Goods & Service Tax

Important: Urgent GSTR-1 Filing Notice CA R. WADHWA & Associates IMPORTANT: URGENT GSTR-1 FILING NOTICE We are writing to bring to your urgent attention a critical issue regarding the submission of your monthly GST data. We generally receive your details for GSTR-1 on the final day, during the last remaining hours before the deadline. While we have managed to process it so far, filing at the absolute deadline poses severe financial risks to your business and strains important client relationships. Please keep the following critical points in mind: Impact on Your Buyers (ITC) GSTR-1 must be filed strictly by the due date. If it is delayed, your buyers will not see the invoices in their GSTR-2B and will be unable to claim their Input Tax Credit (ITC) for the month. This directly affects their cash flow and can severely damage your business relationships. GST ...

Haryana One Time Settlement Scheme 2026 Issued by Excise and Taxation Department, Haryana | Notification No. 07/ST-1 (29th May 2026) Effective from 1st June 2026 What is this scheme? The Haryana Government has launched a One Time Settlement (OTS) Scheme to help businesses and traders clear their old pending tax demands under pre-GST laws in one go — at a substantially reduced amount. Outstanding dues for any period up to 30th June 2017 can be settled by paying only the tax component (after waiver) while getting complete waiver of interest and penalty. The scheme is available for 120 days from 1st June 2026 (i.e. up to 28th September 2026 ). Which Acts are covered? The scheme covers pending dues under the following Haryana/Central Acts applicable up to 30th June 2017: Haryana VAT Act, 2003 Central Sales Tax Act, 1956 Haryana General Sales Tax Act, 1973 Haryana Tax on Luxur...

Advisory regarding confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B-reg Mar 16th, 2026 1. In terms of the provisions of Section 50 of the Central Goods and Services Tax (CGST) Act, 2017, interest is payable where the tax liability pertaining to a previous tax period is discharged in a subsequent tax period. Accordingly, the tab “Tax Liability Breakup, As Applicable” in Form GSTR-3B is meant to capture the tax liability relating to supplies of previous tax periods which are being reported and discharged in the current tax period. 2. From the February 2026 tax period onwards, the GST Portal auto-populates the “Tax Liability Breakup, As Applicable” in GSTR-3B on the basis of the document dates of supplies reported in GSTR-1 / GSTR-1A / IFF, where such supplies pertain to any previous tax period but the corresponding tax liability is being discharged in the current period’s GSTR-3B. 3. Accordingly, from the February 2026 tax period, after offsetting the liability in GSTR-3...

This is the last week of FY 2024-25, and there are certain compliances that need attention. Below is the list of key tasks:     Ø Declaration for Export with payment of tax i.e LUT in Form RFD 11 Ø ⁠E invoicing registration and stand by if the aggregate turnover in FY 2024-25 is exceeding 5 Cr. Ø  Suppliers with outstanding payments for more than 45 days (SME) and 180 days for corrective action and ITC reversal. Ø New Tax Invoice series starting from 01.04.2025 Ø Important reconciliations to be completed and effect is advised to be taken in March 25 GST Returns: Ø ITC availed in GSTR 2B vs GSTR 3B Ø ⁠ITC availed in Books vs GSTR 3B Ø ⁠Outward Supplies as per Books vs GSTR 1 Ø ⁠outward supplies as per GSTR 1 and GSTR 3B Ø ⁠RCM as per Books and GST Returns Ø ⁠ISD as per GSTR 2B and Books/ 3B Ø ⁠1% cash payment under Rule 86B in case monthly sales are more than 50 Lakhs Ø ⁠Annual working of Reversal under Rule 42/43 against exempt supplies Ø ⁠Check supplie...

  SONEPAT TAX BAR ASSOCIATION To Sh. Devinder Singh Kalyan Principal Secretary to Govt. of Haryana Excise and Taxation Department   Subject: Suggestions for Improvement of the GST Portal Respected Sir We as professionals in the field of GST and taxation, have closely observed the functioning of the GST portal and would like to offer a few suggestions to enhance its usability and efficiency. These improvements aim to address practical issues faced by taxpayers and professionals while ensuring a seamless experience on the portal.   Field/Window for Uploading Documents During Registration: Currently, there is no specific field or window to upload supporting documents when an assessee applies for registration. Adding such a feature will ensure that all necessary documents are submitted with the application, thereby reducing the chances of queries or rejections.   Preview and Download Option for Applications Before Submission : A preview button...

 The GST Council met for the 55th time on December 21, 2024 in Jaisalmer and made recommendations on various matters including legislative changes, GST rates on specified goods and services, clarifications on contentious issues, measures aimed at trade facilitation. The GST Council, however, deferred several decisions like overall rate rationalisation, GST on life and health insurance premiums etc. This Alert gives an insight on the key recommendations from this meeting: A. Legislative Changes A1. ITC on construction of immovable property Ø   Section 17(5)(d) of the Central Goods and Services Tax Act, 2017 (‘CGST Act’) to be amended to replace the phrase ‘plant or machinery’ with the phrase ‘plant and machinery’ retrospectively, effective from July 1, 2017. Resultantly, the ITC restriction under Section 17(5)(d) will also be read with the Explanation defining ‘plant and machinery’, as provided under Section 17. Ø   This proposal comes in the light of recently pron...