GST Tip – 330

In GSTR Р3B, the tax implications on the credit notes, debit notes & purchases from unregistered dealers which are falling under RCM have to be reported and paid, in case of f the taxpayer has missed all these documents, they can upload the same in GSTR Р1 and GSTR Р2 and this will automatically get updated in the GSTR Р3 and the tax liability can be settled and be GST compliant.

GST Tip – 329

If a taxpayer has missed any outward supplies or inward supplies invoices amounts while filing GSTR – 3B, those invoices can be included in the GSTR – 1 and GSTR – 2 and the output liability and input tax credit will be considered in the GSTR – 3 and if any amount is payable the same can be paid. As there is no edit option available for GSTR – 3B, this approach can be taken and be tax compliant.

System based reconciliation of information furnished in FORM GSTR-1 and FORM GSTR-2 with FORM GSTR-3B

Technology is a game changer and now we are seeing the usage of technology in GST and it looks like GST is a marriage between tax and technology ūüėČ

System based reconciliation of information furnished in FORM GSTR-1 and FORM GSTR-2 with FORM GSTR-3B and the details are given in the given Circular

 

Circular 7_7_2017

Last Date for Payment of Gst and Filing of Return For July 2017 Extended By 5 Days

The GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017.
Earlier the last date for payment of taxes and filing of GST Return in Form 3B for the month of July was kept as 20th of August 2017.  Since it is the first Return to be filed under GST, the tax payers and the tax practitioners have requested for few more days to file their Return.  Also there have been requests from States which are hit with floods to extend the last date for filing of GST Returns.  The State of Jammu & Kashmir has also requested for extension of time because of late passing of their GST Ordinance. Some technical glitches are also experienced by last minute return filers.
It has been specified that for those tax payers, who do not want to avail of transitional credit in TRANS1 this month, the date for return filing will be 25th August 2017.  And for those who want to fill up TRANS1 this month, the last date for filing of returns will be 28th August 2017, as announced earlier. In order not to face any last moment technological difficulty in submission of return, all tax payers are requested to kindly file their return well before 25th / 28th of August 2017 and not wait for the last date. Suitable notification is being issued shortly.
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DSM/SBS
(Release ID :170103)

Notification No. 23/2017 ‚Äď Central Tax – for extension of filing of GSTR – 3B return

G.S.R. ( )E.:- In exercise of the powers conferred by section 168 of the Central Goods and
Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as “the said
Act‚ÄĚ) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017
(hereafter in this notification referred to as ‚Äúthe said Rules‚ÄĚ) and notification No. 21/2017-¬†Central Tax dated 08th August, 2017 published in the Gazette of India, Extraordinary, Part II,¬†Section 3, Sub-section (i) vide G.S.R. number 997 (E), dated the 08th August, 2017, the¬†Commissioner, on the recommendations of the Council, hereby specifies the conditions in¬†column (4) of the Table below, for furnishing the return in FORM GSTR-3B electronically¬†through the common portal for the month of July, 2017, for such class of registered persons¬†as mentioned in the corresponding entry in column (2) of the said Table, by the date specified¬†in the corresponding entry in column (3) of the said Table, namely:-

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