Consequent to amendment to section 34 of CGST Act,2017 through CGST (Amendment) Act, 2018 which was made effective from February 1, 2019 , one credit note can be issued against one or more relevant tax invoices. Before this amendment, credit note/debit note could be issued only against one tax invoice, and giving reference to such a tax invoice was mandatory while reporting the debit/credit note in the GSTR1 on the GST Portal. <p..
New functionalities made available for TCS and Composition taxpayers 1.Provision to make amendment, multiple times, in Table 4 of Form GSTR-8 Earlier, if no action was taken on TCS details, auto-populated in TDS/TCS credit form, by the supplier or if the same were rejected by them in the said form, the TCS (e-commerce operators) could amend the details only once. Based on requests received from stake..
As notified by the GSTN, Aadhaar Authentication has now been made mandatory for GST Registration. Now anyone applying for new registration can opt to undergo e-KYC authentication of their Aadhaar number. It has also been notified that one who fails to do so would be subjected to site verification by the tax department. Here is the official update as hosted on the GST Portal: Aadhaar Authenticatiobn process has been introduced, for the persons applyin..
It has been notified by GSTN that the facility to view data and file refund application of period July 2017 has been restored on the GST portal. Various other facilities have also been made available on the GST Portal lately for taxpayers which include: <a href="/news/gstn-notifies-on-downloading..
The GST Portal has notified that the functionality to file a revocation application for cancellation of GST Registration has now been made available on the GST Portal. If the tax officer had rejected your application on or before the 12th of June, 2020 the application can now be filed again on the portal. Here is the updated as hosted on the GST Portal. Functionality to file ..
All the GST Amendment and GST Portal related changes in July 2020 has been presented below. 1. GST AMENDMENT IN JULY 1. Notification No. 58/2020 - CT dated 007.2020: CBIC amends GST Rule 67A which specifies Manner of furnishing of NIL return (GSTR 3B) or NIL details of outward supplies (GSTR 1) by short messaging service facility. Explanation - For the purpose of this rule, a NIL return shall mean a return u/s 39 for a tax period that has nil or n..
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..