Tag Archives: GST

GSTR-9

update from CBIC twitter handle

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e-invoicing for B2B

update from CBIC twitter handle

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composition scheme

update from GST portal

Opting-in for Composition Scheme for Financial year 2021-22

24/03/2021

  1. How to opt-in for Composition Scheme:
    • The eligible registered taxpayers, who want to opt-in for composition scheme for the FY 2021-22, need to file FORM GST CMP-02 application, on or before 31st March, 2021, post login on GST portal. The taxpayers may navigate as follows:
  2. Once Form GST CMP-02 application is filed, the composition scheme will be available to the taxpayer, w.e.f. 1st April 2021.
  3. The taxpayers already opted in for composition scheme earlier are not required to opt in again for FY 2021-2022.
  4. Taxpayers who were regular taxpayers in previous FY, but are opting-in for composition scheme for 2021-22, must file Form GST ITC-03 for reversal of ITC on stocks of inputs, semi-finished goods and finished goods available with them, within 60 days from the effective date of opting in.
  5. Who is eligible for opting-in for Composition Scheme:– Following Normal taxpayers, who don’t want to avail ITC facility, may opt for this scheme:
    • having aggregate turnover (at PAN level) upto Rs. 1.5 Crore in the previous FY.
    • having aggregate turnover (at PAN level) upto Rs. 75 lakh in the previous FY and who are registered in Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura & Uttarakhand.
    • supplying services and/or mixed supplies having aggregate turnover of previous FY upto Rs. 50 lakhs.
  6. Who is not eligible for opting in composition scheme:
    • Suppliers of the goods/services who are not liable to pay tax under GST
    • Inter-State outward suppliers of goods/services
    • Taxpayers supplying goods through e-commerce operators who are required to collect tax under sec 52
    • The manufacturers of notified goods like Ice cream and other edible ice, whether or not containing cocoa, tobacco and manufactured tobacco substitutes, Pan Masala & Aerated water

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HSN Code

update from CBIC twitter handle

One more round of compliance for the tax payers from the new financial year in India.

By the way I am already mentioning the 6 digit HSN Code in all my tax invoices from 1st July, 2017 onwards, so don’t know what has changed.

That is ease of doing business for you.

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form GSTR-3B

updates from GST portal

Due dates for filing of Form GSTR-3B from the Tax Period of January, 2021

16/03/2021

1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No 82/2020 – Central Tax, dated 10th Nov., 2020, has revised Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from January, 2021, onwards, as under:

This has been bought about under the QRMP scheme (i.e quarterly returns monthly payment) by which assessees are allowed to pay their tax monthly but file their returns quarterly.

But actually its a bummer of a scheme, because filing of form GSTR-3B post payment of the monthly tax actually used to take only 2 additional minutes. So what ease of doing business govt. has achieved by this move, God only knows.

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Payment of Tax by Fixed Sum Method under QRMP Scheme – GST

03/02/2021

  1. 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:
  1. Fixed Sum Method: Portal can generate a pre-filled challan in Form GST PMT-06 based on his past record.
    1. 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 amount paid as tax from Electronic Cash Ledger in their preceding quarter GSTR 3B return, if it was furnished on quarterly basis; or
    1. 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
    1. There is NIL tax liability

This whole scheme seems to be quite complicated. I did’nt understand a word of it, although it applies to me squarely. Strange it is that no matter how much the tax authorities try to simplify things, it becomes more complicated. This happens because they look at the things from their world point of view. It would be better if the planners place themselves in the seat of the assessee and look at the situation from their world view.

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auto population of e-invoice details

update from GST portal

Auto-population of e-invoice details into GSTR-1

01/02/2021

  1. Certain notified taxpayers have been issuing invoices after obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from the reported e-invoices are being auto-populated in respective tables of GSTR-1. Update on the same was last published on last published on 11/1/2021.
  2. In the above update, it was informed that while pulling the e-invoice data into GST System, details of some invoices were not getting populated into GSTR-1. Troubleshooting has been done and efforts to correct this inadvertent gap are still on. Complete data pull is likely to take some more time.

    Hence, taxpayers are hereby advised not to wait for the complete auto-population, and instead proceed with preparation and filing of GSTR-1 (by the due date), based on actual data as per their records.

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GST due dates for Dec 2020

update on GST portal

Due dates for filing of Form GSTR-3B for the Tax Period of December, 2020

13/01/2021

1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 10th Nov., 2020, has inserted sub rule 6 in Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax period of December, 2020 as under:

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auto population of e-invoice

update from GST portal

Auto-population of e-invoice details into GSTR-1

11/01/2021

  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 on 30/12/2020
A detailed advisory regarding methodology of auto-population of e-invoice details into GSTR-1 is already published on GSTR-1 dashboard. You can read the same HERE.

  1. It is observed that, while pulling the e-invoice data for the month of December, 2020 into GSTR-1, details of some invoices were not populated into GSTR-1. This inadvertent gap is being rectified on priority and details of those invoices will be pushed to GSTR-1 shortly.

However, taxpayers should not wait for the same and advised to proceed with preparation and filing of GSTR-1 for the month of December, 2020 (before the due date), based on actual data as per their records.    

  1. As already noted in the afore-mentioned advisory, the taxpayers may modify/delete only those documents where the details auto-populated from e-invoices are not as per the actual documents issued.

Otherwise, the details of e-invoices auto-populated in GSTR-1 can be edited/deleted by the taxpayer.However, in such cases, the ‘Source’, ‘IRN’ and ‘IRN date’ fields will be reset to blank in respective tables of GSTR-1 and accordingly won’t get reflected in GSTR-2A/2B/4A/6A also. Such edited documents will be treated as if they were not auto-populated but uploaded separately by taxpayer. 

  1. Other than the details auto-populated from e-invoices, taxpayers are required to add details of any other supplies made, in respective tables of GSTR-1.
  2. An additional facility of consolidated excel download of all documents auto-populated from e-invoices is available in GSTR-1 dashboard. This file includes details of cancelled documents also.  

However, any subsequent modifications made to the auto-populated documents (in GSTR-1 tables) would not be reflected in this excel file.

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e-KYC on GST portal

update from GST portal.

Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal

07/01/2021

  1. Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication or e-KYC on GST Portal. This is not applicable for Government Departments, Public Sector Undertakings, Local Authorities and Statutory Bodies.
  2. What is Aadhaar Authentication or e-KYC
  3. a)If Aadhaar is available, the Primary Authorized signatory and 1 person who is Proprietor/Partner/Director /Managing Partner/ Karta of the entity registered can go for the Aadhaar Authentication.
  4. b)In absence of Aadhaar, they can upload any of the following documents to undergo e-KYC:
  5. •Aadhaar Enrolment Number
  6. •Passport
  7. •EPIC (Voter ID Card)
  8. •KYC Form
  9. •Certificate issued by Competent Authority
  10. •Others
  11. How to do Aadhar Authentication/ e-KYC on Portal
  12. a)When an existing registered taxpayer would login, a pop-up with Question will be shown “Would you like to authenticate Aadhaar of the Partner/Promotor and Primary Authorized Signatory “ with the two options “Yes, navigate to My Profile” and “Remind me later”.
  13. b)If taxpayer clicks on “Remind me later” pop up will be closed and user can navigate anywhere on the GST portal.
  14. c)If taxpayer clicks on “Yes, Navigate to My Profile”, system will navigate to My Profile. In MY PROFILE, a new tab “Aadhaar Authentication status” has been shown from where link for Aadhaar Authentication to the Primary Authorized Signatory and one of promoters/partners as selected by him will be sent.
  15. Note: If same person is Primary Authorized Signatory and Partner/Promoter, Aadhaar authentication is only required to be done for that person.
  16. d)On the My profile page, in addition to SEND AADHAAR AUTHENTICATION LINK, UPLOAD E-KYC DOCUMENTS option would also be displayed to taxpayer from where they can upload the e-KYC documents on Portal. In this case, the process of e-KYC authentication would be subject to approval of uploaded e-KYC documents by Tax Official.

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invoice furnishing facility

update from GST portal

Invoice Furnishing Facility (IFF) for Taxpayers under QRMP Scheme

06/01/2021

  1. An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and also of Form GSTR-3B returns), as per sub-rule (2) of Rule-59 of the CGST Rules, 2017. Taxpayers who have opted for quarterly filing frequency under the scheme can file their details of outward supplies (B2B invoices only) for first two months of a quarter (M1 and M2 respectively of a Quarter) in IFF. For e.g. for Apr-June qtr., B2B invoices only for the months of April (M1) and May (M2) can be filed in IFF by a taxpayer.
  2. The IFF is a facility similar to Form GSTR-1, and it allows filing of details of B2B invoices in following tables only:
    1. The option to upload details in IFF can be availed till 13th of the subsequent month. Any invoices remaining to be furnished, can be filed using the IFF in the subsequent month IFF or in the quarterly Form GSTR-1. For e.g. for Apr-June qtr., B2B invoices for the month of April (M1) can be filed in IFF by a taxpayer till 13th May. Any IFF which is not filed till the due date of 13th of the subsequent month will expire.
    2. To file the IFF form for M1 and M2 of the month, login to GST Portal and navigate to Returns > Services > Returns Dashboard > File Returns and then
    3. IFF is an optional facility provided to taxpayers under QRMP scheme to pass on Input Tax Credit (ITC) to their recipients for M1 and M2 months of a quarter. However, filing of Form GSTR-1 for M3 month of a quarter is mandatory.

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      Auto-population of e-invoice details into GSTR-1/2A/2B/4A/6A

      update from GST portal

      1. Certain notified taxpayers have been issuing invoices after obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from such e-invoices shall be auto-populated in respective tables of GSTR-1. Update on the status of such auto-population was last published on 30/11/2020.
      2. For those taxpayers who had started e-invoicing from 1-10-2020, the auto-population of e-invoice data into GSTR-1 (of December 2020) had started from December 3rd, 2020.

        In this regard, following is to be noted by those taxpayers:
      3. Owing to existing validations in GSTR-1, e-invoices reported with below commonly observed issues are not auto-populated in the tables of GSTR-1 but are made available in the consolidated excel file downloadable from GSTR-1 dashboard (with corresponding error description):
      4. Further, in certain cases, e-invoice details could not be processed (and hence were not auto-populated) due to data structure issues. These errors may be taken note of and shall be avoided while reporting the data to IRP.
      5. The detailed advisory with methodology of auto-population etc. is already made available on the GSTR-1 dashboard (‘e-invoice advisory’) and also e-mailed to relevant taxpayers.
      6. It is once again reiterated that the auto-population of details from e-invoices into GSTR-1 is only a facility for the taxpayers. After viewing the auto-populated data, the taxpayer shall verify the propriety and accuracy of the amounts and all other data in each field, especially from the perspective of GSTR-1 and file the same, in the light of relevant legal provisions.
      7. The taxpayers are once again requested to verify the documents auto-populated in GSTR-1 tables and consolidated excel and may share feedback on GST Self Service Portal, on below aspects:
      8. 1.All documents reported to IRP are present in excel
      9. 2.Status of each e-invoice/IRN is correct
      10. 3.All the details of document are populated correctly

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      liability for inward supplies attracting reverse charge

      Update on GST portal

      Ignore prompt on liability for inward supplies attracting reverse charge in Table-3.1 (d)

      19/12/2020

      The system has started providing auto-populated GSTR-3B on the basis of GSTR-1 & GSTR-2B from the tax period of November 2020 onwards. In this auto-populated GSTR-3B, liability on account of inward supplies attracting reverse charge auto-populated in Table-3.1(d) is also drawn from GSTR-2B of the taxpayer for the said tax period. The values in GSTR 2B are auto populated from the GSTR-1 of the counter-parties making the supply.

      It is noticed that the system is giving alert when the taxpayer revises the auto-populated values upward by 10% in table 3.1(d) which pertains to inward supplies attracting reverse charge. This alert is erroneous. The technical team is working to resolve the same at the earliest.

      Meanwhile, the taxpayers may kindly continue to declare their correct liability in Table-3.1(d) pertaining to liability on inward supplies attracting reverse charge and proceed to file GSTR-3B

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      Auto population of details in Form GSTR-3B from Form GSTR 1 & GSTR 2B

      Updates on the GST portal

      1. Auto Populated details in Form GSTR 3B: Now, auto-population of system computed details in Form GSTR-3B, has been enabled for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The same will be done based on the following:
      2. PDF Format of FORM GSTR-3B: The table-wise computation of the values, auto-populated in Form GSTR-3B, is made available in PDF format also on the Form GSTR-3B dashboard. The same can be downloaded by clicking on the “System Generated GSTR-3B” tab.
      3. Salient features:
      4. These system computed auto populated values are only for assisting the taxpayers in filing their Form GSTR 3B. Taxpayers have to ensure the correctness of the values being reported and filed in Form GSTR-3B.
      5. The system will prompt the taxpayers with an alert in cases where the variance of the edited values from the auto-populated values is higher than a particular threshold. Taxpayers can change/ edit the auto populated values in Form GSTR-3B.
      6. In case taxpayer has not filed Form GSTR-1 for the period, system generated summary will display the respective values as ‘Not filed’. Similarly, if Form GSTR-2B is not generated for the period, system generated summary will display the respective values as ‘Not generated’.
      7. If the taxpayer has entered & saved any values in Form GSTR-3B before auto-population by the system, the saved values will not be changed/over-written by the system.
      8. Table 5 and 6.2 of FORM GSTR-3B is not part of the PDF & will not be auto-populated by the system.

      Comments: This is a welcome move by the GST department.

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      GSTR-9 of FY 2019-20

      update from GST portal

      GSTR-9 of FY 2019-20 is available now

      10/12/2020

      Facility to file 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 the table 8A of the said return for auto population from returns is under 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.

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