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A PDF statement has been made available to taxpayers, filing monthly GSTR-1 statement, with system computed values of Table 3 of Form GSTR-3B. This PDF will be prepared on the basis of the values reported by them, in their GSTR-1 statement, for the said tax period. Note: This facility will also be provided to quarterly GSTR-1 filers in due course of time. This PDF will be available on their GSTR-3B dashboard, from tax period of August 2020 onwards, containing the information of GSTR-1 filed by them on or after 4th September 2020. This will make filing of their Form GSTR-3B easier for them. This facility is provided to all taxpayers registered as a Normal taxpayer, SEZ Developer, SEZ unit and casual taxpayer. Tables of Form GSTR 3B will be Auto-Drafted in PDF statement : Following Tables of Form GSTR-3B will be auto drafted, on basis of values reported in GSTR-1 statement, for the said period: 3.1(a) - Outward taxable supplies (other than zero rated, nil rated and exempted) 3.1(b) - Ou...

Covid-19 Pandemic is being dubbed as the worst disaster of this century so far which has resulted in forced lock down measures across the globe. Every business sector barring few have been affected by this Pandemic causing a serious dent in their cash flows and profits. In India, Central Government forced the nationwide lock down on 24th March. However,various relief to businesses were announced by government as part of their AatmaNirbhar (Self-Reliant) Bharat (India). On similar lines, CBIC (Central Board of Indirect Taxes & Customs) has announced relief measures pertaining to GST law and compliance to help businesses. These relief measures range from Relaxations & Extensions in Return Filing as well as regarding applicability of certain provisions under GST Law.This article covers all such measures in detail. Relaxations & Extensions given in Filing Dates of GSTR-3B (Notification No.54/2020-CT dated 24th June 2020) For Taxpayers having Aggregate Turnover > Rs.5 Cr in ...

The Central Board of Indirect Taxes & Customs (CBIC) vide its notification no.46/2020-Central Tax dated 9th June 2020 has extended the Order for rejection of refund claims of GST under section 54 of CGST Act,2017 in wake of Covid-19 pandemic. Section 54 of CGST Act,2017 prescribes various kinds of refunds that a taxpayer can claim under the GST Act. Some of the Examples would be a refund of unutilised Input Tax Credit in case of Outward Supplies being Exports or zero-rated supplies to SEZ etc. As per section 54(5) read with section 54(7) of CGST Act,2017, Order of refund in full or part as per the satisfaction of officer shall be issued within sixty days of the receipt of the complete application of refund in all aspects. The Order of rejection of refund in part of in full can be issued as well if the proper officer is not satisfied with the refund application by the registered person. However, opportunity of being heard shall be given to the registered person via show-cause notic...

The Central Board of Indirect Taxes and Customs( CBIC ) has issued a clarification on 10th June 2020 in respect of the issues relating to refund of accumulated Input Tax Credit( ITC ) in respect of Invoices whose details are not reflected in the FORM GSTR-2A. CBIC vide circulars no.125/44/2019-GST dated 18th November 2019 held that ITC in respect of invoices not reflected in FORM GSTR-2A was admissible and copies of such invoices were required to be uploaded. However, Notification no.49/2019-CT dated 9th October 2019 inserted a rule 36(4)  and restricted the claim of provisional ITC to the extent of 20% of the eligible credit available in FORM GSTR-2A, due to which field officers were apprehensive of the claim of refund of ITC of invoices which were not reflected in FORM GSTR-2A. For E.g., The said notification stated that if a company has invoices of ITC amounting to Rs.100 and its GSTR-2A reflects the balance of Rs.80 then the company could claim ITC worth Rs.96 (120% of Rs.80....