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As per the update released on 5th September 20, on GSTN Portal, Values of GSTR 1 have been provided to taxpayers for assistance to get auto-drafted values of Table 3 of GSTR 3B.
Key Actionable Items for FY 2019-20 before September 2020 returns
For a taxpayer, it is essential to determine whether the tax paid on the inward supplies is eligible as Input Tax Credit (ITC) or shall fall within the ambit of ineligible ITC. Section 17(5) of CGST Act 2017 provides for cases wherein a taxpayer would not be entitled to claim ITC unless it falls within the exceptions as provided.
Recently GSTN has rolled out few enhancements on the GSTN portal for the benefit of taxpayers.
GST Registration Process: Amendment in CGST Rules
Recently CBIC issued Notification No 60/2020 enhancing threshold for preparing E-Invoice to Rs 500 Crores. Earlier the said limit for preparing E-Invoice was Rs 100 Crores. The provisions shall come into effect from 1st October, 2020.
Email from GSTN on Aggregate Turnover - How to Respond?
CBIC has issued Notification No 60/2020 - Central Tax and Notification No 61/2020 - Central Tax Dated 30th July, 2020 enhancing threshold for preparing E-Invoice to Rs 500 Crores
CBIC has issued Notification No - 57/2020-Central Tax dated 30-06-2020 waiving/reducing late fees on filing of GSTR 3B for the months of May 20 to July 20 by 30th September 20.
GST Compliance relaxations related to Refund, E-way Bills and Orders
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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