GST News, Updates, Notifications & Announcements
7th April 2020
Government has extended last date for opting for composition scheme by normal taxpayers for the financial 2020-21. Extended last date is now 30th June 2020 notified by notifications 30/2020 date 3rd April 2020.
Normal and registered taxpayers who want to opt in for Composition in FY 2020-21 can apply in Form GST CMP-02 by 30th June 2020.
The taxpayers SHOULD NOT file any GSTR-1/GSTR-3B, for any tax period of FY 2020-21, from any of the GSTIN on the associated PAN, or else they will not be able to opt for composition scheme for FY 2020-21.
The taxpayers who are already in composition scheme, in previous financial year are not required to opt in for composition again for FY 2020-2021.
Form GST ITC-03 to reverse ITC for the stock in hand at the time of transition can be filed till 31st July, 2020.
24th March 2020
The Union Minister Nirmala Sitaraman has announced some relief in GST to support taxpayer. These are as follows:-
- The due date of GSTR-1 and GSTR-3B for February, March and April 2020 is extended to the last week of June 2020.
- Taxpayers with an annual turnover of less than Rs 5 crore need not pay interest, late fee or penalty for late filing of GST returns.
- The rest of the taxpayers are liable for interest at 9% if the GST payment is made after 15 days from the original due date.
- CMP-02 due date is extended to 30th June 2020. Further, CMP-08 and GSTR-4 filing is also extended up to 30th June 2020.
- All compliance under GST where the time limit expires between 20th March 2020 and 29th June 2020 are extended up to 30th June 2020.
- The last date to avail the scheme is extended up to 30th June 2020 for the Sabka Vishwas Scheme.
28th March 2020
Tracking GST Refund Application Status on the GST Portal and PFMS portal
- New functionality on GST portal to track the refund status. This updated functionality will also provide the stage to refund pending with tax-officer/taxpayer.
- A tax officer can issue payment order only after Public Financial Management System (PFMS) has validated the bank account mentioned in the refund application (RFD-01). Similarly, final disbursement of refund amount sanctioned by the tax officer happens only after (PFMS) has validated the bank account mentioned in the payment order (RFD-05). Thus, validation of bank account takes place at two stages. However, the exact detailed status of bank account validation is not available on the GST Portal.
- The Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has made available a central portal to track the status of bank account validation and disbursal of refund amount. By visiting the PFMS portal athttps://pfms.nic.in/static/NewLayoutCommonContent.aspx?RequestPagename=Static/GSTN_Tracker.aspx the taxpayer can track the status of bank account validation.
- This advisory is being issued for the benefit of the taxpayers in order to make them aware of the ways in which they can track the status of their refund applications on both the Portals.
GST Notifications and Circulars
5th May 2020 Notification No. 42/2020 – Central Tax
- New due date of filing GSTR-3B for period November 2019 to February 2020 for assessee having place of business in union territory of Jammu and Kashmir is 24th March 2020.
- New due date of filing GSTR-3B for period November 2019 and December 2020 for assessee having place of business in union territory of Ladakh is 24th March 2020.
- Due date of filing GSTR-3B for period January 2020 to March 2020 for assessee having place of business in union territory of Ladakh is 20th May 2020.
5th May 2020 Notification No. 41/2020 – Central Tax
Due date of filing annual return (GSTR-9) and reconciliation statement (GSTR-9C) for financial year 2018-19 further extended till 30th September 2020.
5th May 2020 Notification No. 40/2020 – Central Tax
Eway bill generated before 24th March 2020 and expires between 20th March 2020 to 15th April 2020, the validity period of above said Eway bill extended till 31st May 2020.
5th May 2020 Notification No. 38/2020 – Central Tax
- Company assessee are allowed to furnish GSTR-3B, from the 21st April 2020 to 30th day of June 2020, verified through electronic verification code (EVC).
- Nil GSTR-3B return can be filed through short messaging service through registered mobile number.
28th April 2020 Notification No. 37/2020 – Central Tax
In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with clause (c) of rule 9 and rule 25 of the Central Goods and Services Tax (Fourth Amendment) Rules, 2019 (hereinafter referred to as the rules), made vide notification No.31/2019 – Central Tax, dated the 28th June, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 457(E), dated the 28th June, 2019, the Government, hereby appoints the 21st day of April, 2020, as the date from which the said provisions of the rules, shall come into force.
3rd April 2020 Notification No. 36/2020 – Central Tax
- Taxpayer having turnover more than 5 crore in previous financial year: – Last date of filing GSTR-3B for the month of May 2020 extended to 27th June 2020.
- Taxpayer having turnover less than 5 crore in previous financial year and having place of business in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and
Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep: – Last date of filing GSTR-3B for the month of May 2020 extended to 12th July 2020.
- Taxpayer having turnover less than 5 crore in previous financial year and having place of business in the States Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar,
Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam,
West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh,
Chandigarh or Delhi: – Last date of filing GSTR-3B for the month of May 2020 extended to 14th July 2020.
To extend due date of compliance which falls during the period from 20th March 2020 to 29th June 2020 till 30th June 2020 and to extend validity of e-way bills.
Last date of filing Form GST CMP-08 for the quarter ending March, 2020 till 7th July 2020 and filing Form GSTR-4 for FY 2020-21 till 15th July 2020.
Conditional waiver of late fee for delay in filing of outward statement in Form GSTR-1 for tax periods of February, 2020 to April, 2020.