Reading Time: 2 minutesGovernment has granted waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May, 2021, vide Notn. Nos. 18/2021 & 19/2021, both dtd. 1st June, 2021. The details are summarized below: A. Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B
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Reading Time: < 1 minuteGovernment of India has extended the dates of various compliances by Taxpayers under Goods and Services Tax system vide Notn No 12/2021-CT, dated 1st May, 2021, r/w Notn No 17/2021 CT dated 1st June, 2021, Notn No 14/2021-CT, dated 1st May, 2021,r/w Notn No 24/2021-CT, dated 1st June, 2021, Notn No 25/2021-CT, dated 1st June, 2021, Notn No 26/2021-CT, dated
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Reading Time: 2 minutesWaiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021, GoI has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April,
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Reading Time: < 1 minuteExtension of GST Due dates, The CBIC has extended the dates of various compliances by Taxpayers under GST, vide Central Tax Notification Nos. 10/2021, 11/2021, 12/20211, 13/2021, 14/2021, all dated 1st May, 2021. The details are summarized below: D. Filing of Form GSTR-1/IFF by Normal Taxpayers: Sl.No. Return Type(Form) To be filed by Tax period Due Date Due Date
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Reading Time: 2 minutesGST Composition Scheme 2021-22 ,Taxpayers who were registered as a regular taxpayers in previous year , but are going to opt-in for composition scheme for 2021-22, must file Form GST ITC-03 for reversal of ITC on stocks of inputs, semi-finished goods and finished goods available with them, within 60 days from the effective date of opting in How
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Reading Time: 2 minutesPayment method under QRMP Scheme, The Central Board of Indirect Taxes & Customs (CBIC) introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to help small taxpayers whose turnover is less than Rs.5 crores. The QRMP scheme allows the taxpayers to file GSTR-3B on a quarterly basis
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Reading Time: 2 minutesAadhaar Authentication on GST Portal, Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication or e-KYC on GST
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Reading Time: 2 minutesInvoice Furnishing Facility (IFF), An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and also of Form GSTR-3B returns), as per sub-rule (2) of Rule-59 of the CGST Rules, 2017. Taxpayers who have opted for quarterly filing frequency under the scheme can file their details of
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Reading Time: 2 minutesCommunication Between Taxpayers, Facility of ‘Communication Between Taxpayers’ has been provided on the GST Portal, for sending a notification by recipient (or supplier) taxpayers to their supplier (or recipient) taxpayers, regarding missing documents or any shortcomings in the documents or any other issue related to it. This facility is available to all registered persons, except those
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Reading Time: 2 minutesAuto populated Form GSTR-3B, GST Portal has started Auto population of details in Form GSTR-3B from Form GSTR 1 & GSTR 2B, auto-population of system computed details in Form GSTR-3B, has been enabled for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The same will be done based on
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