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The time limit to claim Input tax credit on invoices or debit note pertaining to previous year 2021-22 is 31.10.2022 as the amended provision states that the taxpayer can claim input tax credit till the compliances to be done before…
For some of the taxpayers, there was an issue in relation to duplicate entries in GSTR2B which has since been fixed and correct GSTR 2B has been generated. In this regard, taxpayers while filing GSTR3B are advised to check and…
A few taxpayers (recipients of supply) had reported that they have observed same invoice twice in GSTR2B i.e. April and May, 2022. The error has been rectified and correct GSTR 2B is being generated. Source: GSTN
GSTN displayed an instruction stating as “Few taxpayers (recipients of supply) have reported that they have observed same invoice twice in GSTR 2B i.e. April and May,2022. Taxpayers are advised not to avail ITC on same invoice twice. A solution…
It may be noted that, the Input Tax Credit (ITC) gets auto populated in GSTR-3B from GSTR-2B only if the taxpayer has not saved any data in GSTR-3B for that tax period. 2. The auto population of ITC in GSTR-3B…
It has been noticed that in a few cases, certain records are not reflected in the GSTR-2B statement for the period of April 2022. However, such records are visible in GSTR-2A of such recipients. The technical team is working to…
By, Mr. Ashish Miglani INTRODUCTION The GST Law was introduced on 1st July 2017 as per 101 constitution amendment act and it was promised that there would be seamless flow of inpu tax credit and object was NO cascading of taxes…
Now, we have to be very careful to deal with a compliant tax payer alone because the new provision added in the condition to claim input tax credit section just before 10 days requires that our supplier is a GST…
By, Mr. Parth Nagda The Central Government vide Notification No. 39/2021 – Central Tax dated 21.12.2021 seeks to bring into force certain clauses of Finance Act, 2021 prospectively from 1st January 2022 and some clauses which are effective retrospectively from…
Respected, Speaker Mr. CA Bimal Jain Sir has deliberated on topic “Burning issues in GST ITC” in Webinar conducted by “Tax Experts’ Pan India and Tax Kerala (Malayalam Business Magazine)” on 23.11.2021. Based on the issues discussed on topic I have prepared a detailed Note as…