Goods and Services Tax - Uncover most critical challenges related to GST issues, including Section 16(4), RCM, high penalties, & more. Learn actionable solutions to these complicated tax matters....
Goods and Services Tax - Learn about impact of excess Input Tax Credit (ITC) availment on GSTR 1 filing. Discover newly introduced Rule 88D and its implications for addressing ITC mismatches between GSTR 3B and GSTR 2B....
Goods and Services Tax - Delve into the new Rule 88D of CGST Rules addressing ITC disparities between GSTR-3B and GSTR-2B. Explore its evolution, implications, and impact on GST compliance....
Goods and Services Tax - A comprehensive guide to CGST Rule 88D which deals with discrepancies in Input Tax Credit (ITC) between GSTR-2B and GSTR-3B returns, and implications of DRC-01C intimation....
Goods and Services Tax - Today, we're diving deep into the intricacies of Rule 88D from the CGST Rules, 2017. So, what's the fuss all about? Rule 88D has ushered in a new era on the GSTN Portal, focusing on the correlation between Input Tax Credit (ITC) as per Form GSTR-2B and Form GSTR-3B. If your claimed ITC in the 3B form surpasses the limits defined by the C...
Goods and Services Tax - It may be noted that, the Input Tax Credit (ITC) gets auto populated in GSTR3B from GSTR2B only if the taxpayer has not saved any data in GSTR3B for that tax period. 2. The auto population of ITC in GSTR3B will not happen for those taxpayers who have already saved data in GSTR3B. In such […]...
Goods and Services Tax - Considering the difficulties faced by taxpayers in filing their GSTR-3B for the month of April 2022, a proposal to extend the due date of filing GSTR-3B for April 2022 is under active consideration....
Goods and Services Tax - Problems That Taxpayer May Face Due To Recently introduced amendment allowing credit in GSTR 3B only if the same appears in GSTR 2B and due to Visit by GST authorities and attachment of Bank Accounts/Property....
Goods and Services Tax - Rule-60(7) of CGST Rules-2017 prescribes for generation of auto-drafted statement containing the details of input tax credit in FORM GSTR-2B for counter-party recipients. As per Rule-60(8) of CGST Rules-2017, FORM GSTR-2B shall be made available to the recipients after the Due date of filing GSTR-1/IFF by the suppliers. Notification No. 1...
Goods and Services Tax - As the last date of filing GSTR-1 for April, 2021 has been extended up to 26th May, 2021 and IFF up to 28th May, 2021, the GSTR-2B for April, 2021 shall be generated on 29th May, 2021. Source- https://www.gst.gov.in/...
Press Release No. 542 - (13/05/2022) - It has been noticed that in a few cases, certain records are not reflected in GSTR-2B statement for the period of April 2022. However, such records are visible in GSTR-2A of such recipients....
Notification No. 38/2023 – Central Tax - 04/08/2023