Question
A monthly self-declaration to be filed for furnishing
summarized details of all outward supplies made, input tax credit claimed, tax liability ascertained and taxes paid under GST is recorded under ______Solution
As per the amendments in GST rule applicable from January 01, 2022, there are two monthly returns (GSTR-1 and GSTR-3B) that a company has to file if the annual turnover is over Rs 5 crore. While the GSTR-1 is a return that shows sales invoices, the GSTR-3B is a self-declared summary GST return filed every month. Therefore, businesses need to ensure there is no mismatch between GSTR-3B and GSTR-1 forms . In case of a mismatch, the government will be empowered to send officials to the corporate premises of an individual to recover GST for the amount of sales on which tax has not been paid. No notice needs to be furnished for the recovery, as per the new rule.
Which country is set to launch Southeast Asia's first high-speed railway, a project backed by China, with a Chinese-made bullet train named "Whoosh"?
In which state did the 36th International Surajkund Mela 2023 start?
What is the location of the 7th edition of 'Ajeya Warrior' bilateral training exercise launched by India and the United Kingdom for 2023?
Who has recently released the 'National Multidimensional Poverty Index'?
Ratapani Wildlife Sanctuary has been declared as a tiger reserve. In which state is it located?
What is the cash prize associated with the International Gandhi Peace Prize awarded by the Government of India?
Ahmed Awad bin Mubarak has been elected as the new Prime Minister of which country?
What significant collaboration was highlighted at the 'Lok Samvardhan Parv' event, and which organizations participated in the marketing linkages?
Which online payment bank become the official digital payments partner for Pradhanmantri Sangrahalaya?
Which bank has tied up with India Post Payments Bank (IPPB) to offer its banking services to the unbanked and underserved segments in semi-urban and rur...