Uncategorized – GST Platform

GST Return Revision

Gst Platform — Sat, 13 Jan 2024 03:36:27 +0000

𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗶𝘀𝘀𝘂𝗲𝘀 𝗻𝗼𝘁𝗶𝗰𝗲 𝘁𝗼 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗿𝘆 𝗿𝗲𝗴𝗮𝗿𝗱𝗶𝗻𝗴 𝗼𝗽𝘁𝗶𝗼𝗻 𝘁𝗼 𝗿𝗲𝘃𝗶𝘀𝗲 𝗚𝗦𝗧 𝗿𝗲𝘁𝘂𝗿𝗻 𝗼𝗻 𝘁𝗵𝗲 𝗚𝗦𝗧 𝗣𝗼𝗿𝘁𝗮𝗹

The Supreme Court (SC) has issued a notice in response to a writ petition filed by Pradeep Kanthed, seeking the Finance Ministry’s response on the absence of an option for revised returns on the GST Portal.
The petitioner argues that the absence of a provision for revised returns on the GST Portal is causing difficulties for GST-registered individuals and dealers, contrary to other revenue laws that typically include such provisions.
The petitioner contends that the lack of this option is illogical and deprives individuals of their fundamental rights. The matter is scheduled for a hearing on January 12.

Supreme Court – Pradeep Kanthed v. UOI [WRIT PETITION(S)(CIVIL) NO(S). 1006/2023]

Read Other Related Articles – https://gstplatform.com/no-itc-reversal-for-gstr2a-mismatch-says-supreme-court/

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Return Filing cannot be denied at any cost, says High Court.

Gst Platform — Tue, 09 Jan 2024 13:14:48 +0000

Best judgement assessment – returns were not filed by the petitioner within the prescribed time limit – What if ?

The honourable High court of Madras in the case of Comfort Shoe Components vs Assistant Commissioner Ambur has delivered an important decision on the question of Assessment on Best Judgement method for registered non-filers

In the present case, the petitioner had not filed the returns for the months of December 2022, January 2023 & February 2023 within the prescribed time limit, and hence the assessment order was passed by the respondent under Section 62(1) of the GST Act on 28.03.2023 and 10.04.2023 on the basis of records available on hand.

One may be aware that in terms of the provisions of Section 62(2) of the GST Act, if a registered person furnishes the valid returns within a period of 30 days of the service of assessment order under Sub-section (1) of Section 62 of the GST Act, the said assessment order would be deemed to have been withdrawn.

However, the liability for the payment of interest of Subsection (1) of Section 50 of the GST Act or for payment of late fee under Section 47 of the GST Act shall continue.

The idea of implementation of the said provision is to afford an opportunity to the registered person to furnish and file the returns within a period of 30 days from the date of service of assessment order, which was passed under Section 62(1) of the GST Act.

What if the petitioner failed to furnish the returns within a period of 30 days as prescribed under Section 62(2) of the GST Act?

The court had held that :-

The limitation of 30 days period prescribed under Section 62(2) of the Act appears to be directory in nature and if the Assessee was not able to file the returns for the reasons, which are beyond his control, certainly the said delay can be condonned and thereafter, the Assessee can be permitted to file the returns after payment of Tax, interest, penalty and other charges as applicable.

At any cost, the right to file the returns cannot be taken away stating that the petitioner has not filed any returns within a period of 30 days from the date of best judgement assessment order.

Thus, if any application is filed before the Authority concerned with sufficient reasons for non-filing of returns within the prescribed time limit as per section 62(2) of the Act, the same shall be considered on merits.

If the Authority is satisfied with the said reasons, they can condone the delay and permit the petitioner to file the returns, though, in the present case, no such application was filed by the petitioner.

The petitioner was directed to file an application for condonning the delay in filing the returns within a period of 15 days from the date of receipt of copy of this order.

Upon filing of the application for condonnation of delay, the respondent is directed to consider the said application and pass orders by taking into consideration of the reasons provided by the petitioner for non-filing of returns within a period of 30 days from the service of best judgement assessment order and thereafter, permit the petitioner to file the revised returns.

Well…..

Petition was disposed off and the important takeaway from the judgement is that

at any cost, the right to file the returns by the taxable person cannot be taken away without reasons

Citation:-
2024 (1) TMI 281 – Honourable Madras High Court – Comfort Shoe Components vs Assistant Commissioner (Ambur – Vellore)

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Functionality to check and update bank account details.

Gst Platform — Tue, 03 Aug 2021 04:36:37 +0000

How to add bank account in GST registration details.

A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017. Such taxpayers are required to update their Bank Account Details within 45 days of the first login henceforth.

The taxpayers may login and update Bank Account details through Non-core amendment in the manner as specified in the below table. In case the taxpayers who had not updated bank account after registration and are also failed to update within 45 days of their first login henceforth, the system will prompt and force them to comply with the requirements.

Steps to Update Bank Account Details

Login to the taxpayer portal
Go to ‘Services’
Click on ‘Registration’
Click on the tab ‘Amendment of Registration Non-Core Fields’
Select tab ‘Bank Accounts’
Add details of Bank Account (Account No., IFSC, Address, Bank Account type)
Click on the verification tab, select authorized signatory, enter a place
Sign application using DSC, E-sign or EVC.

Why it required to update the bank details ? Rule 10A of CGST Rules 2017

As per Rule 10A of CGST Rules , Every registered person is required to furnish bank account details on the portal within 45 days of the grant of registration or the due date of GSTR3B , whichever is earlier.

If Rule 10A is violated , the GST Registration may be canceled by the proper officer as per Rule 21 of CGST Rules.

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Suggestions for Union Budget 2021

Gst Platform — Wed, 04 Nov 2020 14:38:31 +0000

Suggestions for the upcoming Budget can be submitted by clicking on the link given below .

Last date to submit the suggestions is 07th November 2020.

Major changes in GST is required to make the compliance easier and required proper implementation. Click below

SUBMIT YOUR SUGGESTIONS HERE

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New Provisions in GST one should know

Gst Platform — Sun, 15 Dec 2019 16:27:54 +0000

NEW PROVISIONS IN GST

Gst has undergone various changes since its inception. Some of the important and crucial new provisions in GST are discuss below for the benefits of taxpayers.

New provisions in GST one must know includes changes in Input Tax Credit Rules , Gst Interest calculation , Gst waybill rules, GST Cancellation or suspension and Revocation of canceled GSTIN

GST INPUT TAX CREDIT NEW RULE :

New rule 36(4) was inserted in CGST Rules from 09.10.2019 which prescribes that the Input Tax Credit shall not be allowed fully for invoices not uploaded. Every registered person shall be entitled to Input Tax Credit in respect of eligible invoices uploaded by supplier in GSTR1. In respect of eligible invoices Input Tax Credit shall be capped at 20 % of eligible invoices that had been uploaded in GSTR1.

In simple terms , full input tax credit will be allowed if 83.33% of eligible invoices had been uploaded .

For example – Suppose purchase has booked in accounts for Rs 100000 for Nov 19 and Eligible Input Tax Credit out of such amount is Rs 80000. Invoices uploaded in gstr 1 is only of Rs 50000. Now the itc for Nov 19 will be Rs 50000+20% of 80000 = 66000 instead of Rs 80000. Balance itc will be claimed in the period in which renaming invoices for covering 83.33% of Eligible Itc has been uploaded.

In order to calculate the amount of Input Tax Credit as per new rule , only TAX INVOICES and DEBIT NOTES shall be considered . Tax paid of Reverse charge basis , IGST on imports etc shall not be taken into consideration. Full ITC will be allowed in respect of these invoices .

The cut off date to reconcile the GSTR2A to calculate Input Tax Credit shall be taken as the due date to file GSTR1 by the corresponding supplier.

Also Read : GSTRB FILING SMS FOR NOVEMBER

Also Read : GST REGISTRATION LIMIT

GST INTEREST NEW CALCULATION.

Section 50 of CGST Act deals with the payment of interest on late payment of taxes or wrong utilization of input tax credit. The interest rate for late payment of tax shall be charged @18 % per annumn. The interest rate for wrong availment of itc shall be charged @24% Per annumn.

Earlier the interest was being charged on gross liability without giving the benefit of itc in case of delayed filing of gst returns. After the changes in Gst act , interest will be charged only in the amount debited from cash ledger except in case of Section 73,74.

GST WAYBILL RULES

The GSTIN of the registered person shall be blocked from generating the e waybill in gst portal it two consecutive gst returns has not filed. If the GSTR3B for consecutive two tax periods has not been filed by a registered person then Part A of Gst Ewb 01 will be blocked for such GSTIN . Neither supplier , purchaser or transporter can generate waybill on such GSTIN. To unblock the GSTIN for waybill pending GST Returns must be filed and unblocking will be done by GST Portal

GST SUSPENSION

The period from the date of application for cancellation till the date of cancellation order will be treated as suspended period. During the period for which Gstin was suspended no taxable supply shall be made and no tax shall be collected by such supplier. During suspension period Gst returns is not required to be filed for the gstin which is suspended. The liability upto the date application for cancellation shall remain intact even if gstin was canceled. The amount of tax , interest ,late fee leviable upto such date must be paid. If cancellation is approved then within 90 a final return must be final in Form Gstr-10.

To revoke the canceled gstin by the tax officer , application must be made in REG 21 after filing all the due gst returns. All returns upto the date of filing of revocation application must be filed. Any tax , interest , late fee due on such returns must be paid to get gstin restores by the department.

Gst registration changes.

For taking new gst registration , the bank account details is not required at the time of filing GST REG 01 online. The bank details shall be provided after registration has been granted and after first login. The option to file bank details will be provided as a non core field amendment . Registration can be taken online in GST Portal

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CBIC issued 5 notifications for Date Extension

Gst Platform — Fri, 13 Dec 2019 03:55:11 +0000

The Central Board of Indirect Taxes and Customes has issued five notifications for due date extension in the State of Jammu and Kashmir . To download the notification Click Here

Notification for Date Extension

Watch the Full Video Click Here

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GST DUE DATES IN APRIL2018

Gst Platform — Sat, 24 Mar 2018 14:26:00 +0000

COMPLIANCE CALENDER FOR APRIL 2018

GSTR 1 for Taxpayers having Aggregate Turnover of Upto Rs 1.5 Cr and opted for Quarterly filing of GSTR 1 –

DUE DATE IS 30TH APRIL 2018.

GSTR 1 for Taxpayers having Aggregate Turnover of More than Rs 1.5 Cr and opted for Monthly filing of GSTR 1 –

DUE DATE IS 10TH APRIL 2018

GSTR 4 for Composite Dealers for 4TH Qtr from Jan 2018 – March 2018

DUE DATE IS 18TH APRIL 2018.

GSTR 3B for all the taxpayers for the Month of March 2018

DUE DATE IS 20th APRIL 2018

GST ITC 03 for taxpayers who have shifted from Regular to Composition Scheme from 01.11.2017

DUE TO DECLARE STOCK IN GST ITC 03 AS ON 31.10.2017 IS 29TH APRIL 2018

GST ITC 04 for taxpayers who have sent Inputs / Capital Goods to Job Workers between 01.01.2018 to 31.03.2018

DUE DATE TO FILE GST ITC 04 IS 25th APRIL 2018

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11 amendments in E- Way Bill Rules Effective from 01.04.2018

Gst Platform — Sat, 24 Mar 2018 10:05:00 +0000

Notification No 12/2018 – Change in E-Way Bill Rules1. Transporter on behalf of registered person after taking authorization, may furnish information in part a of form GST EWB 012. Now , e-commerce operator or courier agency can furnish information in part a of form GST EWB 01 , after taking authorization from consignor , if goods are transported through e commerce or courier agency3. Job worker ( if registered) or principal shall generate way bill without any limit . Earlier only principal has the liability to generate the way bill.4. Value of consignment shall exclude the value of exempt supply for determining the limit of 50000. HOW TO DETERMINE THE VALUE OF CONSIGNMENT– The consignment value of goods shall be the value, determined in accordance with the provisions of section 15, declared in an invoice, a bill of supply or a delivery Challan, as the case may be, issued in respect of the said consignment and also includes the central tax, State or Union territory tax, integrated tax and cess charged, if any, in the document and shall exclude the value of exempt supply of goods where the invoice is issued in respect of both exempt and taxable supply of goods. 5. Where the goods are transported by the registered person as a consignor or the recipient of supply as the consignee, whether in his own conveyance or a hired one or a public conveyance (BUS ETC), by road, the said person shall generate the e-way bill in FORM GST EWB-01 electronically on the common portal after furnishing information in Part B of FORM GST EWB-01. 6. If goods are transported by railways or vessels or air , registered person (supplier / recipient) shall generate way bill otherwise goods shall not be delivered in the absence of waybill by the railways.7. If goods are transported from consignor place to transporters place for further transportation and distance is up to 50 km , then way bill is not required – earlier limit was 10 km 8.If goods are transported from transporter place to consignee place and distance is less than 50 km than way bill not required 9. Unique number shall be valid for 15 days instead of 72 hours for updating of part B10. Validity of way bill· Up to 100 km one days in case other than over dimensional cargo· For every 100 km or part one additional day in case other than over dimensional cargo· Up to 20 km one day for over dimensional cargo . For every 20 km or part one additional day for over dimensional cargo 11. Where the goods are being transported up to a distance of twenty kilometers from the place of the business of the consignor to a weighbridge for weightment or from the weighbridge back to the place of the business of the said consignor subject to the condition that the movement of goods is accompanied by a delivery Challan. Issued in accordance with rule 55- No need to generate waybill.

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Uncategorized – GST Platform

GST Return Revision

The Supreme Court (SC) has issued a notice in response to a writ petition filed by Pradeep Kanthed, seeking the Finance Ministry’s response on the absence of an option for revised returns on the GST Portal.

The petitioner argues that the absence of a provision for revised returns on the GST Portal is causing difficulties for GST-registered individuals and dealers, contrary to other revenue laws that typically include such provisions.

The petitioner contends that the lack of this option is illogical and deprives individuals of their fundamental rights. The matter is scheduled for a hearing on January 12.

Return Filing cannot be denied at any cost, says High Court.

Functionality to check and update bank account details.

How to add bank account in GST registration details.

Steps to Update Bank Account Details

Login to the taxpayer portal

Go to ‘Services’

Click on ‘Registration’

Click on the tab ‘Amendment of Registration Non-Core Fields’

Select tab ‘Bank Accounts’

Add details of Bank Account (Account No., IFSC, Address, Bank Account type)

Click on the verification tab, select authorized signatory, enter a place

Sign application using DSC, E-sign or EVC.