GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI

The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI can be made through Kotak Mahindra Bank, irrespective of the CC/DC issued by any Indian bank. Other banks...

GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI

The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI can be made through Kotak Mahindra Bank, irrespective of the CC/DC issued by any Indian bank. Other banks...

GSTN Issues Advisory On Compliance Pertaining To Difference In ITC Available In GSTR-2B & ITC Claimed In GSTR-R3B

The Goods and Service Tax Network (GSTN) has issued the advisory in respect of introduction of compliance pertaining to DRC-01C (Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B).The Government inserted the Rule 88D in CGST Rule, 2017 dealing with difference in input tax credit available in GSTR-2B and ITC availed in GSTR-3B. The functionality has now started operating on the GST portal.The system now compares the ITC available as per GSTR-2B/2BQ with...

GSTN Introduces Electronic Credit Reversal And Reclaimed Statement

The Goods and Service Tax Network (GSTN) has introduced the Electronic Credit Reversal and Reclaimed Statement.The government introduced certain changes in Table 4 of Form GSTR-3B so as to enable the taxpayers to report correct information regarding ITC availed, ITC reversal, ITC reclaimed, and ineligible ITC. The re-claimable ITC earlier reversed in Table 4(B)2 may be subsequently claimed in Table 4(A)5 on fulfilment of the necessary conditions. The reclaimed ITC in Table 4(A)5 also needs to be...

GSTN Notifies Advisory On GST Registration Application Marked For Biometric-Based Aadhaar Authentication

The Goods and Service Tax Network (GSTN) has notified the advisory for applicants where a GST registration application is marked for Biometric-based Aadhaar Authentication.Rule 8 of CGST Rules has been amended to provide that those applicants who had opted for authentication of their Aadhaar number and identified on the common portal, based on data analysis and risk parameters, shall be placed for biometric-based Aadhaar authentication and taking photographs of the applicant.Pilot implementation...

GSTN Launches Reward Scheme, “Mera Bill Mera Adhikar” Mobile App

The Goods and Service Tax Network (GSTN) has notified the GST reward scheme, the “Mera Bill Mera Adhikar” mobile app.This plan aims to promote the custom of consumers requesting receipts and invoices for all purchases. The scheme's goal is to shift people's cultural and behavioural perceptions of asking for a bill as a right and entitlement.This scheme will be implemented from 1st September 2023 initially in the States of Gujarat, Assam, Haryana and UTs of Puducherry and Daman & Diu and...

GSTN Introduces New Functionality Of E-Invoice Exemption Declaration Functionality For Business Facilitation

The Goods and Service Tax Network (GSTN) has introduced the new functionality of e-invoice exemption declaration for business facilitation.The functionality is specifically designed for taxpayers who are by default enabled for e-invoicing but are exempt from implementing it under the CGST (Central Goods and Services Tax) Rules.The e-Invoice Exemption Declaration functionality is voluntary and can be accessed at the e-Invoice portal.The functionality is applicable to taxpayers who are exempt from...

GSTN Notifies Deferment Of The Implementation Of Time Limit On Reporting Old E-Invoices

The Goods and Service Tax Network (GSTN) has notified the deferment of the implementation of a time limit on reporting old e-invoices.“It has been decided by the competent authority to defer the imposition of a time limit of 7 days on reporting old e-invoices on the e-invoice IRP portals for taxpayers with aggregate turnover greater than or equal to 100 crores by three months,” the GSTN said.The Government is to impose a time limit on reporting old invoices on the e-invoice IRP portals for...

Functionality For Bank Account Validation Is Now Integrated With The GST System: GSTN

The Goods and Service Tax Network (GSTN) has issued an advisory on bank account validation.The functionality for bank account validation is now integrated with the GST system.The feature is introduced to ensure that the bank accounts provided by the taxpayer are correct.The bank account validation status can be seen under the Dashboard→My Profile→Bank Account Status tab in the FO portal.The taxpayer will also receive the bank account status details via registered email and mobile number...

Dealers, Applying For Government Tenders To Verify GSTIN Status Through Peridot App: Jammu & Kashmir Govt.

The Finance Department of Jammu and Kashmir has issued a circular directing the dealers or contractors applying for government tenders to verify their GSTIN status and authenticate their GST return through the Peridot App.The government stated that dealers and contractors whose GSTINs have been canceled or deactivated are applying for government tenders with the submission of fake or forged GST returns. This occurs because tender-inviting departments do not cross-check tenderer documents with...

GSTN Issues Advisory On Taxpayers Facing Issue In Filing GSTR-3B

The Goods and Service Tax Networks (GSTN) has issued an advisory on taxpayers facing issues in filing GSTR-3B.The filing of TRAN forms was made available for aggrieved taxpayers between 01.10.2022 and 30.11.2022, in accordance with the Supreme Court's directive.It has been noted that a small number of taxpayers have started the filing process for TRAN forms on the portal but have not finished it within the allotted time. The only step that required an e-sign was filing after submitting the Tran...

GSTN Issued Advisory On Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns

The Goods and Service Tax Network (GSTN) has issued an advisory on the facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns.On the GST Portal, a feature known as "Automated Drop Proceedings" has recently been introduced for GSTINs that have been suspended because returns have not been filed.For taxpayers who have submitted their pending returns, such as their six-month or two quarterly returns, the functionality is available.The system will automatically end...