According to Hon'ble Supreme Court’s directive filing of TRAN forms was made available for aggrieved taxpayers during 01.10.2022 to 30.11.2022. It has been observed that, in the process of filing TRAN forms, few taxpayers have submitted their forms on the portal but did not finally File it within the specified time. After submitting the Tran Forms, only filing was to be done with e-sign. Further, it is seen that such taxpayers have not raised any ticket for dif..
Changes have been brought in by CBIC in the filing process of Form GSTR 3B vide Notification no. 14/2022 Central Tax dt. 5th July 2022 and Circular no. 170/02/2022-GST dt. 6th July 2022. The three major changes are: Introduction of table 3.1.1 for e-com transaction u/s 9(5) of the CGST Act, 2017; Reporting in table 3.2 made mandatory; and Reporting format changes in table 4. Updated Table 4 reporting process Form 3B Table 4 format as amended by the aforesaid notificat..
1. The Central Government has amended Section 37 & Section 39 of Central Goods & Service Tax Act (CGST), 2017 vide Notification No. 18/2022–Central Tax dated 28th September, 2022 with effect from 01 October, 2022. According to section 37(4) of CGST, Act, a taxpayers shall not be allowed to file GSTR-1 if previous GSTR-1 is not filed and as per sec 39(10) a taxpayer shall not be allowed to file GSTR-3B if GSTR-1 for the same tax period is not filed. 2. Section 37(4) & 39(10) ..
COMPARISON OF TABLE 4 OF FORM GSTR-3B BEFORE AMENDMENT AFTER AMENDMENT CHANGE (A) ITC Available (whether in full or part) (A) ITC Available (whether in full or part) (1) Import of goods (1) Import of goods No Change (2) Import of services ..
The Government vide Notification No. 14/2022 -Central Tax dated 05th July, 2022 notified few changes in Table 4 of Form GSTR-3B requiring taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B. The notified changes in Table 4 of GSTR-3B have now been implemented on the GST Portal. ..
The Goods and Services Tax Network ("GSTN") vide Advisory dated July 20, 2022 state that E-Commerce Operator ("ECO") are liable to pay GST on specified supply of services under Section 9(5) of the Central Goods and Services Tax Act, 2017 ("the CGST Act") viz. Passenger Transportation Services, Accommodation Services, House Keeping Services and more specifically, Restaurant Services and all provisions of the CGST Act shall apply to such ECO as if he is the supplier l..
1. The Government vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 has notified few changes in Table 4 of Form GSTR-3B requiring taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B. The detailed Notification can be viewed by clicking here 2. The notified changes in Table 4 of GSTR-3B are being implemented on the GST Portal and will be available shortly. Until these changes are implemented on ..
According to section 9(5) of CGST Act, 2017, Electronic Commerce Operator (ECO) is required to pay tax on supply of certain services notified by the government such as Passenger Transport Service, Accommodation services, Housekeeping Services & Restaurant Services, if such services are supplied through ECO. For reporting of such supplies a new Table 3.1.1 is being added in GSTR-3B as per Notification No. 14/2022 – Central Taxdated 05th July, 2022 wherein both ECOs and registered person..
The Finance Ministry on Friday released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15. The GST Council in its meeting last month recommended that the changes in GSTR-3B or monthly tax payment form be placed in public domain for seeking inputs and suggestions of the stakeholders. "Accordingly, general public and the trade at large are hereby informed that a detailed Concept Paper on comprehensive changes in FORM GSTR-3..
After the introduction of GSTR-2B and auto population of figures in GSTR-3B, there has been greater accountability on the taxpayer to ensure that ITC has been claimed only for those invoices which are furnished by suppliers in their GSTR-1 are claimed as ITC. However, there were additional associated challenges faced by the trade, such as time gap in claiming ITC (goods in transit, goods in quality control, delays in accounting etc.) resulting in spike or reduction in claim of ITC compared to th..
In order to accommodate new changes in the law and new disclosure requirements, the present GSTR-3B may see some changes soon, as specifically mentioned in the press release of the 47th council meeting. A revised GSTR-3B form may be put up in the public forum for comments and suggestions. However, seeing that the process to revamp GSTR-3B may be tedious and time-consuming, some changes in the Form have been introduced w.e.f 5th July 2022 vide NN 14/2022-CT along with clarity provided through Cir..
Changes in reporting of input tax credit in GSTR-3B [Notification No. 14/2022 - Central Tax dated 5th July 2022 read with Circular No.170/02/2022 dated 6th July 2022] COMPARISON OF TABLE 4 OF FORM GSTR - 3B BEFORE AMENDMENT AFTER AMENDMENT CHANGE (A) ITC Available (whether in full or part) (A) ITC Available (whether in full or part) No Change ..
There is one joke on GST which says - the volume of circulars & notification weighs more than GST Act itself. Absolutely true that, just relying on GST Act & rules is not sufficient. We would have to refer various circulars and notifications issued on time to time by CBIC to be 100% compliant. There has been many changes made in GSTR 3B from the inception to make GSTR 3B more effective tool to collect taxes. It has been observed by CBIC is that different practices are being followe..
Amount of Ineligible/Blocked Input Tax Credit and Reversal thereof in Return FORM GSTR-3B In this article, I am going to discuss only that part of the circular which is related to Table 4 of GSTR 3B. Main object of the Circular 170/02/2022 dated 06-07-2022 (Specifically for GSTR 3B) is to guide for presentation of eligible, ineligible, reversal and reclaiming of reversed ITC in a proper and uniform manner nationally. Format of GSTR 3B Table 4, is given below because various references w..
What is GSTR 3B? GSTR-3B is a self-declared summary GST return filed every month (quarterly for the QRMP scheme). Taxpayers need to report the summary figures of sales, ITC claimed, and net tax payable in GSTR-3B. A separate GSTR-3B must be filed for every GSTIN The GST liability must be paid on or before the date of filing GSTR-3B, earlier of its due date The GSTR-3B once filed cannot be revised Even in case of a zero liability, GSTR-3B must be compulsorily filed W..
The Goods and Services Tax Council is set to discuss a slew of law changes it is looking to introduce. This would include amendments to GSTR3B - the monthly GST return to be filed by taxpayers - among others. The GST Council will reportedly ease compliance bottlenecks for e-commerce suppliers by allowing them to register under the composition scheme, a move that is expected to ease registration and also reduce tax outgo. The Council is also likely to allow the usage of the govern..
The due date for filing FORM GSTR-3B for the month of April, 2022 has been extended till 24th May, 2022 (Refer notification No. 05/2022-Central Tax dated 17.05.2022, as attached below) ..
Now CBIC directs Infosys to sort glitch in generation of April 2022 GSTR-2B. Proposal for extension of due date being considered! ..
For seeing an illustration of interest computation in GSTR-3B by the system with sample values & screenshots, click here 1. The new functionality of interest calculator in GSTR-3B is now live on the GST Poral. 2. This functionality will facilitate & assist the taxpayers in doing self-assessment. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers, along with the details about the period to ..
Facility for auto-computation of Interest for GSTR 3B 1. Introduction As a facilitation measure for taxpayers and for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. This functionality shall assist the taxpayers to arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers. The interest applicable, if any, on the tax liability declared in the GSTR-3B of ..
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