With the evolution of GST law, compliance was the primary concern for the law makers. By the passing of time, fake billing and tax evaders also found a good share in the market as their was numerous loops in law and its implementation.
To overcome all such issues, so many measures taken by government like, e-way bill, e-invoicing, GSTR-2A, GSTR-2B, Rule 36, Rule 86B, order of utilization of ITC, etc.
Among others, Following is the gist of recent decisions being implemented by government are as follows :-
- If you have not filed your GSTR-3B for previous tax period, you can not file GSTR-1 for current tax period.
- If you file GSTR-3B with different value as compared to GSTR-1, your registration may be suspended.
- If you have not filed your GSTR-3B/GSTR-1 for two consecutive tax periods, your account to generate E-Way bills would be blocked.
- Once your registration suspended due to any reason, your account to generate E-Way bills would be blocked.
- You can not claim ITC more than that is available in GSTR-2B. Due to this, it is mandatory to file GSTR-1 by a supplier by the due date.
- If you have turnover of more than 50 Lakh in a particular month, you can settle tax liability towards output tax from E-Credit Ledger only up to the extent of 99% of such tax . Balance 1% must be paid in cash. (Some exceptions are there to this rule)
- If you forgot an invoice to report in GST return for the same tax period to which it belongs to, the interest shall be calculated at the gross value of tax even if it is paid through Credit Ledger only in the tax period in which it is reported.
- If you don’t add your Bank Account in your registered account on GST portal within prescribed period, your registration may be suspended/cancelled.
- Display Board is mandatory at every place of business at prominent place.
- Every place of business shall be registered in your GST records. Otherwise, any transfer of goods/services between said places shall be liable to GST and furthermore ITC would not be available.