New Releases on GST Portal functionalities made available recently:
1. Refund: Application for Refund can now be filed for multiple tax periods, in following refund cases :
Export of services with payment of tax with the facility to upload Statement 1.
ITC accumulated due to Inverted tax structure with the facility to upload Statement 2.
On account of supplies made to SEZ (Unit and Developer) with payment of IGST with the facility to upload Statement 4.
Recipient/Supplier of deemed export with the facility to upload Statement 5B.
The user manual and FAQ of this facility is available in the help menu at GST portal and can be accessed by using the link https://www.gst.gov.in/help/refund
2. Payment of tax in installments: The application for payment of tax and other amounts in installments (Form GST DRC-20) has been enabled on GST portal (Refer Section 80 of the CGST Act, 2017 & Rule 158(1) of the CGST Rules, 2017).
The user manual and FAQ of this facility is available in the help menu at GST portal and can be accessed by using the following links:
Manual application for deferred payment
FAQs for deferred payment
3. Opting in and out of composition scheme : If a taxpayer wishes to opt in or opt out from Composition Scheme, he performs this activity for a particular GSTIN, on the GST Portal. Changes have been made on the GST Portal that, if a user opts in or opts out of Composition scheme then this status will be reflected across all GSTINs, with the same PAN. (Refer proviso to Section 10(2) of the CGST Act, 2017).
4. Payment: At the time of generation of challan, Mobile No, email-Id and address of taxpayer will now be masked for data security.
5. Challan for ISD Registrants: All Major heads (CGST, IGST, Cess, SGST/ UTGST) and all Minor heads (Tax, Interest, penalty, Fee and Others) are enabled during challan generation, for all type of Users on GST portal, in both pre and post-login mode. Now, For ISD (Input Service Distributors) users only Fee and Penalty minor heads only will be enabled in challan (under all Major heads (CGST, IGST, Cess, SGST/UTGST)). Rest all other minor heads (Tax, Interest, Others) will remain disabled (and ISD Users will not be able to enter the amount under Tax, Interest and Others minor heads).
Last date to avail input tax credit in respect of invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018
1. There appears to be misgiving about the last date for taking input tax credit (ITC) in relation to invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018. Such uncertainty seems to stem from the Government’s decision to extend the last date for furnishing of details of outward supplies in FORM GSTR-1 from time to time.
2. According to section 16 (4) of the CGST Act, 2017, a registered person shall not be entitled to take ITC in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains (hereinafter referred to as “the said invoices”)or furnishing of the relevant annual return, whichever is earlier.
3. With taxpayers self-assessing and availing ITC through return in FORM GSTR-3B, the last date for availing ITC in relation to the said invoices issued by the corresponding supplier(s) during the period from July, 2017 to March, 2018 is the last date for the filing of such return for the month of September, 2018 i.e. 20th October, 2018.
4. It is clarified that the furnishing of outward details in FORM GSTR-1 by the corresponding supplier(s) and the facility to view the same in FORM GSTR-2A by the recipient is in the nature of taxpayer facilitation and does not impact the ability of the taxpayer to avail ITC on self-assessment basis in consonance with the provisions of section 16 of the Act. The apprehension that ITC can be availed only on the basis of reconciliation between FORM GSTR-2A and FORM GSTR-3B conducted before the due date for filing of return in FORM GSTR-3B for the month of September, 2018 is unfounded as the same exercise can be done thereafter also.
5. It may, however, be noted that the Government has extended the last date for furnishing of return in FORM GSTR-3B for the month of September, 2018 for certain taxpayers who have been recently migrated from erstwhile tax regime to GST regime vide notification No. 47/2018- Central Tax dated 10th September, 2018. For such taxpayers, the extended date i.e. 31st December, 2018 or the date of filing of annual return whichever is earlier will be the last date for availing ITC in relation to the said invoices issued by the corresponding suppliers during the period from July, 2017 to March, 2018.
6. All the taxpayers are encouraged to take note of the legal requirements and be compliance savvy.
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