN has posted an advisory on 15th May 2022 that GSTR-2B for April 2022 is not showing the invoices related to April 2022. Technical team is working on it. But as a temporary measure, taxpayers can avail ITC from GSTR-2A as per self-assessment basis. Points to Keep in Mind While Availing ITC From GSTR-2A As …

Very Important Point To Keep in Mind While Availing Self- Assessed ITC From GSTR-2A Read More »

Rajasthan Government’s Most Important Circular On GST Return Filing

Rajasthan Government has issued a circular on 5th April 2022, in which the government said that: It has come to the notice that in some instances, the taxpayers have not disclosed ineligible ITC in GSTR-3B on account of IGST paid on inward interstate supply and import supplies which might have culminated in short transfer of …

Rajasthan Government’s Most Important Circular On GST Return Filing Read More »

Breaking: CBIC Issues SOP For Scrutiny Of Returns For F.Y. 2017-18 And F.Y. 2018-19

Breaking: CBIC Issues SOP For Scrutiny Of Returns For F.Y. 2017-18 And F.Y. 2018-19

Vide Instruction No. 02/2022- GST, Dated 22nd March 2022, CBIC has issued SOP for scrutiny of returns for F.Y. 2017-18 and F.Y. 2018-19. Let us tell you that Section 61 of the CGST Act and Rule 99 of the CGST Rules are dealing with scrutiny of returns. Section 61 of CGST Act (1) The proper …

Breaking: CBIC Issues SOP For Scrutiny Of Returns For F.Y. 2017-18 And F.Y. 2018-19 Read More »

GST Department Issues Notice For Interest Payment On Late Fees Paid in GSTR-3B

GST Department Issues Notice For Interest Payment On Late Fees Paid in GSTR-3B

A GST stakeholder Suresh Patel has tweeted that My client received interest due notice for 2017-18 for nil gstr3b. But paid late fee. Interest is calculated on late fee. Is interest is applicable on late fee too? Under Gst act? He tagged official twitter handle of GSTN in his tweet. Replying to Suresh Patel’s tweet, …

GST Department Issues Notice For Interest Payment On Late Fees Paid in GSTR-3B Read More »

GST Alert! Tax department asks taxpayers to complete this pending work

Attention GST Taxpayers whose Aggregate Annual Turnover for the FY 20-21 is more than Rs. 5 crore! File your Annual Return in Form GSTR-9 along with self certified Reconciliation statement in GSTR-9C before February 28, 2022. Attention GST Taxpayers whose aggregate annual turnover for the FY 20-21 is more than Rs. 2 crore! File Annual …

GST Alert! Tax department asks taxpayers to complete this pending work Read More »

Proposed Changes in GST in Budget 2022

Proposed Changes in GST in Budget 2022

Proposed changes in GST in Budget 2022 1.) A new clause to Section 16(2) of CGST Act, 2017 is inserted to provide that Input tax Credit with respect to a supply can be availed only if such credit is not restricted by the GSTR 2A/2B returns. Further, Section 16(4) of CGST Act 2017, is amended …

Proposed Changes in GST in Budget 2022 Read More »

Alert: Be Careful While Filing GSTR-1 And GSTR-3B

Alert: Be Careful While Filing GSTR-1 And GSTR-3B

The government is tightening the screws on taxpayers who are reporting turnover in GSTR-1 but not paying tax through GSTR-3B or claiming more input tax credit as available in GSTR-2A/ 2B. In this series, the government has now incorporated the facility in GST portal to view individual month difference and cumulative difference in output tax …

Alert: Be Careful While Filing GSTR-1 And GSTR-3B Read More »

GST System mistake in calculating late fee, now giving notice of dues to businessmen

Due to a new exploit of GST Network (GSTN), businessmen are facing new problems. GSTN made a mistake in calculating the late fee charged from the traders in the past. Now he is demanding arrears by sending notices to the businessmen. In the last few days, lakhs of traders have received this notice. Not only …

GST System mistake in calculating late fee, now giving notice of dues to businessmen Read More »

Latest GST News, Information, Notifications & Announcements

Alert For Taxpayers Who Are Under QRMP Scheme in GST

Attention Taxpayers who are under QRMP Scheme in GST. Today is the last date to file your GSTR-1 Return for the quarter October, 2021 to December, 2021. If you will not file your GSTR-1 return for the said quarter today, then corresponding ITC will not be available to buyers in their GSTR-2B as per section …

Alert For Taxpayers Who Are Under QRMP Scheme in GST Read More »

Proposed Changes in GST in Budget 2022

Very Good News For GST Taxpayers. Know Details Here

Good news for GST taxpayers is that government is launching interest calculator in GSTR-3B Return very soon which will calculate accurate head-wise interest on late payment of tax. Return filing will be easy because we have to not calculate interest. According to government, this functionality will arrive at the system computed interest on the basis …

Very Good News For GST Taxpayers. Know Details Here Read More »

Latest GST News, Information, Notifications & Announcements [Period 20/12/21 to 26/12/21]

Latest GST News, Information, Notifications & Announcements [Period 20/12/21 to 26/12/21]

Latest GST News, Information, Notifications & Announcements 1. CHANGES IN HSN CODES AS PER HS-2022 w.e.f 01.01.2022: The WCO has announced the New (Seventh) edition of HSN – HS-2022 w.e.f 01.01.2022. India being party to HS Convention will also align its First Schedule of Customs Tariff Act with HS-2022. The necessary changes required were already …

Latest GST News, Information, Notifications & Announcements [Period 20/12/21 to 26/12/21] Read More »

Reporting of supplies notified under section 9(5) / 5(5) by E-commerce Operator in GSTR-3B

Alert: Difference in GSTR-1 And GSTR-3B May Become Costly From New Year

The GST department is going to take strict action on those people who make mistakes in giving their tax information. GST authorities can take direct recovery action from January 1 against businesses that show excess sales in their monthly returns GSTR-1 but report under-reports while making tax payments in GSTR-3B. Fake billing will be curbed …

Alert: Difference in GSTR-1 And GSTR-3B May Become Costly From New Year Read More »

Latest GST News, Information, Notifications & Announcements

Latest GST News, Information, Notifications & Announcements [Period 13/12/21 to 19/12/21]

1. Clarifications Regarding E-commerce Operators Liable To Pay GST On Restaurant Services: CBIC clarified that the e-commerce operators are liable to pay GST on restaurant services. The GST Council in its 45th meeting held on 17th September, 2021 recommended to notify‚ ‘Restaurant Service’ under section 9(5) of the CGST Act, 2017. Accordingly, the tax on …

Latest GST News, Information, Notifications & Announcements [Period 13/12/21 to 19/12/21] Read More »

GST UPDATE

Attention GST Taxpayers! Last due date for filing under this category

Attention GST Taxpayers who are not under QRMP Scheme! Due date to file your monthly GSTR-3B Return for the month of November, 2021 is December 20, 2021. Filing of GSTR –3B Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY Tax period Due Date No interest payable till Particulars     November, 2021 …

Attention GST Taxpayers! Last due date for filing under this category Read More »

GST PORTAL UPDATES

Latest GST News, Information, Notifications & Announcements [Period 06/12/21 to 12/12/21]

New Functionalities On GST Portal: Registration: – A functionality has been introduced for taxpayers to withdraw their application for cancellation of registration, filled in Form REG-16 Effective date of Suspension will be displayed on Portal. Refunds, Registration, Returns and Payment: – Earlier companies were mandatorily required to use DSC on the GST Portal now the facility of using …

Latest GST News, Information, Notifications & Announcements [Period 06/12/21 to 12/12/21] Read More »

Alert: GST Department is Sending Recovery Emails To Those Who Have Filed Returns And Taken ITC Claim After Due Date

The GST department is sending mails to dealers who have filed GST returns and taken Input Tax Credit (ITC) after the due date, asking them to pay ITC along with interest. The department says that if the dealers do not do so, recovery action will be taken against them. Actually, in section 16(4) of the …

Alert: GST Department is Sending Recovery Emails To Those Who Have Filed Returns And Taken ITC Claim After Due Date Read More »

GST Department Is Issuing Notices For Mismatch In Input Tax Credit

GST Department Is Issuing Notices For Mismatch In Input Tax Credit

We all know that CBIC had allowed mismatch of 20%, 10% and 5% for the difference between ITC as available in GSTR-2A/ 2B and the ITC as claimed in GSTR-3B Return. Consequently, GST Department has started issuing notices to several companies after tracking huge mismatch in ITC available and ITC claimed. The department is of …

GST Department Is Issuing Notices For Mismatch In Input Tax Credit Read More »

Supreme Court Reverses The Decision of Delhi High Court In The Case of Bharti Airtel Ltd.

The Delhi High Court [W.P. (C) No. 6345 of 2018 dated May 05, 2020] had allowed Bharti Airtel Ltd. to rectify GSTR-3B Return for the period July 2017 to September 2017 and claim refund. The Delhi High Court also directed the Respondents that on filing of the rectified Form GSTR-3B, they shall, within a period …

Supreme Court Reverses The Decision of Delhi High Court In The Case of Bharti Airtel Ltd. Read More »

Today is Most Important Due Date For Monthly Filers of GSTR-3B Return. Know Why

Today is Most Important Due Date For Monthly Filers of GSTR-3B Return. Know Why

Today (i.e. 20th October 2021) is the last date for filing monthly GSTR-3B Return for September 2021. It is most important to note that today is also the last date for claiming unclaimed ITC for the Financial Year 2020-21. So, please reconcile accordingly and claim unclaimed ITC of Financial Year 2020-21 by today. Also Read: …

Today is Most Important Due Date For Monthly Filers of GSTR-3B Return. Know Why Read More »

Removing Doubts: What is The Actual Due Date for Claiming ITC of FY 2020-21

Removing Doubts: What is The Actual Due Date for Claiming ITC of FY 2020-21

Almost all taxpayers and professionals are thinking that last date for claiming ITC of FY 2020-21 is 20th October 2021. But it is not correct. To understand this, let read the lines of section 16(4): “A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note …

Removing Doubts: What is The Actual Due Date for Claiming ITC of FY 2020-21 Read More »

Advisory on Revamped Search HSN Code Functionality

Automatic Calculation of Interest in GSTR-3B and Other Upcoming GST Portal Related Updates. Read All Details Here

Important Upcoming GST System Enhancement Auto-Interest Computation in GSTR-3B/GSTR-5/CMP-08 Negetive Liability in GSTR-3B Changes in Tax liabilities and ITC Comparison Report Converting IGST Refund withheld cases at ICEGATE into RFD-01 Refund of GST paid on Advances but supplies not made Enabling EVC option even for Companies/LLP in registration module Geo-Spatial data Integration for taxpayers to …

Automatic Calculation of Interest in GSTR-3B and Other Upcoming GST Portal Related Updates. Read All Details Here Read More »