Advisory: Date extension for reporting opening balance for ITC reversal

29/12/2023

1. In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement was introduced on the GST portal. This statement was made available to help the taxpayers in tracking their ITC that has been reversed in Table 4B(2) and thereafter re-claimed in Table 4D(1) and 4A(5). Kindly click here for the detailed advisory provided earlier.

2. Now to facilitate taxpayers further, opportunity to declare opening balance for ITC reversal in the statement has been extended till 31st January, 2024.

3. Kindly note that after declaring the opening balance for ITC reversal, only three amendment opportunities post the declaration will be provided to correct declared opening balance in case of any mistakes or inaccuracies in reporting.

4. Facility to amend declared opening balance for ITC reversal will be available till 29th February, 2024.

FY 1819 Order date extended by CBIC From March 24 to April 24

Big Breaking

FY 1819 Order date extended by CBIC From March 24 to April 24It means now they can issue SCN FY 1819 till 31st Jan, 24, earlier date was 31st Dec FY 1819 के ऑर्डर पास करने की Date बढ़ा दी गई है, अब Dec की जगह Jan तक ये SCN इशू कर सकते है FY 1819 का Section 73 में

*Time limits for issuance of order u/s 73* for FY 2019-20 have also been extended vide Notifications no 56/2023

For FY 18-19: From 31-03-24 to 30-04-24 

For FY 19-20: From 30-06-24 to 31-08-24 

*In simple terms, the GST department can now issue SCNs*

*For FY 18-19: until 31.01.2024*

*For FY 19-20: until 31.05.2024*

 

Summary of GSTR-9 & GSTR-9C Optional and Mandatory Tables, since FY 2017-2018

Summary of GSTR-9 & GSTR-9C Optional and Mandatory Tables, since FY 2017-2018

Relevant Notifications under GST

56/2019 (14-11-2019)

79/2020 (15-10-2020)

30/2021 (30-07-2021)

14/2022 (05-07-2022)

38/2023 (04-08-2023)

Assessment & Audit under GST Pan India Webinar 19-12-2023

 मूल्यांकन एवं लेखापरीक्षा

जीएसटी पैन इंडिया वेबिनार के तहत 19-12-2023

Assessment & Audit under GST Pan India Webinar 19-12-2023

The Income Tax Department provides the following key services within specified timelines given below.

The Income Tax Department provides the following key services within specified timelines given below. 

लायबिलिटी E Invoice बनाने की

अगर कोई Supplier की लायबिलिटी है E Invoice बनाने की और उसने नहीं बनाया है तो 

1) ख़रीददार के पास अब जो Invoice है उसको Invoice ही नहीं माना जाएगा और उसको ITC नहीं मिलेगा ख़रीद का 

2) Seller के लिए वो Supply बिना इनवॉइस के मानी जाएगी और उस पर Section 122 की पेनल्टी लग जाएगी, जो की 100% of Tax or 10K, Whichever is Higher होगी

अभी तो पोर्टल पुराने Date की E Invoice बनाने दे रहा है तो आप बना सकते है और इन सब झमेले से निकल सकते है, कल को अगर उन्होंने बंद कर दिया पुरानी Date का E- Invoice बनाने देना, तो बड़ा इशू हो जाएगा ख़रीदार और सेलर, दोनों के लिए 

If FY 21-22 Transactions showed in FY 22-23 GSTR 3B then what to be reported in GSTR 9 of FY 22-23(Pic 1) Sale, Purchase and RCM Transactions of FY 2022-23, where it is to be Reported in GSTR 9 (Pic 2)

If FY 21-22 Transactions showed in FY 22-23 GSTR 3B then what to be reported in GSTR 9 of FY 22-23

(Pic 1) 

Sale, Purchase and RCM Transactions of FY 2022-23, where it is to be Reported in GSTR 9 (Pic 2) 

GST on stationery items commonly used by school and college going students

GST on stationery items commonly used by school and college going students

15 Very Important GST facets that demand your attention -

15 Very Important GST facets that demand your attention - 

In routine monthly tasks in GST that keeps us so busy in compliances like GSTR1 , 2B , 3B , 2A and dealing with E-invoice & eway bills issues , We often don’t get time to check certain non-routine, yet exceptionally vital, facets of GST . 

In this article, we delve into a compilation of 15 critical elements in GST that extend beyond the ordinary, shedding light on their significance

 

*TWO FACTOR AUTHENTICATION FOR LOGIN TO GST PORTAL*

*GST UPDATE*

*TWO FACTOR AUTHENTICATION FOR LOGIN TO GST PORTAL*

GSTN is introducing two-factor authentication (2FA) for taxpayers to strengthen the login security in GST portal, in states of PUNJAB, CHANDIGARH, UTTARAKHAND, RAJASTHAN & DELHI, from *1st December 2023*

Taxpayers would need to provide one-time password (OTP) post entering user id and password, the OTP will be delivered to their Primary Authorized Signatory “Mobile number and E-mail id”.

This OTP would only be asked, in case the tax-payer changes the system (desktop or laptop or browser) and location.