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[ad_1] This week’s HW+ member spotlight features Ben Bernstein, director at Axonic Capital, an investment firm with a deep focus on the structured credit sector of the financial markets. Prior to that, Bernstein held leadership roles in Odeon Capital Group and JPMorgan Chase. Below, Bernstein answers questions about the housing industry: HousingWire: What is your current favorite HW+ article and why? Ben Bernstein: Logan and Sarah’s Monday podcast is my go to. Logan cuts through all the noise and delivers clear concise opinions rooted in the data. So not only do I get updates on what is going on in the housing market but I learn which data points are relevant and how to analyze them. And Sarah always asks insightful questions. On top of that, it is super entertaining! HousingWire: What has been your biggest learning opportunity? Ben Bernstein: My biggest learning opportunity (and weirdest job I ever had) was every job I ever had. I started my career at Bear Stearns on February 23 2008. To say that was an interesting time and place to start a career would be an understatement. Two weeks later I was working for JPMorgan and eventually made it to a desk whose focus was working out of the assets that brought Bear down in the first place. Think funky bonds linked to housing like subprime RMBS and CDOs. Getting to dig deep into what these bonds were and how the underlying mortgages impacted them was priceless. I started at Axonic, a credit fund focused on investments linked to residential and commercial real estate, in November of 2019. Another interesting time to join an investment firm! Three months later, I was working remotely and figuring out how to be productive from home. Fourteen years into my career and my biggest learning opportunity is right now. I’m learning new stuff every single day whether it be about the bond market, housing, trading, macro economics, etc. All I need to do is turn around and ask a question out loud and I’ll learn something new. HousingWire: What is the best piece of advice you’ve ever received? Ben Bernstein: The best piece of advice I’ve ever received was what is important is what you do when no one is looking. Your reputation, work ethic, success, productivity and integrity are all linked to what you do because you know you need to do it as opposed to what you think other people want you to do. HousingWire: What’s 2-3 trends that you’re closely following? Ben Bernstein: I don’t think anyone will be surprised by the trends I’m following these days: Inflation, credit spreads, housing prices and how they are all intertwined. Fortunately I have smart people around me (including HousingWire) to give me their opinions on where we are headed. It’s my job to put it all together. The past two years have been some of the most interesting times in markets and from where I sit I don’t think that will change any time soon. HousingWire: What keeps you up at night and why? Ben Bernstein: What keeps me up at night is the state of the housing market. 35+% home price appreciation since COVID-19 began. Two months supply of housing. Mortgage rates going up faster than they ever have. There’s a lot going on! One thing as bond traders that we do is we look down before we look up. In other words we look at risk before we look at upside. An overheated housing market is something we pay close attention to because we don’t want prices to go down precipitously but we don’t want inflation to run away either. So it’s really an interesting time to be tracking the housing market and all of the ancillary markets that are impacted by it.   To become an HW+ member, click here. For more information on HW+ benefits, click here. To view past issues of our HW+ exclusive HousingWire Magazine, go here. The post HW+ Member Spotlight: Ben Bernstein appeared first on HousingWire. [ad_2] Source link

[ad_1] It was the week of April 3, 2022, when I signed off from writing the “Making sense of the markets” column. It is wonderful to be back filling in for Kyle Prevost (he’s on vacation), who took over the column. Kyle’s insights and writing give the column a nice jolt. I am so glad to see it in good hands.  Check out that April 3 column. I covered some of the major investment themes and ideas I put on the table. Many investment opportunities were identified, and they played out in our favour.  So, what the heck has been going on these days? Not much. Or let’s say that not much has been working on the investment front as of late. Stock markets, bonds, commodities, gold, bitcoin, and even oil and gas stocks have been falling over the last few weeks.  It’s all about inflation.  In this column I’ve long identified inflation as a nasty beast—and a threat. Inflation has been ramping up around the world. Very few investors are familiar with inflation. You’d have to be on the far side of 70 to have experienced the stagflation of the ’70s and early ’80s. I’m happy to have introduced the possibility and portfolio inflation-antidote to MoneySense readers.  Once again, the best inflation-fighters are commodities and energy stocks. And when you build an all-weather portfolio, you will include inflation protection.  In May 2022, I did a comparison of the MoneySense core couch potato ETF models versus the advanced spud (all weather) models. To no one’s surprise, the advanced models have been outperforming.  Over the past few weeks not much is working on the investment front, as we may be staring down the choice between a recession or stagflation.  More Canadians think we are heading for a recession. This is according to YahooFinance!: “But most Canadians are not convinced that the Bank of Canada’s plan will work to tame inflation. The poll found that a majority (56%) are concerned that rising interest rates will plunge the country into a recession, while 44% say that the rate hikes will cool the rate of inflation and avoid a recession.” Central bankers in Canada, the U.S. and around the world are taking on the inflation fight earnestly. They are raising rates in the attempt to whack consumers so  they stop buying as much stuff and spend less on travel. In Canada they’d like to see a cooling of the red-hot housing market, too.  In two decades during which rich-country property prices soared, it's interesting that even ten years after its own massive property bubble began to deflate, Japanese prices were still declining for another decade or two. Real estate bubbles can take a long time to adjust. pic.twitter.com/klS1rnJ1uX — Michael Pettis (@michaelxpettis) June 21, 2022 Stocks are getting hit due to recession and stagflation fears. Bonds take it on the chin due to the rising rate environment. As rates rise, bond prices fall. And energy stocks and commodities will fall in anticipation of a weaker economy.  That said, nobody knows how this will all play out. That’s why we see all of the asset classes flailing about these days. We could get a recession, stagflation or even a soft landing. That’s to say, the central bankers could cool off the economy just enough to bring inflation down without spooking the consumer enough to cause a recession. That favourable result would be a soft landing. But soft landings are very rare.  On my own blog, I wrote: “Many economists and market experts are suggesting the outcome for 2022 and into 2023 might be that we experience a recession or stagflation. That’s not a good choice we might think. And of the two ‘options,’ we might prefer a recession. A recession might do enough to quell inflation. And we do have to stomp out inflation hard the first time. That is: central bankers have to raise rates aggressively enough to hurt the consumer enough to reduce demand and get inflation well under control. If they let inflation fester, it may resurface and cause even more trouble as it did in the 1970s stagflation era. Recession or stagflation, who knows what we will get. The idea is to be aware and prepared.” The choice may be between a recession or stagflation. We have already entered a stagflationary environment (with high inflation and declining economic growth). The question is, where do we go from here? Do we leave stagflation behind?  Canada and the Canadian consumer are more rate sensitive compared to the U.S., as we are carrying much more personal debt. It will not be hard to break the consumer nor the real estate market. We might even be twice as sensitive as those south of the border.  Again, look to those all-weather portfolio models. If you are a retiree or near-retiree, be prepared for anything. If you are in the accumulation stage, you are being offered lower prices. Add new monies and reinvest portfolio income on a regular schedule.  Energy stocks soar All Canadian investment sectors are down year-to-date—except for energy. The oil and gas sector has performed very well because of a supply shortage. Goldman Sachs increased its Brent oil price forecast from US$10 to US$135 a barrel for the second half of 2022 and into the first half of 2023. Supply just cannot keep up with increasing energy demand. Energy companies have little incentive to make major investments. There may be some tweaks along the way to increase production in modest fashion. But given the global desire and need to shift from black (oil) to green energy, oil companies will be reluctant to step up in any meaningful way.  The oil companies will pump and print. They are incredibly profitable. They will produce oil and gas and return value to shareholders by way of generous and growing dividends and share buybacks.  In fact, in early May, I took all of my handsome profits from iShares Capped Energy Index ETF (XEG), and the Ninepoint Energy

[ad_1] If you’ve been searching for a winning investment strategy, we’ve come up with what we believe to be the four best investment strategies for 2022. Since investors all have their own unique “investor profile” we’ve chosen four strategies that will fit most investor preferences. The table below provides a summary of all four strategies, including what each is best for, its typical investment timeframe, whether it’s active or passive, the amount of market knowledge required, and the major downsides. Peruse the table, then read the detailed summaries for each below. Strategy Best for Investment Timeframe Active or Passive Market Knowledge Required Downsides Value Investing Bargain hunters As bargain stocks become available Semi-Active High Difficult to find stocks, success not guaranteed Growth Investing Long-term passive investors Constant/always Passive Low High volatility, no dividends, interest rate sensitive Momentum Investing Active investors During uptrends Active Very high Very hands-on, high degree of skill, difficult to predict swings Dollar-cost-averaging Investing in all kinds of markets Constant/always Passive Low Requires stable cash flow, no guarantee against declines Our Picks for the 4 Best Investment Strategies for 2022 In contrast to our usual strategy, we’re not going to attempt to rank the four best investment strategies for 2022. Each has value to a certain group of investors. Below is a listing of the four investment strategies, emphasizing below what we believe each is best for: Value Investing: Best for Bargain Hunters Growth Investing: Best for Long-Term Passive Investors Momentum Investing: Best for Active Investors Dollar-Cost Averaging: Best for Investing in All Kinds of Markets #ap8270-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap8270-ww #ap8270-ww-indicator{text-align:right;color:#4a4a4a}#ap8270-ww #ap8270-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap8270-ww #ap8270-ww-indicator-wrapper:hover #ap8270-ww-text{display:block}#ap8270-ww #ap8270-ww-indicator-wrapper:hover #ap8270-ww-label{display:none}#ap8270-ww #ap8270-ww-text{margin:auto 3px auto auto}#ap8270-ww #ap8270-ww-label{margin-left:4px;margin-right:3px}#ap8270-ww #ap8270-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap8270-ww #ap8270-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap8270-ww #ap8270-ww-text-bottom{margin:5px}#ap8270-ww #ap8270-ww-text{display:none}#ap8270-ww #ap8270-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap8270-w-map{max-width:600px;padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap8270-w-map #ap8270-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap8270-w-map #ap8270-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap8270-w-map #ap8270-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap8270-w-map #ap8270-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap8270-w-map #ap8270-w-map-map svg{position:absolute;left:0;top:0}#ap8270-w-map #ap8270-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap8270-w-map #ap8270-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap8270-w-map #ap8270-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap8270-w-map #ap8270-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap8270-w-map #ap8270-w-map-map svg g .ap00646-w-map-state{display:none}#ap8270-w-map #ap8270-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap8270-w-map #ap8270-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap8270-w-map #ap8270-w-map-map svg g:hover{cursor:pointer}#ap8270-w-map #ap8270-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap8270-w-map #ap8270-w-map-map svg g:hover text{fill:#fff}#ap8270-w-map #ap8270-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap8270-w-map #ap8270-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap8270-w-map #ap8270-w-map-btn:hover{color:#fff;background-color:#508fc9} If you are a beginner stock trader or investor, choosing the right stockbroker is super important. Online Stockbrokers will guide you with their vast knowledge, so you can wisely invest your hard-earned dollars. Don't give it a second thought and click on your state today. HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas View Results No matter what investment strategy you choose, you’ll need a platform to invest on. Investigate the best online stock brokers for beginners and the best investment apps where you can trade and invest. Also, be sure you understand what is a brokerage account, and familiarize yourself with our guide to basic investing. Investing has gotten much easier in recent years, but the more you know, the better your chances of success will be. Now let’s get on to the four best investment strategies for 2022: Best Investment Strategies Value Investing: Best for Bargain Hunters Investment Timeframe: As bargain stocks become available Active or Passive: Semi-Active Market Knowledge Required: High Downsides: Difficult to find stocks, success not guaranteed In some ways, value investing is the most time-honored method of investing. It’s a bargain-hunting strategy applied to stocks and is popularly used by Warren Buffett. The basic concept is that you look for stocks that are underpriced relative to either the market or to a company’s specific industry sector. Once the general market recognizes the undervaluation of the company, its stock is expected to outperform its competitors. A common valuation method is the price/earnings ratio or P/E ratio. If the P/E ratio of a company is 12, and the average for the industry sector is 22, all things being equal, the company is considered undervalued. Other methods of valuation include price-to-book, price-to-sales and price/earnings-to-growth (PEG) ratios. There are different ways to invest in value stocks, including individual stocks and investing in ETFs that specialize in value stocks. If you’re going to invest in either, consider a diversified brokerage platform, like E*TRADE or TD Ameritrade. Either will enable you to trade in either security. Alternatively, you can consider a robo-advisor like Betterment. They hold your funds invested in US stocks in value stocks. #ap76323-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap76323-ww #ap76323-ww-indicator{text-align:right;color:#4a4a4a}#ap76323-ww #ap76323-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap76323-ww #ap76323-ww-indicator-wrapper:hover #ap76323-ww-text{display:block}#ap76323-ww #ap76323-ww-indicator-wrapper:hover #ap76323-ww-label{display:none}#ap76323-ww #ap76323-ww-text{margin:auto 3px auto auto}#ap76323-ww #ap76323-ww-label{margin-left:4px;margin-right:3px}#ap76323-ww #ap76323-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap76323-ww #ap76323-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap76323-ww #ap76323-ww-text-bottom{margin:5px}#ap76323-ww #ap76323-ww-text{display:none}#ap76323-ww #ap76323-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap76323-w-text{padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap76323-w-text #ap76323-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap76323-w-text #ap76323-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap76323-w-text #ap76323-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap76323-w-text #ap76323-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap76323-w-text #ap76323-w-text-btn:hover{color:#fff;background-color:#508fc9} If you are a beginner stock trader or investor, choosing the right stockbroker is super important. Online Stockbrokers like Robinhood will guide you with their vast knowledge, so you can wisely invest your hard-earned dollars. Don't give it a second thought and click below. Start Investing Growth Investing: Best for Long-Term Passive Investors Investment Timeframe: Constant/always Active or Passive: Passive Market Knowledge Required: Low Downsides: High volatility, no dividends, interest rate sensitive Growth stocks may be the classic way to invest in the stock market. By definition, a growth stock is a company that plows its revenues into future growth. For that reason, they either pay very little in the way of dividends or none at all. But growth investors aren’t looking for dividend income. Instead, the focus is on long-term capital appreciation. Growth stocks have a history of delivering superior long-term gains. This is particularly true of small-capitalization growth stocks, with their better and faster growth cycles. These are the proverbial situations where you buy a stock for $20 and watch it rise to $100 three years later. At least, that’s the hope. But historically, the strategy has worked very well. What’s more, it’s a passive way to invest. You don’t have to concern yourself so much with individual stocks, but rather with ETFs that focus on growth stocks. You can invest in growth stocks through

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[ad_1] Reading the market tea-leaves for global recession risks [ad_2] Source link

[ad_1] The GST department may soon issue a host of clarifications on certain vexed issues in tax rates, including exemptions to assisted reproductive technology (ART) or in vitro fertilization (IVF) as well as applicability of GST on payment of honorarium to guest anchors. A committee of tax officers from the Centre and states, referred to as the Fitment Committee, has informed the GST Council that healthcare services provided by a clinical establishment, an authorised medical practitioner or para-medics are exempt under Goods and Services Tax regime and a clarification be issued regarding GST exemptions to ART/IVFs. GST law defines healthcare services as any service by way of diagnosis or treatment or care for illness, injury, deformity, abnormality or pregnancy in any recognised system of medicines in India. It also includes services by way of transportation of the patient to and from a clinical establishment, but does not include hair transplant or cosmetic or plastic surgery, except when undertaken to restore or to reconstruct anatomy or functions of body affected due to congenital defects, developmental abnormalities, injury or trauma. The ailment of infertility is treated using ART procedure such as IVF. Such services are covered under the definition of healthcare services for the purpose of above exemption notification, the fitment committee said adding a clarification may accordingly be issued by way of a circular. The recommendations of the committee which will be placed before the GST Council meeting on June 28-29 also include a clarification on the issue of applicability of GST on payment of honorarium to the guest anchors. The committee gives its recommendation regarding tax rates, after analysing demands from stakeholders, in every meeting of the Council. The panel has received requests for a clarification since some of the guest anchors have requested payment of GST at the rate of 18 per cent on the honorarium paid to them for such appearances. It has observed that supply of all goods and services are taxable unless exempt or declared as ‘no supply’. Services provided by the guest anchors in lieu of honorarium would attract GST liability. “However, the threshold exemption limit on aggregate turnover of the service provider would apply. Liability would arise in case threshold exemption limit for services is crossed,” it said adding a clarification may accordingly be issued. Currently, entities providing services need to register under GST if their aggregate turnover exceeds Rs 20 lakh (for normal category states) and Rs 10 lakh (for special category states). Further, the committee has also suggested a clarification on whether the activity of selling of space for advertisement in souvenirs would attract a 5 per cent or 18 per cent tax rate. The fitment committee said the selling of space for advertisement in print media attracts tax at 5 per cent. The activities carried out by different institutions/ organizations towards selling of space for advertisement in souvenirs would attract 5 per cent tax and the stated position in GST law be clarified accordingly, it said. The panel, while recommending status quo in GST rates on 113 goods and 102 services, also made a case for reduction in taxes on Ostomy Appliances to 5 per cent, from 12 per cent. It also suggested that tax rates for orthopaedic implants (Trauma, Spine, and Arthoplasty Implants in body); Orthoses (Splints, braces, belts & calipers); Prostheses (artificial limbs) be cut to a uniform 5 per cent, from the current differential rate of 12 and 5 per cent. The committee also recommended reduction in GST on ropeway travel from 18 per cent to 5 per cent, with ITC, Himachal Pradesh placing this request before the GST Council in September last year. Also, a clarification would be issued on GST rates on electric vehicles, to state that EVs, whether fitted with battery or not, would attract 5 per cent tax. The committee has suggested to the GST Council to defer a decision on taxability of cryptocurrency and other virtual digital assets. It suggested that a law on regulation of cryptocurrency is awaited and it would be essential to identify all relevant supplies associated with the crypto ecosystem, besides classification on whether they are goods or services. The committee felt that a deeper study was needed on the issues involved in crypto ecosystem. It was decided that Haryana and Karnataka shall study all aspects and submit a paper before the fitment committee in due course. Fintech players seek at least 1 yr sunset clause on RBI directive on credit lines by PPI issuers. With the RBI cracking down on credit facilities provided by non-bank prepaid payment instrument issuers, industry players are seeking a reprieve through a sunset clause of at least a year, industry sources said on Friday. Earlier this week, the RBI directed the non-bank prepaid payment instrument (PPI) issuers to stop providing credit lines on such PPI cards and asked them to stop the practice immediately. “A bunch of fintech players have come out with these PPI cards, and it really boomed during the last two years, especially post-Covid. So, a number of people were brought to the new-to-credit and the Buy Now Pay Later (BNPL) proposition of business, the regulator had red flags, saying it is uncontrolled,” a source said. “The lending business has some norms for underwriting a credit, however, here it was like one can get the prepaid credit card just in time. So, the regulator came down heavily to stop this practice,” the source said. Industry associations like the Digital Lenders Association of India (DLAI), Fintech Association for Consumer Empowerment (FACE) and others, fear that their customer base would be affected by the RBI directive. “So they want to have some sort of grandfather or sunset clause. They are of the view that they should at least be given a year to allow the transition, or that they can evolve into the credit business. They want the Finance Ministry and the RBI to allow them a little bit of a sunset clause,” another source said. Sunset clauses are specific provisions

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[ad_1] Dollar stumbles as markets rethink interest rate path [ad_2] Source link

[ad_1] Ukrainian forces will have to leave Sievierodonetsk -governor  Reuters.com Ukraine-Russia News  The New York Times Ukrainian troops to withdraw from Severodonetsk, local leader says  Axios The war in Ukraine has entered a new, and more difficult, phase  The Guardian Latest Russia-Ukraine war news: live updates  The Washington Post [ad_2]

[ad_1] The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form — GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said.The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability. Currently, GSTR-3B of a taxpayer includes auto drafted input tax credit (ITC) statements based on inward and outward B2B supplies and also red flags any mismatch between GSTR-1 and 3B. As per the changes proposed by the Law Committee of the GST Council, there will be auto-population of values from GTSR-1 into GSTR-3B in specific rows to establish one-to-one correspondence to a large extent between rows of the two return forms, thereby providing clarity to the taxpayer and tax officers. The change would minimize the requirement of user input in GSTR-3B and ease the GSTR-3B filing process, an official said. The tax payment table in Form GSTR-3B will be auto-populated from other tables in the form and will be non-editable, as per the amended form recommended by the Law Committee of the Council. Noting that amendment in Form GSTR-3B, as far as feasible, should flow from amendment in Form GSTR-1, with regard to outward liabilities, the Committee suggested that for giving more clarity to the taxpayers, separate amendment table (for liabilities) may be introduced in GSTR-3B, so that any amendment made in Form GSTR-1 gets reflected in GSTR-3B clearly. Similarly, an amendment table may also be incorporated in GSTR-3B to show any amendment in the ITC portion, the Committee suggested. Once the changes proposed by the Law Committee gets an in-principle approval of the GST Council, the revamped form will be put in public domain for stakeholder consultation. The GST Council in a meeting later will then approve the final form. Currently, taxpayers file statements of outward supplies in GSTR-1 by the 11th day of the subsequent month, while taxes are paid by filing GSTR-3B between 20th, 22nd and 24th of every month for different categories of taxpayers.Commenting on the proposed changes in GSTR-3B, AMRG & Associates Senior Partner Rajat Mohan said tax filings are set to change for e-commerce operators rendering passenger transportation services, accommodation services, housekeeping services, and cloud kitchens. Such e-commerce players would now be made liable to report supplies on behalf of suppliers in their GSTR -1 and GSTR-3B in separate cells. “E-commerce players like Uber, Swiggy, Zomato and MMT would see few changes in monthly tax filings that will ensure more data points for the government system for big data analytics,” Mohan added. [ad_2] Source link