With effect from January 01, 2022 mismatches between GSTR 1 and GSTR 3B can have an impact on your working capital. GST officers can initiate various measures such as withholding your GST refunds, reaching out to your debtors to pay them instead of paying you, etc.
In pursuance of the recommendation of GST Council, CBIC issued necessary clarification vide Circular No. 160/16/2021-GST dated 20th September 2021 on the following issues
The government has granted certain relief to taxpayers by granting following extension in due dates for the month of March 21 and April 21 for various compliance under GST Law.
In this article we will discuss, about QRMP scheme issued by the Central Board of Indirect Taxes & Customs (CBIC) under Goods and Services Tax (GST) which help small taxpayers whose turnover upto Rs.5 crores. The QRMP scheme provides to the taxpayers to file a return GSTR-3B on a quarterly basis and pay tax every month.
To avoid above mentioned errors, GSTIN has implemented new features from GSTR-3B of the month of November, 2020. GSTIN has enabled auto-population of following information in GSTR-3B for taxpayers who are liable to file GSTR-1 on monthly basis
GST implementation is one of the most revolutionary tax reforms that have ever taken place in India. However, the huge number of returns introduced under the GST regime has left the majority of the taxpayers confused. Well, to make it easy for you, we are here to discuss the very first step in this new regime. Yes, we are referring to GSTR-3B here! Find out all the essential information on GSTR-3B return for the month of Sep 2018 and the important points to consider for the filing of the return.
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