Goods and Services Tax : Get a detailed summary of the latest GST notifications and circulars issued on 10 July 2024, including changes in GSTR 1, ISD mech...
Goods and Services Tax : Discover the key decisions from the 53rd GST Council Meeting held on 22nd June 2024, including compliance measures, tax clarificat...
Goods and Services Tax : Explore the 53rd GST Council's decision on interest applicability under Section 50 of CGST Act and the new GSTR-1A amendment facil...
Goods and Services Tax : Explore the key recommendations from the 53rd GST Council meeting, including waivers on penalties, amendments in appeal processes,...
Goods and Services Tax : Discover the key recommendations from the 53rd GST Council Meeting held on 22-06-2024, including changes in tax rates and clarific...
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 : 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 : Standard Operating Procedures for Monitoring Ineligible IGST Input Tax Credit Reversal by Taxpayers in Return Form GSTR 3B (SOP-1/...
Goods and Services Tax : GCCI urges Finance Minister Nirmala Sitharaman for an extension of GSTR 3B filing deadline for October 2023 due to festive closure...
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 : Read the Madras High Court's decision on GST non-reporting issues in monthly and annual returns, despite clerical errors claimed b...
Goods and Services Tax : Explore the Madras High Court judgment setting aside GST liability due to non-production of demanded documents. Detailed analysis ...
Goods and Services Tax : Explore the Gujarat High Court's judgment on CGST interest under Section 50, clarifying it's payable from deposit to electronic ca...
Goods and Services Tax : Madras HC remands the case of Dhirani Metal Industries vs Assistant Commissioner (ST) for reconsideration over GSTR-3B and GSTR-2A...
Goods and Services Tax : Madras High Court quashes GST demand due to GSTR 3B filing error. Allows Bright Hardware to rectify returns and orders a fresh hea...
Goods and Services Tax : Learn about the re-filing of GSTR-3B for taxpayers, its advisory, process, and how to correct discrepancies in ITC availment and t...
Goods and Services Tax : Stay updated with the latest Ministry of Finance notification (No. 07/2024) regarding the Nil interest rate for specified register...
Goods and Services Tax : Stay informed about the latest tax updates! Read about the extension of the GSTR-3B filing deadline for November 2023 in specific ...
Goods and Services Tax : Rule 37(A) of CGST Rules! Learn about ITC reversal obligations, deadlines, and process. Team GSTN provides essential guidance for ...
Goods and Services Tax : Advisory on how to resolve Input Tax Credit (ITC) mismatches between GSTR-2B and GSTR-3B using new GST DRC-01C. Take action to avo...
Deployment of Interest Calculator in GSTR-3B 1. The new functionality of interest calculator in GSTR-3B is now live on the GST Poral. 2. This functionality will facilitate & assist the taxpayers in doing self-assessment. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers, […]
GSTR-3B─Return notified subsequent to Judgment of Gujarat HC to nullify Judgment─No analysis of this crucial aspect by the Apex Court The Hon’ble Supreme court in the case of Union of India v. AAP And Company (2021) 36 J.K.Jain’s GST & VR 519, overruled the judgment dated 24.6.2019 of Hon’ble Gujarat HC : AAP and Co. […]
As we know new functionality of Interest Calculator is being released in GSTR-3B. How it will help taxpayers let us discuss: This new functionality will assist taxpayers in calculating the interest applicable for delay filling of returns. Interest computation- Now, there will be two cases- Interest liability for supplies made during the present tax period. […]
Where a supply could not be declared by the registered person in GSTR 1 of an earlier tax period, though the tax on the same was paid by correctly reporting the said supply in GSTR-3B. The details of such supply may now be reported by the registered person in the GSTR 1 of the current tax period. In such cases, there could be a mismatch between GSTR 1 and GSTR 3B in the current tax period.
Procedure for recovery for Mismatch in GSTR 3B and GSTR-1 Returns: Central Government introduced amendment to Section 75 (12) of the CGST Rules, 2017 by inserting an explanation thereby paving way for recovery of self-assessed tax without having to resort to proceedings u/s 73 or Sec 74 of the CGST Act, 2017. The explanation defines […]
GST Portal will now provide system computed interest in GSTR-3B to facilitate taxpayers in self-assessment. Interest will be computed in accordance with the Section-50 of the CGST Act, 2017 and proviso thereof, as amended. Interest on liability for the present period shall be computed only on the portion of liability paid by debiting the electronic […]
Nodal Officer, Jt. Commissioner Vs. Das Auto Centre (Calcutta High Court) Hon’ble Division Bench of the Hon’ble Calcutta High Court in the matter of Nodal Officer versus M/s. Das Auto CentreM.A.T. 552 of 2020 and others in its judgment dated 14.12.2021 has allowed claiming of transitional credit through GSTR-3B in cases where Form TRAN-1 could […]
There may, however, be some cases where there may be a genuine reason for difference between the details of outward supplies declared in GSTR-1 and those declared in GSTR-3B. For example, the person may have made a typographical error or may have wrongly reported any detail in GSTR-1 or GSTR-3B. Such errors or omissions can be rectified by the said person in a subsequent GSTR-1/ GSTR-3B as per the provisions of sub-section (3) of section 37 or the provisions of sub-section (9) of section 39, as the case may be.
From 1st January 2022, there is no scope for any errors while filing GST Returns. The GSTR 1 cannot be filed, if the previous period GSTR 3B is not filed. The Tax Liability declared in GSTR 1 should be paid in GSTR 3B. The difference between the tax liability of GSTR 1 and GSTR 3B […]
As per the GST Council decision to notify ‘Restaurant Service’ under section 9(5) of the CGST Act, 2017 along with other services notified earlier such as motor cabs, accommodation and housekeeping services wherein the tax on such supplies would be paid by electronic commerce operator if such supplies made through it
