Free Demo

Taxpayers can compare tax liability declared in final, summary GST returns forms: GSTN

13-Mar-2019
Taxpayers can compare tax liability declared in final, summary GST returns forms: GSTN

The GST Network on Tuesday said businesses registered under GST can now compare the tax liability declared as well as input tax credit claimed in their final and summary sales returns forms.

The GSTN, which handles the technology backbone for the new indirect tax, has provided a facility to the taxpayers to view and download a report on tax liability as declared in their form GSTR- 1 (final sales return) and as declared and paid in their return filed in form GSTR-3B (summary sales return).

While GSTR-1 for a month is filed by the 11th day of the succeeding month, GSTR-3B is filed and taxes paid by the 20th day of the succeeding month.

GSTN, in a statement said, since GSTR-1 and GSTR-3B are filed independent of each other, a need was felt to provide facility to view liability declared in both the forms at one place.

The new facility enables the taxpayers to view these two liabilities in one table for each return period at one place, which can be compared. This will enable taxpayers to make good of any differences between the two forms filed by them on GST portal, GSTN said.

Further, the GSTN has also provided taxpayers information regarding data of Input tax credit (ITC) as claimed in their form GSTR 3B and as accrued in form GSTR 2A, based on the return uploaded by the supplier.

This functionality has been provided in Returns dashboard on the GST Portal to taxpayers under the headings "Comparison of liability declared and ITC claimed".

"This facility will help taxpayers in reconciling their liability and ITC details quickly. They can view the monthly comparison as well as cumulative comparison upto the month, on the GST Portal in the tables provided. This will help them in taking corrective steps," GSTN CEO Prakash Kumar said.



Source :- Moneycontrol.com

High-volume of Loyal and Trusted Customers!

We feel proud in offering export-import data information services to our respected clients.

Obtain a free import-export sample report on desired products.

We do not provide any assistance directly in selling or Buying any product.

7 + 6

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Top