Common mistakes in filing GSTR returns which needed to avoid

[ad_1] What is Common errors in filing of GSTR returns which needed to avoid. Prior to the GST regime, there was the VAT system, which enabled for returns to be amended if an error was detected. Despite the fact that the GST Act has been in effect for three years, those who are registered under it continue to make numerous errors while filing their GST reports. To avoid departmental lawsuit, it’s critical to file GST returns as accurately as possible. Since there is no provision under GST law for amending a…

GSTR-2B – GST ITC available when reflected in GSTR 2A/2B

[ad_1] GSTR-2B : Hon’ble Finance Minister, Nirmala Sitharaman, in the Budget 2021-22, proposed changes through the Finance Bill, 202 to include a new condition for availing ITC under the Central Goods and Services Tax Act, 2017 amends. The new condition for availing ITC is as follows: “In section 16(2) of the CGST Act, after clause (a), it was proposed to insert a new clause ‘(AA)’ for claiming ITC on the basis of GSTR-2A and newly introduced GSTR Provides an additional condition.-2B, i.e., ITC on an invoice or debit note can…