Various New Functionalities in regard to GST returns have been made available for Taxpayers on GST Portal in March 2022. For ready reference of our readers the same are given as under:
Changes in Table 4 (A) of Form GSTR-3B
As per the Notification No. 40/2021 – Central Tax dated 29th Dec 2021, no input tax credit shall be availed by the registered person in respect of invoices or debit notes the details of which are not furnished in GSTR-1. Hence, the taxpayers are allowed to avail only that ITC which is available in GSTR-2B which is auto-populated in table 4 of GSTR-3B.
Accordingly, the system-based validation on the threshold of the excess ITC that can be availed by the taxpayer has been reduced to 0% from the earlier 5%. The system will give now warning message
if a taxpayer increases the auto-populated ITC in table 4A (ITC Available). However, as of now, the taxpayer will still be allowed to proceed and file the return with the edited values.
Displaying payment liability ratio & its calculation and providing Form GST DRC03 link
• System computed liability is auto-populated in GSTR-3B on the basis of values reported in Form GSTR-1/IFF. In addition, liability on account of inward supplies attracting reverse charge is auto-populated from Form GSTR-2B.
• A functionality has been implemented to display liability payment ratio and its computation details to taxpayer. This ratio of auto-populated liability and the liability actually paid by taxpayer would indicate the compliance behaviour of a taxpayer. The taxpayers are also provided with a linkage to Form GST DRC-03 to make any liability payment.
Facility for submitting consent for availing loan by MSME Taxpayers
A link has been provided in the File Returns Page under Returns Dashboard of the portal, where MSME taxpayers can give their consent for availing Mudra Loan upto Rs 10 lacs or MSME Loan upto Rs 5 Cr.
Changes implemented in Form GSTR-5
• A new Proceed to File button has been provided and Submit button has been removed in Form GSTR-5 filed the Nonresident taxpayers.
• Further, table for reporting inward supplies attracting reverse charge has also been provided in Form GSTR-5.
Offline utility for TDS/TCS credit received
An excel based TDS & TCS Credit Received offline utility has been made available on the portal for download. This utility will help the taxpayer to prepare the TDS & TCS Credit Received return in offline mode.
Changes made in “QUERY ICEGATE” functionality
• If a taxpayer fetches BoE details from ICEGATE portal before these records have been shared by ICEGATE with GST portal, he/ she gets an error message “Record already processed”.
• To help reduce these error messages, a validation has been introduced which disallows taxpayers from triggering “QUERY ICEGATE” for BoE records where the BoE Date/Reference Date is less than T-4 (where T is current date).
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