Recent Enhancements on GSTN Portal ( www.gst.gov.in ) - Recently GSTN has rolled out few enhancements on GSTN portal for the benefit of tax payers. Some of the major enhancements being – Introduction of ITC Statement Form GSTR-2B Option to file GST refund application spread across multiple Financial Years Facility to check Bill of Entry (BOE) Info with GST paid on Import of Goods in Form GSTR 2A Additional information about the taxpayer in GST Search Facility We shall d..
Downloading document-wise details of Table 8A of Form GSTR-9 A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This will help the taxpayer in reconciling the values appearing in Table 8A of Form GSTR 9, thus facilitate filling the Form GSTR 9. ..
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 GS..
You may have received an email from GSTN on 4th August, 2020 about Aggregate turnover being more than Rs. 5 Cr during FY 2019-20. The summary and probable explanation of the email received from GSTN is as under – Aggregate turnover for the financial year 2019-20 has been computed by the GST system based on the returns filed in Form GSTR-3B by all registrations on the common PAN which exceeds Rs. 5 Cr. The returns of FY 2019-20 filed upto 25th July 2020 have been considered for the sa..
The CBIC has extended the due dates for opting in for the composition scheme. The GST portal issued an advisory regarding opting for composition for 2020-21. The notice said that, " The taxpayers SHOULD NOT file any GSTR-1/GSTR-3B, for any tax period of FY 2020-21, from any of the GSTIN on the associated PAN, or else they will not be able to opt for composition scheme for FY 2020-21". Here is the official notice: Advisory on Opting-in for Composition Scheme for 2020-21 - Extens..
Why Mr. Nandan Nilekani of Infosys was called in 39th GST Council Meeting? Introduction: Worldwide India is known for Information Technology Supremacy. Large Multinational organisations like Google, Microsoft, Amazon, etc. trust on technical brains from India. GSTN i.e. Goods and Service Tax Network is one of the most significant achievements of Indian tech brains in history of Indian Indirect taxation. It's one of the most important data base and software of tax complian..
The 39th GST Council meeting was held today i.e. 14th March 2020 at Vigyan Bhawan, New Delhi. The meeting was chaired by the Finance Minister Nirmala Sitharaman. The GST Council in its 39th meeting announced that due date to file GSTR 9 and 9C for FY 18-19 will be extended till 30th June 2020. The council also made the following decisions in the 39th GST Council meeting: 1. Interest to be charged on net cash liability with effect from 1/07/2017 The FM in her budget speec..
Advisory for Opting in for Composition (filing Form GST CMP-02) Who can opt in for Composition: Eligible existing Registered taxpayers can opt in for composition, for the financial year 2020-21, by filling up Form GST CMP-02. Your composition scheme shall be effective from 1st April 2020. How to opt in for Composition: A registered taxpayer can apply for composition after login. The navigation to apply for composition is as given below:- Log in to the Taxpayers’ Inter..