Search Results for: GSTN

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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Know the GSTR-1 Table-12 Upcoming changes on GST Portal: GSTN

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The Goods and Service Tax Network (GSTN) has notified the Upcoming changes in GSTR-1 Table-12 on GST Portal. The Upcoming changes in Table-12 format of GSTR-1 Return are changes in the format of GSTR-1 Return and changes in the number of digits of the HSN Code to be reported. From 1st April 2021 onwards, it is mandatory to report a minimum 4 digit or 6 digits of HSN Code in Table-12 of GSTR-1 on the basis of Aggregate Turnover on…

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GSTN now enables the option to download GSTR-2B summary and 2B in detail

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The Goods and Service Tax Network (GSTN) has enabled the option to download GSTR-2B summary and GSTR-2B in detail on the GST Portal. The GSTR-2B is a new static month-wise auto-drafted statement for regular taxpayers introduced on the GST portal. It provides eligible and ineligible Input Tax Credit (ITC) for each month, similar to GSTR-2A but remains constant for a period. It is available to all the regular taxpayers. Every recipient can generate it on the basis of the GSTR-1,…

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GSTN issues Advisory on Annual Return Form GSTR-9

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The Goods and Service Tax Networks (GSTN) issued the Advisory on Annual Return Form GSTR-9. The GSTN advised the taxpayers to ensure that values are reported upto two decimal places in the GSTR-9 offline utility. The error “Error! Invalid Summary payload” after uploading the JSON created from the Offline Utility of GSTR-9 is reported due to reporting values upto three decimal places instead of two decimals. GSTR-9 is an annual return to be filed by all registered taxpayers under GST…

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GST Returns: GSTN reminds due date for filing GSTR-3B for Taxpayers having turnover above Rs.5 cr

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The Goods and Service Tax Network (GSTN) reminded all the taxpayers having turnover above Rs. 5 Crores the due date for filing GSTR-3B is 20 February, 2021. The Taxpayers with an annual turnover of over Rs.5 Crores filed their monthly GSTR-3B for January 2021 on or before 20 February, 2021 failing to attract a late fee and interest. GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer along with GSTR 1 and GSTR 2 return forms….

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GST: GSTN issues Advisory on Payment of Tax by Fixed Sum Method under QRMP Scheme

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The Goods and Services Tax Network ( GSTN ) has issued an advisory on Payment of Tax by Fixed Sum Method under QRMP Scheme. W.e.f. 1st January, 2021, following two options are available to the Taxpayers who are under Quarterly Returns and Monthly Payment of Tax (QRMP) Scheme for tax payment for first 02 months of a quarter: a. Fixed Sum Method: Portal can generate a pre-filled challan in Form GST PMT-06 based on his past record. b. Self-Assessment Method:…

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GSTN issues Advisory on Auto-population of E-Invoice details into GSTR-1

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The Goods and Services Tax Network (GSTN) has issued an advisory on Auto-population of E-Invoice details into GSTR-1. From 1-10-2020, certain notified taxpayers have been issuing invoices after obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). From 1-1-2021, the taxpayers with aggregate turnover above Rs. 100 Cr. had also started reporting invoices to IRP. Details from the reported e-invoices are being auto-populated in respective tables of GSTR-1. Update on the same was last published…

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GSTN enables facility of Communication between supplier and recipient on GST portal

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The Goods and Service Tax Network (GSTN) has enabled the new facility of “Communication between Taxpayers” on the GST portal After the introduction of this facility the supplier and recipient can directly communicate with each other on GST Portal itself. They can also give a reply to communication received on the portal. The GSTN has given this facility taking care of the requirement that the communication forms a significant part of GST as Input Tax Credit (ITC) in GST which…

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GSTN enables option for opting quarterly filing of GST returns under QRMP Scheme

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The Goods and Service Tax Network (GSTN) has enabled the option for opting for quarterly filing of GST returns under the quarterly return with the monthly payment (QRMP) scheme. The GSTN announced that for the small taxpayers with annual aggregate turnover up to 5 Cr. will be made available on the common portal from 1st of January 2021. Once a taxpayer opts-in he may file his FORM GSTR-1 and FORM GSTR-3B returns on a quarterly basis while paying their tax…

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GST e-invoicing to start from Oct 1, as planned: GSTN CEO

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The plan to introduce the e-invoicing regime from October 1 will not be postponed. This was revealed by GST Network (GSTN) CEO Prakash Kumar at Friday’s BusinessLine Knowledge Series webinar on ‘GST: Is it Really Good and Simple?’ While large companies are ready for this change, small and medium enterprises are not. This had raised hope that the new regime would be postponed. Get access to premium Portfolio content for 14 days Kumar also said the GSTN, the IT backbone…

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