GST Tip – 463 : What we can understand is that hardly 50% of the taxpayers have filed GSTR -1 and if enforcement is undertaken immediately it means that about 50% of the taxpayers will receive notices and at the same time many of the taxpayers have to reverse the ITC with interest if matching […]
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 Circular No. 05/2018-Customs, the exporters have to fill the Table 6A of the GSTR – 1 with correct details like the Invoice number, Taxable value, IGST paid, Shipping Bill number, Shipping Date and Port Code. If the above values are missing or not matching the refund application will not be processed.
Recommendations regarding Data Analytics made during the 26th meeting of the GST Council Posted On: 10 MAR 2018 4:45PM by PIB Delhi In the 26th meeting held here today , the GST Council has been apprised of the fact that CBEC and GSTN have started detailed data analytics across a number of data sets available with […]
As per Notification No 4 – Central Tax, the late for the filing of GSTR – 1 is Rs 25 per day in case of regular returns and in case of Nil returns is Rs 10 per Day.
Supplies made to a Merchant exporter can now be reported in the GSTR – 1 in Table 6A. A new row has been added to report such supplies @ 0.1%.
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 […]
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 […]
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 […]
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 […]