What is GSTR-2A and how to download it with HostBooks GST Software?
February 11, 2019
Highlights of 33rd GST Council Meet
February 22, 2019

6 Major changes in GST Portal to Help Small Businesses

Source: TaxGuru

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.

The important updates made in the GST portal are as follows:

1. Option to choose a Bank while making Payment:

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.

2. Monthly Refund Applications by quarterly GSTR-1 filers:

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.

3. Appeals filed by Tax-payer/department shall get Auto approval

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 acknowledgment to the petitioner within the stipulated period, a system generated final acknowledgment will now be issued to the appellant with a remark “subject to validation of certified copies”.

4. APIs for Assessment and judgment released

Keeping in view at taxpayer’s convenience the following APIs (Application Program Interface) have already been released now –

  • Assessment of non-filers of Returns
  • Summary Assessment
  • Rectification of mistakes

5. Removal of 2% validation in GSTR – 7

Previously, while filing GSTR-7 system checks whether the total deducted amount is 2% of the taxable value or not.

  • The burden of checking table 3 and 4 in Form GSTR-7 has now been completely eliminated. TDS (Tax Deducted at Source) deductor will be free to report any value in CGST, SGST or IGST columns. The system will not check whether the amount reported is 2% of the amount paid to the deductee or not and if the CGST as well as if SGST is deducted equally or not. The same provision is implemented in offline utility too.

6. The population of data from E-Way Bill into GSTR-1

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.

  • 4A, 4B, 4C, 6B, 6C – B2B invoices
  • 5A, 5B – B2C (Large) invoices
  • 12 – HSN wise summary of outward supplies

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.

Arpita Bora is leading the content writing team at HostBooks Limited. She has pursued her Masters in Commerce. With over 4.5 years of experience in technical and creative writing, she specializes in both long and short-form digital content.

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