Some of the most significant updates have been made to the GST Portal in last week which contains various specific features. These advanced updates will bring great relief to taxpayers.
Every time a particular bank option is selected while a taxpayer pays off his/her GST liabilities. But now, keeping in view at taxpayers’ ease it has been updated in the Preferred Banks list for that taxpayer. Up to six Preferred Banks will be shown in the option while making e-Payment on the GST Portal.
The previous restrictions for applying for a refund on a quarterly basis for taxpayers who file GSTR-1 quarterly has now been completely removed.
If Form GSTR-1 for the quarter is filed, such taxpayers shall now be able to file refund application every month. FAQs and User Manual for Refund Module can be accessed at www.gst.gov.in/help/refund on the GST portal.
The application for appeal should be submitted to the First Appellate Authority by the petitioner (the Taxpayer or the Tax Department). The petitioner (Appellant) also needs to submit the certified copies just within 7 days from the date of application or within the allowable time frame. The Appellate Authority may either admit the appeal by issuing the final acknowledgment or reject the application too.
If the Appellate Authority fails to issue the final
Keeping in view at taxpayer’s convenience the following APIs (Application Program Interface) have already been released now –
Previously, while filing GSTR-7 system checks whether the total deducted amount is 2% of the taxable value or not.
Earlier, taxpayers used to enter the complete details of outward supplies such as invoice number, date, quantity, value, Tax, HSN code, and Consignee GSTIN etc. while generating E-Way Bills or outward supply.
But now, taxpayers shall be able to import these details of outward supply invoices easily, (as indicated in the E-Way Bill) at the time of preparing GSTR-1, just only by clicking the “import EWB Data” button, on the GST portal.
The “Import EWB Data” button on the GST portal has now been added in the following titles on the GSTR-1 page itself.
The whole GST system is being made more convenient and transparent. The process of implementing new features and advanced applications is being done on regular basis. In coming days, these regular updates will help the department (Govt. of India) establishing a bold, techno-driven, convenient and transparent tax system in India by strengthening the GST structure. And, especially, this excellent move for upgrading the GST Portal will bring a great sigh of relief to small and medium industries in India.