Goods and Services Tax : GST reconciliation requires matching GSTR-1, GSTR-3B, and Books of Account to detect errors in output tax and ITC claims. Identify...
Goods and Services Tax : A practical guide to ensuring Bill of Entry data flows correctly from ICEGATE to GSTR-2B. Proper verification prevents ITC blockag...
Goods and Services Tax : The High Court ruled that GST authorities must mandatorily apply Circular No. 183/15/2022-GST before disallowing ITC due to return...
Goods and Services Tax : Introduction: The Death of the Month-End Rush For nearly half a decade, the 14th of every month has been a day of reckoning for In...
Goods and Services Tax : Learn why GSTR-2B, 2A, and books differ, how mismatches occur, and the steps founders must take to claim ITC correctly and stay au...
Goods and Services Tax : GSTN alerts taxpayers about duplicate invoices in GSTR-2B for September and October 2024. Resolution is underway; QRMP taxpayers a...
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 : AGFTC & ITBA highlight issues with GST portal downtime on 10th and 11th April 2024, urging prompt action from authorities....
Goods and Services Tax : Explore latest GSTN advisory on DRC-01C compliance for managing input tax credit discrepancies in GSTR-2B and GSTR-3B. Learn the r...
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 ...
Goods and Services Tax : Allahabad HC dismisses plea in Laxmi Telecom Vs State of U.P., ruling alternative statutory remedies are available for GST dispute...
Goods and Services Tax : During the scrutiny of the petitioner's monthly return, it was found that there was a short payment of taxes due to excess claim o...
Goods and Services Tax : During the relevant period, the petitioner filed its return and paid the appropriate taxes. While scrutinizing the petitioner's mo...
Goods and Services Tax : Madras High Court held that ex-parte order passed under Section 73 of the Central Goods and Services Tax Act without affording ade...
Goods and Services Tax : Kerala High Court held that Section 149 of the Customs Act is an additional remedy available to the person who seek amendment of t...
Goods and Services Tax : Understand how to manage inadvertently rejected invoices, debit notes, and credit notes on IMS, including ITC claims for recipient...
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 : Understand scenarios where GSTR-2B is not generated for October 2024, including QRMP scheme details and filing prerequisites. Read...
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...
Hope you all know very well that, in Goods and Services Tax Act, 2017 there are 2 types of returns to be filed regularly by most of the registered persons. They are GSTR-1 (declaration of invoice wise sales information etc.,) & GSTR-3B (Summary of Sales, GST payable & Input tax credit etc.). Recently, goods and […]
Ignore prompt on liability for inward supplies attracting reverse charge in Table-3.1 (d) The system has started providing auto-populated GSTR-3B on the basis of GSTR-1 & GSTR-2B from the tax period of November 2020 onwards. In this auto-populated GSTR-3B, liability on account of inward supplies attracting reverse charge auto-populated in Table-3.1(d) is also drawn from GSTR-2B of […]
Note on Auto Population of details in Form GSTR 3B from Form GSTR 1 and GSTR 2B Recently GSTN introduced a facility to auto-populate system computed details in Form GSTR-3B for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The mechanism of such auto population shall be as under: […]
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 […]
Respected Madam, My self- Rajesh Deshpande from Pune Maharashtra working as a Manager-Finance in Pharmaceutical Company name of SAVA HEALTHCARE LTD. We would like to bring your kind attention towards current system of ITC availement and issues creating regarding at the time of reconciliation. As you are fully aware that, GST2B is inserted on portal […]
53 GST and Trade Associations, under the banner of the ‘All India Joint Representation Committee for GST’, have come together, to submit a joint representation to the Union Finance Minister, Smt.Nirmala Sitharaman, on various relaxations which are required in GST to ease the suffering of businesses as well as meet the emergent circumstances of lockdown. […]
A. FAQs on Comparison of Liability Declared and ITC Claimed General GST Tax Liabilities and ITC Comparison Report Q.1 What is GST Tax Liabilities and ITC Comparison Report? Ans: The GST Tax liabilities and ITC Comparison report is the comparison of liability declared and ITC claimed by the Taxpayer. The Tax Liabilities and ITC Comparison […]
Sometimes we wonder how creative GSTN authorities are! Ideally, GSTN was supposed to translate the GST law and Rules into the implementable reality. However, they are so creative that they have discovered something which does not even exist!!! It is a well-known fact that while drafting GST Law and Rules, Government had envisaged form GSTR-2 […]
Form GSTR-2B Q.1 What is Form GSTR-2B? Ans. Form GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his/her suppliers in their respective Form GSTR-1 & Form GSTR-5 and ITC received through Form GSTR-6. The statement will indicate availability of Input Tax […]
GST Council in its 39th meeting held on 14th March 2020 had recommended to adopt and implement the incremental approach of linking the present system of filing of FORM GSTR-1 (details of the statement outward supplies) to the liability FORM GSTR-3B. This would be followed by the linking of the input tax credit in FORM […]
