GSTR-2A is a system generated ‘draft’ Statement of purchase related tax return for a Receiver Taxpayer. When a seller files his GSTR-1, the information is captured in GSTR-2A. It takes information on goods and/or services which have been purchased in a given month from the seller’s GSTR-1.
GST reconciliation primarily involves matching the data uploaded by the suppliers with those of the recipient’s purchase data. This basically includes comparing the GSTR–2A auto-populated from suppliers data and the purchase data recorded by the receiver of the supplies.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART H, SECTION 3, SUBSECTION (ii)]
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes NOTIFICATION no-75/2019
New Delhi, the ~f September, 2019
S.O ……….. (E).- In exercise of the powers conferred under sub-section (2) of section 139AA of the Incometax Act, 1961 (,Act’)(43 of 1961), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue) dated 31st March,2019, published in the Gazette of Indi a, Extraordinary, Part-II, Section 3, sub-section (ii) vide S.O. number 149S(E) dated OPt Apri1,2019.
In the said notification : – (i) in paragraph 1, 30th September, 2019 shall be substituted by 31 st December, 2019; (ii) in paragraph 3, 30.09.2019 shall be substituted by 31St December, 2019.
(Rajarajeswari R.) Under Secretary to the Government of India (F. No. 225/75/2019-ITA.II)
Interest for defaults in furnishing return of income.
234A. (1) Where the return of income for any assessment year under sub-section (1) or sub-section (4) of section 139, or in response to a notice under sub-section (1) of section 142, is furnished after the due date, or is not furnished, the assessee shall be liable to pay simple interest at the rate of one per cent for every month or part of a month comprised in the period commencing on the date immediately following the due date, and,—
(a) where the return is furnished after the due date, ending on the date of furnishing of the return; or (b) where no return has been furnished, ending on the date of completion of the assessment under section 144, on the amount of the tax on the total income as determined under sub-section (1) of section 143, and where a regular assessment is made, on the amount of the tax on the total income determined under regular assessment, as reduced by the amount of,— (i) advance tax, if any, paid; (ii) any tax deducted or collected at source; 58[(iia) any relief of tax allowed under section 89;] (iii) any relief of tax allowed under section 90 on account of tax paid in a country outside India; (iv) any relief of tax allowed under section 90A on account of tax paid in a specified territory outside India referred to in that section; (v) any deduction, from the Indian income-tax payable, allowed under section 91, on account of tax paid in a country outside India; and (vi) any tax credit allowed to be set off in accordance with the provisions of section 115JAA or section 115JD.
Explanation 1.—In this section, “due date” means the date specified in sub-section (1) of section 139 as applicable in the case of the assessee. Explanation 2.—In this sub-section, “tax on the total income as determined under sub-section (1) of section 143” shall not include the additional income-tax, if any, payable under section 143.
Explanation 3.—Where, in relation to an assessment year, an assessment is made for the first time under section 147 or section 153A, the assessment so made shall be regarded as a regular assessment for the purposes of this section.
Explanation 4.—[* * ] (2) The interest payable under sub-section (1) shall be reduced by the interest, if any, paid under section 140A towards the interest chargeable under this section. (3) Where the return of income for any assessment year, required by a notice under section 148 or section 153A issued after the determination of income under sub-section (1) of section 143 or after the completion of an assessment under sub-section (3) of section 143 or section 144 or section 147, is furnished after the expiry of the time allowed under such notice, or is not furnished, the assessee shall be liable to pay simple interest at the rate of one per cent for every month or part of a month comprised in the period commencing on the day immediately following the expiry of the time allowed as aforesaid, and,— (a) where the return is furnished after the expiry of the time aforesaid, ending on the date of furnishing the return; or (b) where no return has been furnished, ending on the date of completion of the reassessment or recomputation under section 147 or reassessment under section 153A, on the amount by which the tax on the total income determined on the basis of such reassessment or recomputation exceeds the tax on the total income determined under sub-section (1) of section 143 or on the basis of the earlier assessment aforesaid. Explanation.—[ * *]
(4) Where as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264 or an order of the Settlement Commission under sub-section (4) of section 245D, the amount of tax on which interest was payable under subsection (1) or sub-section (3) of this section has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and— (i) in a case where the interest is increased, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly; (ii) in a case where the interest is reduced, the excess interest paid, if any, shall be refunded. (5) The provisions of this section shall apply in respect of assessments for the assessment year commencing on the 1st day of April, 1989 and subsequent assessment years
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Indirect Taxes and Customs] Notification No. 42/2019 – Central Tax
New Delhi, the 24th September, 2019
G.S.R. ….(E).— In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby appoints the 24th day of September, 2019, as the date on which the provisions of rules 10, 11, 12 and 26 of the Central Goods and Services Tax (Fourth Amendment) Rules, 2019 [notification No. 31/2019– Central Tax, dated the 28th June, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 457(E), dated the 28th June, 2019], shall come into force.
[F. No. 20/06/12/2018-GST] (Ruchi Bisht) Under Secretary to the Government of India
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 31st March, 2019 PRESS RELEASE
It has been reported in some sections of the media that those PANs which are not linked with Aadhaar number by 31.03.2019 may be invalidated. The matter has been considered by the Central Government and now the cut-off date for intimating the Aadhaar number and linking PAN with Aadhaar is 30.09.2019, unless specifically exempted. Notwithstanding the last date of intimating/linking of Aadhaar Number with PAN being 30.09.2019, it is also made clear that w.e.f. 01.04.2019, it is mandatory to quote and link Aadhaar number while filing the return of income, unless specifically exempted. (Surabhi Ahluwalia)
Commissioner of Income Tax (Media & Technical Policy) Official Spokesperson, CBDT.