Blocking Of E-way Bill Generation Facility Resumed

 


Due to the epidemic, the government has temporarily blocked permitting taxpayers to generate E-way bills. The taxpayers were greatly relieved by this suspension since it saved them the inconvenience of having to unlock E-way bills that had been blocked for non-compliance.

However, the most recent GST advisory, which was made public on August 4th, 2021, noted that, in accordance with Rules 138 E (a) and (b) of the CGST Rules, 2017, the blocking of the E-way Bill (EWB) generating facility has restarted after August 15th, 2021. 

Thus, starting on August 15th, the system will examine the validity of any returns or statements submitted using Form GST CMP-08 or Form GSTR-3B, and it will prevent the creation of EWB under the following circumstances:

●     Two or more Form GSTR-3B returns that are due (monthly or quarterly, as applicable) but are not filed for tax periods that expire in June 2021.

●     For the quarters up to June 2021, failure to file two or more statements on Form GST CMP-08. 

Taxpayers must periodically submit Form GST CMP-08 Statements and pending Form GSTR 3B returns to use the E-way Bill generating feature on the E-way Bill Portal. These returns may need to be submitted monthly or quarterly, depending on the circumstances.

 Why is GSTIN blocked for E-Way Bill Generation?

Many times, whether on purpose or unintentionally, a taxpayer is unable to submit his GST returns. The buyer, however, is unable to submit an ITC claim for the taxes he has already paid due to these missing invoices. The banning of GSTIN for the creation of E-way bills is also promoted as an anti-evasion tool to boost revenue and GST compliance. 

How to Unblock GSTIN for E-way Bill Generation?

If you file your GSTR-3B Return/Statement on FORM CMP-08 and the defaults in return filing are decreased to fewer than two tax periods, your ability to generate E-Way Bills on the EWB Portal will automatically be unblocked. You may also submit an online request for the unblocking of the E-way Bill generation function to your jurisdictional tax official using Form GST EWB 05.


Original Source : Blocking Of E-way Bill Generation Facility Resumed


Comments

Post a Comment

Popular posts from this blog

A stepwise guide to building wealth

Image
  Many aspire to acquire the desired wealth in order to lead a life full of financial freedom. However, the common misconception associated with wealth accumulation  is that it is only achievable for the rich. This is not true. Everyone has a chance to accumulate wealth. It may seems difficult right now, but with the proper steps, you will be able to save enough to lead the lifestyle you have dreamed of. Read further to know the following steps to kickstart your wealth building journey. Update your budget The first step to building wealth is to understand how you are spending your money, what you are spending on and your overall budget. This will give you a better idea about the proportion of income that you spend or save on a regular basis. Things that you need to keep a look out for are fixed expenses such as loans, mortgage, rent, etc. You may also want to reduce expenses that may not be necessary. By figuring out your budget, you can decide on how much you wish to add to savings or
Read more

Benefits of GST: What Are the Advantages & Disadvantages in India

Image
  The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The consumer pays the GST at the time of purchase. The GST replaces other indirect taxes, such as the value-added tax (VAT), service tax, luxury tax, octroi, and entry tax. The GST was introduced in India on 1 July 2017. It is a comprehensive indirect tax on manufacturing, selling, and consuming goods and services throughout India to make India a unified market. The GST levies all supplies of goods and services except those specifically exempted. Benefits of GST When it comes to the benefits of GST, there are quite a few. For starters, GST is expected to make India a unified market. This means that businesses will no longer have to pay multiple taxes on the same product or service. GST is also expected to reduce the overall tax burden on businesses, making it easier for them to do business in India. Additionally, GST is expected to lead to increased compliance with
Read more

5 Things To Know About Retirement Insurance In Singapore

Image
  A retirement insurance plan is one of the ways to save up for the golden years of your life. These plans are designed to give you a regular monthly income upon maturity. This income can help you stay financially independent in your senior years. Are you hearing about retirement insurance for the first time? If so, this article is just for you. Read on to discover 5 things you need to know about retirement insurance in Singapore. 1.     You can customise the payout period One of the best things about retirement insurance plans is that you can customise the payout period as per your requirement. You can start receiving your payouts from the age of 50 years based on your preferred payout period. Most insurers offer payout periods of 10, 15, 20, 25, and 30 years. 2.     Continue receiving stable monthly income despite market volatility Some insurers also safeguard your payout against market volatility. This is good news for you as you will get to maintain a stable income in yo
Read more