Advisory on New e-Invoice Portal

GSTN has onboarded four new IRPs (Invoice Reporting Portals) for reporting e-invoices in addition to NIC-IRP. As a result, the beta launch of a new e-Invoice portal (www.einvoice.gst.gov.in), has been done where taxpayers can find comprehensive information on e-invoice compliance in a user-friendly format, such as check your enablement status, self-enable themselves for invoicing, search […]

Advisory on Geocoding of Address of Principal Place of Business

The Goods and Services Tax Network (“GSTN”) has issued an Advisory dated February 24, 2023 on the Geocoding of Address of Principal Place of Business. 1.GSTN is pleased to inform the taxpayers that the functionality for geocoding the principal place of business address (i.e. the process of converting an address or description of a location into geographic […]

GST fraud worth ₹824 crore by insurance companies

Directorate General of GST Intelligence, Mumbai Zonal Unit detects GST fraud worth ₹824cr by insurance companies. During the course of investigations against sixteen insurance companies on the issue of availment of ineligible input tax credit, it has come to notice that these insurance companies have availed input tax credit on the basis of invoices issued […]

Introduction of Negative Values in Table 4 of GSTR-3B

GSTN allowed Negative Values in Input Table of GSTR-3B from Jan 2023 The Government has notified few changes in Table 4 of Form GSTR-3B for enabling taxpayers to report correct information regarding ITC availed, ITC reversal and ineligible ITC in Table 4 of GSTR-3B. According to the changes, the net ITC is to be reported […]

Recommendations of 49th GST Council Meeting

The 49th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate AffairsSmt. Nirmala Sitharaman in New Delhi today. The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary besides Finance Ministers of States & UTs (with legislature) and seniorofficers of the Ministry of Finance & States/ […]

HEALTH SECTOR: FY 2022-23 GST UPDATES

Health infrastructure is an important indicator for understanding the healthcare delivery provisions and welfare mechanisms in a country. The Goods and Services Tax (“GST”) law has undergone various changes in the year 2022-23s. The 47th GST Council meeting held on June 28, 2022, and June 29, 2022, the GST Council proposed imposition of GST on […]

GST – ITC (INPUT TAX CREDIT): FY 2022-23 UPDATES

CLARIFICATION TO DEAL WITH ITC MISMATCH BETWEEN GSTR- 3B VS. GSTR-2A FOR F.Y. 2017-18 AND 2018-19 Circular 183/15/2022-GST is issued by the Central Board of Indirect Taxes and Customs (CBIC) to provide clarification on the input tax credit (ITC) mismatch between GSTR-3B and GSTR-2A for the financial years 2017-18 and 2018-19. Type of Cases due […]

REAL ESTATE SECTOR – FY 2022-23 GST UPDATES

Real estate sector is one of the major economic sectors for any country, especially India where this sector is getting the attention in the recent years. In this article we are going to discuss about GST updates in Real estate sector. Following are some of the key updates for the F.Y 2022-23 before announcement of […]

GST REFUND – FY 2022-23 UPDATES

Measures intended to facilitate trade there are following changes in Refund under GST during the F.Y 2022-23 like Transfer of CGST/IGST cash ledger balance has been allowed between ‘distinct persons’ (entities having same PAN but registered in different states, Facility has been provided for withdrawal of refund applications made under GST by the taxpayers, a […]