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Author: CMA Bhogavalli Mallikarjuna Gupta

Change in Tax Rates for Composition Taxpayers

The Ministry of Finance has issued the first notification for the year 2018 by reducing the tax rates for the composition taxpayers wide Notification No. 1/2018- Central Tax dated 1st Jan 2018. The tax rates change for the composition taxpayers is applicable for manufacturers and traders.   Sl.No Category of Composition Tax Payer As per  […]

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Due dates for return filing extended

The due dates for the return filing have been extended yet again. The last date for filing for most of them is 31st Dec 2017. Bue again due to the representation of the trade and industry the government has extended the due dates again. The due date for filing of Form GSTR – 1 for […]

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Step by Step guide for filing Form GST TRAN 2 form

Prequisite:TRAN 2 can be filed only if TRAN-1 and GSTR 3B of the relevant tax period is filed. Step1.Navigate to the TRAN 2 page of the desired tax period after logging in , Select the < Financial Year> and < Month> Step2.Table 4 of TRAN 2 would be enabled if records were declared in Table-7(a) (7B) of […]

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Gist of Notifications and Circulars issued on 21st Dec 2017

Notification No – 76 / Central Tax Dated 21st Dec 2017 All taxpayers who have become eligible to take input tax credit as per provision of subsection – 1 of section 18 of the CGST Act are required to file FORM GST ITC – 01 by 31st January 2018. This notification is applicable to all […]

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Decision of GST Council : Inter-State e-way Bill to be made compulsory from 1 st of February, 2018; system to be ready by 16th of January, 2018.

Decision of GST Council : Inter-State e-way Bill to be made compulsory from 1st of February, 2018; system to be ready by 16th of January, 2018. The 24th meeting of the GST Council held today through a video conference. It discussed about the implementation of e-way Bill system in the country. Till such time as National e-way […]

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Advisory for Taxpayers Filing of Quarterly Returns FORM GSTR1

Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has to be filed separately by all taxpayers, as option to file quarterly returns is applicable for returns from August 2017 onwards. If a taxpayer […]

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Advisory – If you opt for reset of GSTR3B, late fee inadvertently gets visible for months for which it has been waived off.

If you opt for reset of GSTR3B, late fee inadvertently gets visible for months for which it has been waived off. Since the form is simply made editable, the entries from old form GSTR-3B is displayed. Upon clicking submit, GST System recalculates the late Fee and it will then be reset to 0. You may […]

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Advisory for Discrepancy between summary shown in Offline Tool and that in the Tile, on the Form GSTR-1 at the GST Portal after uploading of json file

Advisory for Discrepancy between summary shown in Offline Tool and that in the Tile, on the Form GSTR-1 at the GST Portal after uploading of json file The JSON file created by Offline Tool is uploaded by the taxpayer on GST Portal. Sometimes discrepancy is noticed by the taxpayer, in summary displayed in the Offline […]

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Advisory to Recipient Taxpayer if Supplier Taxpayer does not upload an invoice

Suppliers forgets to upload invoices issued to a Registered Recipient In case a supplier fails to upload few invoice(s) for supplies to registered persons in his GSTR1 and has filed his GSTR1, there is no need for undue concern for the recipient (buyer). Though, no invoices can be added to a GSTR 1 once it […]

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Decision of GST Council : Inter-State e-way Bill to be made compulsory from 1 st of February, 2018; system to be ready by 16th of January, 2018.

The 24th meeting of the GST Council held today through a video conference. It discussed about the implementation of e-way Bill system in the country. Till such time as National e-way Bill is ready, the States were authorized to continue their own separate e-way Bill systems. However, it was represented by the trade and transporters that this is […]

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