NILESH SHINGALA

In one of the FAQ’s recently released by GST@GOI, it was mentioned that interstate supply of service is taxable and mandatory registration has to be taken. Initially, the law provided that mandatory registration has to be taken in case interstate supply of services is being made, irrespective of the turnover but in 22nd GST Council meeting it was…[Read more]

Net ITC is the Input Tax Credit availed by the Taxpayer in his ITC Ledger during the month or the period for which refund is sought for. It is the amount of ITC taken by the taxpayer through Table 4 of his GSTR3B return of the tax period refund is sought for.

Question – One of the most common asked question these days is that we have missed one purchase/sales invoice in the current month’s GSTR-3B. Can we show it in subsequent month’s GSTR-3B Return?

Answer – Government has enabled GSTR3B revision facility for submitted but not filed a return and it is being expected that soon the revision…[Read more]

Question – I have filled the GSTR 3B but missed one sale invoice, so I have called customer care as per them I can add it in GSTR-1, so now my query is when I will consider it in GSTR-1 that time will it charges any penalty or interest if it is then what will be the interest rate?

(Asked by Mampi Nath)

Answer – Referring to Section 50(3) of…[Read more]

Question – If I get a purchase bill dated 29th of a month and the material is received in the coming month and I can enter only when the material is received. .How I will adjust in the GSTR 2 and 2A. Can I show this as pending and accept the bill next month as the sales will be affected next month only.

Answer – Yes the invoices can be kept…[Read more]

There are many taxpayers who were required to file the GSTR1 on a quarterly basis but by mistake while logging onto portal chose the option to file the monthly return. Now, such taxpayers are eagerly looking for the solution to this problem, but it is sad to know that as of now, there is no option to reverse this selection. So, if you have chosen…[Read more]

We have been receiving many queries regarding the missing purchase invoices in GSTR3B.

If you have missed any of your purchase invoice in GSTR3B and have not yet filed the return then you can choose the option to revise your return as the revision facility has been newly introduced by GSTN.

Although there is no confirmation yet, soon the…[Read more]