x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Importance of Co-curricular Activities in Colleges | Jammu & Kashmir’s MSME Sector: A Path to Sustainable Growth | Why is there no space for childhood in newspapers? | DPAP Turns Irrelevant | Doda Police traced out missing person, reunites with his families | One day district level workshop on Panchayat Advancement Index held | Committee on Privileges holds meeting in Srinagar | DLSA organizes One- Day capacity building programme | DC Doda chairs DLIC meeting to approve 66 cases under Mission YUVA | J&K people know Pak is their biggest enemy: LG Sinha | LG reviews progress of Pradhan Mantri TB Mukt Bharat Abhiyaan | Undeterred by threats, devotees flock to Amarnath, one lakh complete journey in 6-days | Swift Police action helps recover elderly Amarnath pilgrim’s bag | E-comm platforms, online payments services being abused for terror financing: FATF | Anti-Constitutional: Farooq Abdullah on revision of electoral rolls in Bihar | CRPF Chief reviews Amarnath Yatra security | 2 held for unauthorised excavation at graveyard | Schools reopen after summer break | 6 drug peddlers held with heroin | Vishwa Yog Sansthan organizes plantation drive in Jammu | Dy CM conducts surprise inspection of CE R&B, PMGSY offices | Jammu police restores Rs 62 lakhs to Hyderabad complainant in landmark case | Devyani Rana assures public on 2nd Toll Plaza in Nagrota Constituency | SSP Kishtwar holds crime review meeting of sub-division Kishtwar | Arvind reviews healthcare upgrade plans at SDH Sarwal | Rana felicitates officials of Wildlife Department at Dachigam | Electoral reforms can't be called Unconstitutional: Kavinder | Satish Sharma launches Kashmir Super League 2025 | Employee under-trial, in a criminal case, is not entitled to salary: HC | Chief Judicial Magistrate sentence six month imprisonment in eve teasing case | Indian Navy signs contract with BEL for implementation of NMDA Project | Puneet Mahajan, meets renowned social activist Sandhya Dhar | MLA Dr. Rameshwar initiates first-ever Hari Prayag Khumb Mela at Bani | DLIC Kupwara approves 72 cases under Mission YUVA scheme | Drug peddler arrested by Udhampur Police | DC Baramulla reviews progress under Capex Budget 2025-26 | JKEDI concludes MDPs in 4 districts, trains 81 entrepreneurs under RAMP | Awareness camp under BBBP held at Hermain Shopian | FVSc and AH, SKUAST-J celebrates World Zoonoses Day- 2025 | Special Lok-Adalat for MACT & Matrimonial Cases on July 26 in Kulgam | DLIC approves 59 cases under Mission Yuva scheme in Ganderbal | The Chatter Box to host Insane Comic on 13th July in Jammu | JU's Bhaderwah Campus unites Global Experts in Ladakh to Address Climate Crisis in the Indian Himalayas | Deepti Sharma rises to 2nd in ICC WT20I rankings, in touching distance of top spot | Govt GLDM Degree College, Hiranagar Featured in "INTACH VIRASAT" Magazine | Central University of Jammu signs MoU with Government Medical College | Desh Bhagat Global School Shines at The Educator Pinnacle Awards-2025 | MCM's Hindi Department fosters literary excellence and cultural pride | Tennis players regularly handle pressure that's comparable to India's WC games vs Pak: Kohli | Back Issues  
 
news details
Taxpayers can amend sales return form
6/23/2024 10:11:36 PM
NEW DELHI, June 23: GST taxpayers will now have the option to amend outward supply or sales return form GSTR-1 before payment of taxes for a month or quarter. The GST Council in its meeting on Saturday had recommended providing a new optional facility by way of Form GSTR-1A to facilitate taxpayers to amend the details in Form GSTR-1 for a tax period and/or to declare additional details.
GSTR-1A will, however, have to be filed before filing of return in GSTR-3B for the said tax period.
This will facilitate the taxpayer to add any particulars of supply of the current tax period missed out in reporting in form GSTR-1 of the said tax period or to amend any particulars already declared in GSTR-1 of the current tax period (including those declared in IFF, for the first and second months of a quarter, if any, for quarterly taxpayers), to ensure that correct liability is auto-populated in GSTR-3B.
Currently, GST taxpayers file outward supply return GSTR -1 by the 11th day of the subsequent month. Taxpayers with an annual turnover of up to Rs 5 crore can file GSTR-1 quarterly within the 13th day of the end of the quarter.
Shardul Amarchand Mangaldas & Co Partner Rajat Bose said this is a positive change recommended by the council from a compliance perspective and will facilitate ease of doing business.
Abhishek Jain, Indirect Tax Head & Partner, KPMG, said allowing revision of filings made in GSTR-1 is a good move to rectify clerical and inadvertent errors before the payment of taxes and curtailing unwarranted notices for reconciliation of disclosures in GSTR-1 and payment of taxes vide GSTR-3B.
“It’ll be interesting to see the mechanism for a population of GSTR-2B for the recipient and the time gap available to the recipient for reconciling credits,” Jain added.
BDO India Indirect Tax Partner Maulik Manakiwala said the introduction of Form GSTR-1A to report particulars which were missed during the submission of GSTR 1 indicates that through proactive consultation with industry, the government’s intention is to simplify GST law and ease compliances for the assessee.
The GST Council also recommended that taxpayers having aggregate annual turnover up to Rs two crore are exempt from filing annual returns in form GSTR-9/9A for the FY 2023-24.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU