♥ After observing that the majority of tax payers are not reporting details in Table 3.2 of GSTR-3B, the circular has been issued to clarify that the tax payers has to fill the details of supplies to unregistered dealers mandatorily in table 3.2 of GSTR-3B and also in table 7B of GSTR-1.
♥ It is mentioned that such disclosure is essential for distributing the funds to respective states.
♥ It is also clarified that the non-compliance would lead to levy of penalties u/s 125 of the act.
♥ After observing that few of the tax payers (majority of banking, insurance and telecom sectors) are not specifying the Place of supply (POS) for the IGST invoices in accordance with Rule 46(n), the circular has been issued to clarify that the POS and name of the state as a mandate.
♥ It is also clarified that the non-compliance would lead to levy of penalties u/s 122 or 125 of the act.
♥ In Circular 46/2017 Customs Dated 24.Nov.17, it was clarified that,
♥ In Circular 3/2018 IGST Dated 25th May, 18, it was clarified that, considering the amendments in the Customs Tariff act,
♥ Further, the department has noticed that, from Jul’17-Mar’18,
♥ Therefore, the department hereby clarified that, such errors if any, made during the period Jul’17-Mar’18 shall be condoned and considered as proper compliance of the law.
♥ It would also imply that, if any person missed to pay tax on such supplies, same shall be paid.
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