Get Ready for New Compliance – Income Tax portal now showing GSTR-2A Data
Recently , CBDT & CBIC has signed a pact for sharing of Information. The result is now made public domain. Income Tax portal is now showing GSTR-2A Data
Let us know as to how to Check it on Income Tax Website.
Stepwise action needed are
– Login at the portal of www.incometaxindia.gov.in
– Click on Compliance Menu
– Click on e- Campaign (Check sub options) Menu
– Those assessees who have business income and file the returns ITR 3 to ITR -7, he need to ensure that their income tax returns and GST returns correlate.
– In ITR 3 the following details regarding GST needs to be given.
– Details of taxes levied on sale (CGST, SGST, IGST, and UTGST) and these details needs to be matched with the electronic liability register on the GST portal.
– Details of CGST, SGST, IGST, and UTGST paid on purchases and the credit taken thereof, these details should be matched with the electronic credit ledger available on the portal.
– If any GST refund is receivable from the government and not credited to Profit & Loss account then the details of the same are required to be given in the Income Tax Return.
– In ITR 4 the following details regarding GST needs to be given.
– Taxpayers are required to furnish the GST Registration number in the Income Tax Return.
– Taxpayer is required to provide Turnover/Gross Receipts under GST as mentioned in the GST returns. These details can be taken by the taxpayer from the GSTR 1 filed by them.