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Goods and Services Tax (GST) in India

Goods and Services Tax is the tax levied by the Indian Government on the procurement of goods or services in the country. The tax was introduced in the year 2017. The tax has replaced all the other indirect taxes, like Value Added Tax (VAT), and compressed them into a single tax. GST (Goods and Services Tax) is charged by the government in slabs. The present slabs being 5%, 12%, 18%, and 28%. GST is managed by the Goods and Services Tax Council and is governed by the Goods and Services Tax Act, 2017.

The government keeps on amending and updating the provisions related to different types of taxes for the ease of the taxpayers.

The recent updates and news on the GST Portal are:

30/09/2020

CBIC has extended the due date for furnishing GSTR-9 and GSTR-9C for 2018-19 from 30th September 2020 to 31st October 2020.

23/09/2020

Relief in late fees to Taxpayers filing Form GSTR-4 or 10 and change in the navigation of Comparison of liability declared and ITC claimed the report.

Recent Updates on the GST Portal

18/09/2020

Using Matching Offline Tool to compare ITC auto-drafted in Form GSTR-2B with Purchase Register

17/09/2020

Delinking of Credit Note/Debit Note from the invoice, while reporting them in Form GSTR 1/GSTR 6 or filing Refund.

12/09/2020

Update regarding enabling on e-invoice portal (https://einvoice1.gst.gov.in/ )

05/09/2020

System computed values of GSTR-1 Statement (Monthly filers), made available in Form GSTR-3B, as PDF statement on GST Portal

01/09/2020

New functionalities made available for TCS and Composition taxpayers.

 

01/09/2020

Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal.

29/08/2020

ITC Statement Form GSTR-2B made available on GST Portal for taxpayers

21/08/2020

Provision for Aadhar Authentication in GST Registration

17/08/2020

Downloading document-wise details of Table 8A of Form GSTR-9

06/08/2020

Using Offline Tool to prepare Form GSTR-4 Annual Return by Composition Taxpayers

06/08/2020

Functionality to file Revocation Application under Removal of Difficulty.

08/07/2020

Statistical Report on 3 Years of GST

01/07/2020

Filing NIL Form GSTR-1 through SMS on GST Portal

 

01/07/2020

Relief in late fee to Taxpayers filing Form GSTR-3B

01/07/2020

Relief in late fee to Taxpayers filing Form GSTR-1

01/07/2020

Relief in payment of interest to Taxpayers filing Form GSTR-3B

01/07/2020

Relief in opting for Composition by Taxpayers, filing other Returns & EWB.

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Category GST, Other Articles by - Puneet Taneja 



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