Tuesday, 24 January, 2023
  • OMICRON
  • COVID-19
  • Omicron Variant India
  • India Omicron Cases
  • UP Assembly election 2022
  • Narendra Modi
AnyTV News
No Result
View All Result
  • Latest News
    • India
    • Regional
    • World
  • Top News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Technology
    • Mobile
    • Gadgets
    • Internet
  • More
    • Lifestyle
    • Health
    • Automobiles
    • Education
    • Viral News
    • Web Stories
Hindi
  • Latest News
    • India
    • Regional
    • World
  • Top News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Technology
    • Mobile
    • Gadgets
    • Internet
  • More
    • Lifestyle
    • Health
    • Automobiles
    • Education
    • Viral News
    • Web Stories
Hindi
No Result
View All Result
AnyTV News
  • Latest News
  • Top News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Technology
  • Lifestyle
  • Health
  • Automobiles
  • Education
  • Viral News
  • Web Stories
Home Business

Input Tax Credit: There may be change in the monthly tax payment form, fake bills will be banned

by AnyTV
25/06/2022
in Business, Latest News
Reading Time: 3 mins read
0
A A


hear the news

hear the news

The GST Council may consider changes in the monthly tax payment form GSTR-3B. This will include a column of supply figures and tax payments relating to the sales return, which cannot be changed later. The next meeting of the Council will be held on 28-29 June in Chandigarh.

Changes in Form GSTR-3B will help in curbing counterfeit bills. There are times when sellers show excess sales in GSTR-1 and based on this, the buyer of goods can claim Input Tax Credit (ITC). Whereas in GSTR-3B, less sales are shown so that GST has to be paid less. In the present GSTR-3B, the details of input tax credit are generated automatically. According to officials, with this change, there will be less information on the part of the user in GSTR-3B and the process of filing will also be easier.

many changes possible
AMRG Associate Partner Rajat Mohan said that in this meeting, there may be changes in tax filing for e-commerce operators providing passenger transport services, accommodation services, housekeeping and cloud kitchen services. These companies will now be liable to furnish information on behalf of the suppliers in their GSTR-1 and GSTR-3B in separate columns. In this, companies like Uber, Swiggy and Zomato will also come under the ambit.

Council will give clarification
Along with this, the council can also give clarification in some cases. In this, the GST on the advertisement given in the souvenirs will be 5 percent or 18 percent, clarification will also come on this. 5 per cent GST is applicable on advertisements in print media and on the same basis, 5 per cent tax can be levied on souvenirs.

Expansion

The GST Council may consider changes in the monthly tax payment form GSTR-3B. This will include a column of supply figures and tax payments relating to the sales return, which cannot be changed later. The next meeting of the Council will be held on 28-29 June in Chandigarh.

Changes in Form GSTR-3B will help in curbing counterfeit bills. There are times when sellers show excess sales in GSTR-1 and based on this, the buyer of goods can claim Input Tax Credit (ITC). Whereas in GSTR-3B, less sales are shown so that GST has to be paid less. In the present GSTR-3B, the details of input tax credit are generated automatically. According to officials, with this change, there will be less information on the part of the user in GSTR-3B and the process of filing will also be easier.

many changes possible

AMRG Associate Partner Rajat Mohan said that in this meeting, there may be changes in tax filing for e-commerce operators providing passenger transport services, accommodation services, housekeeping and cloud kitchen services. These companies will now be liable to furnish information on behalf of the suppliers in their GSTR-1 and GSTR-3B in separate columns. In this, companies like Uber, Swiggy and Zomato will also come under the ambit.

Council will give clarification

Along with this, the council can also give clarification in some cases. In this, the GST on the advertisement given in the souvenirs will be 5 percent or 18 percent, clarification will also come on this. 5 per cent GST is applicable on advertisements in print media and on the same basis, 5 per cent tax can be levied on souvenirs.

EDITOR'SPICK

Excise Duty Hike: Excise duty increased on petrol, diesel and ATF, this will affect the general public

Share Market Opening: Sensex and Nifty again in red mark, Sensex fell at 52645 and Nifty at 15660

Petrol Diesel Price: Petrol-Diesel prices have not changed even today, know how much are the prices in your city

Tags: bannedbillsBusiness Diary Hindi NewsBusiness Diary News in HindiBusiness News in HindichangecreditfakeformGSTgstrgstr-3binputinput tax creditmonthlymonthly tax paymentmonthly tax payment formpaymenttax
ShareTweetShareSendSend

Related Posts

Excise Duty Hike: Excise duty increased on petrol, diesel and ATF, this will affect the general public

01/07/2022
3

Share Market Opening: Sensex and Nifty again in red mark, Sensex fell at 52645 and Nifty at 15660

01/07/2022
1

Petrol Diesel Price: Petrol-Diesel prices have not changed even today, know how much are the prices in your city

01/07/2022
3

RBI-SBI report: Women more powerful in transactions with banks, double the share in depositing money

01/07/2022
4

RecentNews

  • All
  • Latest News
Apart from KL Rahul, this cricketer has also become son-in-law of Bollywood, the list is long

Apart from KL Rahul, this cricketer has also become son-in-law of Bollywood, the list is long

24/01/2023
5
After Air India urine scandal, now accused of touching SpiceJet crew member in a dirty way, passenger was taken off the plane after an uproar

After Air India urine scandal, now accused of touching SpiceJet crew member in a dirty way, passenger was taken off the plane after an uproar

24/01/2023
7

Suryakumar Yadav: ‘He should come back soon…!’ Team India reached Mahakaleshwar to wish for Pant’s speedy recovery, prayed

24/01/2023
5
Threat to life of 'Gandhi-Godse' director Rajkumar Santoshi, received such threat

Threat to life of ‘Gandhi-Godse’ director Rajkumar Santoshi, received such threat

23/01/2023
6
Kiren Rijiju

Union Law Minister’s big statement on collegium system, said- Once you become a judge..!

23/01/2023
6

POPULAR STORIES

  • Cricket: Australia ready for tri-series with India-Pakistan, supports Rameez Raja’s proposal

    331 shares
    Share 132 Tweet 83
  • World Archery Para Championships: Para archer Pooja Jaatyan creates history by winning silver medal, the first Indian to do so

    247 shares
    Share 99 Tweet 62
  • Big blow to accused Vijay Nair in Delhi excise policy alleged scam case, court refuses bail

    7 shares
    Share 3 Tweet 2
  • Another video of Anjali Arora is becoming increasingly viral, the senses will be blown away.

    95 shares
    Share 38 Tweet 24
  • Who is Mukesh Ambani’s future daughter-in-law Radhika Merchant Here Is All You Need to Know About Radhika know everything

    16 shares
    Share 6 Tweet 4
AnyTV News

AnyTV News is the news magazine, which brings the most reliable, authentic and unbiased news to its dedicated readership.

READ MORE »

Recent Posts

  • Apart from KL Rahul, this cricketer has also become son-in-law of Bollywood, the list is long
  • After Air India urine scandal, now accused of touching SpiceJet crew member in a dirty way, passenger was taken off the plane after an uproar
  • Suryakumar Yadav: ‘He should come back soon…!’ Team India reached Mahakaleshwar to wish for Pant’s speedy recovery, prayed

Categories

  • Automobiles
  • Business
  • DIY
  • Education
  • Entertainment
  • Gadgets
  • Health
  • India
  • Internet
  • Latest News
  • Lifestyle
  • Mobile
  • Opinion
  • Politics
  • Regional
  • Sports
  • Technology
  • Top News
  • Uncategorized
  • Viral News
  • World
  • About Us
  • Advertise With Us
  • Disclaimer
  • Privacy Policy
  • DMCA Policy
  • Contact Us

© 2023 AnyTV News

No Result
View All Result
  • Latest News
    • India
    • Regional
    • World
  • Top News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Technology
    • Mobile
    • Gadgets
    • Internet
  • Lifestyle
  • Health
  • Automobiles
  • Education
  • Viral News
  • Web Stories

© 2023 AnyTV News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version