Category Archives: GST

GSTR3B filing & Input tax Credit on Adverstisement and Sales promotion Expenses I CA Satbir Singh

New I GST under RCM on Personal bank Guarantee by Director to Bank for company loan / limit I

New GST Ledger ITC Reversal and Reclaimed Statement I GSTR 3B filing warning I CA Satbir Singh

Ministry of Finance ₹1,59,069 crore gross GST revenue collected during August 2023; records 11% Year-on-Year growth GST Revenues from domestic transactions (including import of services) are 14% higher Year-on-Year Posted On: 01 SEP 2023 4:51PM by PIB Delhi The gross GST revenue collected in the month of August, 2023 is ₹1,59,069 crore of which CGST is ₹28,328 crore,… Read More »

Introducing Electronic Credit Reversal and Reclaimed statement 31/08/2023 “Vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 (read with circular 170/02/2022-GST, Dated 6th July,2022), the Government introduced certain changes in Table 4 of Form GSTR-3B so as to enable the taxpayers in reporting correct information regarding ITC availed, ITC reversal, ITC re-claimed and… Read More »

Big Change on GST Portal I New Tab for ITC Reversal Opening balance Reporting I CA Satbir Singh

Advisory on Reporting of ITC Reversal opening Balance Please read the following advisory carefully before proceeding ahead for reporting the ITC Reversal opening balance: Taxpayers are permitted to use this facility to report their ITC Reversal Balance that has not been re-claimed. The taxpayer is advised to report solely those reclaimable ITC reversal balances that… Read More »