GST Returns, GST Ledgers & HSN Directory- New Functionality

GST Returns- New Functionality

i. Moving the records saved in IFF, to later months of same Quarter, by taxpayers under QRMP Scheme

Following enhancements have been made for the taxpayers under QRMP Scheme in the Invoice Furnishing Facility (IFF):

• Taxpayers can now MOVE the records saved in their IFF of first month of a quarter (if the time for filing it has expired) to IFF of second month of the quarter.
• Taxpayers can also MOVE the records saved in IFF of first month & second month of the quarter (if the time for filing it has expired) to their quarterly Form GSTR-1 (of the same quarter). Please note that the records can be moved only within a quarter.
• While preparing IFF/GSTR-1 (of later months of same quarter) online, in case of saved records, taxpayers will get a pop-up prompting them to either MOVE the records by selecting YES or delete them by selecting NO

ii. Auto population of GSTR-3B liability, for taxpayers under QRMP Scheme, from their IFF and GSTR 1

A taxpayer under QRMP Scheme can declare their liability through optional IFF for Month 1 and Month 2 of a quarter & Form GSTR-1 for Month 3 of the quarter. Declaration of liability in these forms, would now be auto-populated in their Form GSTR-3B (Quarterly) of that quarter, based on their filed Form GSTR-1 and IFF.

iii. Filing for refund of accumulated ITC by taxpayers making exempt/ nil-rated supplies, by selecting an option of not having an LUT number in the refund application

A taxpayer is required to enter a valid LUT number, while applying for refund of accumulated ITC, on account of exports of goods and services without payment of tax and supplies made to SEZ without payment of tax.

• To enable a taxpayer making exempt and/or nil-rated supplies, without LUT, to file a refund application (as they don’t have a valid LUT number to enter in the refund application), the Form RFD-01 has now been modified.
• At the time of refund filing, such taxpayers would now be asked to select one of the following options:
  • I have a valid LUT number.
  • I don’t have a valid LUT number, since I am making only exempt/ nil rated supplies.
  • Such taxpayers can now select the second option to proceed with filing of their refund applications.

Ledgers- New Functionality

iv. Facility to view ledger for 12 months and its download

Taxpayers have now been provided with a facility to view their ledgers (viz. Electronic Credit Ledger, Electronic Cash Ledger and Electronic Liability Register (Part-I & II)) on their dashboard, for a period of 12 months, instead of 06 months earlier. The details can now also be downloaded in pdf and Excel formats

iv. Transfer of amount in cash ledger, between major/minor heads, by Temp ID holders and unregistered applicants

Temp ID holders and unregistered applicants have also now been provided with the functionality, to transfer the amount within cash ledger from one major/minor head to another major/minor head, through Form GST PMT-09

vi. Negative liability statement made available to composition taxpayers

In case of a negative liability in any tax period of a composition taxpayer (and if no amount is required to be paid by the taxpayer (during that period)), the said negative liability will be maintained in Negative liability statement. This negative balance lying in the negative liability statement will be automatically adjusted against the liabilities of subsequent tax period(s).

The statement would be accessible to them, post-login, by navigating to Services > Ledgers > Negative Liability Statement.

HSN Directory- New Functionality

vii. Inclusion of common names in the HSN Directory and its download in excel format by the taxpayers

The currently available HSN Master has been updated on the GST Portal and it now includes product names commonly used in Trade corresponding to a particular HSN code.

A download facility for the entire HSN directory in Excel Format has also been provided to the taxpayers under the link “Download HSN in Excel Format”. This facility is available as a part of the ‘Search HSN’ functionality, available both in Pre and Post Login, on the GST Portal.