Taxpayer Can Now Compare Tax Liability In GST Returns

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Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns
The GST council has brought required amendments on GST portal every once in a while so as to diminish the problems of traders who have GST registration. The Common portal (i.e. GST portal) is regularly improvised so as to exclude technical problems that delay the critical processes, in particular the GST return filing procedure.

Recently, new feature has been added. The regular taxpayers would now be able to analyze and download a month to month report on GST liability, as confirmed in GSTR-1 just as stated and paid in their GSTR-3B return.

1.Why this feature was brought?

This new feature will presently facilitate the taxpayers to inspect the 2 GST liabilities (the one in GSTR-1 and 3B) in extraordinary way.

GST liabilities in each of these GST returns would now be able to be compared. This will definitely assist taxpayers having GST registration to correct any confusion between the two gst returns filed.

2.How we might access this feature?

This new feature can be easily seen in GST portal. These are the steps involved-

  • Sign on to GST portal.
  • Go to Returns dashboard on the GST Portal.
  • Go on the tab-“Comparison of liability declared and ITC claimed”.
  • You have now accessed the functionality.

3.Will this actually enable people to guarantee their Input?

Yes of course!

  • Ordinary taxpayers have been given access to data related to information of Input tax credit (ITC) as claimed in their GSTR 3B and as accrued in GSTR 2A.
  • In this manner, presently the taxpayers can see both these information and can easily compare the credit unused by them. They can likewise guarantee the unutilized input credit.

4.Whether this feature can be availed offline also?

Yes of course!

The detail provided under this column can like wise be downloaded in Excel file. This Excel file can be viewed and analyzed later on.

5.What to do if in which GST is paid on reverse charge basis?

Typical Taxpayers have likewise been given in this facility to see the GST liability paid due to reverse charge as declared, and GST paid in Form GSTR 3B and that accrued in GSTR 2A. This is due to transferring of such details by the supplier in Form GSTR-1.

6.Where can I access this feature?

This functionality is present there in the Returns dashboard at the GST Portal under the tab-“Comparison of liability declared & ITC claimed.”

7.Where would i be able to discover IGST liability in case of exports?

Ordinary Taxpayer can likewise view and compare the IGST liability.

  • This is the liability related to exports & SEZ supply as entered in his GSTR-3B return amid the month and in GSTR-1 (Zero-rated supplies).
  • Very essentially, the benefits of this new functionality must be availed just if GST returns GSTR-1 and B are appropriately filed.
  • You should do regular GST return filing procedure. besides you should do proper GST invoicing with the end goal of GST return filing.

Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns
Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability In GST Returns
Taxpayer Can Now Compare Tax Liability In GST Returns
Taxpayer Can Now Compare Tax Liability In GST Returns

Taxpayer Can Now Compare Tax Liability
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