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#GST Update: As per recent update at E- Way bill portal, the login of E-way Bill will be blocked for all the assesses who has not filed their GSTR 3B ( GST Liability and Payment Return) for consecutive months of August and September, 2019. Cautionary Message has been started to pop up while doing login at portal. Hence, file your pending returns till September 2019 if not filed yet.


Notification No. 49/2019 - Central Tax, can be summarized as below: GST ITC in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers in GSTR-1, shall not exceed 20% of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers in GSTR-1. As a result of this amendment, regular matching of ITC with the details available in GSTR-2A will become necessary. Follow-up with non-compliant suppliers to be done on a regular basis now. For EG: If “A” is taxpayer and has GST ITC of Rs. 2,50,000/- in books. But the ITC as appearing in GSTR-2A is 2,00,000. So as per new notification maximum permissible ITC to “A” is Rs. 2,00,000+20% i.e. Rs. 2,40,000. So, “A” cannot claim balance mismatched ITC of Rs.10,000/- i.e. (2,50,000-2,40,000) and such claim would be disallowed and needs to be claimed when matched in future. MESSAGE: IN VIEW OF THIS, ALL THE CLIENTS ARE HIGHLY ADVISED TO HAVE IN-HOUSE/SELF SYSTEM OF VERIFICATION OF GST2A i.e. VERIFY YOUR GST INPUT AS PER BOOKS AGAINST THE SAME APPEARING ON GST PORTAL.

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