Barring of GST Returns After Three Years Barring of GST Returns After Three Years The Finance Act, 2023 has introduced a significant change in GST compliance, effective from October 1, 2023, which restricts the filing of certain GST returns beyond a period of three years from the due date. Under this amendment, taxpayers will lose … Read more
GST Compliance Update for Metal Scrap Buyers GST Compliance Update for Metal Scrap Buyers The GST Network (GSTN) has introduced a significant update that affects metal scrap buyers in India. This update follows Notification No. 25/2024 – Central Tax, dated October 9, 2024, and mandates new registration compliance through form GST REG-07. If you are … Read more
Auto-Populated Values in GSTR-3B Auto-Populated Values in GSTR-3B The Goods and Services Tax Network (GSTN) continues to improve its return filing processes to make compliance easier for taxpayers. One of the key features introduced recently is the pre-filled GSTR-3B form, aimed at reducing human errors and improving accuracy in return filings. As part of its … Read more
Important Updates for GSTR-9 and GSTR-9C Filing Important Updates for GSTR-9 and GSTR-9C Filing The GST landscape continues to evolve with new compliance measures aimed at making tax filing more efficient for taxpayers. As part of these updates, starting from FY 2023-24, the GST system will now auto-populate eligible Input Tax Credit (ITC) in GSTR-9, … Read more
Waiver of Late Fees for GSTR7 Returns Introduction Waiver of Late Fees for GSTR7 Returns On 8th October 2024, the Central Government issued Notification No. 23/2024–Central Tax, which brings significant relief to registered persons required to deduct tax at source under the Central Goods and Services Tax Act, 2017. This notification waives the late fees … Read more
