New Features Introduced on GST Portal

The GSTN has introduced various new features on the GST portal to promote ease of doing business. So, in this blog, we have compiled all these new features introduced on the GST portal for the benefit of taxpayers.

New Features Introduced on GST Portal 

GST Returns 

The taxpayers under QRMP Scheme have been given an optional IFF, to furnish subtleties of their B2B Invoices and corrections thereto, for the initial 2 months of a quarter. Following amendments can be made in IFF: 

1. Taxpayers would now be able to move the records saved in their IFF of 1st month of a quarter to the IFF of the 2nd month of the quarter. 
2. Taxpayers can likewise move the records saved in IFF of the 1st and 2nd month of the quarter to their quarterly GSTR-1 (of a similar quarter). 
3. While getting ready IFF/GSTR-1 (of later long stretches of the same quarter) on the web, if there should arise an occurrence of saved records, taxpayers will get a pop-up message asking them to either move the records by choosing YES or erase them by choosing NO. 
   Note: Records under the submitted (or documented) stage cannot be moved by above usefulness.
4. Moreover, the GSTR-3B (Quarterly) of the taxpayer under the QRMP scheme will get auto-populated based on the file IFF and GSTR-1 of that particular Quarter. 

GST Refund 

As per this new feature introduced on the GST portal the taxpayer can now file GST RFD-01 without a LUT number for claiming the accumulated input tax credit (ITC) on exempt and nil-rated supplies. However, for claiming accumulated input tax credit (ITC) on exports of goods or/and service without GST payment and supply of goods or/and services to SEZ without GST payment, the taxpayer needs to mention the valid LUT number 

In short, the taxpayer will be asked to choose any of the following two options at the time of filing GST RFD-01 

1. I have a valid LUT number. 
2. I do not have a valid LUT number (for exempt/ nil rated supplies) 

GST Registration 

Timelines for filing of Application for Revocation of Cancellation of Registration in Form GST REG-21 that was due on 15th April 2021, is extended till 30th June 2021 on the GST Portal. 

However, these extensions of date have now ceased to be effective from 1st July 2021. Moreover, the period for filing of GST REG-21 (an application for revocation of canceled GST registration) is now amended to 90 days on the GST Portal. This 90 days period will start from the order date of Cancellation of GST Registration in Form GST REG-19. 

Ledgers 

1. As per this new feature introduced on the GST portal, the taxpayer will be able to view the ledger for 12 months instead of 6 months. Moreover, the taxpayer details can now download the ledgers for 12 months in pdf and Excel formats. 
2. Temporary ID holders and unregistered applicants can now transfer the amount available in the cash ledger between major or/and minor heads using the GST PMT-09 Form. 
3. Now the taxpayers registered under the composition scheme will be able to see the negative liability statement on GST Portal. Moreover, the negative balance showing in the negative liability statement will get auto-adjusted against the tax liabilities of the subsequent tax period(s). 

HSN Directory 

The CBIC has updated the current available HSN Master on the GST portal. As per this new feature introduced on GST Portal, HSN masters now include product names commonly used in Trade against the particular HSN code. In addition, the taxpayer can Search for HSN functionality on the GST Portal, available both in Pre and Post Login. Moreover, now the taxpayer can download the download HSN in Excel Format.