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  All about GSTR 2B “GSTR 2B will help the government as well as the assessees in matching the input and output of ITC in forms GSTR 3B, GSTR-1, and GSTR 2A, accordingly. ” The main feature of the new form GSTR 2B return is that it will be generated monthly, just like the other GST return filing forms. A PDF and email feature is also added to the form for the ease of assessee. The form will show whether ITC is available to the assessee or not. The form will summarise the ITC credits attached with GSTR 3B. The assessee can download the form in PDF or EXCEL file form anytime he wants. The advance search and filter option in the form will also help the assessee to view documents beyond 1,000 records. GSTR-2B will be available from July 2020 onwards. It can be generated by recipient taxpayers once a month on the 12th for the previous month. For instance: GSTR 2B for July 2020 can be accessed on 12th August 2020. The timelines for the generation of GSTR-2B can be checked out...

What is PMT-09 ? Form GST PMT-09 is a challan that enables a registered taxpayer to transfer any amount of tax, interest, penalty, fee or any other amount available under one head (major or minor) to another head (major or minor) as available in the electronic cash ledger. Thus, such a form allows a taxpayer to perform intra head or inter head transfer of amount as available in electronic cash ledger. Many times mistakes or errors occur by the tax payers while preparing the GST challan. Sometime the taxpayers pay the amount under the wrong head and it cannot be used to discharge the liability that may be due under the other head. In such cases the taxpayers has to claim the refund. The process of filing the refund claim and its disbursement may lead to blockage of funds for the tax payers. Here the Form GST-PMT-09 becomes useful. Form GST PMT-09 Format-   Important Notes -> 1. If wrong tax has already been utilized for making any...

Press Release- The government plans to improve existing GST return filing system instead of rolling out a new model. The new system was supposed to be launched on 1 October this year. Yogendra Garg, Principal Commissioner, GST Policy at CBIC, while speaking at a webinar hosted by Assocham, said that the move is aimed at making compliance much easier. The GST Network, the IT support of the GST regime, is working on modifying and improving the current returns and will soon announce an advanced version of the existing system. They are going to introduce a new form GSTR 2B, which like the GSTR 2A will have details of purchases of the company or business with added information on input tax credits. The existing GSTR 1 form, which captures sales-related information, will be more detailed. The Form GSTR 3B, which gives the tax computation, will be auto-populated. New features likely to be added in the new improved version of the existing return system include matching tool for comparison of G...