Key Takeaways A tax officer under the GST regime is responsible for issuing form DRC-01A as an intimation to taxpayers for non-payment of taxes or incorrect ITC (Input Tax Credit) claims. Further, the tax officer issues a show cause notice in Form DRC-01 if the taxpayer has not responded to the intimation in Form DRC-01A. […]
Key Takeaways Taxpayers receive form DRC-04 from the GST authorities when they fully pay the tax dues. The tax officer issues form DRC-04 in GST when the claims in show cause notice and the payment received from taxpayers with respect to the notice match. If there is a mismatch, the GST officer will not issue […]
Key Takeaways After a financial year ends, the GST Council conducts a detailed audit to identify the tax shortfall of registered persons. The CGST Rule 142(2) and (3) imposes the necessity of filing DRC-03 in GST to indicate any discrepancy found in this GST audit. This guide comprises key details about the DRC-03 form and […]
Key Takeaways A new method to cure ITC mismatches between Form GSTR-3B and GSTR-2B was notified at the 50th GST Council meeting. This assembly took place on July 11, 2023. Afterwards, Rule 88D of the CGST Act enabled the taxation system to forward intimations to all registered persons automatically. This 38/2023 Notification helped to restrict […]
by Key Takeaways Under the GST law, there is a levy of tax on all taxable supplies made within a defined period by the taxpayer. For intrastate supply of goods and services, both CGST and SGST are applicable, while for inter-state supplies, IGST is charged by the taxpayer when issuing the payment of invoice. To comply […]
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