Summary of GST Advisory on Archival of GST Returns data on GST portal GST Advisory has been issued on Archival of GST Returns data on GST portal dated 24-09-2024. The Government has introduced archival policy related to data retention on GST Portal. From 01-10-2024 as per new rule by the Notification No 28/2023, taxpayers will … Read more
Frequently Asked Questions on IMS GST Advisory has been issued on Frequently Asked Questions on IMS dated 22-09-2024.This contains guidelines to establish the invoice Management system on the Portal which is applicable from 01-10-2024.It shall be available to the taxpayers for taking actins on the received invoices/records from 14-10-2024 onwards. This system helps make matching … Read more
Summary of Invoice Management System User Manual The Government has issued GST Advisory on Invoice Management System User Manual dated 17-09-2024. Earlier Government has issued GST Advisory for the introduction of Invoice Management System on GST portal to match own records and invoices with those provided by their Suppliers.This matching process is very important to … Read more
Summary of GST Advisory for Reporting ITC Reversal Opening Balance GST Advisory has been issued by government for Reporting ITC Reversal Opening Balance.The Government has previosusly issued a GST Advisory announcing the introduction of the electronic credit ledger and reclaimed statement on the GST Portal. This allows taxpayers to report their ITC reversal, including the … Read more
Summary of the GST Advisory on Registration Process Aadhaar authentication and Document verification for registration in Bihar, Delhi, Karnataka and Punjab GST Advisory on Registration Process Aadhaar authentication, Document verification for registration in Bihar, Delhi, Karnataka and Punjab.The new facility has been provided for booking an appointment to visit a GST Suvidha Kendra (GSK) for … Read more
Summary of the GST Advisory for Reporting of Supplies to Unregistered dealers in GSTR-1/GSTR-5 The Government has issued GST Advisory for Reporting of Supplies to Unregistered dealers in GSTR-1/GSTR-5 on 03-09-2024. As the facility of reporting sales with reduced value of Rs.1 lacs for B2CL transactions in GSTR-1 and GSTR-5 are not available on the … Read more
Summary of the GST Advisory on Invoice Management System Introduction of New functionality called Invoice Management System on the GST Portal for easily handling of corrections and amendment of the invoices issued by the supplier. GST Advisory has been issued on Invoice Management System on 03-09-2024.This functionality further helps taxpayer by matching their records with … Read more
Summary of the GST Advisory on Biometric-based Aadhaar authentication, Physical verification for registration in Dadra and Nagar Haveli and Daman and Diu and Chandigarh. GSTN has issued advisory on Biometric-based Aadhaar authentication, Physical verification for registration in Dadra and Nagar Haveli and Daman and Diu and Chandigarh.The new facility has been provided for booking an … Read more
Summary of Introduction of RCM Liability/ITC Statement Government has Introduced new feature called RCM Liability/ITC Statement to help the taxpayer for accurately reporting of transactions under the RCM.This statement is designed to improve the accuracy and transparency of RCM Transactions. It does so by capturing the RCM liability reported in Table 3.1(d) of the GSTR-3B … Read more
Summary of the GST Advisory on furnishing bank account details before filling GSTR-1/IFF. The Government has issued GST Advisory on furnishing bank account details before filling GSTR-1/IFF. From 1st September,2024 onwards for the tax period August-2024 onwards, Taxpayer will not be able to file GSTR-1 or IFF without submitting valid bank account details on the … Read more