New Functionalities deployed in GST Portal for GST Registration and GST Return Filing

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New Functionalities deployed in GST Portal for making the process easier for taxpayers. The GSTN says that several new features for GST stakeholders are occasionally put into practice on the GST Portal. In this article, we will also read some significant new functionalities deployed in the GST Portal.

New Functionalities deployed regarding GST Registration and GST Return filing for May 2021

The time for filing the ‘Application for Revocation of Cancellation’ has been extended. It is open for those applicants for whom the due date to file the same falls between 15th April to 30th May 2021. The extension date is 31st May 2021.

Furthermore, Taxpayers registered under the Companies Act, 2013 can promptly file their Form GSTR-1 and Form GSTR-3B with EVC, aside from filing it with Digital Signature Certification(DSC), till 31st May 2021, as notified by the Government.

Consequently, These features are for various modules such as GST registration, gst returns, advance notice, payment, reimbursement, and several other subjects.

New Functionalities deployed in GST Portal to Check Last 5 GST Returns

There is another function where the assessee can now see their returns for the last five return periods. This return calendar will assist every GST Registered business and professionals in checking the past five return periods, which help evade any penalty or late fees.

Further New Functionalities deployed in GST Portal

The Government has declared several relaxations in the filing of returns and further GST-linked compliances by taxpayers. It is done on account of the current CoronaVirus pandemic. Let us look at the same.

Generation of GSTR-2B for April 2021

Notification No. 12/2021-CT and 13/2021-CT, both were notified on 1st May 2021. These notifications extend the Due date of GSTR-1 and IFF for April 2021 to 26th and 28th May 2021, respectively. Consequently, GSTR-2B for April 2021 will be made after the Due dates, on 29th May 2021.

Waiver of interest and late fee for ordinary taxpayers

The Indian Government gave a relaxation from the debt of interest and late payment to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May 2021, vide Notification Nos. 18/2021 & 19/2021, both date on 1st June 2021.

GST Late Fee Reduced on GST Late Return filing: New Amnesty Scheme

After a long wait and a delay in GST return filing caused by complexity in GST return filing compliances, GST Council has capped the late fees on GST return filing in the 43rd GST Council Meeting which was held online.

GST Portal Enabled LUT Filing Feature (LUT)

Now that the new feature (LUT) for all the taxpayers has been activated on the GST Portal. Taxpayers can now furnish a letter of undertaking for the fiscal year 2021-2022 in the GSTN portal as new functionalities have been deployed in the GST Portal.

 

GST Rates Reduced in 43rd GST Council Meeting

If you want any other guidance related to GST Registration or GST Return filing, please feel free to talk to our business advisors at 8881-069-069.

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