Search Results for: GSTIN

GST: Relaxation to assessee whose GSTIN has been cancelled during Mar 15, 2020, to Mar 14, 2021

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The Commercial Tax Department Chennai issued the instructions to all the territorial joint commissioners in respect of the exclusion of the period from March 15, 2020, to March 14, 2021, from the limitation period. The Department has highlighted the Supreme Court’s observation, in view of the Global Pandemic Situation across the Country, took Suo Motu cognizance of the situation arising out of the difficulties faced by the litigants in filing petitions/applications/suits/appeals/all other proceedings within the period of limitation prescribed under…

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GST: NIC issues list of GSTINs on whom E-Invoicing is Mandatory

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The National Informatics Centre (NIC) has issued a list of GSTINs dated January 27, 2021, for whom e-invoicing shall be mandatory. There are 73308 GSTNs who are enlisted by the NIC for whom it is mandatory for the taxpayer to upload the invoice details and register supply transaction on the Government Invoice Registration Portal. ‘E-invoicing’ or ‘electronic invoicing’ is a system where the taxpayer will upload his invoice details and register his supply transaction on the Government Invoice Registration Portal…

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CBIC mandates Registered Taxpayers to quote GSTIN on EXIM Declarations

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The Central Board of Indirect Taxes and Customs (CBIC) in a circular clarified that it is mandatory for registered taxpayers to declare GSTIN on EXIM declarations in a bid to strengthen all-round coverage of GST supplies. Certain cases have been reported where the importer or exporter did not declare their GSTIN in the Bill of Entry /Shipping Bill despite being registered with GSTIN. With the effect from 15.02.2020, the declaration of GSTIN shall also be mandatory in Import/Export documents for the importers and exporters registered as GST taxpayers. Data…

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What is GSTIN (Goods & Services Tax Identification Number)? How to identify it?

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What is GSTIN? Prior, at whatever point you get a few administrations or products, at that point, the dealer used to give you the bill. In that charge, you, for the most part, discover the TIN (Taxpayer Identification Number). This was one of a kind 11 digit number designated to every business element which registers with the business impose division. This TIN enrollment was required for all Manufacturer/Traders/Exporters/Dealer. Presently, after the passage of GST administration, this TIN is currently supplanted with 15…

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Few more days to file your GST Annual Return Form GSTR-4: Know Complete details

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The last date of Annual Return Form GSTR-4 is April 30, 2021, so file your annual return without a late fee. The GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by the 30th of April, following a financial year. Salient Features…

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Know 12 New Functionalities made available for Taxpayers on GST Portal

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The Goods and Service Tax Networks (GSTN) has made available new functionalities pertaining to registration, returns, audit, front office, and Webinars Conducted for Taxpayers on GST Portal. 1. Assignment of new applications of registration, in certain cases, with same PAN and in same State/ UT New registration applications of the applicants, whose previous application for registration were either rejected by Tax Officer or whose GSTIN was cancelled (either suo-moto or if surrendered by the taxpayer), will now be assigned to…

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Know 15 New Functionalities made available for Taxpayers on GST Portal from February 2021: GSTN

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The Goods and Service Tax Network (GSTN) has enabled the new functionality for Taxpayers on GST Portal from February 2021. 1. Post TRN Login, Tracking of Registration Application Status: The Search ARN Functionality for Registration, post TRN Login (i.e. after TRN is generated by taxpayer/ applicant but has not completed the filing of registration application), has been enhanced for the taxpayers. They will now be displayed at various stages of Registration, with the current status of their application in green…

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GST e-invoicing mandatory for turnover of Rs 50 cr and above from April 1

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E-invoicing under the goods and services tax (GST) regime will become mandatory for entities with a turnover of Rs 50 crore and more from April 1 for business to business transactions, the government said in a notification on Monday. This will be the third phase of e-invoicing roll out, which was rolled out for entities with Rs 500 crore and more turnover from October 1 last year and later extended to entities with Rs 100 crore and above from January…

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CBIC clarifies Applicability of Dynamic QR Code on B2C Invoices

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The Central Board of Indirect Taxes and Customs (CBIC) notified the clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March 2020. The Notification No. 14/2020-Central Tax, dated 21st March 2020 had been issued which requires Dynamic QR Code on B2C invoice issued by taxpayers having aggregate turnover more than 500 crore rupees, w.e.f. December 1, 2020. Further, vide Notification No. 89/2020- Central Tax, dated 29th…

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GST: CBIC extends Sanction for pending IGST Refund Claims on GSTR-1 and GSTR-3B mismatch error

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The Central Board of Indirect Taxes and Customs (CBIC) notified the extension of Sanction for pending IGST refund claims where the records have not been transmitted to ICEGATE due to GSTR-1 and GSTR-3B mismatch error. The Board has received several representations in respect of IGST refunds which are pending due to mis-match of data between GSTR-1 and GSTR-3B. The resolution to the problem was provided by the Board, as an interim measure, vide Circular No. 12/2018-Cus dated May 29, 2018…

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