Analysing the GST compliance trend of taxpayers, it is observed that the percentage of filing for GSTR 3B is higher than GSTR 1.
The new returns shall introduce new and simplified forms GST Ret 1, Ret 2 and Ret 3 along with annexure form GST Anx 1 and Anx 2.
On 13th Dec 2019, Government notified the e-invoicing rules, its applicability and date from when the notified rules will be effective. In all there were 5 notifications and a summary of notifications.
Here are the major of updates from the month of November: CBIC Issues GSTR 3A Notice in Bulk for Non-Filers,Robots to Check Tax Evasion in India,Clarification on the scope of 'Job-work' services,6% rise in GST Collection
Ahead of GSTR3B due date of , CBIC has resolved queries on provisional ITC @ 20% through Circular No. 123/42/2019-GST but still the ambiguity persist.
With an aim to provide taxpayer with a user-friendly and seamless compliance journey, the following GST updates have been on the GST portal / GSTN Portal.
The 36th GST Council Meeting was held on 27th July 2019 with the prime agenda being – reduction of GST rates applicable on Electric Vehicles.
Under the Simplified Returns regime, a taxpayers may notice the below-given 5 key changes in the return filing system
CBIC vide Circular No. 105/24/2019-GST dated June 28, 2019, has clarified that the treatment of tax in cases of secondary discounts or post-sales discount under GST regimes for the purpose of determination of the value of supply.
Although the due date to file the annual return forms has been extended to August 31, 2019, the confusion among the taxpayers is yet to be settled.
