7 ViewsThe Government vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 has notified few changes in Table 4 of Form GSTR-3B requiring taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B. The detailed Notification can be viewed by clicking here The notified […]
Introducing new Table 3.1.1 in GSTR-3B for reporting supplies u/s 9(5)
11 ViewsAccording to section 9(5) of CGST Act, 2017, Electronic Commerce Operator (ECO) is required to pay tax on supply of certain services notified by the government such as Passenger Transport Service, Accommodation services, Housekeeping Services & Restaurant Services, if such services are supplied through ECO. For reporting of such supplies a new Table 3.1.1 […]
Comprehensive changes in FORM GSTR-3B – Concept Paper published by CBIC seeking suggestions from stakeholders
17 ViewsA proposal of comprehensive changes in FORM GSTR-3B was deliberated by the GST Council in its 47th meeting held at Chandigarh on 28th and 29th June 2022. The Council recommended that the said proposal may be placed in public domain for seeking inputs and suggestions of the stakeholders. Accordingly, the general public and the […]
Compliance steps won’t hurt genuine businesses: Vivek Johri
3 ViewsUpcoming measures to improve GST compliance will be balanced, and will not cause any hardship to genuine businesses, Central Board of Indirect Taxes and Customs (CBIC) chairman Vivek Johri said. The assurance comes at a time businesses are concerned about further tightening of rules to boost revenue collection, as central and state governments face […]
GST Council may consider changes in monthly GST payment form
2 ViewsThe GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said. The move would help curb the menace of fake billing, whereby sellers would […]
GST Council likely to allow amendments to GSTR-3B
1 ViewsThe Goods and Services Tax Council is set to discuss a slew of law changes it is looking to introduce, CNBC-TV18 reported. This would include amendments to GSTR-3B the monthly GST return to be filed by taxpayers among others. The GST Council will reportedly ease compliance bottlenecks for e-commerce suppliers by allowing them to […]
Govt. to further enhance auto population of GSTR-3B
1 Views GST Council likely to allow utilisation of amounts available in electronic credit ledger and electronic cash ledger for payment towards output tax due in return, except those in form of penalty, interest or fees Council likely to continue to exempt taxpayers below Rs 2 cr of annual turnover from filing annual return FORM […]
Operational creditors to furnish extracts of GSTR-1, GSTR-3B and e-way bills
8 ViewsThe Insolvency and Bankruptcy Board of India (IBBI/Board) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016 (CIRP Regulations) on June 14, 2022. The amendment provides the operational creditors to furnish extracts of Form GSTR-1, Form GSTR-3B and e-way bills, wherever applicable along with the […]
GST Council may consider modification in monthly tax payment form
1 ViewsThe GST Council is likely to consider modification in summary return and monthly tax payment form, GSTR-3B, in its meeting next month, with a view to check fake input tax credit claims and expedite settlement of genuine ones, an official said. According to officials, the modified form will provide clarity with regard to gross […]
Due date for furnishing Form GSTR-3B for April, 2022 extended till May 24, 2022
0 ViewsThe CBIC vide Notification No. 05/2022- Central Tax dated May 17, 2022 extended the due date for furnishing Form GSTR-3B for the month of April, 2022 till the May 24, 2022 due to the non-availability of Form GSTR-2B for the month of April, 2022 on time i.e. by May 14, 2022.