1. What is Invoice Furnishing Facility (IFF)? Invoice Furnishing Facility (IFF) is a facility provided to quarterly taxpayers to file their details of outward supplies in first two months of the quarter (M1 and M2). The facility will be similar to FORM GSTR-1 but will allow filing for only following tables: 4A, 4B, 4C, 6B, […]
27th GST council meeting discusses change in GST rate for digital transactions and imposition of Sugar Cess
Incentive to promote Digital Transactions: Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which […]
The GST Council on Friday unveiled a new simplified return that would require a taxpayer to file only one return every month and set a period of six months for the transition to take place. “It will take about six month for GSTN to prepare for it so for that period the current arrangement of […]
As per the GST Returns Final Formats, in Table 9 of the GSTR – 1, all the debit notes, credit notes, refund vouchers issued for the supplies made for the earlier period has to be shown here. The documents for the B2B and B2C will be shown here.
As per the Final GST Returns Formats, in table 8 of GSTR – 1, supplies for the month has to be classified as Nil Rated, GST Exempted and Non-GST Supplies have to be shown at a summary level for B2B and B2C for interstate and intrastate.
As per the Final Returns Formats, supplies to B2C have to be shown in Table 7 of GSTR – 1, grouped by Tax Rates only for Intrastate and Interstate supplies. In the case of interstate supplies, it has to be grouped by State Code and then by Tax Rates. HSN Code /SAC Code along with […]
As per the GST Return Formats, In table 5 of GSTR – 1, all inter-state outward supplies to B2C has to be shown here. Columns for Recipient’s State Code, Name of the Recipient, HSN Code, Classification of the line as the supply of Goods or Service and Tax paid on the Provisional basis.