GST

GST Portal Updates every person must be aware of

The Goods and Services Tax Network (GSTN) has come out with a number of updates on GST portal at the time of filing of GST returns. These GST portal updates have been summarised below:

GST portal Updates

Addition of a new statement for the regular taxpayers

One of the GST portal updates include introduction of a new statement on the GST portal which has been brought for the regular taxpayers. Now the GST portal displays that tax liability in GSTR-1/IFF, GSTR-2B/2A and the tax paid under GSTR-3B.

The tax paid in this newly introduced month-wise statement also includes DRC-03 payment. This statement shows the amount of excess or shortfall in the tax payment after considering the payment through DRC-03. This statement made available by GST portal updates is also a reflection of the breakup of types of taxes such as CGST, IGST, SGST and cess.

This payment also reflects the percentage of tax liability paid by the taxpayer. If the statement indicates below 100 percent, then it means that some portion of the tax liability has not been paid by the taxpayer and similarly if the statement reflects above 100 percent, then it means that the taxpayer has made an excessive payment of taxes more than what was required to be paid.

This statement also offers and option to the taxpayers to pay taxes in case of any shortfall as per the statement.                           

Upgradation of search facilities using GSTIN/UIN 

The new GST portal updates have made it possible for the GST buyers to gain access to additional details while searching for a GST Identification Number (GSTIN) using the facility on the GST portal^[1]. Now the buyers can not only gain access to the active status of the GSTIN and return filing status but also know whether there exists any shortfall in the payment of tax dues.

The latest GST portal updates summarise the percentage of liability of liability to be paid in the GSTR-3b compared to GSTR-1. This allows the GST registered purchasers to search GSTIN of any supplier and know whether the supplier has paid his taxes under GSTR-3B compared to the liability imposed in GSTR-2 in percentage terms.

The budget of 2022 has also made amendments in section 38 of CGST Act by adding certain restrictions on the Input tax Credit (ITC) claims. The new conditions for availing ITC mandate that the vendor must have paid all the taxes due to the government on which the buyer is claiming ITC.

Before the current GST portal updates, there was no facility available for the buyers where they could verify whether a supplier has paid his taxes. The amendments made in the GST portal updates regarding improved search of GSTIN facility will include additional information for the validation by buyers.

New feature for cancellation of GST Registration

The GST portal updates has added a new feature where cancellation of GST registration can take place if the extent of ITC to be claimed in GSTR 3-B is more than 10% compared to GSTR-2B of that period. It must be noted that GSTR-1 has been put on an auto-pilot mode on the basis of entries made in GSTR-1 filed.

The auto-piloted GST portal can automatically identity a variance of more than 10% and suspend the registration consequently. The difference can also be detected in the liability which has been reported in GSTR-3B when compared to GSTR-1.

Due the above mentioned GST Portal updates, taxpayers must always be careful while filing their GSTR-3B and keep an eye on discrepancies in GSTR-1 and GSTR-2B. Filing of GSTR-1 and GSTR-3B must be carefully examined before filing GSTR-2B before filing of GSTR-3B in order to avoid any possibility of cancellation of registration.  

Access to the information of GST officers

The new GST portal updates allow access to the email addresses and mobile numbers of the State and Central GST officers.

 A taxpayer has two options to get hold of the information related to the State and Central GST officers. one option is to select the ‘Services’ tab, then select the ‘ledger’ option and then get into the negative liability statement. In the second option, after selecting the ‘Services’ tab, select ‘User services’ and then click on ‘contacts’.

Facility of accessing Interest calculator while filing GSTR-3B

The GST portal updates also include the facility of the interest calculator which has the feature of automatically computing interest liability of the taxpayer before the filing of GSTR-3B. This feature of interest calculator is available on the GSTR-3B window. It must also be noted that the calculation of the interest liability in this case would amount to self-assessment since the taxpayer has the option of editing the automatically computed figures later on.

The taxpayers will also be able to check the interest liability under various tax heads. The interest calculator will also be able to calculate interest on late payment on the tax liabilities of the previous tax periods which has been declared in the current GSTR-3B.

Conclusion

The GST portal updates have been brought with the purpose of bringing ease of filing and increasing access and transparency. These range from introducing a new statement indicating shortfall or excess in the tax payment, accessing additional details using GSTIN on GST portal, cancellation of registration, access to the contact information  of the state and central GST officers and automatic interest calculator.

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