The CBIC had earlier this month allowed the filing of ‘NIL’ GSTR-3B (abstract gross sales return) by SMS. With this, businesses with nil or site (your input here) no entry in all of the tables in type, GSTR-3B can file the return through SMS using the registered cell number and the said return can be verified by one-time password (OTP) facility.
In case of supply of providers, the bill is to be issued within 30 days from the date of provide. For small dealers, if the amount of bill is lower than Rs 200, then no invoice is to be issued. If the quantity of invoice exceeds Rs. 200 then it’s mandatory to organize ‘Tax invoice’.
The quantity included in export of bonds ought to be estimated based on liability primarily based on the estimation of the same as the self has been assessed by the exporter. Export bonds must be geared up with non-judicial stamp paper of value relevant in that state through which the bond is being furnished. As well as, exporters can present a running bond, so that export bonds should not executed for each and every export transaction. However, if the excellent tax liability on the export is greater than the quantity of the bond at any time, then the exporter has to submit a recent bond to cover extra liability.
GSTR-9 have to be filed on or earlier than 31 December of the next 12 months. Enable API access to connect your Zoho Books organization with the GST portal (ignore if you’ve enabled entry already). Log in to the GST Portal. Click My Profile in the highest right nook. Click Manage API Access from the short Links tab.
How to prepare and file GSTR-9? Whatever you declare within the Annual returns have a long run impression. Any wrong or hid information can levy tax, curiosity, and penalties on the identical; along with the lengthy-time period liability of litigation expenses that observe years later. The principal supply for getting ready GSTR-9 will likely be GSTR-1 and GSTR-3B returns. Every reality and determine have to be duly verified with the accounting information earlier than declaring in annual returns.