जनवरी 2025 से GSTR-1/ GSTR-1A भरना हुआ और कठिन, HSN कोड में दिखाई गयी value को GSTR -1 टेबल 12 से मैच करना होगा

 जनवरी 2025 से, GSTR-1/1A में HSN कोड रिपोर्टिंग का चरण- III लागू किया जाएगा।

1. एचएसएन कोड की मैनुअल प्रविष्टि की अनुमति नहीं दी जाएगी, करदाताओं को ड्रॉपडाउन से कोड का चयन करना आवश्यक है। 

2. रिपोर्ट को B2B और B2C आपूर्ति के लिए दो टैब में विभाजित किया जाएगा, प्रत्येक आपूर्ति मूल्यों और कर राशियों के लिए सत्यापन के अपने स्वयं के सेट के साथ होना जरुरी होगा । 

तालिका-12 के दोनों टैब के लिए आपूर्ति के मूल्यों और उसमें शामिल कर राशि के बारे में सत्यापन भी शुरू किया गया है।  

हालांकि प्रारंभिक अवधि में ये सत्यापन शुरू में चेतावनी के तौर पर होंगे जिसका अर्थ है कि विसंगतियां होने पर भी GSTR-1 फाइलिंग को अआप कर पाएंगे किन्तु आने वाले समय में जबकि ये कंपल्सरी हो जायेंगे तो आप कोई भी विसंगति होने पर GSTR-1& 1A फाइल नहीं कर पाएंगे।   

What will happen if forget to file GSTR-09

Failing to file the GSTR-9 by December 31 attracts late fees and penalties:

• if your aggregate Turnover is up to ₹5 crore:   
  
   ₹50/day (₹25 each under CGST and SGST), Maximum amount up to  0.04% of turnover.


• If your aggregate Turnover is ₹5 crore to ₹20 crore:
  
  
• ₹100/day (₹50 each under CGST and SGST), Maximum amount up to 0.04% of turnover.


• If your aggregate Turnover is above ₹20 crore:
  
  ₹200/day (₹100 each under CGST and SGST), Maximum amount up to 0.50% of turnover.

Late filing also increases scrutiny from tax authorities and can disrupt audit processes.

GST Council Meeting Updates

Recommendations of the 42nd GST Council Meeting

The42nd GST Council meeting

 has been held through video conferencing under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance& States/ UTs. 

The GST Council has made the following recommendations: 

GST taxpayers get relief in implementation of e-invoice

 As per twitter handle of CBIC , One time relaxation has been given in implementation of E-Invoice Provisions for the month of October, 2020. Read  full press release below:-

The last date for furnishing of Annual Return in the FORM GSTR-9 and Reconciliation Statement in FORM GSTR-9C for F.Y. 2018-19

Govt. has further extended the time limit to furnish Annual Return (Form GSTR-9/9A) and Reconciliation Statement (Form GSTR-9C) for the financial year 2018-19 from September 30, 2020 to October 31, 2020.

Notification No. 69/2020 – Central Tax, dated 30-9-2020

Delhi High Court allowed to file Tran-1 but CBIC amended Law to negate the benefit

Delhi High Court allows taxpayers to claim Transitional Credit

Hon’ble Delhi High Court in case of Brand Equity Treaties Limited Vs Union of Indiahas held that period of 90 days for claiming input tax credit in TRAN-1 is directory and therefore, period of limitation of 3 years under the Limitation Act would apply.  ️The Court has directed the Department to allow all assessees to claim input tax credit in TRAN-1 by 30.6.2020.  The direction would apply to all those who could not file TRAN-1 and claim input tax credit. ️The court has further directed that it should be advertised that all taxpayers who have not filed TRAN 1 can do so by 30.6.2020. The judgment has been made applicable to all irrespective of whether the taxpayer has approached the court or not.

EXCESS CREDIT TAKEN OF ITC IN GSTR-3B

How do I rectify if excess Input Tax Credit taken in GSTR 3B?

Excess Input Tax Credit has been availed while filing GSTR 3B in previous year, now found the mistake and want to correct . How can this mistake be corrected.

Deferment of Reporting under clause 30C and clause 44 of Tax Audit Report

The Central Board of Direct Txe has vide Circular No.10 /2020 dated 24th April, 2020 stated that in view of the prevailing situation due to COVID-19 pandemic across the country, the reporting under clause 30C and clause 44 of the Tax Audit Report shall be kept in abeyance till 31 st March, 2021.

Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with Rule 6G of the Income-Tax Rules, 1962 (‘the Rules’) requires specified persons to furnish the Tax Audit Report along with the prescribed particulars in Form No. 3CD. The existing Form No. 3CD was amended vide notification no. GSR 666(E) dated 20th July, 2018 with effect from 20th August, 2018. 

Let us understand the Clause 30C and Clause 44 of the Tax Audit Report.

Implementation of blocking facility of ITC by the GST authorities

CIRCULAR F. NO. 587/CE/167/POL/2019/11219-11269 DATED 13-1-2020

Attention is drawn to the provisions of Rule 86A(1)(a) of the Central Goods and Services Tax Rules, 2017 which empowers the CGST officers to block input tax credit (ITC) under certain circumstances.

Is GST liable on hiring charge of vehicle from one GTA to another GTA

The applicant being a Goods Transport Agency (GTA) wants to be registered under GST. It has sought an advance ruling to determine whether it can provide vehicles used for transportation of goods on hire basis to another GTA?

Be ready to face GST Audit- Department has started issuing GST audit notices to Taxpayers

It's almost close to three years since the roll-out of the biggest indirect tax reform, the Goods and Services Tax (GST). The government has now launched a massive enforcement drive, pan-India with a motive to check tax evasion and re-confirm fake credits. The taxman has started issuing GST audit notices to taxpayers for the first year of the roll-out, i.e. GST FY17-18.

Recommendation of the 38 Meetings of the GST Council

The 38 Meetings of the GST Council met under the Chairmanship of the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today. The meeting was also attended by the Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance. The GST Council recommended the following:

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019

Q 1. Who is eligible to file declaration under the SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019?

Ans. Any person falling under the following categories is eligible, subject to other conditions under the Scheme, to file a declaration:

(a) Who has a show cause notice for duty or one or more appeals arising out of such notice pending and where the final hearing has not taken place as on 30.06.2019.

Waive off of filing of FORM ITC-04 for F.Y. 2017-18 & 2018-19 i.e. details of Job work

As per section 143 of The CGST Act 2017 read with Rule 45 of the CGST Rules 2017 , 

A registered person (i.e.“principal”) may send any inputs or capital goods, without payment of tax, to a job worker for job work and from there subsequently send to another job worker and likewise, and shall bring back inputs, after completion of job work or otherwise, or capital goods, other than moulds and dies, jigs and fixtures, or tools, within one year and three years, respectively, of their being sent out, to any of his place of business, without payment of tax. Subject to condition that it will be informed to tax authority and condition prescribed under rule 45 are fulfilled.

Taxability of GST on Discount

Tax treatment of discount is the most critical area of the discount saga. Discount is generally given by the supplier to boost his sales. Different types of discount prevails in the business like general discount, turnover discount, cash discount etc.

Most preferred and litigation free way of showing discounts is to show the same on the invoice but due to commercial reasons, it may not be possible to show all discounts on the invoice itself and the problem actually starts there.

Tax Authorities does not want to reduce discount from taxable value except when such discount shown in invoice itself while tax payer claim that he has never received the consideration thus it must be reduced. Honourable courts held in many cases that showing discount invoice is not solution to pass discount to customer and arrive the taxable value.

Recently GST wing of CBIC has issued a circular clarifying various issue on discount and its taxability under GST however before going into discussion of circular it would be better to look provisions of CGST Act,2017

Section 15 of the Act deals with valuation of supply in which reference of discount is found under sub section (3) of the said section, which states as under:-

Extension of Due Date for Filing Annual Return & Audit Report Under GST

Restriction on Input Tax Credit-Motor Vehicles-Section 17(5)(a)

Section 17(5) Notwithstanding anything contained in sub-section (1) of section 16 and sub-section (1)

of  section  18,  input  tax  credit shall  not  be  available  in  respect  of  the  following, namely:—

(a)      motor vehicles and other conveyances except when they are used ––

(i)       for making the following taxable supplies, namely: —

(A)     further supply of such vehicles or conveyances ; or

(B)     transportation of passengers; or

(C)     imparting  training  on  driving,  flying,  navigating  such  vehicles  or conveyances;

(ii)      for transportation of goods;

In clause (a) section 17(5) of the Act , restriction has been imposed on input Tax credit relating to motor vehicle ,it means that tax credit of ‘input’ and ‘input service’ both will be restricted.

RESTRICTION OF INPUT TAX CREDIT-Section 17(5)(c) of CGST ACT

“Section 17 (5)    :-        Notwithstanding  anything  contained  in sub-section  (1) of section 16 and subsection (1) of section  18, input  tax credit  shall  not be available  in respect  of the following namely:

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.

.

.

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(c ) works contract services (WCS) when supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service;

(d) goods or services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of business.”

Now question arise whether a works contractor can avail input tax credit for the tax paid on it’s inward supply of goods (i.e. input) or services or it is restricted as per section 17(5) (c) & (d) of the CGST Act,2017?

Can Input Tax Credit of process loss/waste of Input be taken?

Section 17(5) of the Central Goods and Service Tax Act 2017, says that notwithstanding anything contained in section 16(1) or section 18(1), input tax credit shall not be available for certain inputs or input services.

Clause (h) of the said sub-section talk about the input tax credit not available on “goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples”

Now question arise that  whether input tax credit on inputs which has been wasted or lost during manufacturing process or during the production can be said that “goods lost or destroyed and input tax credit would not be available because of section 17(5) (h) of the Act.

As per section 16(1) of the Act very registered person shall be entitled to take input tax credit on any supply of goods or services or both provided such goods or services is used or intended to be used in the course or furtherance of business and such amount of credit is credit to the electronic credit ledger.

TD/TCS provisions effective from 1st October, 2018

TD/TCS provisions effective from 1st October, 2018

The Central Government vide Notification No. 50 /2018 –CT dated 13^th September, 2018 has notified 1^st October, 2018, as the date on which the provisions of section 51 (Tax deducted at source) will be effective with respect to a department of central/state Government, local authority, governmental agencies and notified persons as specified below: