Browsed by
Tag: gst news comments

E-Way Bill
Govt blocks GST e-way bill generation; move may impact 300,000 firms

Govt blocks GST e-way bill generation; move may impact 300,000 firms

Comments 0 Comment

Businesses of roughly 300,000 firms paying goods and services tax (GST) were likely impacted on Monday, as the government had blocked e-way bill generation for non-compliant assessees.

These businesses had not filed their monthly GST Return (GSTR)-3B for two consecutive months. The government had notified the rule last month as an enforcement measure amid subdued revenue collection.

The GST system has been grappling with low levels of compliance. Only 65-68 per cent of eligible GST filers file the GSTR-3B within the due date, the GST Network (GSTN) data shows.

“This month, the taxpayer will be alerted with a cautionary message while generating e-way bills, in case GSTR-3B for the past two successive months of the consignor/consignee GST identification number (GSTIN) has not been filed. From next month onwards, such GSTINs will be blocked,” the note had said.

The same has become operational from December 3.

According to the data by the GSTN, the information technology backbone of the two-year-old indirect tax regime, there are 2 million GSTINs that have not filed GSTR-3B for September and October. Of these 2 million GSTINs, 347,000 GSTINs (or 16.7 per cent) had transactions in the e-way bill system for September and October, which are learnt to have been impacted immediately.

“These firms were given enough warning last month that their e-way bill system would be blocked over non-compliance. Businesses not filing returns should not be allowed to move goods,” said a government official.

Firms in Odisha and West Bengal are learnt to have been severely affected with this move. Experts said this has put these businesses in peril.

“Due to slowdown and cash crunch, taxpayers are already struggling to survive. This measure will effectively mean halting business and will have negative consequences for taxpayers and the economy,” said Pritam Mahure, leader at Pune-based accountancy firm Pritam Mahure and Associates.

“Suppose, the supplier of goods has filed GST returns in time, but the person to whom he is selling goods i.e., purchaser of goods has failed to file GST returns, in that case, the supplier who is compliant will not be able to generate e-way bill as his recipient is non-compliant,” said Vishal Raheja, deputy general manager, Taxmann.

The e-way bill facility will get unblocked within three hours of payment of dues and filing returns.

GSTR-11 Guide : Filing GSTR 11 Return for Input Tax Refund by UIN Holders

GSTR-11 Guide : Filing GSTR 11 Return for Input Tax Refund by UIN Holders

Comments 0 Comment

What is Form GSTR-11?

GSTR-11 is a return to be filed by person having UIN (Unique Identification Number). This return reflects details of inward supplies. As per section (67), ‘Inward Supply’ in relation to a person, shall mean acceptance of goods or services or both whether by purchase, acquisition or any other means with or without consideration

Note: UIN stands for Unique Identity Number which is required for claiming refunds of taxes paid by persons for any purpose as described under GST rules. The format for UIN remains uniform across states.

GSTR-11

Who can File Form GSTR-11?

Every person who has been issued UIN and is claiming refund need to file GSTR-11. The following organizations/entities can apply for a UIN:

  • A specialized agency of the United Nations Organization
  • A multilateral financial institution and organization notified under the United Nations (Privileges and Immunities) Act, 1947
  • A consulate or embassy of foreign countries
  • Any other person or class of persons as notified by the commissioner.

Prerequisites:   In-order to file this return:

  • You must be a foreign embassy or a diplomatic body that possesses UIN.
  • This return must be filed only during those months when you purchase goods and/or services for your own consumption. Otherwise, you are free from filing tax returns.

When to file Form GSTR-11?

The GSTR-11 needs to be filed monthly on 28th of the month following the month in  which Inward supply received .

What Details are Included in GSTR-11?

GSTR-11 contains the details pertaining to inward supplies.

Proforma of Form GSTR-11

Here you can see the complete format of the Form GSTR-11.

Headings that Appear under GSTR-11 and their Significance 

Initial headings under this return are auto-populated from the details of the concerned taxable person furnished in monthly/quarterly GSTR forms

# Headings Details to be furnished
1 Unique Identification Number UIN assigned by GST will be auto populated at the time of login to GST portal
2 Name of the person having UIN From GSTN records, the name of the entity will be auto-populated under this head
3 Tax period Period / month or year of tax to which the Return pertains (for which GSTR-11 is being filed); to be selected from drop-down menu
4 Details of supplies (purchases made from consumption or use – other than the purpose of making outward supplies) This filed shall contain GSTIN of supplier and invoice wise details (including Debit and Credit Notes) Taxable value, Rate of Tax and Head wise Tax amounts are also included in this table.

Interest/Penalty on Late Filing or Late Payment of GST

According to the rules and regulations formed by GST council, if a taxpayer fails to file his return on time, then he would be responsible for paying interest at the rate of 18% p.a. on the payable GST tax from the date specified till the date he/she made payment for the same.  If a taxpayer fails to file GST returns on the last day, then interest calculations from the due dates will be calculated based on:
For interest on tax payment per day basis:
Let’s consider tax due by an individual is RS. 10,000
With interest rate of 18% will be:
10000 * 18/100 * 1/365 = Rs. 4.93 per day approx.

As per the deadlines mentioned by the GST Council, if a taxpayer misses the deadlines, then he/she would be liable to pay a penalty of Rs.100 for CGST and Rs.100 for SGST per day, commencing from the due dates till the returns are filed.

How to download GSTR-11 offline tool?

  1. Login to the GST Portal
  2. Then, Go to Downloads Tab -> Offline Tools
  3. Select Gstr-11 tools button;
  4. File be downloaded -> Unzip the file GSTR_1 1_Offline_Utility.zip
  5. Open the GSTR_1 1_Offline_Utility.xls excel sheet
  6. Read the instructions under the heading “Read me”.

Have you Filed your GST Returns Yet?

Our experts at XaTTaX can help you file all your GST returns and help you with GST compliance. Get your GST returns filed now!