Latest GST News, Circulars & Tax Law Updates

GST – GSTN issued advisory of new Functionalities that are made available for Taxpayers on GST Portal during September, 2022 – ITC to be correctly reported as per updated Table 4 of GSTR-3B - Enabled taxpayers to apply for refund for any period beginning July, 2017, on account of a court order/amnesty scheme - Functionality introduced to modify the amount declared in undertaking PMT-03 (Order of recredit of rejected refund), and many more [Advisory attached dated 06 October 2022]

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07-Oct-2022 08:06:51

Key pointers

The Government vide Notification No. 14/2022 – Central Tax dated 05th July, 2022, has notified few changes in Table 4 of Form GSTR-3B for enabling taxpayers to correctly report information regarding ITC availed, ITC reversal and ineligible ITC in Table 4 of GSTR-3B.
The Notified changes of Table 4 of GSTR-3B have been incorporated in GSTR-3B and are available on GST Portal since 01.09.2022. The taxpayers are advised to report their ITC availment, reversal of ITC and ineligible ITC correctly as per new format of Table 4 of GSTR-3B at GST Portal for the GSTR-3B to be filed for the period August 2022 onwards.
The GST portal is configured to allow taxpayers to file an application for refund for up to previous 60 months. To enable taxpayers to apply for refund for any period beginning July, 2017, on account of a court order/amnesty scheme, the period beginning from July, 2017, onwards has been made available for selection by taxpayers.
In cases where the refund amount claimed by a taxpayer is partially /fully rejected by the tax officer, the rejected/inadmissible refund amount is re-credited to the respective ledger from which it was debited earlier, by tax officer in Form GST PMT – 03. This amount is re-credited only after the taxpayer submits an undertaking for not filing an appeal for the entire/part of the inadmissible amount. The taxpayers have now been provided with a functionality to modify the amount declared by them in the undertaking if they had committed a mistake while entering the amount, earlier.
Certain new items have been added to the restrictive list displayed to the applicants while applying for registration if they opt for composition levy, as per new items have been added to the restrictive list displayed to the applicants while applying for registration if they opt for composition levy, as per Notification No. 04/2022-Central Tax dated 31st March 2022 and Notification No. 43/2019-Central Tax, dated 30th Sept 2019.
While filing clarification in Form REG-04, whenever the applicant clicks on any tab in Registration module, he/she would be displayed a pop-up window with following two options - “Open All Allowed Fields” and “Open fields with Queries raised through REG-03”.