GSTN News

GST Portal has now been enabled to allow taxpayers to file Appeal applications(APL 01) against SPL 07 (Rejection) Order.

Previously, there was no such restriction for businesses to upload the invoices on the IRP.  

Under GST law, e-invoicing for B2B transactions was made mandatory for companies with turnover of over Rs 100 crore effective January 1, 2021.

In order to provide sufficient time for taxpayers to comply with this requirement, this new format would be implemented from May 1, 2023.

Downloading e-PAN is easy Downloading Pdf is a secured process Refer to NSDL e-Gov for more information

With the facility of SMS getting activated, taxpayers with NIL liability need not log on to the GST portal and would be able to file their NIL returns through a SMS on "14409".

While GSTR-1 for a month is filed by the 11th day of the succeeding month, GSTR-3B is filed and taxes paid by the 20th day of the succeeding month.

GSTN Board will initiate the process for acquisition of equity held by the private companies.

So far, the government has sanctioned more than Rs 30,000 crore as GST Refund.

The meeting comes at a time when Goods and Services Tax (GST) collections achieved its record high by exceeding Rs 1 lakh crore milestone in April.

The Union Finance Minister Arun Jaitley-chaired council, comprising state finance ministers, will meet through video conferencing.

Besides plugging tax evasion, the e-way bill is supposed to boost revenues by 15-20%.

According to the survey, respondents emphasised that filing of returns be made simpler and there should also be a centralised registration for inter-state services.

The GST Council is also likely to give nod to rationalisation of rates on over 60-70 items.

This will be the sixth meeting of the Group of Ministers (GoM) after being set up in September 2017.

Table 6A of Form GSTR1 allows taxpayers to file export related data for the period concerned that permits processing of the tax refund on the basis of declaration made under Form GSTR 3B and Table 6A of GSTR-1.

Nearly 47 lakh businesses had filed GSTR-1 or sales returns, which has to be correspondingly matched with GSTR-2 or purchase returns.

Currently, manufacturers and restaurants with turnover up to Rs 1 crore pay GST under composition scheme at 2 percent and 5 percent respectively. The same for traders is 1 percent.

Jaitley, who is on a week-long visit to the US to attend the annual meetings of the International Monetary Fund and World Bank, said under the GST the government has unveiled attractive schemes to ensure that the non-compliant in India become compliant.

Emphasising that indirect tax burden is borne by all sections of the society, the minister said it is always the endeavour of the government to bring down tax rates on mass consumption commodities.