New Functionalities have been deployed on the GST Portal today as notified by GSTN. Following functionalities are now available for the taxpayers on the Portal: 1. GSTR 9, Table 8A Excel Download: You can now download document-wise details of Table 8A of GSTR 9, from the portal. This will enable you to reconcile the ITC values showing in GSTR 9 and GSTR 2A and see your ITC eligibility at invoice level 2. Revocation of Registra..
The technical glitches on the GST Portal are not new for the taxpayers. Just when you think it could not get worse, a new problem emerges on the portal. A few days back taxpayers were complaining that they could not view, file, or download returns on the GST Portal for the year 2017. The data for the year 2017 was lost or no longer available on the portal. The GSTN assured the taxpayers that they will soon restore the data on the portal for the year 2017. And as per the latest update from the..
Now you can file your NIL GSTR-1 through SMS too. This facility has already been provided for NIL filing of GSTR-3B. Please send SMS in the prescribed format to avail the facility of NIL filing of GSTR-1 and GSTR-3B through SMS. ..
Rationale behind introduction of ITC-02A: There are so many taxpayers who owns different business in the same state but the risks and rewards and set up of the businesses may be completely different from one another. So taxpayer needs to take separate GST registration for each different businesses he owns. (As permitted by proviso to section 25(2)) Now, situation may arise that sometimes assets i.e. the inputs, input services or capital goods requ..
Facility for registration of IRP/RPs made available on the GST Portal Insolvency Resolution Professionals/ Resolution Professionals (IRPs/RPs), appointed to undertake corporate insolvency resolution proceedings for Corporate Debtors, in terms of Notification. No 11/2020-CT, dated 21st March, 2020 can apply for new registration on GST Portal, on behalf of the Corporate Debtors, in each of the States or Union Territories, on the PAN and CIN of the Corporate Debtor, where the corporate debtor was regist..
Facility of PMT-09 and filing GSTR-3B without DSC on GST Portal ..
The GST portal has come out with two new facilities for the taxpayers. The long-awaited form GST PMT-09 is now available on the GST Portal. Facility to file GSTR-3B without affixing DSC (Digital Signature Certificate) The option to file GSTR-3B by EVC(Electronic Verification Code) instead of DSC is made available on the GST portal. Taxpayers can submit GSTR-3B without DSC. It appears that for other returns and documents also the system will provide such a..
Form PMT-09 allows the transfer of an amount from one head to another head. PMT-09 enables a registered taxpayer to transfer any amount of tax, interest, penalty, etc. that is available in the electronic cash ledger, to the appropriate tax or cess head under IGST, CGST and SGST in the electronic cash ledger...
The interest rate for late filing of GSTR-3B have been notified on the GST Portal. Interest will be levied @18% for taxpayers having turnover >Rs 5 crore if the return is not filed by the 24th of June. Here is what the official notice reads on the GST Portal: Interest liability for filing Form GSTR-3B a. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY <tbody..
The Finance Minister announced various relaxations in the form of extension of filing dates, waiver of late fees, and reduced interest rates. To give effect to the relaxations a list of notifications was issued on the 3rd of April. However, there was still confusion among the tax practitioners if due dates for GSTR-1 and GSTR-7 have been extended or not. The GST Portal notified the extended filing dates which clear all the clouds. Here is what the official notice on the GST Portal says: Filing Dates extended for providing r..
NCLT: Directs for access of GST Portal to Corporate Debtor to pay GST liability..