Goods and Services Tax : The government has introduced mandatory reporting of Harmonized System of Nomenclature (HSN) codes in Table-12 of GSTR-1 to enhanc...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Goods and Services Tax : Learn about the 55th GST Council recommendations on credit notes, amendments to CGST laws, and their impact on suppliers and recip...
Goods and Services Tax : From January 2025, reporting HSN codes in GSTR-1/1A Table 12 is mandatory. Key changes include auto-populated descriptions, dropdo...
Goods and Services Tax : Explore Section 61 of CGST Act, covering scrutiny of GST returns, officer's authority, taxpayer obligations, and implications for ...
Goods and Services Tax : CBIC detected Rs. 36,374 crore worth of fake ITC in FY 2023-24 involving 9,190 cases. Key measures and data on ITC fraud detection...
Goods and Services Tax : Explore the impact of the 53rd GST Council Meeting recommendations, including waivers on interest and penalties under Section 73, ...
Goods and Services Tax : GSTR-1A allows taxpayers to promptly rectify any errors or omissions in their GSTR-1 submissions within the same period. This feat...
Goods and Services Tax : Stay updated with the latest GST advisory on GSTR-1/IFF: Introduction of Tables 14A and 15A. Learn about amendments for e-commerce...
Goods and Services Tax : Explore how the Ministry of Finance unearthed Rs. 44,000 crore bogus input tax credit claims in GST. Details of measures taken to ...
Goods and Services Tax : Gujarat High Court quashes ₹1.63 Cr GST demand, ruling SEZ to DTA supply as import. Proper adjudication required for tax assessm...
Goods and Services Tax : Andhra Pradesh HC rules cancellation of GST registration without personal hearing is illegal, directing the government to reconsid...
Goods and Services Tax : Madras High Court held that due to non-compliance against notice issued in DRC-01A, the petitioner is directed to deposit 25% of t...
Goods and Services Tax : Madras High Court held that due to non-compliance with notice issued under GST, the petitioner is required to deposit 25% of dispu...
Goods and Services Tax : Madras High Court held that order confirming demand due to mismatch between returns under GST set aside with condition to deposit ...
Goods and Services Tax : Draft GSTR-2B for December 2024 (Oct-Dec 2024 quarter) will be generated on January 16, 2025, following extended return filing dea...
Goods and Services Tax : The GST filing deadline for outward supplies in FORM GSTR-1 for December 2024 is extended to January 13, 2025, and for Q3 2024 to ...
Goods and Services Tax : The Supplier View functionality in GST IMS allows suppliers to track actions taken by recipients on invoices, ensuring better tr...
Goods and Services Tax : GSTN issues advisory on the new Invoice Management System (IMS) for accepting or rejecting supplier invoices, impacting GSTR-2B an...
Goods and Services Tax : GST introduces Invoice Management System (IMS) from October 2024, enabling taxpayers to manage and rectify invoices for accurate I...
GSTN recently introduced functionalities for taxpayers on GST portal. Brief analysis of these functionalities are summarized herein below : 1. New tab for ‘Communication between GST taxpayers’: The said functionality is introduced to enable communication between the supplier and recipient with respect to any issue for any inward/ outward document. This shall help the taxpayers […]
15/12/2020 1. Auto Populated details in Form GSTR 3B: Now, 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 the following: 1. Liabilities in tables-3.1 & 3.2 of Form GSTR-3B (except Table-3.1 […]
Certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from such e-invoices are be auto-populated in respective tables of GSTR-1.
Who can opt for the scheme: Following registered person (hereinafter RP) can file quarterly returns and pay tax on monthly basis w.e.f. 01.01.2021 : An RP who is required to file Form GSTR 3B with AATO of up to Rs 5 Cr. in the previous financial year is eligible. If AATO crosses Rs 5 Cr. during a qtr., RP will become in-eligible for the Scheme from next quarter.
It is held by Appellate Authority – GST, ANDHRA PRADESH in case of Sri Kali Krishna Industries Vs Assessing Authority AP that mere mismatch in GSTR 3B & GSTR 1 is not conclusive for any suppression of tax. The contentions submitted by the taxpayer need to be examined before issuing an order. Brief Fact of […]
FROM 01-01-2021 , GST RETURN FILING SYSTEM will see complete change. (We call it version 3.0) . Intention to Overhaul GST return filing system, But is it the correct solution in reality??? We will find out that in future . FYI, NOTIFICATION 82 TO 85 to notify/amend rule 60/61/62/61A. Also Circular No. 143/13/2020 is issued […]
In the previous part of this article, we had discussed the updates pertaining to GSTR-3B and R-1. To read the same, kindly refer to the link – (https://taxguru.in/goods-and-service-tax/forthcoming-amendments-gst-returns-part-1.html) In this article, we would be discussing the important aspects to be considered by the taxpayers due to the implementation of Form GSTR-2B w.e.f. 01st January 2021. […]
Recent notifications from CBIC dated 10th November 2020 tend to implement several amendments pertaining to returns to be filed by the registered persons. Being most of the taxpayers are choked with GST – annual returns, ITR filing, day-to-day business chores, etc. This article summarizes the amendments notified in a lucid way. For the better purpose […]
The Central Government is looking to overhaul the return filing system with a view to provide some relief to taxpayers with aggregate turnover under GST less than Rs. 5 crores. In this regard, it has released certain notifications to lay down a new scheme of return filing for such taxpayers. We have tried to summarise […]
1. Certain notified taxpayers have to prepare and issue their invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). 2. Upon successful generation of IRN, details of such e-invoices will be auto-populated in respective tables of GSTR-1. The details of e-invoices available for auto-population along with status of […]
