News Details- (Get Professional Updates on Whatsapp, Msg on
8285393786) More
News
GST Network enables fully auto-populated monthly sales return form GSTR-3B
PrintBusinesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said on Sunday.
"For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax period onwards," Goods and Services Tax Network (GSTN) said.
Based on the supplies return GSTR-1 filed by businesses, GSTN will auto-populate the liabilities, while input tax credit (ITC) would be populated from system-drafted statement GSTR-2B.
"If the total liability of a particular period is negative on account of debit/credit notes, the same will be auto-populated as zero liability," GSTN said.
While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B is filed in a staggered manner between 20th-24th day of the succeeding month.
Also, the facility of communication between taxpayers has been enabled on the GST portal.
"For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax period onwards," Goods and Services Tax Network (GSTN) said.
Based on the supplies return GSTR-1 filed by businesses, GSTN will auto-populate the liabilities, while input tax credit (ITC) would be populated from system-drafted statement GSTR-2B.
"If the total liability of a particular period is negative on account of debit/credit notes, the same will be auto-populated as zero liability," GSTN said.
While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B is filed in a staggered manner between 20th-24th day of the succeeding month.
Also, the facility of communication between taxpayers has been enabled on the GST portal.
Category : GST | Comments : 0 | Hits : 2813
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
Search News
News By Categories More Categories
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
Comments