Skip to main content

GSTR-3B linked with GSTR-1 to make filing easier

The GSTN has notified that filing of GSTR-3B has been made much easier now. System computed GSTR-3B (Table-3 for liabilities) on the basis of GSTR-1 filed by taxpayers is now available on the GST portal for monthly GSTR-1 filers. The GSTN also notified on the following points: 


1. The system will compute and generate PDF mentioning liability, few minutes after monthly GSTR-1 has been filed.

2. The facility is currently available for monthly filers and not for quarterly GSTR-1 filers. It will also be available for quarterly GSTR-1 filers in due course.

3. The statement will show details of eligible/ineligible credits and reversals required thereof based on GSTR-1, 5 and 6 furnished by vendors/ISD and from ICEGATE, however the same is only recommendatory and not necessarily binding on tax payers.





Comments

Popular posts from this blog

नया ITR-3 फॉर्म FY 2024-25 के लिए जारी – सभी Taxpayers को जानना ज़रूरी

नया ITR-3 फॉर्म FY 2024-25 के लिए जारी – सभी Taxpayers को जानना ज़रूरी Income Tax Department ने Financial Year 2024-25 (Assessment Year 2025-26) के लिए नया  ITR-3 फॉर्म  जारी कर दिया है। यह फॉर्म उन  individuals और Hindu Undivided Families (HUFs)  के लिए होता है जिनकी आय  Business या Profession  से होती है, और जो Presumptive Taxation Scheme का विकल्प नहीं चुनते हैं। इस बार कई बदलाव शामिल किए गए हैं, जिनका उद्देश्य Return Filing को  सटीक, सरल और तकनीकी रूप से अपडेटेड  बनाना है। 1. Assets और Liabilities की Reporting का Threshold ₹50 लाख से बढ़कर ₹1 करोड़ पहले क्या था:  यदि आपकी Taxable Income ₹50 लाख से ज़्यादा होती थी, तो आपको अपनी  Net Worth  दिखानी होती थी — यानी कि आपने कितनी संपत्ति अर्जित की है (जैसे – मकान, ज़मीन, गहने, वाहन) और कितनी देनदारी है (लोन, उधार इत्यादि)। यह जानकारी Balance Sheet में दी जाती थी। अब क्या हुआ:  FY 2024-25 से यह सीमा ₹1 करोड़ कर दी गई है। यानी अब सिर्फ उन्हें ही अपनी Assets और Liabilities की जानकार...

ITR filing deadline for FY21 extended to December 31, 2021

  T he government on Thursday extended the deadline to file income tax return (ITR) for FY 2020-21 for most individuals from the earlier deadline of September 30, 2021, to December 31, 2021. The extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable. The income tax return (ITR) filing deadline for FY 2020-21 for individuals has already been extended, from the normal deadline of July 31, 2021. However, the new  income tax e-filing  portal has been marred by glitches and other problems from inception. Finance minister Nirmala Sitharaman has given Infosys, the company which set up the new income tax portal, time till September 15, 2021 to fix all the problems. Last year too, the government has extended the due date of filing ITR for individuals four times – first from July 31 to November 30, 2020, then to December 31, 2020, and finally to ...

GST Network brought under Anti-Money Laundering law to plug tax evasion

Notified the exchange of information between ED and GSTN under the Prevention of Money Laundering Act, 2002 (PMLA) to help in such kind of investigations. Aiming to plug tax evasion through fake billing, Centre has brought the GST Network (GSTN) under the purview of Prevention of Money Laundering Act (PMLA). This will give more power to the Enforcement Directorate (ED), the anti-money laundering agency, to act against tax evasion within GSTN. The government, through a gazette notification, notified the exchange of information between ED and GSTN under the Prevention of Money Laundering Act, 2002 (PMLA) to help in such kind of investigations.   T he Ministry of Finance, Department of Revenue, has issued a significant notification, including the Goods and Services Tax Network (GSTN) under the provisions of the Prevention of Money-laundering Act, 2002 (PMLA, 2002).    This inclusion allows the Enforcement Directorate (ED) to share relevant information or material wit...