Reading Time: 2 minutes Annual Return GSTR 9, after considering the worsening condition of corona pandemic, The Central Government has provided some relief to the taxpayers, Most of Tax Professionals were demanding the extension of at least three months for all kind of return falling due on 30th Sept 2020 but the relief is given for only one month
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Reading Time: 2 minutes Matching Offline Tool, Using Matching Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register An offline tool has been made available to the taxpayers to match Input Tax Credit (ITC), as auto populated in their Form GSTR-2B, with their purchase register. This tool will help the taxpayer to compare their ITC
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Reading Time: 2 minutes Delinking of Credit Note, The De-linking of original invoices and credit and debit notes has been implemented on the common portal. This amended was made vide CGST amendment Act, 2018 w.e.f Feb 01, 2019. However, the same is incorporated on September 14, 2020, on the portal. Till now, original invoice number was mandatorily required to
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Reading Time: 2 minutes GST-n-You Creative Contest,  Goods and Services Tax Network invites creative entries in form of videos (animation, tutorials, short-films etc.) of 30-120 seconds or static graphics on the various recent initiatives and reforms on GST, like following List:- GST – One nation, one tax, one market, GST and reduced taxes on MSMEs, GST and automated compliance,
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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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