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e-way bill
GST officers to soon have real-time data on vehicles moving without e-way

GST officers to soon have real-time data on vehicles moving without e-way

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The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills, to help intercept stuck trucks at toll plazas and check GST evasion.

The tax officers would also be provided analysis reports on identifying e-way bill EWB with no movement of goods as it would help officials identifying cases of circular trading. It would also provide reports on recycling of e-way bills for tax evasion prone commodities to help officers in identifying tax evaders.

Under the Goods and Services Tax (GST) regime, e-way bills have been made mandatory for inter-state transportation of goods valued over Rs 50,000 from April 2018. However, gold is exempted.

In the electronic way (e-way) bill system, businesses and transporters have to produce before a GST inspector the e-way bill, if asked.

The government is now working on a ‘Real-time and Analysis Reports on RFID’ for GST officers to help them nab tax evaders who are misusing the e-way bill system.

In a report on ‘E-way Bill – A journey of three years’, the government said 180 crore e-way bills have been generated in three years till March 2021. Of this, only 7 crore bills were verified by tax officers.

In the 2020-21 fiscal, ended March, 2021, 61.68 crore e-way bills were generated, of which 2.27 crore was picked up for verification.

In 2019-20 fiscal, ended March 2020, 62.88 crore e-way bills were generated, of which 3.01 crore were picked up for verification by tax officers.

The top five states, which generated maximum number of e-way bill for inter-state movement of goods were generated are Gujarat, Maharashtra, Haryana, Tamil Nadu and Karnataka.

The top five sectors where maximum e-way bills were generated in the past three years are textiles, electrical machinery, machinery and mechanical appliances, iron and steel, and automobiles.

With effect from Janaury 1, 2021, the government has integrated RFID/FasTag with the e-way bill system and a transporter is required to have a RFID tag in his vehicle and details of the eway bill generated for goods being carried by the vehicle is uploaded into the RFID.

When the vehicle passes the RFID Tag reader on the highway, the details fed into the device gets uploaded on the government portal. The information is later used by the revenue officials to validate the supplies made by a GST-registered person.

To improve tax compliance, the government has also started blocking of EWB Bill generation if a GST registered taxpayer has not filed GSTR- 3B return for the last two successive months.

Also, the government has blocked the generation of multiple EWBs on one invoice. If the EWB is once generated using an invoice number or document number, then none of the other parties can generate another EWB using the same invoice number.

Besides, the e-way bills system has enabled auto calculation of distance based on PIN codes. The system will auto calculate the distance between the source and destination, based on PIN codes.

For the future, the government will also provide a real-time report on vehicle movement for selected e-way bill to helps officers in knowing the trail of movement by the vehicle.

Also, real-time report on vehicles moving without e-Way bills for a selected toll plaza would be made available to officers to help them intercept only those vehicles which are not having e-waybills

Also analysis reports on identifying EWB with no movement of goods would be given to assist officers in identifying cases of bill trading and circular trading. Analysis reports on recycling of EWB for tax evasion prone commodities would help in identifying tax evading taxpayers.

Associates Senior Partner Rajat Mohan said, “With enhancements in GSTN & NIC systems, the efficacy of point-to-point tracking is getting water-tight. At this pace, taxpayers will soon witness real-time monitoring of goods.

Transportation sector may have real-time tracking technologies in place in the next 3- 5 years, whereby tax leakage will practically become impossible.”

Tax Partner Abhishek Jain said the three-year report on e-way bill highlights the future features to be introduced in the NIC portal which will further help authorities and businesses in easy tracking of move of goods.

Source: Business-Standard.

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

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

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 read with Circular No. 25/2019-Cus dated August 27, 2019 in respect of Shipping Bills filed upto March 31, 2019.

The CBIC said that the IGST refunds relatable to the Shipping Bills filed after 31.03.2019 having mismatch error between GSTR-1 and GSTR-3B could not be processed.

It was noted that a substantial number of IGST refunds are stuck due to above error as functionality to amend GSTR-3B return is not available so far, there is a need to extend the facility as provided vide above Circular No. 12/2018-Cus dated May 29, 2018 and 25/20199-Cus dated August 27, 2019 in respect of the Shipping Bills filed after March 31, 2019 as well.

The CBIC has decided that the solution provided in the Circular 12/2018-Customs read with Circular No. 25/2019-Customs would be applicable mutatis mutandis for the Shipping Bills filed during the financial year 2019-20 and 2020-21 i.e. in respect of all Shipping Bills filed/ to be filed upto March 31, 2021.

The CBIC stated that the corresponding CA certificate evidencing that there is no discrepancy between the IGST amount refunded on exports in terms of this Circular and the actual IGST amount paid on exports of goods for the period April 2019 to March 2020 and April 2020 to March 2021 shall be furnished by 31st March, 2021 and 30th October 2021, respectively.

“The concerned Customs Zones shall provide the list of GSTINs, who have availed benefit under Para 3A & 3B of said circular and yet have not submitted the CA certificate to the Board by the 15th April 2021 for the IGST refunds relatable to financial year 2019-20 and by 15th November, 2021 for financial year 2020-21,” the CBIC said.

Source: Taxscan.

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GST collection
GST collections for Jan 2021 touch all-time high of Rs 1.2 lakh crore

GST collections for Jan 2021 touch all-time high of Rs 1.2 lakh crore

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Goods and service tax (GST) collections for January 2021 touched an all-time high of Rs 1.19 lakh crore since introduction of GST regime, the finance ministry said Sunday.

“The GST revenues during January 2021 are the highest since the introduction of GST and have almost touched the ₹ 1.2 lakh crore mark, exceeding last month’s record collection of ₹1.15 lakh crore,” the ministry said.

The consistent collections of over Rs 1 lakh crore for the last four months and a steep increasing trend over January were ‘clear indicators of rapid economic recovery’ post pandemic, the ministry added.

It attributed the continued rise in collections to closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income-tax and customs IT systems and effective tax administration.

The average year-on-year growth in GST revenue over the first four months in the second half of the financial year has been 8% as compared to (-) 24% during the first half of the year, the ministry added.

GST collections for January 2021 – touching the Rs 1.2 lakh crore mark – were 8% higher than last year collections of over Rs 1.1 lakh crore. During the month, revenues from import of goods was 16% higher and the revenues from domestic transactions including import of services, was 6% higher in the same period.

The gross GST revenue collected in the month of January 2021 till 6pm on January 31, 2021 stood at Rs 1,19,847 crore of which central GST was Rs 21,923 crore, state GST was Rs 29,014 crore, integrated GST was Rs 60,288 crore, which included Rs 27,424 crore collected on import of goods. Of the total collections, cess was Rs 8,622 crore which included Rs 883 crore collected on imports.

About 90 lakh GSTR-3B returns were filed for the month of December up to January 31, 2021.

The government has settled Rs 24,531 crore to CGST and Rs 19,371 crore to SGST from IGST as regular settlement.

The total revenue earned by Central Government and the State Governments after regular settlement in the month of January is Rs 46,454 crore for CGST and Rs 48,385 crore for the SGST.

Source: Economic-Times

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

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: The Tax due is to be paid on actual supplies after deducting the Input Tax Credit available.

In fixed sum method, the 35% Challan can be generated by selecting the Reason For Challan>Monthly Payment for Quarterly Return> 35% Challan which is in turn calculated as per following situation:

1. 35% of the amount paid as tax from Electronic Cash Ledger in their preceding quarter GSTR 3B return, if it was furnished on a quarterly basis;

or

2. 100% of the amount paid as tax from Electronic Cash Ledger in their GSTR-3B return for the last month of the immediately preceding quarter, if it was furnished on monthly basis.

It is to note that, for the months of Jan and Feb 2021, in Q4 of 2020-21, the auto-populated challan generated under 35% Challan would contain 100% of the tax liability discharged from Electronic Cash Ledger for the month of December 2020 (and not 35%). [Reason: Till December 2020, all taxpayers were filing GSTR-3B return on a monthly basis.]

From April 2021 onwards, the pattern as suggested at Para 2 (a) and (b) would follow.

It is noteworthy, that the taxpayers are not required to deposit any amount for the first 02 months of a quarter, if:

1. Balance in Electronic Cash Ledger / Electronic Credit Ledger is sufficient for tax due for the first/ second month of the quarter; or
2. There is a NIL tax liability

Source: TaxScan.

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GST
CBIC reminds due dates for filing monthly GSTR-5 Return, GSTR-3B and GSTR-5A

CBIC reminds due dates for filing monthly GSTR-5 Return, GSTR-3B and GSTR-5A

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The Central Board of Indirect Taxes and Customs (CBIC) notified January 20, 2021, as a due date for filing monthly GSTR-5 Return, GSTR-3B, and GSTR-5A.

The Ministry of Finance announced for the non-resident GST payers that the due date for filing monthly GSTR-5 Return for the month of December 2020 is January 20, 2021, failing which will attract a late fee and interest.

The Government announced for OIDAR service suppliers that the due date for filing monthly GSTR-5A return for the month of December 2020 is January 20, 2021, failing which will attract a late fee and interest.

Taxpayers with an annual turnover of over Rs.5 Crores during Financial Year 2019-20 to file their monthly GSTR-3B for December 2020 on or before 20 January 2021 failing to attract a late fee and interest.

Source: TaxScan.

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GST collection
GST collection in December at all-time high with over Rs 1.15 lakh crore revenue

GST collection in December at all-time high with over Rs 1.15 lakh crore revenue

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The Goods and Services Tax (GST) collection in the month of December as the month saw the collection of over Rs 1.15 lakh crore, the finance ministry said on Friday.

December 2020 saw a record high of over Rs 1.15 lakh crore in the GST collection revenue. In fact, the revenues for the month of December 2020 are 12 per cent higher than the GST revenues in the same month in 2019. In November 2020, the GST collection had crossed Rs 1 lakh crore mark.

The highest jump in the GST collection was witnessed in Dadra and Nagar Haveli, with a growth of 68 per cent year on year, the collection during the month of December 2019 was Rs 154 crore and in 2020, it stood at Rs 259 crore.

Tripura saw the second-highest jump at 25 per cent year on year basis. The Central GST stands at Rs 21,365 crore and the state GST is at Rs 27,804 crore.

For the month of December, the integrated GST stood at Rs 57,426 crore (including Rs 27,050 crore collected on import of goods) and cess at Rs 8,579 crore (including Rs 971 crore collected on import of goods).

The total number of GSTR-3B returns filed for the month of November up till December 31, 2020, is 87 lakh.

The government has settled Rs 23,276 crore to CGST and Rs 17,681 crore to SGST from IGST as a regular settlement. The total revenue earned by the central government and the state governments after regular settlement in the month of December 2020 is Rs 44,641 crore for CGST and Rs 45,485 crore for SGST.

The GST revenues during December 2020 have crossed Rs 1.15 lakh crore for the first time. The highest GST collection till now was Rs 1,13,866 crore in the month of April 2019. The December 2020 revenues are significantly higher than last month’s revenues of Rs 1,04.963 crore.

This is the highest growth in monthly revenues in the past 21 months. This has been due to the combined effects of the rapid economic recovery and the nationwide drive against the GST evaders and fake bills along with many systemic changes introduced recently, which have led to improved compliance.

Source: India-Today.

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Simplified GST returns
Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash

Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash

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Businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST liability in cash, the Finance Ministry said as it moved to curb evasion by fake invoicing.

The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit (ITC) for discharging GST liability to 99 per cent.

“… The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99 per cent of tax liability, in cases where the value of taxable supply … in a month exceeds Rs 50 lakh,” the CBIC said.

While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included.

However, this restriction will not apply where the managing director or any partner have paid more than Rs 1 lakh as income tax or the registered person has received a refund amount of more than Rs 1 lakh in the preceding financial year on account of unutilised input tax credit.

Tax Partner Abhishek Jain said the government has put restrictions on seamless input credit utilisation with introduction of Rule 89B, which blocks utilisation of ITC beyond 99 per cent of the output liability, for businesses having taxable turnover of more than Rs 50 lakh per month.

“With the government providing reasonable exceptions to this rule, the idea remains to prevent misutilisation of credit by businesses taking fake credits,” Jain added.

Further, the CBIC has amended GST rules restricting filing of outward supply details in GSTR-1 for business that have not paid tax for the past periods by filing GSTR 3B.

So far, until now, non-filing of GSTR 3B resulted in blockage of e-way bill but will now result in GSTR 1 blockage as well.

Abhishek Jain, Tax Partner, said, “The government has now restricted filing of outward supply details in GSTR 1 return for businesses who have not paid tax for the past periods by filing GSTR 3B.

“The government’s idea here seems to be to curb input tax credit passing by businesses which have otherwise not paid their GST liability,” Jain added.
AMRG & Associates Senior Partner Rajat Mohan said, “These changes indicate that government is grappling with lower tax collections and high tax evasions, burden of which will again be on honest taxpayers”.

The CBIC has also notified authentication of Aadhaar number or physical verification of business premises for the purposes of obtaining GST registration.

“This amendment has likely been introduced to prevent fraudulent registrations,” Jain added.

Also, the validity of electronic way bill provisions has been amended by the CBIC according to which the e-way bill will be valid for 1 day for every 200 km of travel, as against 100 km earlier.

Source: Times-Of-India.

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gstr-9
GST: CBIC enables GSTR-9 of FY 2019-20 on GST Portal

GST: CBIC enables GSTR-9 of FY 2019-20 on GST Portal

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The Central Board of Indirect Taxes ( CBIC ) has enabled the GST Annual Return ( GSTR-9 ) of Financial Year 2019-20 on the GST Portal.

A statement issued by CBIC said that, Facility to file an annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed. Computation of table 8A of the said return for auto-population from returns is in progress which is likely to be completed soon. Please ensure that all applicable returns of the said year have been filed before attempting to file the said return.

GSTR-9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes. Basically, it is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.

The late fees for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST & Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default. This is subject to a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee on IGST yet.

It may be noted that filing of Annual Return (FORM GSTR-9/ GSTR-9A) for 2018-19 is optional for taxpayers who had aggregate turnover below Rs. 2 Crore. The filing of reconciliation Statement in FORM 9C for 2018-19 is also optional for the taxpayers having aggregate turnover upto Rs. 5 Crore.

Source: TaxScan.

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

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 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.

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