The Goods and Service Tax Network (GSTN) deployed the new Functionality for Taxpayers on the GST Portal in June 2021.
In respect of Returns, the GSTN has enabled the moving of records saved in IFF, to later months of the same Quarter, by taxpayers under QRMP Scheme and the Auto population of GSTR-3B liability, for taxpayers under QRMP Scheme, from their IFF and GSTR 1.
In case of moving of records saved in IFF, to later months of same Quarter, by taxpayers under QRMP Scheme the taxpayers under QRMP Scheme have been provided with an optional Invoice Furnishing Facility (IFF), to furnish details of their B2B Invoices and amendments thereto, for first two months of a quarter.
Taxpayers can now move the records saved in their IFF of the first month of a quarter (if the time for filing it has expired) to IFF of the second month of the quarter. Taxpayers can also move the records saved in IFF of the first month & second month of the quarter (if the time for filing it has expired) to their quarterly Form GSTR-1 (of the same quarter). Please note that the records can be moved only within a quarter.
While preparing IFF/GSTR-1 (of later months of the same quarter) online, in case of saved records, taxpayers will get a pop-up prompting them to either MOVE the records by selecting YES or delete them by selecting ‘No’. In case of the Auto population of GSTR-3B liability, for taxpayers under QRMP Scheme, from their IFF and GSTR 1, a taxpayer under QRMP Scheme can declare their liability through optional IFF for Month 1 and Month 2 of a quarter & Form GSTR-1 for Month 3 of the quarter. Declaration of liability in these forms would now be auto-populated in their Form GSTR-3B (Quarterly) of that quarter, based on their filed Form GSTR-1 and IFF.
In case of Refund, Filing for a refund of accumulated ITC by taxpayers making exempt/ nil-rated supplies, by selecting an option of not having a LUT number in the refund application. A taxpayer is required to enter a valid LUT number, while applying for a refund of accumulated ITC, on account of exports of goods and services without payment of tax and supplies made to SEZ without payment of tax.
To enable a taxpayer making exempt and/or nil-rated supplies, without LUT, to file a refund application (as they don’t have a valid LUT number to enter in the refund application), the Form RFD-01 has now been modified. At the time of refund filing, such taxpayers would now be asked to select one of the options namely I have a valid LUT number, I don’t have a valid LUT number, since I am making only exempt/ nil rated supplies. Such taxpayers can now select the second option to proceed with filing their refund applications.
In respect of Ledgers, Facility to view ledger for 12 months and its download, Taxpayers have now been provided with a facility to view their ledgers (viz. Electronic Credit Ledger, Electronic Cash Ledger, and Electronic Liability Register (Part-I & II)) on their dashboard, for a period of 12 months, instead of 06 months earlier. The details can now also be downloaded in pdf and Excel formats.
The Temp ID holders and unregistered applicants have also now been provided with the functionality, to transfer the amount within the cash ledger from one major/minor head to another major/minor head, through Form GST PMT-09.
In case of a negative liability in any tax period of a composition taxpayer (and if no amount is required to be paid by the taxpayer (during that period)), the said negative liability will be maintained in the Negative liability statement. This negative balance lying in the negative liability statement will be automatically adjusted against the liabilities of the subsequent tax period(s). The statement would be accessible to them, post-login, by navigating to Services > Ledgers > Negative Liability Statement.
The currently available HSN Master has been updated on the GST Portal and it now includes product names commonly used in Trade corresponding to a particular HSN code. A download facility for the entire HSN directory in Excel Format has also been provided to the taxpayers under the link “Download HSN in Excel Format”. This facility is available as a part of the ‘Search HSN’ functionality, available both in Pre and Post Login, on the GST Portal.
Source : taxscan.in
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