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GST Network mentioned the monthly returns data for July and August 2017, the start of the Goods and Services tax incorporation has been restored on the portal. The GSTN mentioned that it is executing its data policy, under which the data for the assessments would be retained for 7 years. Therefore the GST returns data […]
The cancellation of the GST registration of the applicant has been revoked by the Madras High Court, remarking that the applicant has furnished proof of timely submission of monthly returns. The court remarked that a procedural lapse via the department which was not able to consider the furnished evidence of filings before the issuance of […]
Some altered guidelines have been given by the center for GST returns along with the introduction of the Quarterly Return Filing (QRMP) through the monthly payment for the assessee in the new guidelines but the micro, small and medium enterprise (MSMEs) has declined the given rule by the center. Beneath the policy the goods and […]
The Central Board of Indirect Taxes and Customs (CBIC) had published the Quarterly Return Monthly Payment Scheme. CBIC states that the enrolled individual to whom the return in form GSTR-3B is to be filed while providing the eligibility for QRMP, and those whose average turnover is Rs 5 cr in the previous fiscal year are […]
The computer system of the GST portal failed on Tuesday when there was only a day left for filing the GSTR-3B return form. Many taxpayers started facing trouble in filing the returns on GST portal as the portal crashes. Thousands of filers complaint about the issues on Twitter underlining the difficulty they are encountering while […]
After the GST implementation, many changes have been taking place to make it a better tax reform in India. As Goods and Services Tax Network (GSTN) is the IT foundation of the newly integrated indirect tax regime, the GST council is putting efforts to make it more compatible according to taxpayers.
Central Board of Excise and Customs (CBEC) has given a new draft rule regarding the implication of popular taxation regime GST on Tuesday. The format on GST return and refunds required assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest, and fees.
The Calcutta High Court recently addressed a case involving a reporting error related to cess in the monthly GSTR-3B returns. The error was later rectified through the annual GSTR-9 return. The Court directed the authorities to reconsider the matter and take into account the corrections made in the annual return for the initial omission of […]
In India, Input Tax Credit (ITC) is a crucial part of the Goods and Services Tax (GST) system. It allows businesses to reduce their tax liability on purchases by claiming credit for taxes already paid. However, businesses often encounter issues due to discrepancies between the ITC reported in GSTR-3B (the monthly summary return) and the […]
