Highlights of the Recommendations  in GST Council meeting held today

HIGHLIGHTS OF THE RECOMMENDATIONS  IN GST COUNCIL MEETING HELD TODAY Return Filing All taxpayers need to file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. Taxpayers would be divided into two categories for filing GSTR-1 as below: Taxpayers having annual turnover of upto INR 1.50 Crores… Read More »

GST TRAN-1 Revision – Recent Updates

The revision of Form GST TRAN-1 can only be done once.      But if you are filing TRAN-1 for the first time on or after 9th November 2017 will not be able to revise it immediately.     If revision of Form GST TRAN-1 is resulting in downward credit, the Taxpayer should be able to… Read More »

Category: GST

GSTR-4 online upload functionality available on GST Portal

Form GSTR-4 online upload functionality is now available to taxpayers for uploading of their quarterly returns. Earlier, Excel based GSTR-4 Offline tool was provided to taxpayers, to prepare their Form GSTR-4 offline.

Category: GST

Due date for generation of FORM GSTR-2A and FORM GSTR-1A

CBEC has issued clarification on due dates for Generation of FORM GSTR-1A and Form GSTR-2A , in accordance with the extended due dates for filing of Form GSTR-1/ GSTR-2 as below: Please refer to Notification No. 30/2017-Central Tax dated 11th September 2017, and Notification 54/2017-Central Tax, dated 30th October, 2017 whereby the dates for filing FORM GSTR-1, FORM GSTR-2 and… Read More »

Category: GST

Utility for claiming refund by exporters

Exporters can claim refund of IGST paid by using utility Table 6A in GSTR-1, Goods and Service Tax Network (GSTN) said on Sunday. Table 6A of Form GSTR-1 allows taxpayers to file export related data for processing of the tax refund. Refund can be claimed by filing the details of shipping bill. Under GST mechanism,… Read More »

Category: GST

INR 2 Lakh Crore locked with government after GST

It was reported that approx. INR 2 Lakh Crores is stuck with the government due to lack of clarity on how to get refund of excess payment of tax by the traders. Experts say this may result into bigger problems if not sorted out. “Close to Rs 2 lakh crore has been blocked since GST… Read More »

Category: GST

System error occurred in filing GST Registration Amendment applications – CBEC Advisory

CBEC has issued advisory on the system error occured while filing GST registration amendment applications. 1. It has been noticed that while filing the Registration Amendment applications (Non- Core or Core), many Taxpayers are receiving the Error message, namely : ‘System Error Occurred’ 1.2. In this regard, it is to inform that the following precautions… Read More »

Category: GST

Functionality of Table 6A of Form GSTR-1 is now available on GST Portal

The functionality of Table 6A of Form GSTR-1 is now available on GST Portal. Taxpayers can file their export data from the month of August 2017 onwards. This will enable the exporters to get IGST refund from Customs. This data once filed, need not be filed by taxpayer again at the time of filing returns,… Read More »

Category: GST

Look for difference between amounts & count in GSTR-2A & GSTR-2

The invoices uploaded from your suppliers might have the difference between amounts and count between GSTR-2A and GSTR-2. The same need to be checked. Invoices under GSTR-2 will start showing up on summary screen as well as inside GSTR-2 only after an action is taken on the invoice like accept, modify, or new invoices are added… Read More »

Category: GST