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GST Update

GST Update: Advisory On Reconciliation Statement (GSTR-9C):

GSTR-9C Reconciliation statement to be filed in Form GSTR-9C requires the tax rate-wise declaration of transactions for the concerned financial year. In the said form, tax amount pertaining to tax rates 1%, 1.5%, and 7.5% in section III (table 9 and 11) and section V may be made in the row/ under label 'Others' of the said tables, wherever applicable.


GST Update: CBIC provides facilitation for exporters having IGST refund issues.
Source: The New Indian Express

CBIC takes steps to facilitate exporters' refund sanction

The CBIC has extended the facility for resolving invoice mismatch errors through customs officer interface on permanent basis.

By PTI

NEW DELHI: The CBIC has extended the time limit for sanction of pending IGST refunds to exporters where records have not been transmitted to customs department due to mismatch in IGST returns.

The finance ministry on Monday said that this would help overcome the problem of refund blockage by allowing refunds subject to undertakings/submission of CA certificates by the exporters and post refund audit scrutiny.

"The Central Board of Indirect Taxes and Customs (CBIC) has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE (Indian Customs Electronic Commerce Gateway) due to GSTR1 and GSTR3B mismatch error," the ministry said in a statement.

This would be applicable to all shipping bills filed upto March 31.

The CBIC has also extended the facility for resolving invoice mismatch errors through customs officer interface on permanent basis.

Earlier this facility was provided for a limited period i.e. in respect of shipping bills filed up to December 31, 2019.

The exporter may avail the facility of correction of Invoice mismatch errors in respect of all past shipping bills, irrespective of its date of filing subject to payment of a nominal fee.

"It is seen that a considerable number of exporters have been facing difficulties in getting their IGST refund sanctioned either due to lack of facility to amend GST 3B return or bona-fide clerical/human errors while filing the documents," the ministry said, adding these steps would resolve all such pending IGST refund claims of exporters.

--
CA Yashu Goel
9899263490
M/s N.K. Goel & Bros.
Chartered Accountants

Comments

  1. A GST audit is an appraisal of related records to ensure that they are in conformity with appropriate laws. A GST audit , on the other hand, authorizes the accuracy of a taxpayer's tax declarations, payments, refunds, and input tax credits claimed in line with GST legislation. Please call +91 8929218091

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