Latest GST Advisories on Payments, e-Invoicing, Composition Scheme & Fake Summons

The GSTN, the common portal for GST, keeps issuing advisories regarding updates and new functions aimed at enhancing the portal’s capabilities. These updates include upgrades to existing functionalities and the introduction of new options for implementation by taxpayers.

Over the last few weeks, GSTN has released the following advisories to maintain compliance:

GST update on payment with cards
Advisory on GST E-Invoicing: Launch of Enhanced einvoice.gst.gov. Portal
Option for Composition Scheme for FY 2024-25
Fake GST Summons

GST Update on Card Payments

The portal has introduced an update allowing taxpayers to make GST payments through Credit and Debit Cards.
To use this feature, taxpayers must opt for the E-payment option and scroll to the section for Credit or Debit Card payments.
GSTN has added four new states: Jharkhand, Karnataka, Rajasthan, and Tripura.
Taxpayers need to review associated transaction charges with each payment method, when choosing Credit Cards, Debit Cards, or Bhim UPI sub-payment modes.
The updated list of states includes Assam, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha, Jharkhand, Karnataka, Rajasthan, and Tripura.
This is applicable for all Credit/Debit cards powered by Master Card, Rupay, Visa, and Diners, currently facilitated via Kotak Mahindra Bank and DCB Bank Limited.

GST Update on e-Invoicing & Initiatives

The GSTN has launched the revamped e-invoice master information portal https:einvoice.gst.gov.in, offering the following features:

PAN-Based Search: Now users can check the status of their e-invoice enablement using PAN along with GSTIN.
Local Search Option: Now enhanced search functionality is available within advisory, FAQ, manual, and other sections for localized search results.
Automatic E-invoice Exemption List: The revamped portal enables users to download the updated list of all GSTINs that have filed for e-invoice exemption automatically.
Modified Website Policy: The website policy details have been updated, covering pointers like the website archival policy, web information manager details and content management & moderation policy.
Updated Advisory and FAQ Section: The information available on the portal is now organized year-wise and month-wise, providing better guidance.
Daily IRN Data Count: Users can access statistics on the daily generation count of Invoice Reference Numbers (IRN).
Across Portal Search Bar: A search tab is provided for quick access to information across the portal.
Customized Section on Mobile App: The portal includes a dedicated section providing information and support for the e-invoice QR Code Verifier app.
Enhanced Compliance and UI/UX: Improved features like text resizing buttons, contrast adjustment, and screen reader support are available now.

GST Update on e-Invoicing Initiatives

The GSTN has introduced an internal e-invoice comprehensive health dashboard to improve e-Invoice ecosystem tracking. Here are the following initiatives:

Extension of IRP Portals: GSTN currently operates six IRP portals via its partners, operating alongside the centralized de-duplication system.
Auto Population of E-Invoices in GSTR-1 on Hourly Basis: GSTN is working with NIC-IRP to allow auto-population of e-invoices in GSTR-1 reported on the NIC-IRP 1&2 portal on an hourly basis.
E-Invoicing Reporting Accessibility: An eligible taxpayer can now report e-invoices via any of these six IRP portals, via APIs, or through a mobile app.
E-Invoice Download Option: Via the e-invoice portals and G2B APIs, now buyers and sellers can download their e-invoices for the past six months.
E-Invoice QR Code Verifier App: For verification of e-invoices, GSTN has designed an e-invoice QR code verifier app along with search IRN functionality.

GST Update for Composition Scheme for FY 2024-2025

Taxpayers must opt for the Composition scheme for FY 2024-25 latest by 31st March 2024. One should note that the last date for composition scheme renewal for the next FY is 31st of March every year.
The GSTN has issued an update stating that taxpayers may opt for the Composition Scheme for the FY 2024-25 by accessing the GSTN Portal.
The facility shall remain open until March 31, 2024.
To opt for the Composition Scheme, taxpayers are required to navigate to ‘Services -> Registration -> Application to Opt for Composition Levy’ and file Form CMP-02.

CBIC Update on Fake GST Summons

Taxpayers have been cautioned by CBIC against fraudsters who issue fake GST summons and have urged them to verify whether or not the communication received from GST authorities is authentic.
Due to the presence of Document Identification Number (DIN), taxpayers may fail to verify the authenticity of fake summons. However, such DIN numbers are not issued by DGGI.
DGGI is undertaking steps to address this issue, informing, and filing complaints with the police.
Via the ‘VERIFY CBIC-DIN’ window on CBIC’s website or the DIN Utility Search on the Directorate of Data Management’s online portal, taxpayers can verify the veracity of any communication, including summons.
Taxpayers can report any suspicious or fake summons to the jurisdictional DGGI/CBIC office.

Businesses and taxpayers must stay updated with the latest advisories from GSTN considering all the crucial aspects regarding GST compliance and portal functionalities. These advisories encompass everything from e-invoicing enhancements to payment options and offer cautionary guidance against fake happenings. Staying abreast of these advisories is paramount for seamless compliance with GST regulations and to stay protected against the possible dangers associated with fraudulent activities.

Stay informed, stay compliant, and protect your business interests with timely updates from GSTN!