GST Return 3B

NIL monthly GST return 3B can now be filed through SMS

What is GSTR 3B (Monthly Return):-

Every GST registered business is require to file monthly return in Form GSTR 3B, whether NIL business transaction or higher business transaction during the previous month. Within 20 days after the closure of month, mandatory to file form GSTR 3B.

if failure to file the same, there is penalty on the per days basis till the date it is filed. Next month return can't be filed without paying the penalty of last return. 

Hence every business registered under GST must file GSTR 3B on time to avoid penalty.

How to file GSTR 3B monthly return:-    

Monthly GST return can be filed by himself, GST professionals, accounts staff, through various other online tools available in the market. 

For filing the GST Return login on the portal is require & for that need computer, internet connection etc. 

It has been noticed that if business transactions is there, then business owner is ready to take services from GST professionals but if there is NIL transaction & business not running, he/she not willing to take services of GST professionals. 

Also its difficult for business owner to pay penalty after few months & then he/she has to close his/her business.

 Process to file monthly GST return by SMS

This is the new system developed by GSTN for filing monthly GST return by SMS only, this will ease the process of return filing. Now return can be filed himself without any issue. 

This facility is available only for NIL Liability returns. Now following steps to be followed to file GST return via SMS

 

 The status of the return sol filed can be tracked on the GST Portal by logging into GSTIN account and navigating to Services>Returns>Track Return Status.

 Conclusion:-

Filing of NIL GST return is just a simple task, no expert or calculation or extra efforts required, hence if this process is made simple & easy, it will benefit a lot to taxpayer. Reduce the non compliance. Will increase the number of returns filing. Return can be filed by a layman also.

 Source:-Press Release by Ministry of Finance dt 08th June 2020.

  

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DISCLAIMER:- THE ARTICLE HAS BEEN WRITTEN BY SUDHIR ARYA, COMPANY SECRETARY IN PRACTICE & STARTUP CONSULTANT. DUE CARE HAS BEEN TAKEN TO ENSURE THE CORRECTNESS OF INFORMATION. IT'S BASED ON THE RELEVANT INFORMATION AVAILABLE AT THE TIME OF WRITING IT. HOWEVER, THIS ARTICLE CAN'T BE CONSTRUCTED AS LEGAL OPINION AND WRITER WILL NOT BE LIABLE FOR ANY DIRECT OR INDIRECT RESULT FROM THIS ARTICLE. THIS ARTICLE IS ONLY FOR KNOWLEDGE SHARING INITIATIVE.

ANY SUGGESTIONS ARE WELCOME TO INCREASE THE EFFECTIVENESS OF THE ARTICLE. FOR ANY QUERY OR SUGGESTION WRITER CAN BE REACHED AT MAILTOSUDHIRARYA@GMAIL.COM OR WWW.SUDHIRARYA.COM

PAN CARD ONLINE

FREE PAN CARD BY GOVT OF INDIA

As announced by the Finance Minister Mrs. Nirmala Sitaraman in budget announcement. Instant PAN (Real time Basis) allotment with Aadhaar card.

Also this is free of cost. No fee is payable for it.

This facility is made available to public at large in India from today onwards. Earlier it was under beta testing trial basis. After successful trial of it, it is now available to public. Its easy & paperless process. Issued within 10 minutes.

Approx 50.52 crore PAN cards issued in India till now & still more to be issued. After this easy process of PAN Allotment, more people will attract & get issued for themselves. 

Who can apply?

Any individual having valid Aadhaar card & Mobile No registered/Linked with Aadhaar card can apply. Hence must be Individual, Must have valid Aadhaar card & must have mobile no registered with Aadhaar card. All three conditions must be satisfied. If any condition is not fulfilled then he/she cant apply for the same.

How to apply?

Process to apply for PAN with Aadhaar card is so easy, you have to just follow these simple 5 steps to get it issued. 

1. Visit https://www.incometaxindiaefiling.gov.in

2. Click on Tab Instant PAN through Aadhaar, available at left side of the screen

3. Click on Get New PAN Option available at new page.

4. Now Enter your Aadhar no, Validate through OTP, Validate Aadhaar detail, Validate email id(optional) 

5. Get PAN.

The e-PAN is also sent to the applicant on his/her email id. if it is registered with Aadhaar.

The launch of the instant PAN facility is yet another step by the Income Tax department towards Digital India. It's so easy to get PAN for individuals. 

This initiative taken by income tax department will provide huge benefit to public at large, as approx all citizens in India have Aadhaar card now days. Also by this Income Tax department will attract more people to take PAN card & also increase the number of ITR filing as well.

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DISCLAIMER:- THE ARTICLE HAS BEEN WRITTEN BY SUDHIR ARYA, COMPANY SECRETARY IN PRACTICE & STARTUP CONSULTANT. DUE CARE HAS BEEN TAKEN TO ENSURE THE CORRECTNESS OF INFORMATION. IT'S BASED ON THE RELEVANT INFORMATION AVAILABLE AT THE TIME OF WRITING IT. HOWEVER, THIS ARTICLE CAN'T BE CONSTRUCTED AS LEGAL OPINION AND WRITER WILL NOT BE LIABLE FOR ANY DIRECT OR INDIRECT RESULT FROM THIS ARTICLE. THIS ARTICLE IS ONLY FOR KNOWLEDGE SHARING INITIATIVE.

ANY SUGGESTIONS ARE WELCOME TO INCREASE THE EFFECTIVENESS OF THE ARTICLE. FOR ANY QUERY OR SUGGESTION WRITER CAN BE REACHED AT MAILTOSUDHIRARYA@GMAIL.COM OR WWW.SUDHIRARYA.COM