INTRODUCTION OF FORM GSTR-2B Goods and Service Tax Network (GSTIN) recently launched Form GSTR-2B i.e. an auto drafted input tax credit statement, for linking the existing returns with respect to input tax credit and for curbing tax evasion. How GSTR-2B generated on the portal: It…
About GSTR-2B | (Auto drafted ITC Statement) GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor). It…
Data for Import of Goods GSTR-2A Taxpayers can now view their bill of entries data which is received by the GST System (GSTN) from Indian Customs Electronic Gateway (ICEGATE) System (Customs). Two new tables have been inserted in GSTR-2A for displaying details of Import of…
ABOUT PROCESS Provisions relating to Aadhaar authentication for the purposes of grant of registrations to new GST registrants was approved in the 39th GST Council meeting held on March 14, 2020. However, the implementation of the same was postponed considering the lockdown situation on account…
BACKGROUND Audit under indirect tax laws is not a new concept. This concept of audit was also existing in the erstwhile Central Excise laws, State level VAT laws and Service tax laws. Audit is a tool available to the tax department to review and verify…
Full Text of the Notification "In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of September, 2020, as the date on which the provisions…
NOTIFICATIONS CGST Rules, 2017 have been amended to provide for physical verification of business premises for grant of registration where Aadhaar number is not authenticated Amendments have been made in Rule 8, Rule 9 and Rule 25 of the CGST Rules, 2017 to bring in…
About Table 8A Table 8A of Form GSTR 9 is populated on basis of documents in filed Form GSTR-1 or Form GSTR-5 of the supplier. Thus, all documents which are present in GSTR-2A (Table 3 & 5), will not be available here, as documents which are in…