In recent few months on GST portal, many new features have been updated to help taxpayers while transacting through GSTN for return filing or for reconciliation between two returns etc. So it is important for taxpayer to have up-to date knowledge of “what’s new” on GSTN Portal.
Let’s see some important recent major updates on GST Portal
It is a very useful functionality that will help in reconciling the GST returns filed, as well as in the preparation of the annual return. It helps taxpayer in comparing their GSTR-3B tax liabilities with the GSTR-1 that have been filed. Here taxpayer can also compare their input tax credit claimed in the GSTR-3B with the credit available in GSTR-2A.
On GST Portal, this feature is available on Return Dashboard with tab “Comparison of liability declared and input tax credit claimed”
IRIS Sapphire, an end to end GST Compliance solution, provides the same facility i.e. Report on comparison between GSTR 1 and GSTR 3B for Tax Liabilities and GSTR 3B and GSTR 2A for ITC Claim. Additionally, you also get “GSTR 3B Auto-computed details” based on GSTR 1 and GSTR 2 uploaded data. This auto computation reduces taxpayer’s reconciliation work between two returns. Read here to know which data gets auto-computed from GSTR 1 and from GSTR 2.
Auto-population of TDS and TCS credit received from counterparties who filed their GSTR 7 and GSTR 8 in GSTR 2X form named as “TDS and TCS credit received” on GST Portal has been introduced. Now here taxpayer can take accept or reject action on such TDS and TCS received. On accepting TDS and TCS credit will get credited to Cash ledger of taxpayer. And then taxpayer can use this credit while setting off his liabilities.
On GST Portal, this facility is available under “Services” ->” Returns”-> “TDS and TCS Credit received”
IRIS Sapphire does the same for you. The GSTR 2X gets auto-populated on the portal from where you can take action on TDS and TCS credit received.
Facility to file annual return by normal taxpayers in Form GSTR 9 and by composite dealer in Form GSTR 9A is now available on GST Portal. Even though the due date has been extended till June 30, 2019 for filing the same, taxpayers are encouraged not to wait till the last moment, but file their returns as soon as possible.
This facility is available under “Services” ->” Returns”-> “Annual Return”
IRIS Sapphire provides you auto-computed details of GSTR 9 and lets you save the same on GSTN portal. Additionally also get download of files based on which auto-population is derived. This will ease your review process.
Even if you have not filed GSTR 1 and GSTR 3B by using IRIS Sapphire platform still you will be able to get auto-computed details for GSTR 9 and you will be able to save GSTR 9 details to GSTN portal through IRIS Sapphire. We have compiled a complete guidance on preparing GSTR 9, read here for more details:
GSTN has now removed the restriction for applying return on quarterly basis for Quarterly GSTR 1 filers. So now Quarterly GSTR 1 filer can apply for refund on monthly basis.
Application for appeal has to be submitted by the Appellant (Tax payer or Tax Department) to the First Appellate Authority. The Appellant also needs to submit certified copies within 7 days from the date of application or within the time limit allowed. The Appellate Authority may either admit the appeal by issuing the final acknowledgement or reject the application.
In case Appellate Authority fails to issue final acknowledgement to the appellant within the stipulated time, then a system generated final acknowledgement will now be issued to the appellant with a remark “subject to validation of certified copies”
Every time a taxpayer makes GST payments using a Bank, it will be updated in the Preferred Banks list. Up to 6 Preferred Banks will be shown to a taxpayer while making E-Payment on GST Portal.
Facility for applying for revocation of suo-moto cancellation of registration for the persons registered as OIDAR /TDS/TCS/ NRTP category has been enabled on GST Portal.
At the time of generating E-way bill for outward supply, taxpayers enter the details of outward supplies such as invoice number, date, quantity, value, Tax, HSN code and Consignee GSTIN etc.
Taxpayers can now easily import these details of outward supply invoices, as indicated in the eway bill, at the time of preparation of Form GSTR-1, by clicking the “import EWB Data” button, on the GST portal.
This import data facility is available for sections like
IRIS GST is official GST Suvidha Provider (GSP) in India, offering premium GST compliance tools like IRIS Sapphire(GST Returns) and IRIS Topaz (Eway Bill). With features such as Advance Reconciliation, Smart Reports, Fuzzy Logic, Vendor Management, Smart Dashboard, User Roles, etc. IRIS GST ensures you a hassle-free GST compliance. Please contact firstname.lastname@example.org for more details.