Reading Time: 4 minutes GST e-invoice system, As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN). After following above ‘e-invoicing’ process, the invoice copy containing inter alia, the IRN (with
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Reading Time: 2 minutes Recent Changes in GSTR3B, GSTN has informed that Recent Changes in GSTR3B filing has been made for easier filling, System computed values of GSTR-1 Statement (Monthly filers), made available in Form GSTR-3B, as PDF statement on GST Portal A pdf statement has been made available to taxpayers, filing monthly GSTR-1 statement, with system computed values
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Reading Time: 2 minutes GSTR4 Annual Return, The GSTR- 4 form is the annual return form for the taxpayers who have opted for GST Composition scheme in the new indirect tax system, The taxpayers will also have to file CMP-08 for the payment in every quarter of the year. The due date for each CMP-08 filing is 18th of
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Reading Time: 2 minutes GST Portal Update , The Goods and Service Tax Network has provided the new functionalities made available for TCS and Composition taxpayers under GST Regime, Below are the new functionalities :- 1.Provision to make amendment, multiple times, in Table 4 of Form GSTR-8 Earlier, if no action was taken on TCS details, auto-populated in TDS/TCS
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Reading Time: 2 minutes Form GSTR2B is an auto-generated Input Tax Credit statement, which will be generated for every recipient as per the data filled by the suppliers in their respective Forms GSTR-1, GSTR-5 and GSTR-6., It will clear that the input tax credit is available or not for every document filed by the supplier. Taxpayers can now reconcile data generated
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Reading Time: 2 minutes Interest under section 50, The grievance of the petitioner in this Writ Petition is that he is registered under Central Goods and Service Tax having GSTIN No.21AJIPB2****1ZO. He has filed the returns for the financial year 2017-18, 20018-19 and 2019-20 at a belated stage and availed Input Tax Credit at the time of filing GSTR-3B
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Reading Time: 2 minutes The Central Board of Indirect Tax and Customs (CBIC) had issued a notification on 23rd March 2020, about Aadhar authentication for GST registration from 1st April 2020, amended vide notification 62/2020 dated 20th August 2020 to be made optional. The aadhar authentication for GST registration is not required for non-residents, persons other than citizens of
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Reading Time: 2 minutes Late Fee Relief, providing relief to the taxpayers in view of spread of Novel Corona Virus, Government has extended dates for GST filings as notified vide Not. No. 52 & 54/2020 dt 24.06.2020 and Not. No 57/2020-CT dated 30.06.2020. Late Fee Relief to Normal Taxpayers filing Form GSTR-3B: Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY
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Reading Time: 2 minutes Interest payable on GST, The Central Board of Indirect Taxes and Customs (CBIC) provided a big Relief in Payment of Interest to Normal Taxpayers filing Form GSTR-3B in below mentioned manner : a. Interest payable on GST for Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY Tax period(in 2020) Due Date(in 2020)
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Reading Time: 2 minutes Security Services under GST, In general terms the Security Service means service rendered by any person towards the security of any movable or immovable property or security of any person in any manner. In Service Tax Regime, security services provided by individual, HUF or partnership firm to a body corporate were covered under Reverse Charge
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