Advisory for Waiver Scheme under Section 128A

1.    Taxpayer’s attention is invited to the advisory on the above subject issued by GSTN on 29.12.2024. The link for the said advisory is given here:

https://services.gst.gov.in/services/advisoryandreleases/read/564

2.    It is to inform that both Forms GST SPL 01 and GST SPL 02 are available in the GST portal and the taxpayers are advised to file applications under waiver scheme.

3.    One of the eligible conditions for filing application under waiver scheme is to withdraw the appeal applications filed against the demand order/notice/statement for which waiver application is to be submitted. In this regard, it is to inform that for the appeal applications (APL 01) filed before First Appellate authority, withdrawal option is already available in the GST portal. However, for the appeal applications (APL 01) filed before 21.03.2023, withdrawal option is not available in GST portal. For such cases, the taxpayers are advised to submit their request for withdrawal of appeal applications to the concerned Appellate Authority. The Appellate authority will forward such requests to GSTN through State Nodal officer for withdrawal of such appeal applications (i.e. filed before 21.03.2023 and not disposed off) from backend.

4.    Difficulty if any faced by the taxpayers may be reported to https://selfservice.gstsystem.in by raising a ticket under category “Issues related to Waiver Scheme”.

Thanks,
Team GSTN

Back

Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1A

 After successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025. In this phase manual entry of HSN has been replaced by choosing correct HSN from given Drop down. Also, Table-12 has been bifurcated into two tabs namely B2B and B2C, to report these supplies separately. Further, validation regarding values of the supplies and tax amounts involved in the same, have also been introduced for both the tabs of Table-12. However in initial period these validations have been kept in warning mode only, which means failing the validation will not be a blocker for filling of GSTR-1& 1A. To view the detailed advisory please click here

Thanking You,
Team GSTN

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.

How to change Company name in India | How to Change Your Company Name |

A business may decide to rebrand for a variety of tactical reasons. Aligning the company's branding with its changing business goals, which take into account adjustments to its offerings, services, or target market, is one common goal. A merger, acquisition, or reorganization may also call for a name change, which would indicate a change in ownership or corporate identity. Important legal goals, like avoiding trademark conflicts or adhering to regulatory requirements, can be achieved by changing one's name. For whatever reason, renaming a business can be a proactive move toward reviving its reputation, bolstering its market position, and adjusting to shifting market conditions. 

Let's examine the necessary conditions and steps involved in achieving this:-