If the taxpayer has different business verticals in one state, will he have to obtain separate registration for each such vertical in the state?


No, however the taxpayer has the option to register
such separate business verticals independently in terms of the proviso to Section 25(2) of the CGTST Act, 2017.

Late ITR filing date December 31

It is important to note that the last date for filing belated ITR is December 31, 2022. Thus, a person can file belated ITR any time between August 1, 2022 and December 31, 2022. But the fine has to be paid. However, if a person misses even this deadline, he will not be able to file ITR unless the Income Tax Department sends a tax notice.

What is an ITC Ledger?

Input Tax Credit as self-assessed in monthly returns will be reflected in the ITC Ledger. The credit in this ledger can be used to make payment of TAX ONLY and not other amounts such as interest, penalty, fees etc.

When does liability to pay GST arises?

Liability to pay arises at the time of supply of Goods as
explained in Section 12 and at the time of supply of services
as explained in Section13.
The time is generally the earliest of one of the three events, namely receiving payment, issuance of invoice or completion of supply. Different situations envisaged and different tax points have been explained in the
aforesaid sections.

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What happens if the taxable person files the return
but does not make payment of tax?

In such cases, the return is not considered as a valid
return. Section 2(117) defines a valid return to mean a
return furnished under sub-section (1) of section 39 on which self-assessed tax has been paid in full. It is only the valid return that would be used for allowing input tax credit (ITC) to the recipient. In other words, unless the supplier has paid the entire self-assessed tax and filed his return and the recipient has filed his return, the ITC of the recipient would not be confirmed.

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