SREEKESH D A - GSTP-AUDITOR AND TAX CONSULTANT

  Advisory on facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns 24/01/2023 Recently, a functionality of  "Automated Drop Proceedings"  of GSTINs suspended due to non-filing of returns has been implemented on the GST Portal. This functionality is available for the taxpayers who have filed their pending returns i.e. 6 monthly or 2 Quarterly returns. If such taxpayers have filed all their pending returns, the system will automatically drop the proceedings and revoke suspension. If the status of the GSTIN does not automatically turn ‘ACTIVE’, then taxpayers are advised to revoke the suspension once the due returns have been filed, by clicking on ‘Initiate Drop Proceeding’ for which navigation is as follows: "Log on to GST Portal > Services > User Services > View Notices and Orders > Initiate Drop Proceeding" In case the system does not automatically drop the proceedings or taxpayer is unable to revoke the suspension b...

  Advisory on New e-Invoice Portal 25/02/2023 Dear Valued Taxpayers, 1. We would like to inform you that 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 for IRNs, web links to all IRP portals – all the relevant links/information in one convenient location. Taxpayers can log in to the new e-invoice portal using their GSTN credentials for select services pertaining to their GSTIN profiles. 2. Taxpayers may note that the portal < einvoice.gst.gov.in > is reference site for all masters (data), news and updates, latest releases etc. For registering e-invoices and to access APIs, you still need to go to < einvoice X .gst.gov.in>  si...

  Advisory on Geocoding of Address of Principal Place of Business 24/02/2023 Dear Valued Taxpayers, 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 coordinates) is now available on the GST Portal. This feature is introduced to ensure the accuracy of address details in GSTN records and streamline the address location and verification process. 2.This functionality can be accessed under the Services/Registration tab in the FO portal. The system-generated geocoded address will be displayed, and taxpayers can either accept it or update it as per their requirements of their case. In cases where the system-generated geocoded address is unavailable, a blank will be displayed, and taxpayers can directly update the geocoded address. 3.The geocoded address details will be saved separately under the "Principal Geocoded" tab on the ...

 📌 GSTN has enabled the option to show return filling frequency 📰 Now you can check the return filling frequency of any GST registered person. This feature will help you to identify the QRMP and Non QRMP dealers. You can check the frequency of current as well as for the previous financial year. Steps are as follows: 1. Go to https://services.gst.gov.in/services/searchtp 2. Enter the GSTIN for which you want to check the frequency and enter the captcha 3. Go to the bottom of the page and click on 'Show Return Filling Frequency'

 📌 Good News : Negative Liability is removed from cash ledger of composition Taxpayers 📰 GST Council in it's 47th meeting asked GSTN to expeditiously resolve the issue of negative balance in Electronic Cash Ledger of composition taxpayers. As a result, GSTN has removed the negative liability balance from the cash ledger Source: GST Portal Date:08/07/2022 https://twitter.com/NarayanAgarwala/status/1545316995738251265?s=20&t=GmeEqg1FaTfc2ODrqt0w6Q

  Addition of 6% tax rate in GSTR-1 online 01/06/2022 It may be noted that 6% tax rate has been added in the item details section of all the tables of form GSTR-1, except HSN table 12. In case your outward supplies attracts 6% tax rate, you are required to upload the details against 6% tax rate in the item details section. In respect to HSN table 12 of form GSTR-1, 6% tax rate shall be added shortly. Meanwhile, you may report the HSN details of supplies attracting 6% tax rate under tax rate 5% by updating the values/tax amounts as per the actual supplies made by you.