Since its inception, the GST law have been ever evolving with new updates taking place every now and then. Therefore, it becomes very necessary to be familiar with the new changes well in time so as to avoid any non-compliance.
The new year also welcomed some of the recent changes in the GST portal as well as law. Let’s take a look over the new updates:
1. Implementation of Rule-59(6), as amended, on GST Portal
- Through this amendment, the words “for the preceding month” have been substituted for the words “for preceding two months”, with effect from 1st January 2022. Under this amendment, the tax payer would not be allowed to file his GSTR-1 for a subsequent month in case he has not filed the GSTR-3B for the preceding month. In this case, the tax payer has to file the GSTR-3B first, to be eligible to file his GSTR-1. This law would be applicable from January 1, 2022.
- The GST portal is on its way to develop itself to enable such a filing and will be in implementation shortly.
- Therefore, it is in the benefit of the tax payers to ensure timely filing of GSTR-1 and GSTR-3B in order to avoid any inconvenience in this respect.
2. Under section 9(5) / 5(5), the supplies shall be reported by E-commerce Operator in the form GSTR-3B
- This section has notified the restaurant services as well as other services notified earlier such as motor cabs, accommodation and housekeeping services wherein the tax on such supplies shall be borne by electronic commerce operator in case the supplies are made through it.
- As per the new changes, the tax on the restaurant services will now be paid in the hands of the electronic operator with effect from January 1, 2022.
- In light of the above, the reporting of such supplies shall be done by the e-commerce operators or the registered persons under section 9(5) of CGST Act, 2017[1].
3. The changes in the Module containing new functionalities on the GST Portal for taxpayers
The GST portal is in the continuous process of implementing new functionalities from time to time for its stakeholders. Different modules for functionalities namely Registration, Advance Ruling, Returns, Payment, Refund and other related topics are timely updated. The GST portal is also well versed with various videos and modules for in-depth learning through various webinars conducted on the above functionalities.
4. Advisory on Revamped Search HSN Code Functionality
The GST portal has recently launched a revamped and enhancedversion of Search HSN Functionality
- The Search HSN Code functionality has been developed to the extent that the taxpayers can search the HSN code and the applicable Technical description through common trade description of the goods/ services as they are known in the general Trade. The taxpayers can search HSN Code by providing the description or a small part of a description.
- The GST stakeholders can avail the facility at both pre-login as well as post login using the navigation as below:
Home>Services>User services>Search HSN Code
The search can be conducted based upon the following two parameters:
i) Search of description based upon HSN:
a. Taxpayer can search for any HSN Code belonging to any goods and/or services.
b. If the search is based upon the HSN, then only numbers are allowed to be entered in the search box .
c. the auto-suggested dropdown would show five nearest possible descriptions on entering of HSN in search box.
d. The most relevant suggestion can then be selected by the tax payer.
ii) Search facility for HSN based upon Trade/ Commercial/ Technical Description:
a. Both technical and/or trade descriptions of the requisite goods or services can be entered by the taxpayer in the search box.
b. On selecting the ‘Description’ option, they need to select between the goods or the services.
c. the auto-suggested dropdown would show five nearest possible descriptions on entering of HSN in search box.
d. The most relevant suggestion of HSN and description paid can then be selected by the tax payer.
5. Upcoming functionality – Interest Calculator in GSTR-3B
- A new functionality of interest calculator is being released in GSTR-3B in order to facilitate the tax-payers in doing a correct self-assessment.
- When the tax-payer will declare its tax liability, the system would compute the interest under this functionality.
- The appliable interest , if any, on the tax liability declared in GSTR-3B of a particular tax-period will be computed after the filing of said GSTR-3B.
- This functionality provider a user-friendly interface to the taxpayers, wherein they are informed regarding manner of system computation of interest values for each tax-head.
- The taxpayers are also assisted in doing correct computation of interest for liability of any past period declared in GSTR-3B for the current tax period, on the basis of details furnished by them on the portal.
So, these were some of the recent update on the GST portal which require our attention in order to be properly implemented.
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