Reetu | Aug 5, 2024 |
Recent Important GST Advisory issued in August and July 2024
The Goods and Services Tax Network (GSTN) has issued various in the recent past to make certain changes in GST compliances. It includes Changes in GSTR-8, Biometric-Based Aadhaar Authentication, FAQs on filing of GSTR-1A and Document Verification for GST Registration etc.
Let’s undertsand them in details.
Form GSTR-8 is a Statement of TCS (Tax Collected at Source) to be filed by E-Commerce Operators.
This advisory on Changes in GSTR-8 is the effect of the decision taken by the council members of GST in the recently held GST Council Meeting.
The Advisory reads as follows:
Please refer to the GST Council decision to the effect that the TCS rate has been reduced from the current 1% (0.5% CGST + 0.5% SGST/UTGST, or 1% IGST) to 0.5% (0.25% CGST + 0.25% SGST/UTGST, or 0.5% IGST) effective from 10/07/2024 vide Notification No. 15/2024 dated 10.07.2024.
Thus, the following important aspects regarding the TCS rates effective from 10.07.2024 are to be noticed:
Period from 1st July to 9th July 2024:
During this period, the old TCS rate of 1% will continue to apply. Taxpayers are required to collect & report TCS at this rate for all transactions that happened between these dates.
From 10th July 2024 onwards:
A revised TCS rate of 0.5% will come into effect from 10th July 2024. Taxpayers must ensure their systems and processes are updated to reflect this new rate for all transactions that happened from 10th July forward.
Furthermore, as a few taxpayers have reported validation errors while filing GSTR-8 for the month of July 2024, it is to inform you that the GSTN team is working on the changes announced by the GST Council in respect of GSTR-8, which are expected to be completed in the next few days, and users will be able to file returns beginning August 6, 2024, at midnight. We apologize for any inconvenience this may have caused.
This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.
Rule 8 of the CGST Rules, 2017 has been amended to state that an applicant can be identified on the common portal based on data analysis and risk parameters for Biometric-based Aadhaar Authentication and taking a photograph of the applicant, as well as verifying the original copy of the documents uploaded with the application.
GSTN developed the aforementioned functionalities. It was launched in Jammu and Kashmir and West Bengal on August 2, 2024.
The said functionalities also allow for document verification and appointment booking process. After the submission of the application in Form GST REG-01, the applicant will receive either of the following links in the e-mail,
(a) A Link for OTP-based Aadhaar Authentication OR
(b) A link to book an appointment with a message to visit a GST Suvidha Kendra (GSK), along with the GSK’s location and jurisdiction, for biometric-based Aadhaar authentication and document verification.
If the applicant receives the link for OTP-based Aadhaar authentication as described in point 3(a), she or he can proceed with the application as usual.
However, if the applicant receives the link stated in point 3(b), she or he must schedule an appointment to visit the chosen GSK using the link given in the e-mail. Once the applicant receives appointment confirmation via e-mail (the appointment confirmation e-mail), she or he will be allowed to visit the specified GSK on the date and time chosen.
At the time of the visit of GSK, the applicant is required to carry the following details.
(a) a copy (hard/soft) of the appointment confirmation e-mail
(b) the details of jurisdiction as mentioned in the intimation e-mail
(c) Aadhaar Card and PAN Card (Original Copies)
(d) the original documents that were uploaded with the application, as communicated by the intimation e-mail.
The GSK will perform biometric authentication and document verification for all relevant individuals in accordance with GST application Form REG-01.
The applicant must schedule a biometric verification appointment within the maximum time frame specified in the notification e-mail. In such circumstances, ARNs would be generated after the biometric-based Aadhaar authentication and document verification processes are finished.
The feature of arranging an appointment to visit a chosen GSK is now available to applicants from Jammu & Kashmir and West Bengal.
GSKs will operate within the days and hours specified by the administration in your state.
Form GSTR-1A has been made available to taxpayers for the July 2024 tax period, as directed by the government in notification no. 12/2024 dated July 10, 2024.
GSTR-1A is an optional tool that allows you to add, amend, or correct any details of a supply reported/missed in the current tax period’s GSTR-1 before filing the GSTR-3B return for the same tax period.
GSTR-1A shall be open for the taxpayer after the filing of GSTR-1 of a tax period or after the due date of GSTR-1 whichever is later.
Detailed manual for filing GSTR-1A – Click Here
FAQ on Filing GSTR-1A – Click Here
This is to provide taxpayers with updates on recent advancements in the GST registration application process. It is recommended that you keep the following factors in mind during the registration procedure.
Rule 8 of the CGST Rules, 2017 has been amended to state that an applicant can be discovered on the common portal based on data analysis and risk factors for Biometric-based Aadhaar Authentication, as well as taking a photograph of the applicant and verifying the original copy of the documents uploaded with the application.
The above-said functionality has been developed by GSTN. It has been rolled out in Uttarakhand on 28th July 2024.
The said functionality also provides for the document verification and appointment booking process. After the submission of the application in Form GST REG-01, the applicant will receive either of the following links in the e-mail.
(a) A Link for OTP-based Aadhaar Authentication OR
(b) A link for booking an appointment with a message to visit a GST Suvidha Kendra (GSK) along with the details of the GSK and jurisdiction, for Biometric-based Aadhaar Authentication and document verification (the intimation e-mail).
If the applicant gets the link for OTP-based Aadhaar authentication as described in point 3(a), she or he can proceed with the application as usual.
Nevertheless, if the applicant receives the link stated in point 3(b), she or he will be required to arrange an appointment to visit the chosen GSK using the link supplied in the email. Once the applicant receives the appointment confirmation e-mail, she or he will be able to visit the designated GSK pursuant to the schedule chosen.
The applicant must bring the following data with them when they visit GSK:
(a) a copy (hard/soft) of the appointment confirmation e-mail
(b) the details of jurisdiction as mentioned in the intimation e-mail
(c) Aadhaar Card and PAN Card (Original Copies)
(d) the actual documents that were uploaded with the application, as specified in the intimation e-mail.
The GSK will conduct biometric authentication and document verification for all relevant individuals in compliance with GST application Form REG-01.
The applicant must arrange a biometric verification appointment within the maximum time frame provided in the confirmation e-mail. In this case, ARNs would be generated after the biometric-based Aadhaar authentication and document verification processes have ended.
The biometric authentication and document verification will be done at the GSK, for all the required individuals as per the GST application Form REG-01.
The operation days and hours of GSKs will be as per the guidelines provided by the administration in your respective state.
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
