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16.5 lakhs returns filed on 20th of Jan 2021 till 7 PM on GST Portal

  A total number of 16.5 lakhs returns (including GSTR3Bs) were filed on 20th of Jan 2021 till 7:00 PM on GST Portal. During the entire day brisk filing activity was observed and is continuing as of now ..

Posted in news |   759 Views


QRMP scheme launched for taxpayers up to Rs. 5 Cr turnover

Quarterly Return Monthly Payment (QRMP) scheme launched. Now taxpayers up to Rs. 5 Cr turnover have the option to file their GSTR-1 and GSTR-3B returns quarterly. ..

Posted in news |   2 comments |   10950 Views


CBIC reminds taxpayers with Aggregate annual Turnover of up to Rs. 5 crore to file GSTR-3B on or before 22nd Jan 21

Attention GST Taxpayers whose aggregate annual turnover is up to Rs. 5 crore during FY 2019-20 and having principal place of business in State Group 1. Remember to file your monthly GSTR-3B Return for December, 2020 on or before January 22, 2021. ..

Posted in news |   1029 Views


CBIC reminds taxpayers with Aggregate Turnover of more than Rs. 5 crores to file GSTR-3B by 20th January 2021

Attention GST Taxpayers whose Aggregate Annual Turnover is more than Rs. 5 crores during FY 2019-20!  Remember to file your monthly GSTR-3B Return for December, 2020 on or before January 20, 2021. ..

Posted in news |   3 comments |   23301 Views


Due dates for filing of Form GSTR-3B for the Tax Period of December, 2020

Due dates for filing of Form GSTR-3B for the Tax Period of December, 2020 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 10th Nov., 2020, has inserted sub rule 6 in Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax period of December, 2020 as under:   Sl. No Taxpayers with aggregate turn..

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How to Calculate 5% Provisional ITC in FORM GSTR-3B as per the CGST Rule 36(4)?

Introduction Initially registered persons could claim Input Tax Credit on a self-declaration basis in Table 4(a) of GSTR-3B. The ITC that could be claimed on self-declaration basis included a summary figure of IGST, CGST and SGST. There was no requirement for reconciliation with GSTR-2A until clause 4 was added to the rule 36 of CGST rules through notification no. 49/2019 dated 9th October,2019. What is Rule 36(4) of CGST Rules? As per Rule 36(4), Input tax credit to be availed by a reg..

Posted in articles |   2 comments |   13047 Views


4 Warnings in GSTR 3B w.e.f. Nov 2020 onwards, which can’t be ignored

Arjugstn (Fictional Character): Krishna, what are the warnings which taxpayers can’t afford to ignore in GSTR-3B from November 2020 onwards? Krishna (Fictional Character): Arjuna, there are four warnings that need to be critically taken care of in GSTR-3B from November 2020 onwards. First, in GSTR-1 and GSTR-3B about outward supplies in Table 3. Second, in GSTR-2B and GSTR-3B about RCM in table 3. Third, GSTR-2B and GSTR-3B about ITC in table 4 and fourth, GSTR 2B and GSTR-3B ..

Posted in articles |   1 comments |   21975 Views


Auto Population of details in Form GSTR 3B from Form GSTR 1 and GSTR 2B

Recently GSTN introduced a facility to auto-populat e system computed details in Form GSTR-3B for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The mechanism of such auto population shall be as under : Liabilities in Tables-3.1 & 3.2 of Form GSTR-3B (except Table-3.1 (d) pertaining to inward supplies liable to reverse charge), are computed by the system on the basis of details of outward supplies as filed in Form GS..

Posted in articles |   1 comments |   9456 Views


Due dates for filing of Form GSTR-3B for the Tax Periods from October 2020 till March 2021

1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 11th Nov., 2020, has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from October, 2020 till March, 2021. The details are as under: Sl. No Taxpayers with aggregate turnover (PAN based) in the previous financial year And Taxpayers having..

Posted in news |   1 comments |   4920 Views


Internal Audit in GST - GSTR-1, GSTR-3B, GSTR-2A, and More

What is an internal audit under GST? Internal audit under GST refers to the examination of the accounts and records of a GST registered business/individual by a certified accountant. This is done by analyzing the turnover, GST paid, refund availed, Input Tax Credit claimed, etc. The internal audit team is responsible for analyzing books of records against GST returns to identify and rectify any mismatch and ensure compliance with the GST laws. For an internal audit, specific testing proced..

Posted in articles |   2 comments |   15228 Views


GST field formations cancelled 1,63,042 registrations in Oct & Nov 2020 due to non-filing of GSTR-3B returns for more than 6 months

To handle the menace of fake firms, fly-by-night operators, and circular trading entities, GST field formations cancelled 1,63,042 registrations in the month of Oct & Nov this year due to non-filing of GSTR-3B returns for more than 6 months: Department of Revenue (DoR) sources. ..

Posted in news |   2 comments |   4287 Views


Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021

.auto-style1 { font-weight: normal; } 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 11th Nov., 2020, has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from October, 2020 till March, 2021. The details are as under: Sl. No Taxpayers with aggregate turnover (PAN based) in the prev..

Posted in news |   18003 Views


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