GST Portal Update:
- GST Portal got updated and a new feature has been added wherein when a taxpayer is logged in and uses search GSTIN feature then, some new information of Gross Total Income & % of Tax Payment in Cash is displayed.
- A note is also mentioned on the top of the page stating that these details are based on last year data.
- Recently on 22-12-2020 CBIC vide NN-94/2020-CT introduced a New Rule-86B, wherein 1% of total tax liability is to be mandatorily discharged in cash subject to certain exemptions w.e.f. 01-01-2021. Although the calculation of Rule 86B is based on current year data but it seems that this new feature is enabled for Rule 86B. More clarity would come once the figures is displayed.
- As of now taxpayers should be ready to comply with the new rule of mandatory cash payments as GSTIN would soon reflect the data for the same.
- Further in a case saw that the department is gathering data from taxpayers and asking reasons for not discharging liability in cash through emails and calls, no notice is issued nor any DIN is mentioned. The officer said that it was regular routine enquiry. So be ready a lot to come in recent months to come