Namaskar!

Do you know that we are almost sitting on the deadline for filing the GSTR 3B return for your Business?

Click here to check the Due dates for your Business!

But you must be wondering that this happens every month and what's new?

The GST department had made a lot of changes in operations and new ways of analyzing Businesses.

To make you aware of all these changes, we are here with the GSTR 3B Facts series, which talks of all these changes.

In this Email, we talk about the first Fact/Consequence of not filing the return on time.

Registration Suspension notice on the grounds of Mismatch

Click to Read 

Rule 21(2A) of CGST Rules 2017

The outward supply that is reflected in GSTR 1 and the Input Tax Credit, as reflected in GSTR 2A is compared by the Govt. software with the value reflected in GSTR 3B using EDW-ADVAIT Mechanism.

If there is a significant mismatch between the two figures, the GST officer has the power to suspend your Registration Certificate and then send you a notice to understand the reasons as per the Rule 21(2A) in form REG 31.

Click to Read

FORM REG 31

The worst part is that unlike all other laws where the accused is given a chance of explaining his/her case before getting the punishment, the GST law allows the officers to punish Businesses with suspension before giving them a chance to explain the errors.

The Govt. is also on track to further develop sophisticated systems which are capable of identifying pattern disruptions with the power of AI and BI.

The same kind of issues can arise with late filing of the returns.

What can/should I do?

With regulations becoming stricter by the day, it is imperative for you to also improve the way you manage your Tax Data and Business.

You must use GST software that reconciles GSTR 2A, GSTR 1 and GSTR 3B at all times and inform you of issues just as they happen. Your software must identify key ratios and identify red flags so that you can take action and rectify mistakes before the Department.

We at GST DOST have worked day and night to develop software capable of identifying red flags early on and helping Business prevent mistakes and issues.

If you have doubts of filing GSTR 3B or are not confident about reconciliation and wish to solidify your grasp on the Business and Data,

Contact GST DOST, and we help you get a holistic view of how the Department sees your Business and prevent all kinds of issues that can happen in the future!!!

T: 90 8888 3000

E: support@gstdost.com

www.askdost.com

Stay Safe and Stay Healthy.

Regards 

Team GST DOST