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

March 12, 2021 admin Comments 0 Comment

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 colour and remaining pending stages being greyed out.

2. Issuance of Form GSTR 3A, for Non Filing of GSTR-3B Returns to taxpayers, under QRMP scheme:
Functionality has been deployed on GST Portal for issuance of system generated notice in Form GSTR-3A, to the taxpayers who have opted for/ assigned to QRMP Scheme and fail to file their GSTR-3B return on quarterly frequency, by due date.

3. Discontinuation of filing of Form GSTR-9A, for FY 2019-20 & onwards:
The facility of filing Annual Returns in Form GSTR-9A by taxpayers in Composition Scheme, as per proviso to sub-section (1) Section 44 has been done away with on GST Portal, from FY 2019-20 & onwards. Thus, now taxpayers will not be able to view/save/file Form GSTR-9A for FY 2019-20 & onwards. Filing of the said return for the FY 2017-18 and 2018-19 is available (& is optional).

4. Facility to file NIL Form GST ITC-03 by the taxpayers opting in to Composition scheme:
Existing taxpayers while opting for composition scheme are required to file details of stock in Form GST ITC-03 and pay tax on the stock (on which ITC has been claimed by them). Now a facility has been provided on the GST Portal to such taxpayers to file NIL Form GST ITC-03.

5. Validation of date on entry of invoices of cancelled suppliers and date of registration, in Form GSTR-6 and showing of tax period and filing status in Excel download of Form GSTR 6A:
An ISD distributes the credit availed on inward supplies, received from the suppliers, to its units through monthly return, filed in Form GSTR-6. ISDs would now not be able to enter invoices/debit notes/credit notes of their suppliers having cancelled status in their Form GSTR 6, having date after their effective date of cancellation, or having date before the date of grant of registration to suppliers or that of ISD (itself).

6. Implementation of 35% Challan in QRMP Scheme in Form GST PMT-06 for making payment:
From 1st January, 2021, the two options namely Fixed Sum Method and Self-Assessment Method are made 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.
Fixed Sum Method: Portal can generate a pre-filled challan in Form GST PMT-06, based on past record.
Self-Assessment Method: The tax due is to be paid on actual supplies, after deducting the Input Tax Credit available.

7. Editing the Auto- population of some data in Form GSTR-3B:
Now, in case a taxpayer decreases the liability or increases the ITC availment by editing these values, beyond the designated threshold of 5%, the system will show a warning message to the taxpayer.
Similarly, if a taxpayer decreases the reverse charge liability in Table 3.1(d) and ITC reversal in Table 4B in Form GSTR-3B, auto-populated from system generated Form GSTR-2B, the system will show a warning message.

8. Pre login Tracking of Refund Application Status:
Now taxpayers can navigate to Services > Track Application Status > Select the Refund option > Enter ARN to track their refund application, without logging into the GST Portal. This will display various stages of Refund application filed by them, with the current status of their application in green colour and remaining pending stages being greyed out.

9.Withdrawal of Refund Application by Taxpayer, in Form GST RFD-01W:
Earlier the taxpayers had no option to withdraw their refund applications, if they have committed any mistakes, while filing the application. A functionality has now been implemented for the taxpayer, to withdraw an already filed refund application, by filing Form GST RFD-01W (until the Refund Processing Officer issues an acknowledgement in Form GST RFD-02 or a deficiency memo in Form GST RFD-03).

10. Enabling taxpayers/ applicants with (only) TRN, to manually enter bank account details in Refund Application in Form GST RFD-01:
So far the taxpayers/applicants having (only) TRN were unable to file an application for refund, as they were not allowed to enter or add bank account details in the Registration Module. To enable filing of Refund Application by such taxpayers/applicants, a facility has been made available to them for manual entry of bank account details in Form GST RFD-01, while filing an application for refund.

11. Selection of two more reasons for voluntary payment in Form GST DRC-03:
The two reasons have been included for selection in drop down list for Form GST DRC-03, for the taxpayers to make voluntary payment namely Liability Mismatch – GSTR-1 to GSTR-3B and ITC Mismatch – GSTR-2A/2B to GSTR-3B.

12. Auto-generation of Form GST DRC-01 and its availability to the taxpayer on the GST Portal:
As per Rule 142(1) of the CGST/SGST Rules, summary in Form GST DRC-01, is required to be served to the taxpayer along with the notice issued by the tax official under Section 73, 74, 129, 130 etc. The auto-generation of Form GST DRC-01 (upon issuance of SCN/MOV-07/MOV-10 in Enforcement Module) has been enabled on the GST Portal and the same is now made available to the taxpayer under Additional Notices & Orders sub menu

13. Saving Advance Ruling/Advance Ruling Appeal applications by applicants:
Applicants can now save Advance Ruling/Advance Ruling Appeal applications upto 15 days, before editing and filing it on GST Portal. These applications in the saved stage will be automatically purged after 15 days.

14. Additional information about taxpayers under Search Taxpayer functionality:
In the “Search Taxpayer” functionality (Search Taxpayer> Search by GSTIN/UIN) available on the GST Portal, Post Login, users can now view certain additional details like Aadhar Authentication, e-KYC Verification, Compliance Rating, GSTIN/UIN status update, Annual Aggregate Turnover, Gross Taxable Income etc of the taxpayer.

15. Furnishing of details in IFF and Payment of tax (Form GST PMT- 06) by taxpayers in QRMP scheme:
The Webinars has been conducted in various languages namely English, Hindi, Marathi, Telugu and Tamil.

Source: TaxScan.

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

December 3, 2020 admin Comments 0 Comment

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 dues monthly through simple challan.

This form for opting in the scheme shall be made available from the 5th of December 2020. Currently, the message is shown on GSTN Portal.

Source: TaxScan.

GST portal scaled up to handle 3L taxpayers concurrently

November 9, 2020 admin Comments 0 Comment

Goods and Services Tax Network (GSTN) portal now handles almost double the taxpayer traffic for return filing immediately after lockdown, an official statement said on Sunday.

“It has been made possible as the GST infra has been upgraded to handle up to 3 lakh concurrent logged-in users at a time,” it said.

GSTN augmented the capacity of the gateway from 1.5 lakh to 3 lakh concurrent logged in taxpayers in June 2020 as a proactive measure to handle the expected sharp surge in the indirect tax-related activities on the portal after easing of lockdown. Further, the upgrade has enabled GSTN to handle and scale up to 5 lakh concurrently logged-in taxpayers, if necessary.

With the upgrade, the GST ecosystem is future-ready to offer a seamless experience to the taxpayers with its augmented capacity even beyond the current load limits, as per the statement.

Source:Times-of-India.

GST e-invoicing for all B2B transactions from April 1, 2021: Finance Secretary

October 12, 2020 admin Comments 0 Comment

The government will roll out the electronic invoicing (e-invoicing) system for all business-to-business (B2B) transactions under the Goods and Services Tax (GST) regime from April 1 next year that will replace physical invoices, finance secretary Ajay Bhushan Pandey said.

The government introduced the e-invoicing system on October 1, 2020 for businesses with an annual turnover over Rs 500 crore. “By January 1, 2021, it will be available to taxpayers with an annual turnover over Rs 100 crore,” he said.

“It is a great step forward as e-invoicing has many advantages both for the business and the tax administration. Buyers and sellers will be able to have realtime information of the invoices. It replaces the physical invoice and will soon replace the existing e-way bill system and taxpayers will not have to generate separate e-way bills,” he said.

Pandey said the e-invoicing system may eventually dispense with the present system of filing GST returns for smaller businesses and micro, small and medium enterprises (MSMEs) because e-invoice will pre-populate returns for such businesses and they will be required to simply pay the taxes.

“The returns will be automatically generated for all supplies for which e-invoices have been issued,” he said after reviewing the progress of the e-invoicing system that was introduced on October 1 for businesses with an annual turnover of over Rs 500 crore. The meeting was attended by senior officials from the Central Board of Indirect Taxes and Customs (CBIC), the National Informatics Centre (NIC) and the GST Network (GSTN).

After review of the progress in the last seven days, Pandey said the implementation of e-invoicing is getting progressively robust. “This is the beginning of a new chapter of the ease of doing business and paying taxes in India. From the first to the seventh day Invoice Reference Number (IRN) generation has grown by 163% and have touched the count of 13.69 lakh IRNs on the seventh day, i.e., on October 7,” he said.

“As e-invoicing is an exceedingly progressive system, we expect that it will also have other major advantages of improving the payment cycle for the industry and give boost to invoice based lending to MSMEs,” he said.
India has been able to build and develop this massive e-invoice system in GST in just seven to eight months, he said. According to a note prepared by GSTN, between October 1 and October 7 more than 69.5 lakh IRNs were generated by over 71 thousand users.

“On the very first day of e-invoicing system, more than 8.40 lakh IRNs were generated by 8,453 users while on October 7 about 13.69 lakh IRNs were generated by 14,100 users, it said.

To be sure, the introduction of e-invoicing system was initially scheduled from April 1, 2020, but it was postponed to October 1 because of the suddent outbreak of Covid-19 pandemic. In order to make the system gradually adjust to the e- invoicing system, it was prescribed that the taxpayers having aggregate turnover of Rs. 500 crore and above only would be required to issue e-invoice from October 1.

Source: Hindustan-Times.

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

September 28, 2020 admin Comments 0 Comment

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.
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Kumar also said the GSTN, the IT backbone of the indirect tax system, will, from November, auto-populate the GSTR-3B returns of taxpayers. “The aim is, from November month returns filed in December, GSTR-3B will be auto-populated. First, we are doing this for monthly tax filers. The entire tax-paying community will be covered after that,” he explained.

Over one crore assesses are eligible to file GSTR 3B returns every month, which shows how much tax has been paid actually after deducting the Input Tax Credit (ITC). GSTR-1 is a monthly return (it can also be filed quarterly) on the outward supply statement and shows the quantum of liability. It is alleged that some assesses over-report ITC, which in turn results in lower tax payment.

GSTN recently started to generate GSTR-3B based on the GSTR-1 filed, Kumar said, adding that for two months PDF documents would be given to taxpayers so that people can check and inform the authorities of any error in the process or computation of tax or the ITC.

Source:thehindubusinessline

Pre-filled GST return form soon: GSTN CEO Prakash Kumar

September 21, 2020 admin Comments 0 Comment

GST-registered businesses will soon get pre-filled Return form, GSTR-3B, GST Network Chief Executive Officer Prakash Kumar said on Monday.

“We are moving towards providing taxpayers with a pre-filled GSTR-3B form so that they can pay their taxes at ease. To start with, an option to edit the form would be provided to allow businesses to make past adjustments etc,” Kumar told PTI.

GSTN, which handles the IT backbone for Goods and Services Tax (GST) has already started providing tax liability data based on sales return GSTR-1 of the taxpayer to be used in his tax payment form GSTR-3B in pdf form.

It is also providing taxpayers auto-generated invoice-wise input tax credit (ITC) statements based on information furnished by the suppliers of the taxpayer.

Kumar said this essentially means that the taxpayer can know how much ITC is available for the month.

Currently, the liability and ITC are being provided as separate pdf documents.
After two months, these two sets of data will automatically start flowing in GSTR-3B return, Kumar added.

This is the first step towards connecting GSTR-1 which has business-to-business (B2B) invoice data along with data on exports, business-to-consumer (B2C) supplies etc and GSTR-3B, he said.

The move is expected to ease taxpayer hassle of copy-pasting various numbers from sales return form GSTR-1 to GSTR-3B.

“These functionalities have been done for monthly filers of GSTR-1 and functionality for quarterly filers will be introduced in due course,” Kumar said.

GSTN has over 1.26 crore registered taxpayers, out of which 1.07 crore are required to file GSTR-1 and GSTR-3B. Of the, 1.07 crore taxpayers, around 58 lakh file GSTR-1 on monthly basis, whereas remaining file at quarterly frequency.

However, all 1.07 crore taxpayers has to file a monthly tax return, GSTR-3B.

Source: Money-Control.

GSTN enables Reconciliation Tool for matching GSTR-2B with Purchase Register

September 17, 2020 admin Comments 0 Comment

The Goods and Services Tax Network ( GSTN ) has enabled the Reconciliation Tool for matching GSTR-2B (Auto-Drafted ITC Statement) with Purchase Register.

The GSTN has issued detailed advisory on using Matching Offline Tool
Matching Offline Tool v1.0

The Matching Offline Tool can be used to:
• View GSTR-2B (Auto-drafted Input tax credit (ITC) statement)
• Match GSTR-2B with Purchase register

To install the tool, please download, extract the zip file and run the Download

Your downloaded (Matching_Offline_Tool) zip file contains:
• GSTR2B_Matching_Tool_v1.0.exe (Application)
• Purchase Register Excel Template
• Readme
• User Manual
• Change History

Important!
• Before you extract and run the downloaded file, ensure that the file is not corrupted. How do I know that my file is not corrupt? Click here to know more.
• Go through the Readme document before you begin installation.
• Double-click on GSTR2B_Matching_Tool_v1.0.exe to install the offline tool.

What’s new v1.0(Released on 13/09/2020)
• Downloading the auto-drafted input tax credit (ITC) statement – GSTR-2B from the dashboard at GST Portal and opening the same in the Offline Tool for viewing.
• Importing the purchase register in the Offline Tool for matching with GSTR-2B downloaded from the GST Portal. Taxpayers will have to use Excel/csv template provided with the tool to prepare their purchase register and import the same in this Offline Tool.
• Comparing the auto-drafted ITC statement – GSTR-2B, downloaded from the portal and the purchase register using the ‘Matching’ tab provided in the tool to identify documents which are fully matched, partially matched or not matched.
System Requirement

To use the tool efficiently, ensure that you have the following installed on your system:

• Operating system Windows 7 or above. The tool does not work on Linux and Mac.
• Browser: You need one of these browsers installed on your system:
• Internet Explorer 10+
• Google Chrome 7+
• Firefox 45+
• Microsoft Excel 2007 & above
• Alternatively, for any below versions, the tool will open in a default browser.
• Before installation of Offline tool, ensure that you have 200 MB of free disk space in your local machine

Source: TaxScan.

Good news for Taxpayers: Delinking of Credit Note/Debit Note with Original Invoice has been implemented on the GSTN portal

September 16, 2020 admin Comments 0 Comment

The De-linking of original invoices and credit and debit notes are incorporated on the GSTN portal. The same was amended vide CGST amendment Act, 2018 with the effect of February 1, 2019. However, the same is incorporated on September 14, 2020, on the portal.

After more than one and a half years of the amendment in Section 34 of the Central Goods and Services Act, 2017, Goods and Service Tax Network (GSTN) has finally enabled the facility to report consolidated credit or debit notes under GST in GSTR-1.

Section 34 of the Central Goods and Services Act, 2017, which deals with Credit/Debit notes under GST law, wherein a registered person has to issue two or more different credit or debit notes in respect of the multiple tax invoices raised in a financial year under GST.

For instance, Mr. X has issued five tax invoices in the month of September 2020, there are sale returns against these invoices for which he has to issue a credit note under GST.

The issue is whether Mr. X has to issue five different credit notes or he can issue a consolidated credit note for these 5 tax invoices.
Before the amendment under Section 34 Mr. X has to issue 5 credit notes, however, after the amendment, he may issue one consolidated credit note for 5 tax invoices in that particular financial year.

Before the coming up of this facility on the GSTN portal, a registered person needs to furnish the “Original date and number of the tax invoice” in order to report credit or debit note issued under GST in his GSTR-1.

The taxpayers especially selling through online platforms such as Amazon, Flipkart, Paytm, etc. claim this task to issue different credit or debit notes for different tax invoices under GST law a cumbersome compliance as they need to spend more time, money, and effort to maintain the records of credit or debit notes with meagre amounts.

After the facility to issue a consolidated/single credit note, against one or more tax invoices raised in a financial year, implemented on the GST portal, one can easily interpret that the GST portal does not ask for “original date and number of the tax invoice” as credit or debit note is delinked from original invoice on the common portal which in turn helps the taxpayers to report single credit or debit note in respect of the multiple tax invoices raised in one financial year in their GSTR-1.

However, despite the above amendment in the CGST Act, 2017, the GSTN portal did not have a functionality to link multiple invoices with a single credit note/debit note.

In this regard, the much-awaited de-linking of original invoices and credit/debit notes has now been allowed on the GSTN portal.

Source: TaxScan.

Government rolls out facility of filing of Nil GST return through SMS

June 8, 2020 admin Comments 0 Comment

In a bid to make compliance easier for taxpayers, the Government on Monday allowed filing of Nil GST monthly return in FORM GSTR-3B through SMS.

This would substantially improve ease of GST compliance for over 22 lakh registered taxpayers who had to otherwise log into their account on the common portal and then file their returns every month.

Now, these taxpayers with NIL liability need not log on to the GST Portal and may file their NIL returns through a SMS. According to a statement, the functionality of filing Nil FORM GSTR-3B through SMS has been made available on the GSTN portal with immediate effect.

The status of the returns so filed can be tracked on the GST Portal by logging in to GSTIN account and navigating to Services>Returns>Track Return Status. The procedure to file Nil returns by SMS is as follows: –

“This is a good move by the Government to ease the compliance burden for taxpayers with nil liability. India ranks a lowly 115 out of around 190 countries in ease of paying taxes, and such initiatives are definitely needed to make the compliances easy, less time consuming and in line with global best practices,” said Harpreet Singh, Partner, KPMG India.

Similarly, MS Mani, Partner, Deloitte India says, “Filing Nil returns through an SMS would significantly help smaller businesses as they can now focus on businesses revival.”

Source: Economic-Times.

Recovery of interest for late GST payment needs to be adjudicated in case of dispute, says HC

April 24, 2020 admin Comments 0 Comment

Goods & Services Tax (GST) authority cannot raise demand or initiate recovery of interest on late payment of tax without adjudication in case of a dispute, a High Court has ruled.

Amid lockdown, a division Bench of Jharkhand High Court, using video conference, delivered judgment to interpret certain Sections on the GST Act. These Sections deal with interest on delayed payment of tax (Section 50), determination of tax not paid or short-paid or erroneously refunded or input tax credit wrongly availed of or utilised for any reason other than fraud or any wilful misstatement or suppression of facts (Section 73 & 74) and recovery of tax (Section 79).

“Liability of interest is automatic, but the same is required to be adjudicated in the event an assessee disputes the computation or very leviability of interest, by initiation of adjudication proceedings under Section 73 or 74 of the CGST Act. In our opinion, till such adjudication is completed by the Proper Officer, the amount of interest cannot be termed as an amount payable under the Act or the Rules,” the Bench said. Further, it ordered that without initiation of any adjudication proceedings, no recovery proceeding under Section 79 of the Act can be initiated for recovery of the interest amount.

Every GST assessee is required to file the return GSTR 3B (actual tax paid) after depositing the tax. Due date for completion of the process is 20 days from the end of month for businesses with turnover of more than ₹5 crore; for those with less than ₹5-crore turnover, the due date in some States/UTs is 22nd day and, in the remaining States/UTs, it is 24nd day from the end of month. Delay will result in interest being levied.

In the matter under consideration, the Jharkhand-based company Mahadeo Construction was saddled with interest of over ₹19.5 lakh for delayed filing of GSTR-3B returns for February and March 2018. The petitioner submitted that, according to GSTN portal, the due date for filing of the return for February 2017-18 and March 2017-18, was March 31, 2019. The returns for both months were filed within the stipulated date.

Bank account attached

However, as the petitioner submitted, the tax authority sent a demand for payment of interest amounting to over ₹19.5 lakh for filing the delayed GSTR-3B. Later, the bank account of the petitioner was attached for non-payment of interest. The petitioner further submitted that not only the respondent (authorities without initiating adjudication process) straight away demanded interest from the petitioner in a most arbitrary and illegal manner, by adopting extra legal steps, initiating garnishee proceedings under Section 79 of the CGST Act for recovery of interest.

A garnishee proceeding refers to a legal action where the creditor is allowed to collect due amount from the debtor’s bank account or any other means.

Responding to the petitioner’s submission, the respondent (tax authority) said that the present dispute pertains to recovery of interest not on the grounds of delay in filing GSTR-3B return, but for delayed payment of tax. Further, for the tax authority, once there is a delay in payment of tax, the liability to pay interest on the same becomes automatic, for which no separate proceedings are required to be initiated for determining such interest liability.

Source: The-Hindu-Business-Line.

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

March 12, 2021 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

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

December 3, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

GST portal scaled up to handle 3L taxpayers concurrently

November 9, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

GST e-invoicing for all B2B transactions from April 1, 2021: Finance Secretary

October 12, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

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

September 28, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Pre-filled GST return form soon: GSTN CEO Prakash Kumar

September 21, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

GSTN enables Reconciliation Tool for matching GSTR-2B with Purchase Register

September 17, 2020 admin Comments 0 Comment

Good news for Taxpayers: Delinking of Credit Note/Debit Note with Original Invoice has been implemented on the GSTN portal

September 16, 2020 admin Comments 0 Comment

Government rolls out facility of filing of Nil GST return through SMS

June 8, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Recovery of interest for late GST payment needs to be adjudicated in case of dispute, says HC

April 24, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.