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

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 the general law of limitation or any under special law and finally by way of an order dated March 8, 2021, has issued various directions.

In computing any period of Limitation, for any suit, appeal, application or proceedings, the period from March 15, 2020 till March 14, 2021 shall stand excluded. Consequently, the balance period of Limitation remaining as on March 15, 2020, if any shall become available with effect from March 15, 2021.

In cases where limitation would have expired during the period between March 15, 2020 till March 14, 2021, notwithstanding the actual period of limitation remaining, all persons shall have a limitation period of 90 days from 15-03-2021. In the event, the actual balance period of limitation remaining, with effect from 15 03-2021, is greater than 90 days, that longer period shall apply.

Under Article 142 of the Indian Constitution, the above Supreme Court order shall be applicable for the Taxpayers under GST Act, 2017 also and therefore, a proper officer defined under this Act is bound to act in accordance with the directions issued in the above Supreme Court order.

“The affected taxpayers, whose registration have been cancelled for non filing of returns during the period from March 15, 2020 to March 14, 2021, when approached the proper officer for Revocation of Cancellation of Registration after the prescribed period of 30 days, the said application was rejected by the proper officer on the ground that the limitation period prescribed by the Act had already expired,” the department said.

Hence, all the taxpayers whose applications have been rejected by the proper officer for the above said reasons approached the DC, GST Appeals and obtained order of Revocation of cancellation.

The Proper officer, being a quasi-judicial authority and Deputy Commissioner, GST Appeals, Joint Commissioner, GST Appeals being judicial authorities are also bound by the order of the Supreme Court and hence, for the purpose of revoking the cancellation of Registration issued under GST Act, 2017, various instructions are issued.

Source: TaxScan.

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GST
Know 12 New Functionalities made available for Taxpayers on GST Portal

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 the respective authority of the State or Centre (who have earlier rejected the same), whenever these applicants/ taxpayers apply for registration under the same PAN and within the same State/ UT.
• Aadhaar Authentication enabled for Persons/ applicants applying for GST registration through MCA portal in SPICe -AGILE Form
The persons/ applicants applying for new registration in GST, through MCA portal in SPICe -AGILE Form, can now opt for Aadhaar Authentication (while applying for registration).
• Disabling entering Aadhaar number by Taxpayers/Applicants in registration application
The field for entering Aadhaar number has been disabled for Taxpayers in two scenarios.
Firstly, while adding Authorised Signatory/Authorised Representative through Non-Core amendment of registration.
Secondly, while adding Promoter/ Partner through Core amendment of registration.
The Applicants/ taxpayers adding details of Authorised Representatives in the New Registration application.
• Selection of Core Business Activity by existing Taxpayers on the GST Portal
The existing taxpayers have been provided with a functionality on the GST portal to select their core business activity. They can select one of the categories as their core business activity, based on their turnover namely Manufacturer, Wholesaler/Distributors/ Retailers, and Service Providers and others
• Reset button enabled on GST Portal for Form GSTR–1/ IFF
Normal taxpayers, irrespective of their filing profile (of quarterly or monthly), have now been provided with a RESET button on the GST Portal, in Form GSTR-1/IFF. This will enable them to delete the entire saved data, for the specific return period, but not yet submitted or filed their Form GSTR-1 or Invoice Furnishing Facility (IFF).
• Reporting and paying interest & other amounts, in Form GSTR-5A by OIDAR registrants
A person registered as OIDAR can now declare interest and any other liabilities in Table 6 i.e. Interest or any other amount of their Form GSTR 5A and discharge it through Electronic Cash Ledger.
• Download of Table 5 data, after filing, enabled for Form GST ITC-04
The registered manufacturers who are required to file quarterly Form GST ITC-04 (to furnish details of inputs or capital goods, sent to a job worker without payment of tax), can now download the data of Table 5 of Form GST ITC-04 (on the GST Portal), after filing the Form, when there is change in the state code, due to merger or creation of a State/ UT. This is to download data, when there is change in State/ UT code, before the goods are received back.
• Filing of refund application in Form GST RFD-01, by exporter of services, in cases of Foreign exchange fluctuations
The system earlier validated the refund amount claimed by the exporter of services (with payment of tax), against the proceeds realised (against exports, as submitted by the claimant in form of FIRC). If the value realised mentioned in BRC/FIRC column, was less than the refund amount claimed, then such taxpayers were not allowed to file their refund application on GST Portal. This validation has now been removed and taxpayers will be able to file refund applications now in such cases (As the value realised in BRC/FIRC may fluctuate due to foreign exchange fluctuations and net realisation may be less than the refund amount).
• Audit related functionalities made available to taxpayers
All notices and reports issued by tax officials will be available to taxpayers under ‘Additional Notices and Orders’. Taxpayers can reply to the audit notices and can upload documents. Taxpayers can accept/reject/pay the liabilities, discrepancy-wise, as outlined in the Notice for Discrepancies or in Addl. Notice for Discrepancies (if any) or in Audit Report (Form GST ADT-02). Taxpayers can apply for Adjournment or for extension of the date of Audit to the tax officer.
1. Status of Aadhaar authentication or E- KYC verification of a GSTIN in search taxpayer functionality
In the Search Taxpayer functionality (both pre-login and post login), the user will now be shown status of Aadhaar authentication or E-KYC verification of the searched GSTIN.
1. Change in label and functionality of HSN / Service Classification Code Tax Rate search
The label for “Search HSN / Service Classification Code Tax Rate” has now been changed to “Search HSN Code”. The functionality also has been enhanced wherein if the user searches for an item or a HSN code, the output is displayed systematically under the associated Chapter head, the description of the keyed- in HSN code and also other associated HSN codes (all hyperlinked) along with it. (Services> User Services > Search HSN Code).
1. Webinar
The Webinar on e-Invoicing for Taxpayers especially for those who are going to start e-invoicing from March 1, 2021 onwards.

Source: TaxScan.

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Simplified GST returns
Change In GST Filing Rules For Small, Medium Assessees From 2021: Check Details

Change In GST Filing Rules For Small, Medium Assessees From 2021: Check Details

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In a move to ease the pressure on small taxpayers, the Centre has decided to introduce quarterly filing of return with monthly payment. Under this scheme, Goods and Services Tax (GST) assessees — having an annual aggregate turnover (AATO) up to Rs 5 crore — will be required to fill only four GSTR 3B forms as against 12 now.

The new scheme will be applicable from January 1, 2021 onwards and will impact almost 94 lakh taxpayers. The scheme referred to as Quarterly filing of Return with Monthly Payment (QRMP) Scheme would be available on the GST common portal. The taxpayers will also have the facility to opt in and opt out and again opt in.

“With quarterly scheme put to practice in GST, the small taxpayer, from January onward, would need to file only eight returns (four GSTR-3B and four GSTR-1 returns) instead of 16 returns at present, in a financial year. This would also result in the taxpayers’ professional expenses for filing returns getting significantly reduced,” HinduBusiness Line quoted an official as saying.

The government official stated that the new scheme will help put a curb on the menace of fake invoice frauds and bring Input Tax Credit (ITC) only on the reported invoices. Recently, the GST intelligence wing DGGI along with the CGST Commissionerates have arrested 114 persons besides booking 1,230 cases against 3,778 fake GSTIN entities so far.

Invoice Filing Facility (IFF):
Apart from other benefits, the QRMP scheme has an optional feature of Invoice Filing Facility (IFF). This facility has been added to mitigate business-related hardships for medium and small taxpayers.

This facility has been added for those taxpayers who opt to be quarterly return filers. It will enable them to file and upload the invoices. Also, it will enable them to upload those invoices for the first and second month of the quarter, which the recipients have demanded.

However, IFF allows taxpayers to upload invoices of the first and second months in the quarterly GSTR-1 return. The facility will be available up to a cut-off date and will help taxpayers receive the credit after the cut-off date on filing of the IFF.

Also, the option of paying the due monthly taxes as per his/her own choice by cash ledger or through pre-filled challan has been added in the scheme. With this, the requirement of professional help would decrease and taxpayers simply make payments through a system-generated pre-filled challan.

Source: Money-Control.

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Effortlessly!!!

Our GST software enables you to file your GST returns free of any hassle. Get more details by writing to us at gst@xattax.in.

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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GST: GSTR Form 3B
GST Council allows Quarterly filing of GSTR-3B for less than 5cr Turnover

GST Council allows Quarterly filing of GSTR-3B for less than 5cr Turnover

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The 42nd GST Council Meeting held today has decided to allow the quarterly filing GSTR-3B returns having less than five crores turnover.

This facility will be available from January 1st, 2021. From Jan 2021, the number of returns for small taxpayers will be reduced from 24 to 8. However, since states require money every month, payments can be made through challan every month, even though returns can be filed every quarter.

GSTR-2B has been provided to help Taxpayers calculate input tax credit; it will give taxpayers a complete idea of the ITC they are entitled to, said Finance Secretary.

Filing GSTR-3B is mandatory even for Nil returns. GSTR-3B is a monthly return. All regular taxpayers need to file this return till June 2018. Taxpayers can file their return on GST Portal. Taxpayers have to file this return by 20th of the subsequent month.

As a further step towards reducing the compliance burden particularly on the small taxpayers having aggregate annual turnover < Rs. 5 cr., the Council’s earlier recommendation of allowing filing of returns on a quarterly basis with monthly payments by such taxpayers to be implemented w.e.f. 01.01.2021. Such quarterly taxpayers would, for the first two months of the quarter, have an option to pay 35% of the net cash tax liability of the last quarter using an auto generated challan.

Source: TaxScan.

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Effortlessly!!!

Our GST software enables you to file your GST returns free of any hassle. Get more details by writing to us at gst@xattax.in.

gst advisory
GSTN issues Advisory on Tracking GST Refund Application Status on GST Portal and PFMS portal

GSTN issues Advisory on Tracking GST Refund Application Status on GST Portal and PFMS portal

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The functionality of tracking the status of the refund application has been available on the GST portal. By utilizing this functionality, the taxpayers can know the stage at which the refund application is pending with the tax-officer/ taxpayer.

A tax officer can issue payment orders only after the Public Financial Management System (PFMS) has validated the bank account mentioned in the refund application (RFD-01). Similarly, the final disbursement of the refund amount sanctioned by the tax officer happens only after (PFMS) has validated the bank account mentioned in the payment order (RFD-05). Thus, validation of the bank account takes place at two stages. However, the exact detailed status of bank account validation is not available on the GST Portal.

The Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has made available a central portal to track the status of bank account validation and disbursal of refund amount. By visiting the PFMS portal the taxpayer can track the status of bank account validation.

This advisory is being issued for the benefit of the taxpayers in order to make them aware of the ways in which they can track the status of their refund applications on both the Portals.

for the detailed info https://tutorial.gst.gov.in/downloads/news/Advisory%20on%20Refund%20Tracking.pdf

Source: TaxScan.

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Effortlessly!!!

Our GST software enables you to file your GST returns free of any hassle. Get more details by writing to us at gst@xattax.in.

GSTN
Return filing system is working fine: GSTN

Return filing system is working fine: GSTN

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GST Network on Monday said the return filing system is working fine. The statement comes a day after certain complaints made on the social media regarding the GSTN system not functioning.

GSTN said that the GST return filing system is working within expected limits. “Had it not been so, how more than 11.52 lakh GSTR3B (October) returns could have been filed yesterday with about 1.82 lakh returns filed in a peak hour,” it said.

Also, on November 18, more than 8.14 lakh returns were filed, while on Wednesday, over 9.23 lakh GSTR 3B returns were filed by 4.00 pm and filing is going on smooth with 6.30 lakh returns filed between 12 to 4 pm, it said.

GSTN said any online system has to have a load threshold and for GST return filing system, it is at 1.5 lakh returns filing at a particular moment. If this threshold is reached, the site shows a message asking the taxpayer to wait for his turn in a few minutes, it said.

Referring to complaints, GSTN said it could have been possible that some filers may have momentarily experienced being logged out at the load threshold of 1.5 lakh returns load at a particular point of time or some difficulty due to any local issue at the taxpayer filers’ end.

GSTN said the taxpayers are requested that they should not wait till the last three days to file their returns as normally there may be huge rush of return filing on these days.

Source: Economic-Times

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  • Integration with all popular accounting software
  • Manage your GST and E-WayBill Software anytime anywhere using multiple devices

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GST
Lack of clarity in GST forms, traders worried

Lack of clarity in GST forms, traders worried

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Lack of clarity and difficulties in furnishing series of new details asked in the annual return form under Goods and Services Tax (GST) are seen resulting in mismatches and record notices to taxpayers, chartered accountants and tax experts said.

Plethora of information demanded in GST annual return form that has about 19 tables raised worries of dealers apprehending to be slapped with notices in case of mismatches.

Many dealers are delaying filing the annual return forms due to ambiguity on data demanded in annual return that does not allow any rectification ones it is filed. The last date for filing the annual return is June 30.

CA and GST expert Sunil Jain said, “Annual return form needs a reconsideration else the whole system will be jammed in just resolving mistakes and reconciliations.”

“There are a lot of chances of mismatches that will lead to notices to dealers because of lack of clarity on the data and certain details asked for the first time from dealers.”

CA Kirti Joshi said, “There are high chances of mismatches in the annual return turnover and book of accounts turnover. Dealers should be prepared for reconciliations.”

Tax payers will be filing the first annual return for the financial year 2017/2018.

The state GST department has received many suggestions from different bodies of tax consultants and chartered accountants to be incorporated in annual return form.

State commercial tax department joint commissioner Sudip Gupta said, “Any matters which are not clear must be raised and brought in to notice of the law committee either directly or through me and we will look into it at the earliest.”

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Source: Times of India.
input tax credit
No input tax credit if GST returns not filed, says HC

No input tax credit if GST returns not filed, says HC

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The Telangana high court has ruled that no input tax credit (ITC) is available unless GST returns are filed and a taxpayer is liable to pay penalty on the entire liability. The ruling is expected to have a significant impact on all businesses that use tax credits available on inputs and raw materials to reduce payment in cash.

“…until a return is filed as self-assessed, no entitlement to credit and no actual entry in the electronic credit ledger takes place. As a consequence, no payment can be made from out of such a credit entry,” Justices V Ramasubramanian and P Keshava Rao said in a case involving Megha Engineering & Infrastructures and GST Authorities.

The company had delayed filing the GST returns from July 2017 to May 2018 when its tax liability added up to Rs 1,014 crore. It had ITC of Rs 968 crore and it claimed that the shortfall was to the tune of Rs 45 crore. While the tax authorities demanded 18% interest on the entire amount, Megha Engineering argued that interest should only be calculated on the net tax liability, after deducting ITC from the total liability. The court upheld the department’s view.

“The ruling has very wide implication as almost all taxpayers, who delayed filing returns and have paid interest only on cash payment of tax and not on the GST amount set off by them through ITC. The issue will open a floodgate of litigation and demands of interest by GST officials are imminent. Even CAs while auditing Annual GST Returns, which have to be filed by June 30, may be required to point out short payment of interest due to delayed set-off,” said tax lawyer RS Sharma.

Tax experts said that companies were relying on VAT rulings and clearing cash dues to employees and suppliers before paying GST and the ruling will change this practice. “Businesses should be very cautious in understanding the distinction between the VAT position and the GST position as the consequences could be very severe. This decision states this aspect very clearly,” said M S Mani, partner at Deloitte India.
Sharma said some respite may come in the future.

Ease Your GST Retrun Filing & Invoice with XaTTaX- GST Software

Source: Times of India.
Need to make additional GST payment? Here’s how to go about it

Need to make additional GST payment? Here’s how to go about it

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During the course of filing GST Return, a taxpayer may discover additional tax liabilities that he or she may need to pay. GST tax portal has a provision that allows you to do so.

“There is a section in the GST portal that talks about user services. There you need to choose DRC 03 and then opt for annual returns. You can use this to make any additional tax deposits, but need to ensure you have sufficient funds in your electronic cash ledger while using this form to make any additional tax payments,” says Deloitte India, Senior Director, Saloni Roy.

GSTR

GSTR

the shortfall can be on account of tax not being paid or short paid. It can also be on account of tax erroneously refunded or input tax credit wrongly availed or utilized. Payment using DRC 03 can either be voluntarily by the taxpayer when he or she discovers the shortfall, or it can be when the taxman issues a show cause notice (SCN).

In the case of an SCN, a taxpayer who has been issued a notice in form DRC-01 or DRC-02 can make payment and intimate it to the proper officer inform DRC-03 within 30 days from the date of issuance of such notice. However, in the case of voluntary payments, such time limits do not apply.

Is there any interest on these payments? “On any delayed payment, there is an interest liability. This interest can be deposited at the time of making the additional tax payment,” says Roy.

The following details are required in DRC 03:
GSTIN and name;
Cause of payment (Voluntary, SCN, etc.);
Section under which payment is made (73 or 74.Not applicable for voluntary payment);
Reference number, if SCN issued in DRC-01 or DRC-02;
Financial year, tax period and ACT; and
Payment details including interest, penalty, and others.

Where a person has made a voluntary payment of taxes, interest or other dues in form DRC03 before issuance of show cause notice and if tax officials are satisfied with the intimation of an acknowledgment in form DRC-04 will be made available to the taxpayer. In the case of payments against SCN, form DRC-05 specifying about the conclusion of proceedings in respect of the notice will be issued to a taxpayer.

Ease Your GST Filing & Invoice with XaTTaX GST Software

Source: Economic Times