New Features added in GST Portal
Goods and Services Tax is a comprehensive tax levied on supply of goods and services across India. GST is a destination based consumption tax, and the taxable event is supply as against the existing taxable events of sale, manufacture or provision of service.
GST Added Two New Features:
- List of Preferred Banks list:
The first feature in the GST portal is that it includes List of Preferred Banks list while making Payment. From now onwards, every time a taxpayer makes any GST payment using bank, it will be updated in the Preferred Bank List.
And, as per the statement issued by the GST, upto six preferred banks will be shown.
- Monthly Refund applications:
GST Portal further removed the restriction for applying for a refund on a quarterly basis for quarterly GSTR 1 filers. Now, these taxpayers can file refund application on a monthly basis if Form GSTR1 for the quarter is filed.
The above features added hope will be useful for the taxpayer in filing the returns.