GST News on 22nd Mar 2023
HSN Code Mandatory
As per the notification dated 15th Oct 2020, it is mandatory for taxpayers to report a minimum of six-digit valid HSN code for their outward supplies having AATO of more than 5 crores in any previous financial year. In case valid 6 digit is not available, then a corresponding eight digit HSN code must be reported instead of artificially creating six digit code.
GST News on 12th Jan 2023
New GST rule 88C Introduced
New GST rule 88C introduced in the 48th Meeting of the GST Council will be held on 17th December 2022. The GST Rule 88C was introduced for the purpose of dealing with the mismatch in taxpayer’s liability furnished in GSTR-3B and GSTR-1.
As per the new GST Rule 88C, the taxpayer must furnish the discrepancy in Part A of form GST DRC-01B. He must mention the amount and percentage of the tax liability as per GSTR-1/ IFF that exceeds the tax paid through GSTR-3B.
GST News on 2nd June 2022
Webinar on Audit in GST- A Practical Overview
Webinar on Audit in GST- A Practical Overview on 3rd June 2022 from 3 pm onwards. The session will be hosted in WebEx and participants can join from 2:30 pm onwards.
GST News on 1st June 2022
Addition of 6% tax rate in GSTR-1 online
It may be noted that 6% tax rate has been added in the item details section of all the tables of form GSTR-1, except HSN table 12. In case your outward supplies attracts 6% tax rate, you are required to upload the details against 6% tax rate in the item details section.
In respect to HSN table 12 of form GSTR-1, 6% tax rate shall be added shortly. Meanwhile, you may report the HSN details of supplies attracting 6% tax rate under tax rate 5% by updating the values/tax amounts as per the actual supplies made by you.
GST News on 31st May 2022
GSTR-4 Due Date for FY 2021-22 Extended to 30th June 2022
Late fee for delay in filing Form GSTR-4 for FY 2021-22 has been waived for the period from 01.05.2022 till 30.06.2022. Form GSTR-4 is to be filed by GST taxpayers who have opted for Composition scheme.
GST News on 30th May 2022
Webinar on e-Invoicing in GST
Directorate General of Taxpayer Services, MZU, Mumbai is organizing a webinar on the topic “e-Invoicing in GST” on Monday, May 30, 2022 at 3 PM. Join from the meeting link https://dgts.webex.com/dgts/j.php?MTID=m0c3018fea2dc528f443a12ccad712f99… Join by meeting number Meeting No. : 2515 415 6806 Meeting password: dgtps
GST News on 27th May 2022
Last date to make GST payment under QRMP scheme
The last date to deposit due tax liability for April 2022 by using Form/Challan PMT-06 was extended to 27th May 2022.