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

Summary of Rate of TCS under GST for E-commerce operator reduced to 0.5%: With effect from 10-07-2024 ,the GST Council has decided to reduced rate of TCS under GST from 1% (0.5% CGST+0.5% SGST/UTGST, or 1% IGST) to 0.5% (0.25% CGST & 0.25% SGST/UTGST, or 0.5% IGST) as per Notification No.15/2024 dated 10-07-2024.Additionally,some taxpayers have … Read more

Summary of the GST Advisory on aadhaar authentication and document verification for registration in Jammu kashmir and west bengal. Government has issued GST Advisory on aadhaar authentiacation and document verification for GST Registation applicants of Jammu and Kashmir and west bengal on 02-08-2024. A new functionality for GST Registration process regarding biometric based aadhar authentication … Read more

Government has issued New GST Advisory on GST Refund of tax paid on Inward supply of goods by Canteen Store Department (FORM GST RFD 10A). In reference to Circular No. 227/21/2024-GST issued by GST policy wing, CBIC on 11th July, 2024 for online processing of refund applications filed by Canteen Stores Department (CSD), GSTN has developed an … Read more

GSTN wish to inform that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals. These portals run in parallel and now allow for seamlessly inter-operations. The highlights of the portal are as follows: (https://einvoice1.gst.gov.in and https://einvoice2.gst.gov.in) i. Both the portals (NIC-IRP 1 & … Read more