Skip to main content

GST returns information to be included in Form 26AS


Central Board of Direct Taxes and Customs issued an Order dated September 29, 2020, regarding the information of GST Returns in Form 26AS.
 
Central Board of Direct Taxes (Board), hereby authorizes the Principal Director General of Income-tax (Systems) or the Director-General of Income-tax (Systems) to upload information relating to GST return, which is in his possession, in the Annual Information Statement in Form 26AS.
 
Author's comment
Inter-unit transactions would pose a challenge in line to line matching of the tax data as per GST returns and as per Income tax filings.


SOURCE : CBIC NOTIFICATIONS

Disclaimer : TAXGyaAan is meant purely for the educational purpose of Tax Laws and Regulatory Updates. It will not be treated as professional advice. This Blog should not be substituted for professional advice. For specific Queries, please post in the comments section.

Comments

Post a Comment

Popular posts from this blog

QRMP Scheme (Quarterly Return Monthly Payment Scheme) – New GST Return System w.e.f. 01-Jan-2021

Key Highlights of the QRMP Scheme:   1. Eligibility for QRMP Scheme A registered person who is required to furnish a return in Form GSTR-3B, and who has an aggregate turnover of upto Rs. 5 crores in the preceding financial year, is eligible for the QRMP Scheme. Clarification 1: The aggregate annual turnover for the preceding financial year shall be calculated in the common portal considering the details furnished in the returns by the taxpayer for the tax periods in the preceding financial year. And it should be PAN wise. If a taxpayer having 2 or more GSTIN’s then the aggregate turnover of all should be taken for eligibility. Clarification 2: In case the aggregate turnover exceeds 5 crore rupees during any quarter in the current financial year, the registered person shall not be eligible for the Scheme from the next quarter. Clarification 3: The option to avail the QRMP Scheme is G...