GST Insights 🇮🇳
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Join us for real-time updates, inside stories, market intelligence & all that you need to know about India's landmark tax reform. #GST #GSTreforms
India
Joined November 2016
You asked for it, we listened. and now it’s here!. Introducing GST Insights, now on WhatsApp. Message us on to get real-time updates, inside stories, market intelligence on GST, right on your mobile.
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DATE EXTENSION FOR FILING GSTR-3B.
DATE EXTENSION FOR FILING GSTR-3B. For GST taxpayers located in Mumbai City, Mumbai Suburban, Thane, Raigad & Palghar Districts of Maharashtra the due date for filing FORM GSTR-3B for the month of July 2025 is extended till 27th August 2025 owing to incessant rains and disruption.
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Transparency meets tech in the latest GSTN update!. Soon, every time your ASP (via GSP) accesses your GST data using OTP consent, you’ll be instantly notified via SMS & Email. Yes, you’ll know who, when, and for how long your data is being accessed. What’s more:. 📜 View all
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You don’t become CA when you pass the exams. You become one somewhere in the middle. The skipped birthdays, the late-night breakdowns, those 'maybe I’m not good enough' moments but still showing up next day, failing in a subject and registering again anyway… that’s when
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Rejected invoice? You can still fix it!. GSTN clarifies the steps on handling inadvertent rejections in IMS. Clear rules, cleaner compliance. ℹ️
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Not Sure? Mark it Pending. GSTN gets real. 🟡 Starting from the July 2025, the GSTN is set to roll out a major update to the IMS - and it's all about giving you more control. 🟡 With the new ⏸️ Pending option, credit notes will get a much-needed decision buffer between ✔️.
In the rules expected to be notified soon for giving effect to the IMS framework, CBIC is likely to allow up to two months to the taxpayers to take actions on the credit notes reported by suppliers, and adjust their input tax credits. 👉 As per the FAQs released by GSTN earlier,
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Phase III for reporting HSN codes in GSTR-1/1A will be applicable from April 2025 return period. 🟡 HSN codes will have to be selected from the pre-defined list. 🟡 Value of outward supplies will be matched with HSN summary. In the initial months, validation will not be a.
Phase III for reporting of HSN codes in GSTR-1/1A has likely been deferred. The update got updated, once again!. #IYKYK
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GSTN's advisory on reporting values in Table 3.2 of GSTR-3B. Here's what's changing:. 👉 Details of inter-state supplies made to unregistered persons, composition taxpayers, and UIN holders generated by system and populated in table 3.2 of GSTR-3B will be made non-editable 🔒. ↳.
The update that got updated! #IYKYK. The recent GSTIN advisories have created quite a stir with converting the feature introduced way back as ‘auto-population’ to ‘auto-finalisation’ of the returns, while allowing the edits through non-mandatory forms and features. The revised
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In the rules expected to be notified soon for giving effect to the IMS framework, CBIC is likely to allow up to two months to the taxpayers to take actions on the credit notes reported by suppliers, and adjust their input tax credits. 👉 As per the FAQs released by GSTN earlier,
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Phase III for reporting of HSN codes in GSTR-1/1A has likely been deferred. The update got updated, once again!. #IYKYK
Phase III for reporting HSN codes in GSTR-1/1A will be applicable from February 2025 return period. Previously it was to be made applicable from January 2025 return period. 🟡 HSN codes will have to be selected from the pre-defined list. 🟡 Value of outward supplies will be
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The PDF of this update is available for download at
linkedin.com
GST Updates from the #UnionBudget2025 Here's a quick rundown of the key changes you need to know: 🟡 Input Tax Credit on Construction: Retrospective amendment in Section 17(5)(d) clarifies that ITC...
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🟡 SEZ/FTWZ Supplies: Supplies of goods warehoused in SEZs/FTWZs before clearance for export or DTA are now included in Schedule III, treated neither as supply of goods nor services, retrospectively from July 2017. No refunds for taxes already collected.
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🟡 Track and Trace Mechanism: Section 148A empowers the government to implement a track and trace system for specified evasion-prone goods using unique identification markings, with penalties for contravention.
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🟡 Pre-deposit for Penalty Appeals: 10% of the penalty amount is required for appeals before appellate authorities, and an additional 10% for appeals to the appellate tribunal, with no cap on the total pre-deposit.
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🟡 Invoice Management System (IMS): Legal framework introduced for GSTR-2B generation based on taxpayer actions in the IMS, rather than auto-generation. GSTR-3B filing will be enabled only after GSTR-2B generation.
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🟡 Credit Note: Amendments to Section 34(2) will allow supplier to reduce output tax liability via credit notes subject to ITC reversal by recipient (if registered).
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🟡 ITC Distribution via ISD: Effective April 1, 2025, input tax credit on common input services procured centrally, including inter-state supplies under reverse charge, must be distributed through the Input Service Distributor (ISD) mechanism.
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🟡 Input Tax Credit on Construction: Retrospective amendment in Section 17(5)(d) clarifies that ITC is not allowed on construction of immovable property (buildings, warehouses, etc.), aligning with legislative intent and reversing the Supreme Court decision in Safari Retreats.
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