GST News

reversal of ITC on selling of capital goods

New Returns RET 1 , ANX-1,ANX-2 Changes

Please refer to https://taxguru.in/goods-and-service-tax/gst-returns-challenges-july-2019.html

Brief changes summed up as follows:

• HSN number will be 6 digits compulsory
• In case of RCM from Unregistered dealer PAN is must.
• Purchase return ANX-2 will be auto-populated
• If customer accepts the purchase bill it will be locked and supplier cannot make changes. Recipient has the option of Reject-keep pending the purch bill in auto-populated ANX-2. If not opted Accepted presumed.