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 […]
The total Gross GST revenue collected in the month of April 2018 is Rs.1,03,458 crore of which CGST is Rs18,652 crore, SGST is Rs.25,704 crore, IGST is Rs. 50,548 crore (including 21,246 crore collected on imports) and Cess is Rs.8554 crore (including Rs.702 crore collected on imports). The total number of GSTR 3B Returns filed for the […]
As per Circular No. 05/2018-Customs, Exporters have to file GSTR 3B with taxable value for export and IGST paid against exports indicated in appropriate fields before filing of the application for the refunds by the taxpayer under GST.
Recommendations made during the 26th meeting of the GST Council held in New Delhi Today Return filing System The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group […]
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 the new features released in the GSTN portal thee is no need for the submission of the GSTR – 3B before filing, it can be filed directly.
Return filing process made simple and user-friendly for GSTR – 3B effective from today morning. Happy Return filing.
If the supplier of goods or service is not paid within 180 days of the issue of the tax invoice, the recipient has to reverse the ITC availed and show it in the GSTR – 3B of the December 2017 to be filed by 20th January 2018. This provision is similar to the provision we […]
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 […]