CA Harsh Singhal

CA Harsh Singhal

5/21/2025, 6:32:00 PM

ITR UPDATE 🚨

CA Harsh Singhal

2/22/2025, 11:10:54 AM

After successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025. In this phase manual entry of HSN has been replaced by choosing correct HSN from given Drop down. Also, Table-12 has been bifurcated into two tabs namely B2B and B2C, to report these supplies separately. Further, validation regarding values of the supplies and tax amounts involved in the same, have also been introduced for both the tabs of Table-12. However in initial period these validations have been kept in warning mode only, which means failing the validation will not be a blocker for filling of GSTR-1& 1A

CA Harsh Singhal

2/7/2025, 4:38:45 AM

GST PORTAL UPDATE – RAJASTHAN: ✅ New "State-Specific Information" tab added in GST REG-01 (New Registration) Application ✅ Electricity Board selection & entering Elec. Consumer Number is MANDATORY. ✅ Other details like Professional Tax & State Excise Number are optional.

CA Harsh Singhal

2/8/2025, 7:02:07 AM

Taxpayers to Manually Verify E-Invoices Data dated 4th Jan and 16th Jan 2025; Data not Auto-Populated in GSTR-1 The Goods and Service Tax Network (GSTN) recently issued an advisory in which it is advised businesses that filed their GSTR-1 sales return e-invoices on January 4th and 16th, 2025, to manually verify whether the information had been correctly reflected on the GST Portal due to a technical error that prevented auto-population of the return. The GSTR-1 is a monthly sales return that registered companies must file to report their outward supplies and sales of goods and services they provide. The GSTR-1 includes information about invoices issued, exports, debit or credit notes, and any advances received or adjusted against earlier purchases. Sellers that properly file the GSTR-1 return allow purchasers to claim Input Tax Credit (ITC) after proper reconciliation. The GSTR-1 is filed monthly or quarterly, and the data is automatically provided in the recipient’s GSTR-2A and GSTR-2B. Errors in GSTR-1 might cause mismatches, compromising ITC claims and compliance. Under normal conditions, once the GSTR-1 is filed, it can display any of the following messages: Auto-populated/Deleted/Auto-population or deletion failed. The latest advisory advises businesses filing GSTR-1 to manually verify whether the e-invoices from January 4th and 16th are appropriately recorded in the GSTR-1 return. Taxpayers should double-check their e-invoice data using the following steps: Businesses can download the excel file to validate e-invoice details from the GST portal and ensure that all invoices are properly submitted. Before filing, double-check the auto-populated data and ensure that no invoices are missing from GSTR-1. If invoices for January 4 and January 16 are not displayed, taxpayers should manually enter the required information. GSTN has not yet specified whether any penalties will be imposed for failing to provide the auto-populated data, but taxpayers should verify the Portal to rule out any discrepancies. With the GSTR-1 filing deadline for January 2025 coming on February 11, taxpayers should be proactive in verifying their data to minimize irregularities in ITC claims and compliance concerns.

CA Harsh Singhal

2/18/2025, 4:27:43 AM

Agriculture Income as per New Income Tax Bill 2025