Skip to main content

GST Update

By
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. Ananya Mishra1:29 pm, October 02, 2021

    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

    ReplyDelete

Post a Comment

Popular posts from this blog

CBDT Instruction No 5/2014 dated 10.07.2014

By
Dear Members,   The Hon'ble CBDT has issued Instruction No 5/2014 dated  10.07.2014 , by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised.   The New limits are:                                  Tax effect Appeal before ITAT                                Rs.  4,00,000/- High Court                                               Rs. 10,00,000/- Supreme Court                                        Rs. 25,00,000/-   Copy of Instruction is attached for your information.
Post a Comment
Read more

DUE DATE FOR FILING INCOME TAX RETURNS EXTENDED

By
    LAST DATE FOR FILING INCOME TAX RETURN FOR NON-AUDIT and salary returns for AY 2013-14 EXTENDED The CBDT has issued a Press Release stating that the due date for filing of returns u/s 139(1) of the Income-tax Act, 1961 is extended to August 5, 2013 TEXT OF THE PRESS RELEASE PRESS INFORMATION BUREAU GOVERNMENT OF INDIA AS A MEASURE OF TAXPAYERS CONVENIENCE, LAST DATE OF FILING OF RETURNS EXTENDED TO 5TH AUGUST, 2013 New Delhi: July 31, 2013 Shravana 9, 1935 There is an unprecedented surge in number of returns being e-filed during this year. 92.03 lakh returns have been e-filed up to 30th July, 2013 which is 46.8 % higher than the returns e-filed during the corresponding period of the last fiscal year. Due to large number of taxpayers accessing e-filing website on due date of filing, some cases of taxpayers not being able to access the e-filing portal have been reported. These problems are primarily due to network constrains of the local int...
Post a Comment
Read more

GST - Electronic invoicing (E Invoicing) made mandatory

By
E-invoice has been made mandatory for taxpayers having turnover exceeding 10 crores from 1st October, 2022: Notification 17/2022 Central Tax dtd 01/08/2022 It implies that any registered person whose aggregate turnover in any preceding financial year from FY 2017-18 onwards has exceeded Rs 10 Crore shall issue E-invoice w.e.f 1st October 2022 . -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM
Post a Comment
Read more