• Parag Negi
  • 30-Jun-2019

11 NEW FEATURES OF GSTN THAT EVERYONE NEED TO KNOW

There are 11 new features of GSTN that everyone should need to know in 2019.
INTRODUCTION-
There have been various new updates on the GST portal  during the last few months. The portal keeps on adding new updates to help the taxpayers file their returns more effortlessly and sucessfully. Taxpayers need to be updated so that they could avoid missing missing out on the important comliances, which would help to prevent notices being issued.
INCORPORATING GSTIN-
Taxpayers can now enter the GSTIN  while filling a refund application which can be filled by a registered taxpayer for the collected input tax credit. Now the website provide the function for the taxpayers to enter GSTIN in the inward supply detailed statement while filling the same on the GST portal.
QUARTERLY FILERS-
Now quarterly fillers have the option to file the refund applications monthly which were not possible earlier. To file a refund application, a taxpayer has to ensure that the GSTR-1 for the quarter has been filled prior. Businesses and SME"s can assemble their cash flows as they arent required to wait until the end of  of the quarter to apply for the tax input credit.
 


E-WAY BILL-
The portal is now intergrated with the e-way bill to allow users the option to import their data. Users can now import B2b and B2C invoices, and HSN-wise-summary of outward supplies automatically.
GSTR-9 AND GSTR-9A-
The GSTR-9 is the annual form for regular taxpayers while the GSTR-9A is the annual return form for composition taxpayers.
PREFERRED BANKS
There are total six prefered banks which are available and saved while making the payments. The bank details are saved in the portal and the user just needs to select  from the drop down menu.
COMPARISON OF LAIBILITY DECLARED AND THE INPUT TAX CREDIT-
The website allows the tax fillers to compare their GSTR-3B tax laibilties with the GSTR-1 that has been filled. Similarly, the user can also compare their input tax credit claimed in the GSTR-3B with the credit available in the GSTR-2A.
Their are four various tabs through which the data validitation and comparison can take place.
1. Liabilty other than export/ reverse charge.
2. ITC credit claimed and due
3.Laibilty due to export and sez Supplies
4.Laibilties due to reverse charge
TDS/TCS CREDITS-
The GST website now has the function to claim TDS/TCS credits while filling for GST returns. Although it is optional and totally dependant on the taxpayer whether they want to accept or reject the credits and they are further taken to the next step which is tax ledger.
SHOW CAUSE NOTICES-
Now there is easy function through which taxpayers can respond to show cause notices whcih have been issued for compulsary withdrawl from the composition scheme. Ifa show cause notice has been raised and the procedings for the same have started then there is an option to reply on the same website.
BANK ACCOUNT INFORMATION-
Regular OIDAR and NRTP taxpayers now have the option to declare their bank details at the time of registration and can even submit it later. This option is beneficial for new businesses as a GST registration number can be  availed without the trouble of opening a bank accouct first.
INPUT TAX-
The website has opened the option to claim input tax which was earlier closed. It also offers B2B invoices of the FY 2017-18 to be amended. In the recent 35th GST council meeting the due date for filling annual returns has been extended till august 30, 2019.