Goods and Services Tax

Goods and Services Tax – GST Dated:- 12-2-2021 – News – 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No 82/2020 Central Tax, dated 10th Nov., 2020, has revised Rule 61 of the Central Goods and Services Tax Rules, 2017 , to provide for staggered filing of Form GSTR-3B , for the tax periods from January, 2021, onwards, as under: Sl.No. Class of registered persons who have Opted for Having principal place of business in the State/ UT of Due date of filing of Form GSTR- 3B , from January, 2021, onwards 1 Monthly filing of Form GSTR-3B All States a

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Goods and Services Tax – GST Dated:- 11-2-2021 – News – The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Shri Surender Kumar Gupta resident of New Delhi on charges of availing and passing on fake input tax credit by way of receipt/issuance of invoices without any actual supply of goods or services. It is apparent from the investigation conducted till date, that Shri Surender Kumar Gupta, Director of M/s. Mystic Exim Pvt. Ltd., M/s. Landmark Traders Pvt. Ltd. and Controller of M/s. JKM Impex forged documents to show receipt of goods in his above mentioned companies/firms from multiple fictitious/non-existent entities, which never existed at their given addresses. The entities of Sh

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Goods and Services Tax – GST Dated:- 10-2-2021 – News – The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has arrested Shri Ritesh Aggarwal, resident of Bahadurgarh, Haryana on charges of passing and availment of fake ITC while operating dummy, fake and non-existent firms and encashing this unduly availed input tax credit (ITC) through IGST refund mode by showing export of cigarettes. It became apparent from the investigation that Shri Ritesh Aggarwal , the proprietor of M/s SR Impex was de-facto controller of another firm – M/s SR International. In the supply chain of these firm were found to be six other dummy firms by the names of M/s Joles Trading Co, AS Traders, AR Traders, Om Traders, Capital

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lent drawback was availed on imported areca nuts by forging the Certificate of Origins. The investigation spanned multiple locations in Delhi and Haryana and based on documentary evidence and statement recorded of many suppliers of these firms, it was ascertained that Shri Ritesh Aggarwal is a key person in orchestrating this racket of making fake/non-existent/dummy firms and wrongly availment and passing on on ITC of ₹ 376 crore. Accordingly, Shri Ritesh Aggarwal was arrested on 09.02.2021 and produced before Duty MM, Patiala House Court Delhi, who ordered judicial custody. Further investigations in the matter are under progress. – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmana

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Goods and Services Tax – GST Dated:- 10-2-2021 – News – In the ongoing drive against fake billing operations, the officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East, have unearthed a multi-layered network of fictitious firms being used by their operators to generate and pass on fake ITC. Through the use of extensive data analytics, officers of Delhi East GST were able to identify and unravel a network of 46 fake firms which were operating since 2017 and had passed on fake ITC to multiple of beneficiaries. The investigation conducted revealed that the fictitious firms were being controlled by Shri Arvind Kumar and his associates. He was arrested on 17.01.2021 and is in judicial custody till date. The key ass

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Goods and Services Tax – GST Dated:- 4-2-2021 – News – The Directorate General of GST Intelligence (DGGI), North Zone, Gurugram, has arrested Shri Harish Kumar Rampal, Chartered Accountant, proprietor of M/s Rampal and Company(ICAI Reg. No. 080333), the CA firm of M/s Starcrest Services Pvt. Ltd. M/s Rampal and Company had collected GST from M/s Starcrest Services Pvt. Ltd. for onward deposit to government exchequer towards GST liability of the company but they did not deposit the amount approximating of ₹ 12.67 crore in the government exchequer and in turn mis-appropriated the same. Sh. Harish Kumar Rampal was involved in forging GST challans and GST returns for ownwards submission to the company. Thus, Shri Harish Kumar Ramp

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Goods and Services Tax – GST Dated:- 4-2-2021 – News – 1. W.e.f. 1st January, 2021, following two options are available to the Taxpayers who are under Quarterly Returns and Monthly Payment of Tax (QRMP) Scheme for tax payment for first 02 months of a quarter: a. Fixed Sum Method: Portal can generate a pre-filled challan in Form GST PMT-06 based on his past record. b. Self-Assessment Method: The Tax due is to be paid on actual supplies after deducting the Input Tax Credit available. 2. In fixed sum method, the 35% Challan can be generated by selecting the Reason For Challan Monthly Payment for Quarterly Return 35% Challan which is in turn calculated as per following situation: a. 35% of amount paid as tax from Electr

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Goods and Services Tax – GST Dated:- 4-2-2021 – News – Office of the Principal Commissioner , Central Goods and Services Tax, Meerut Mangal Pandey Nagar, Opposite C.C.S University, Meerut-250005, Phone No. 0121-2762632, Fax No. 2761783 Dated: 3rd February 2021 PRESS RELEASE In the ongoing campaign against fake/bogus invoices launched by Chief Commissioner, Meerut Zone, officers of Central Goods and Service Tax (CGST) Commissionerate, Meerut have unearthed yet another case of fake GST invoicing of ₹ 200 crore (approx) by carrying out simultaneous searches at 11 locations in Meerut Ghaziabad. The syndicate was being operated by Sh. Vikas Jain and persons employed by him for carrying cash and bills

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re have been recovered seized for further investigation. In this case several recipient firms who had availed the fraudulently passed ITC have been identified and one such firm registered at Meerut has deposited an amount of ₹ 2 crores towards partial discharge of their GST liability arising out of their irregular availment of ITC passed on by Vikas Jain from his firms. Therefore, the offence so committed by the accused under Section 132(1)(b) (c) of the CGST Act 2017 , falls in the category of cognizable and non-bailable offence under Section 132(5) and is punishable under Section 132(1)(i) of the said Act. Accordingly, the accused was arrested under Section 69 of the CGST Act, 2017 and produced before the

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Goods and Services Tax – GST Dated:- 3-2-2021 – News – From January 2021 onwards, an Invoice Furnishing Facility (IFF) facility, as per sub-rule (2) of Rule-59 of the CGST Rules, 2017 , has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and Form GSTR-3B returns). In addition, the tax due for first two months of the quarter can be deposited in Form GST PMT-06, by the taxpayers under QRMP Scheme, by 25th of next month by selecting Monthly payment for quarterly taxpayer . For information and guidance of taxpayers on these topics, following webinars are being organized by GSTN: Topic Furnishing of details in IFF and payment of tax (Form GST PMT-06) by

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Goods and Services Tax – GST Dated:- 3-2-2021 – News – 14th Instalment of ₹ 6,000 crore released to the States to meet the GST compensation shortfall A total amount of ₹ 84,000 crore released so far to all States and UTs with legislature This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 14th weekly instalment of ₹ 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu Kashmir Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. Till now, 76 per cent of the total estim

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In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-I to meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have given their preference for Option-I. Permission for borrowing the entire additional amount of ₹ 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the States/UTs till 01.02.2021 (Rs. in Crore) S

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3646.77 9 Himachal Pradesh 877 1438.79 10 Jharkhand 1765 827.55 11 Karnataka 9018 10396.53 12 Kerala 4,522 3153.48 13 Madhya Pradesh 4746 3806.03 14 Maharashtra 15394 10036.53 15 Manipur* 151 0.00 16 Meghalaya 194 93.79 17 Mizoram* 132 0.00 18 Nagaland*

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Goods and Services Tax – GST Dated:- 1-2-2021 – News – The gross GST revenue collected in the month of January 2021till 6PM on 31.01.2021 is ₹ 1,19,847 crore of which CGST is ₹ 21,923 crore, SGST is ₹ 29,014 crore, IGST is ₹ 60,288 crore (including ₹ 27,424 crore collected on import of goods) and Cess is ₹ 8,622 crore (including ₹ 883crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of December up to 31stJanuary 2021 is 90 lakhs. The government has settled ₹ 24,531 crore to CGST and ₹ 19,371 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in

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8377;1.15 lakh crore. GST revenues above ₹ 1 lakh crore for a stretch of last four months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, Income-tax and Customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months. The average YoY growth in GST revenue over the first four months in the second half of the financial year has been 8% as compared to (-) 24% during the first half of the year. 1. The chart below shows trends in monthly gross GST revenues during the current year. – News

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Goods and Services Tax – GST Dated:- 30-1-2021 – News – Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for the benefit of the stakeholders. To view module wise functionalities deployed on the GST Portal and webinars conducted/ Videos posted on our YouTube channel, refer to table below: Sl. No. List of Click link bel

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Goods and Services Tax – GST Dated:- 25-1-2021 – News – 13th Instalment of ₹ 6,000 crore released to the States to meet the GST compensation shortfall A total amount of ₹ 78,000 crore released so far to all States and UTs with legislature This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 13 th weekly instalment of ₹ 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu Kashmir Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. Till now, 70 percent of the

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rage interest rate of 4.7491% . In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-I to meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have given their preference for Option-I. Permission for borrowing the entire additional amount of ₹ 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the States/UTs till 18.01.20

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Haryana 4293 3409.84 9 Himachal Pradesh 877 1345.31 10 Jharkhand 1765 735.60 11 Karnataka 9018 9721.07 12 Kerala 4,522 2839.56 13 Madhya Pradesh 4746 3558.75 14 Maharashtra 15394 9384.47 15 Manipur* 151 0.00 16 Meghalaya 194 87.69 17 Mizoram* 132 0.00

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Goods and Services Tax – GST Dated:- 22-1-2021 – News – Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund, other Miscellaneous topics. Various webinars are also conducted during the period for the benefit of the stakeholders. To view module wise functionalities deployed on the GST Portal and webinars conducted, refer t

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Goods and Services Tax – GST Dated:- 18-1-2021 – News – 12th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of ₹ 72,000 crore released so far to all States and UTs with legislation This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 12 th weekly instalment of ₹ 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu Kashmir Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. Till

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rrowing window at an average interest rate of 4.7024%. In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-I to meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have given their preference for Option-I. Permission for borrowing the entire additional amount of ₹ 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the

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8 Haryana 4293 3172.91 9 Himachal Pradesh 877 1251.83 10 Jharkhand 1765 643.65 11 Karnataka 9018 9045.61 12 Kerala 4,522 2525.64 13 Madhya Pradesh 4746 3311.47 14 Maharashtra 15394 8732.41 15 Manipur* 151 0.00 16 Meghalaya 194 81.59 17 Mizoram* 132 0

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Goods and Services Tax – GST Dated:- 18-1-2021 – News – In the ongoing drive against availment of inadmissible ITC, officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East unearthed a multi-layered network of fictitious firms being used to generate and pass on fake ITC. Through the use of extensive data analytics, officers identified and searched 21 premises between 15/01/2021 and 17/01/2021, leading to the unraveling of a network of fake firms that were operating since 2017 to pass on fake ITC. The network of fake firms was being operated by one Shri Arvind Kumar, who used to pass fake ITC for a commission of 4 to 4.5% of the invoice amount. Investigation conducted so far has revealed 46 firms to be fictitiou

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Goods and Services Tax – GST Dated:- 15-1-2021 – News – In the ongoing campaign against fake/bogus invoices and resultant availment of inadmissible ITC, officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have detected a case of issue of fake bills of ₹ 79.5 crore (approx). The syndicate was being operated by Sh. Nitin Jain, C.A by floating three firms i.e M/s Anshika Metals, M/s N.J Trading Co. and M/s A.J Enterprises using the identity of his family members, with the intent of passing of inadmissible ITC. Sh. Nitin Jain, C.A through these firms has passed on fake ITC of ₹ 14.30 crore. All the e-way bills generated to transport the goods were also found fictitious. Sh. Nitin Jain, C.A who was absco

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ission basis. Sh. Nitin Jain by using fake entities on the identity of his family members has knowingly committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act,2017 as amended vide Section -127 of the Finance Act 2020 , which are cognisable and non-bailable offences as per the provisions of Section 132(5) and punishable under clause (i) of the sub section (1) of Section 132 of the Act ibid. Sh. Nitin Jain, C.A has been arrested under Section 69(1) of the CGST Act 2017 and produced before the Duty Magistrate. He has been remanded in judicial custody of 14 days upto 27.01.2021 by the Duty Magistrate. Further investigation in this case is under progress. The consolidated amount of detection under fak

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Goods and Services Tax – GST Dated:- 13-1-2021 – News – 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 Central Tax, dated 10th Nov., 2020, has inserted sub rule 6 in Rule 61 of the Central Goods and Services Tax Rules, 2017 , to provide for staggered filing of Form GSTR-3B , for the tax period of December, 2020 as under: Sl. No Taxpayers with aggregate turnover (PAN based) in the previous financial year Having principal place of business in the State/ UT of Due date of filing of Form GSTR- 3B, for December, 2020 1 More than ₹ 5 Crore

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Goods and Services Tax – GST Dated:- 12-1-2021 – News – 1. From 1-10-2020, certain notified taxpayers have been issuing invoices after obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as e-invoices ). From 1-1-2021, the taxpayers with aggregate turnover above ₹ 100 Cr. had also started reporting invoices to IRP. Details from the reported e-invoices are being auto-populated in respective tables of GSTR-1 . Update on the same was last published on 30/12/2020 A detailed advisory regarding methodology of auto-population of e-invoice details into GSTR-1 is already published on GSTR-1 dashboard. You can read the same HERE . 2. It is observed that, while pu

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in GSTR-1 can be edited/deleted by the taxpayer. However, in such cases, the Source , IRN and IRN date fields will be reset to blank in respective tables of GSTR-1 and accordingly won t get reflected in GSTR-2A / 2B / 4A / 6A also. Such edited documents will be treated as if they were not auto-populated but uploaded separately by taxpayer. 4. Other than the details auto-populated from e-invoices, taxpayers are required to add details of any other supplies made, in respective tables of GSTR-1 . 5. An additional facility of consolidated excel download of all documents auto-populated from e-invoices is available in GSTR-1 dashboard. This file includes details of cancel

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Goods and Services Tax – GST Dated:- 11-1-2021 – News – 11th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall A total amount of ₹ 66,000 crore released so far to all States and UTs with legislation This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance has released the 11 th weekly instalment of ₹ 6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu Kashmir Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. Now, 60 percent of the estimated GST compensat

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was the 11 th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.1057%. So far, an amount of ₹ 66,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7271%. In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-I to meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have been given their preference for Option-I. Permission for borrowing the entire additional amount of ₹ 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the am

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3231 2634.14 5 Chhattisgarh 1792 1015.56 6 Goa 446 566.58 7 Gujarat 8704 6221.22 8 Haryana 4293 2935.98 9 Himachal Pradesh 877 1158.35 10 Jharkhand 1765 551.70 11 Karnataka 9018 8370.15 12 Kerala 4,522 2211.72 13 Madhya Pradesh 4746 3064.19 14

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Telangana 5017 1077.30 25 Tripura 297 152.70 26 Uttar Pradesh 9703 4052.45 27 Uttarakhand 1405 1562.64 28 West Bengal 6787 1699.60 Total (A): 106830 60066.36 1 Delhi Not applicable 3956.63 2 Jammu Kashmir Not applicable 1532.67 3 Puducherry Not applicable 444.34 Total (B): Not applicab

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Goods and Services Tax – GST Dated:- 9-1-2021 – News – The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Shri Sanjay Goel, resident of New Delhi on charges of illegally availing and passing on input tax credit (ITC) on goods-less invoices. On the basis of the investigation conducted till date, that Shri Sanjay Goel, through his proprietorship concern M/s Redamancy world, showed purchase of lead ingots from non existent concerns using

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Goods and Services Tax – GST Dated:- 8-1-2021 – News – Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication or e-KYC on GST Portal. This is not applicable for Government Departments, Public Sector Undertakings, Local Authorities and Statutory Bodies. 2. What is Aadhaar Authentication or e-KYC a) If Aadhaar is available, the Primary Authorized signatory and 1 person who is Proprietor/Partner/Director /Managing Partner/ Karta of the ent

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tal. c) If taxpayer clicks on Yes, Navigate to My Profile , system will navigate to My Profile. In MY PROFILE, a new tab Aadhaar Authentication status has been shown from where link for Aadhaar Authentication to the Primary Authorized Signatory and one of promoters/partners as selected by him will be sent. Note: If same person is Primary Authorized Signatory and Partner/Promoter, Aadhaar authentication is only required to be done for that person. d) On the My profile page, in addition to SEND AADHAAR AUTHENTICATION LINK, UPLOAD E-KYC DOCUMENTS option would also be displayed to taxpayer from where they can upload the e-KYC documents on Portal. In this case, the process of e-KYC authentication would be subject to approval of uploa

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Goods and Services Tax – GST Dated:- 7-1-2021 – News – OFFICE OF THE COMMISSIONER OF CENTRAL TAX, CENTRAL EXCISE SERVICE TAX MEDCHAL COMMISSIONERATE MEDCHAL GST BHAWAN 11-4-649/B, Lakdi ka pool, Hyderbad E-mail: cgst.mdclcommteae@gov.in Date : 06.01.2021 PRESS NOTE A CASE OF FAKE INVOICES Officers of Anti-Evasion, of Medchal Commissionerate booked cases of fake invoices and evasion of GST against Shri Gordhan Singh. Arjun Chowdhary and Kiran Chowdhury, who created non-existent firms and issued invoices without supplying goods and facilitated fraudulent availment of input tax credit by over 200 different firms/Companies (within and outside the Commissionerate) thereby defrauding the gove

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ainst payment of 9%/10% commission in cash. Further, it is also noticed that the recipient firms of the fake bills are paying the invoice amounts in regular banking channels by way of RTGS/Cheque to the bogus firms who have issued fake bills and the amounts are being paid back to them by withdrawing cash from their account by deducting their commission. Shri. Arjun Chowdaty, Kiran Choudhary, and Vikas Saraf have accepted their involvement in the case as stated above, vide their statements and were arrested on 06.01.2021, produced before the Hon'ble EOC on the same day and remanded upto 20.01.2021. Whereas, Shri Gordhan Singh is absconding and all efforts are on to trace the accused. Further investigation and recovery proceedings a

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Goods and Services Tax – GST Dated:- 6-1-2021 – News – An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and also of Form GSTR-3B returns), as per sub-rule (2) of Rule-59 of the CGST Rules, 2017 . Taxpayers who have opted for quarterly filing frequency under the scheme can file their details of outward supplies (B2B invoices only) for first two months of a quarter (M1 and M2 respectively of a Quarter) in IFF. For e.g. for Apr-June qtr., B2B invoices only for the months of April (M1) and May (M2) can be filed in IFF by a taxpayer. 2. The IFF is a facility similar to Form GSTR-1 , and it allows filing of details of B2B invoices in following ta

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Services Returns Dashboard File Returns and then Select the Financial Year Return Filing Period (M1/M2 of a quarter) and click on SEARCH button to file the IFF forms for M1 or M2 month. 5. IFF is an optional facility provided to taxpayers under QRMP scheme to pass on Input Tax Credit (ITC) to their recipients for M1 and M2 months of a quarter. However, filing of Form GSTR-1 for M3 month of a quarter is mandatory. a. Records uploaded in IFF by the Supplier will reflect in Form GSTR-2A / 2B of the Recipient. b. Supplier Taxpayers can also upload details in their IFF, through JSON file, generated using Returns Offline Tool. c. Records filed in IFF need not be filed again in Form GSTR-1 of that

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Goods and Services Tax – GST Dated:- 5-1-2021 – News – A facility of Communication Between Taxpayers has been provided on the GST Portal, for sending a notification by recipient (or supplier) taxpayers to their supplier (or recipient) taxpayers, regarding missing documents or any shortcomings in the documents or any other issue related to it. In this regard, GSTN would be conducting following webinars for taxpayer awareness: Webinar Topic Communication Channel between Taxpayers Language of webinar English Hindi Tamil Marathi Date 6th Jan, 2020

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Goods and Services Tax – GST Dated:- 4-1-2021 – News – 10th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of ₹ 60,000 crore released so far to all States and UTs with legislation This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance has released the 10 th weekly instalment of ₹ 6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu Kashmir Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. Now, more than 50 percent of the estimated GST

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ed by the Central Government through the special borrowing window at an average interest rate of 4.6892%. In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-Ito meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have been given their preference for Option-I. Permission for borrowing the entire additional amount of ₹ 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed.

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446 520.85 7 Gujarat 8704 5719.15 8 Haryana 4293 2699.05 9 Himachal Pradesh 877 1064.87 10 Jharkhand 1765 459.75 11 Karnataka 9018 7694.69 12 Kerala 4,522 1897.80 13 Madhya Pradesh 4746 2816.91 14 Maharashtra 15394 7428.29 15 Manipur* 151 0.00 16 Meg

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sh 9703 3725.41 27 Uttarakhand 1405 1436.55 28 West Bengal 6787 1458.37 Total (A): 106830 54549.76 1 Delhi Not applicable 3637.32 2 Jammu Kashmir Not applicable 1408.98 3 Puducherry Not applicable 403.94 Total (B): Not applicable 5450.24 Grand Total (A+B) 106830 60000.00 * These States have NIL GST compensation ga

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