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Input Credit Availment Criteria #GSTR3B Return
1) There is appropriate documentary evidence of such supplies on which input credit is availed i.e., Invoice or Debit note
2) Goods or service or both are received on such supplies for which the credit is claimed
#GST
#Seamless
1) There is appropriate documentary evidence of such supplies on which input credit is availed i.e., Invoice or Debit note
2) Goods or service or both are received on such supplies for which the credit is claimed
#GST
#Seamless
3) Credit claimed in the GSTR 3B Return is reflected on your GSTR 2B
4) The supplier of such supplies has paid tax on such credit availed by you
5) The supplier of such supplies has filed the return on such credit availed by you
#ITC
#compliance
#Harassment
4) The supplier of such supplies has paid tax on such credit availed by you
5) The supplier of such supplies has filed the return on such credit availed by you
#ITC
#compliance
#Harassment
6) The credit availed is not a Restricted credit as per Sec 38 (Additional condition applicable from 01.10.22)
#GST
#seamlessITC
#GST
#seamlessITC
GST is Destination based tax,levied at place of Consumption¬ place of Origin
Sugar,Edible Oils,Tea,Coffee(not instant),taxed at 5%&milk 0%
Average fall in tax rate is 43%+, across array of items,in last 4yrs,thx to #OneNationOneTax executed by @narendramodi govt
My thread👇
Sugar,Edible Oils,Tea,Coffee(not instant),taxed at 5%&milk 0%
Average fall in tax rate is 43%+, across array of items,in last 4yrs,thx to #OneNationOneTax executed by @narendramodi govt
My thread👇
#GST is value added tax&less inflationary;GST rate is multiplied by total pre-tax cost
In case of zero-rated supplies,retail sale is not taxed&firms claim credits for GST paid on inputs
GST was first implemented in 1954& it took a @narendramodi to have it implemented in India💪
In case of zero-rated supplies,retail sale is not taxed&firms claim credits for GST paid on inputs
GST was first implemented in 1954& it took a @narendramodi to have it implemented in India💪
Since Oct 2020,till May 2021,GST Collections have been in excess of Rs 1 lakh Cr,for 8 months in a row, endorsing uptick in economic activity
One Nation One Tax has reduced number of submissions from over 495,to barely 12,ensuring Ease in Tax filing
#4yearsofGST #OneNationOneTax
One Nation One Tax has reduced number of submissions from over 495,to barely 12,ensuring Ease in Tax filing
#4yearsofGST #OneNationOneTax
Date of filing #IncomeTaxReturn for current financial yr,extended from 31stJuly,to 30thNov2020
TaxAudit date for firms,extended from 30thSep,to 31stOct
Date of issuance of Form16 by firms,extended from 30thJune to 15thAug
22 lakh nil return payees,can soon,file #GSTR3B via Sms
TaxAudit date for firms,extended from 30thSep,to 31stOct
Date of issuance of Form16 by firms,extended from 30thJune to 15thAug
22 lakh nil return payees,can soon,file #GSTR3B via Sms
*All the aforesaid dates are with reference to financial year 2019-20,ending on 31st March 2020.
Date for starting operations by new #SEZs,for claiming tax holiday via Sec10AA of IT Act,extended to Sep 30th2020
Linking PAN with #Aadhaar extended to March 31st2021
Date for #SelfAssessment,till 1 lakh, extended to 30thNov2020
No extension of SA for tax liability over 1 lakh
Linking PAN with #Aadhaar extended to March 31st2021
Date for #SelfAssessment,till 1 lakh, extended to 30thNov2020
No extension of SA for tax liability over 1 lakh
The most appreciated part is that this govt always have some unique solutions everytime ✌️👍..
Although some may not work but at least @nsitharaman mam and her team have some out of the box thinking🙌
Although some may not work but at least @nsitharaman mam and her team have some out of the box thinking🙌
#GSTR3B Due Dates
Taxpayer having T/O > 5 Crs - 20th of every month
For T/O < 5 Crs statewise 😳
Maharashtra, Gujarat, Tamilnadu + 12 more - 22nd of every month
Rajasthan, Delhi, UP + others - 24th of every month.
(For state list, refer press release)
*Notification awaited.
Taxpayer having T/O > 5 Crs - 20th of every month
For T/O < 5 Crs statewise 😳
Maharashtra, Gujarat, Tamilnadu + 12 more - 22nd of every month
Rajasthan, Delhi, UP + others - 24th of every month.
(For state list, refer press release)
*Notification awaited.
#GSTR3B due dates as per Map
