GST Info Tamil

  What is form DRC-03? DRC-03  is a  voluntary tax payment form  in which a taxpayer can pay the tax by raising its liability voluntarily or in response to the show-cause notice (SCN) raised by the GST department. DRC-03 is a form under the GST law that is required to be filed for voluntary tax payments towards demand or tax shortfall noticed later on after the time limit to file returns of a financial year expires. CGST Rule 142(2) and (3) entails filing of this form. Below is the format of Form DRC-03: The following are the causes for making payment under DRC-03: 1. Audit/Reconciliation Statement:  Where the GST auditor has for the financial year under audit, discovered any case of short payment of tax, interest or penalties or excess claim of the input tax credit, and the time limit to report the same in GST returns is expired, the taxpayer must make voluntary payment in DRC-03 and report it in  GSTR-9 . GST Auditor should report it in GSTR-9C too. 2. In...

New changes in GSTR-1; Table 14 and Table 15 are added in the GST Portal The GSTN added two new tables in GSTR-1 starting from January 2024 onwards. Table 14 – Supplies Made Through E-Commerce Operators (In this table, you can add details of taxable outward supplies made through e-commerce operator.) Table 15 - Supplies under Section 9(5) of the CGST Act (In this table, you can add details of taxable outward supplies on which the e-commerce operator is liable to pay tax under Section 9(5) of the CGST Act.) In GSTR – 3B, Table 3.1.1 addresses supplies notified under Section 9(5) of the CGST Act, 2017. This table requires suppliers and e-commerce operators (ECOs) to separately report supplies on which the e-commerce operator is liable to pay tax. Previously, GSTR-1 did not have specific tables for reporting these transactions separately. As a result, Table 3.1.1 in GSTR-3B was not auto-filled due to the absence of corresponding reporting sections. Starting from January 2024, GSTR-1 has i...