Taxpayers would need to provide one-time password (OTP) post entering user id and password, the OTP will be delivered to their Primary Authorized Signatory “Mobile number and E-mail id”.

Tax-payers are requested to keep their email and mobile number of authorized signatory updated on the GST Portal for receiving the OTP communication. This OTP would only be asked, in case the tax-payer changes the system (desktop or laptop or browser) and location.

We can now expect the 2^nd phase to start soon where it will be mandatory for all taxpayers to provide the OTP during login into the GST portal.

Also read our other related articles:

https://gstplatform.com/4-digit-hsn-code-mandatory-w-e-f-1-february-2024/ https://gstplatform.com/new-feature-on-gst-portal-form-gst-drc-01c/

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The high court also revoked the cancellation of registration of the taxpayer on account of “non filing of Goods and Services Tax (GST) returns for 6 months. The court was hearing a writ petition .

“This case highlights the callous manner in which the assesses has been harassed by the respondents,” the court observed in the case.The indirect tax department had issued show cause notice to the assesses  for not filing GST returns. However, the tax department later accepted that the returns were filed and no dues were pending.“The show cause notice was completely vague and did not even point out as to what ground the reply was proposed to to be sought, the petitioner appeared and apprised that all the returns have already been filed,” the court observed.

The court also asked the tax officer to pay Rs 10,000. In view of the specific findings recorded above to the effect that the petitioner was unnecessarily harassed, the writ petition is allowed with a cost of Rs. 10,000/- to be paid to the petitioner within 30 days by the respondent no. 2 (tax officer) from his own salary,” the high court ruled.

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GST department in an official letter , said that all the registration application filed on or before 30.06.2020 which remained pending for processing as on 15.07.20 , is deemed approved.

All other pending applications will be approved till 31.07.2020 in a special drive.

Normal process of deemed approval of registration will be started from 01.08.20.

Read Also : GSTN Advisory on rejected revocation Application

Full details given below :

The post Approval of pending GST registration appeared first on GST Platform.

CBIC has issued various notifications on 05.05.2020.Due date for GSTR9 and GSTR9C for FY 2018-19 has been extended. 

Read Also : RBI relief measures 

Eway bill expiry has been extended till 31.05.2020.

Full Details here : 

Notification

The post GST New Notifications appeared first on GST Platform.

Read Also : GST and IT Refund to be issued

Existing Normal taxpayers who want to opt for Composition Scheme in Financial Year 2020-21 may note following changes:

1. Revised date to file Form GST CMP 02: 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.

2. No GSTR 1 or 3B must be filed in 2020-21 financial year for associated PAN: 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.

3. No need for re-opting for the composition scheme: 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.

4. Revised date to file Form GST ITC 03: Form GST ITC-03 to reverse ITC for the stock in hand at the time of transition can be filed till 31st July, 2020.

   Thus , If you are sure that you will not for composition scheme for FY 20-21 , then only it is advised to file GSTR3B and GSTR1 for the period April , May and June 2020. If return has been filed for the said period than the associated PAN will not be allowed to opt for composition scheme which is extended till 30.06.2020.

          Read Also : Relief by Reserve Bank of India to the Account Holders

The post GSTN issues Advisory for Composition Taxpayers appeared first on GST Platform.

Various Types of GST New Return in GST 2.0 and who shall file which Return?

GST new return filing is going to be made live for all the taxpayers from April 2020. Currently the trial of GST new return filing is going on GST Portal. Some of the important points related to GST new return are given below : 

Read Also : All about GST RET 1 

Return Frequency / periodicity in GST New return Filing 

The taxpayer can file the returns in GST new return filing either monthly or quarterly in the new system.Taxpayer whose aggregate turnover exceeds 5 crores in the previous FY shall file monthly return.

Taxpayers whose aggregate turnover is upto 5 Crores in the previous FY shall have an option to file return quarterly or monthly basis.The frequency can be changed from monthly to quarterly or vice versa through dashboard of GST Portal.

Return formats in GST New Return Filing

If the filing frequency is selected as quarterly , then taxpayer can change the return type or format as Quarterly Normal (GST RET 1) , Sahaj (GST Sahaj 2) , Sugam (GST RET 3) based on the types of transactions.

Taxpayers whose aggregate turnover is more than 5 Crores has  to file Monthly (Normal) Return GST RET 1.

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This form is not required to be filed by a registered person having category as Input Service Distributor, Non-resident Taxable person , Composition dealer U/s 10 of CGST Act , Person responsible for deducting TDS U/s 51 of CGST Act , or person responsible for collecting TCS U/s 52 of CGST Act .

The due date to file this form is bifurcated and the small taxpayers have an option to file the return in Form GSTR1 quarterly.

The due date to file GSTR1 for persons other than small taxpayers and small taxpayers opting for monthly filing is 11^th of the following month .

For small taxpayers the due date for filing GSTR1 is the 30^th of the following quarter

Small Taxpayers means a taxpayer having aggregate turnover in the preceding financial year or during the current year for new registration less than one crore and fifty lacs .

The details furnished in GSTR1 by the supplier under B2B category in GST Portal shall be reflected in the corresponding GSTR2A of the recipient.

The form in GSTR1 may be amended by the supplier if any error , omission is committed in the month in which such mistake was identified . But the last date to amend the details of GSTR1 by a registered taxpayer shall be the earlier of the following dates :

The date of furnishing annual return in Form GSTR 9 OR

The date of filing return U/s 39 in Form GSTR3B for the September month following the year to which transaction is related to.

Currently , late fees has not been implemented in GST Portal for late filing of GSTR1 . The GST Council in his recent meeting has recently waived the late fee for filing GSTR1 from July 17 to November 19 if to is filed before 10.01.2020. After that late fees may be implemented for GSTR1 also in GST Portal.

Form GSTR2A – This is a read only document which is auto populated on the basis of GSTR1 filed by the supplier . The details which has been uploaded under B2B Category by the supplier is shown here . The form GSTR2A auto populates the purchase details , credit and debit notes details , TDS and TCS details , ISD Credits received details by the receiver . It also auto populates the amendment is respect of Purchase details and credit and debit notes uploaded by the supplier in his GSTR1.

At present , no action is required to be taken by the recipient on the basis of GSTR2A as it is a read only document .This document shows the status of filing GSTR1 by the supplier . Through this form the purchaser shall reconcile his claim of input tax credit on the invoices which were uploaded. The ITC of invoices which were not uploaded by supplier and not shown in GSTR2A shall be restricted to

20 % of uploaded invoices as per Rule 36(4). In the 38^th GST Council meeting this limit was reduced to 10% which awaits notification.

It can be downloaded in JSON as well as excel format for the purpose of reconciliation in the GST Portal.

Read Also : GST COUNCIL MEETING DECISIONS

Form GSTR3B – This is the return form introduced as a temporary arrangement at the time of implementation of GST in India . Eventually, this return form GSTR3B has been made compulsory for filing in order to collect revenue and to ease the filing process of gst returns as mandated by the GST Act .

GSTR3B is a summary return in which every regular registered taxpayer has to furnish details pf outward supply made , claim Input Tax Credit in respect of purchase made , Pay the liability of reverse charge basis if any and declare the exempt supplies made and acquired during the tax period.

This form must be filed monthly before 20^th of the following month . The output tax liability shall be adjusted with the Input Tax Credit claimed and the net tax payable if any shall be paid in cash . The excess itc after adjustment shall be carried forward to next tax period .

Late fess for belated filing of GSTR3B is Rs 50 per day if there is transaction in  the tax period and Rs 20 if it is a NIL return .

Form GSTR4 – This is quarterly form for filing details of supplies by the composition taxpayers U/s 10 of CGST Act. This form was required to be filed upto FY 2018-19 which was replaced with Form CMP 08 from FY 2019-20 to ease the filing process.

In GSTR4 currently CMP 08 , only outward supply and inward supply liable to reverse charge on which tax liability has arisen shall be declared in the return form .

The GSTR4 is required to filed annually from the FY 2019-20.The due date to file GSTR4 was 18^th of following quarter in which the transaction was done . Now CMP 08 is required to be filed and the due date remains the same as for GSTR4 .

The due date to file annual GSTR4 is 30^th April following the end of Financial Year to which the transaction relates.

Form GSTR-5  The form GSTR5 is to be filed by the Non resident Taxable person . The due date to file GSTR5 is 20^th of following month to which the details pertain.

Form GSTR-5A – This form is to be filed by the person supplying online information and database access retrieval services by a person located outside India to a non taxable person in India. The due date to file this form is also 20^th of the following month.

Form GSTR 6 – This is form for distributing the Input on services by the Input Service Distributors to its branches. The due date to file this form is 13^th of the following month .

Form GSTR 7 – This form is required to be filed by every person registered in GST and is liable to deduct TDS as per the provisions of Section 51 of CGST Act. The details of tax deducted has to be uploaded in GSTR7 by the deductor before 10^th of the following month in which deduction was made.

Form GSTR8 – This form is required to be filed by every person registered in GST and is liable to Collect TCS as per the provisions of Section 52 of CGST Act. The details of tax collected  has to be uploaded in GSTR8 by the collector before 10^th of the following month in which collection was made.

Form GSTR9 – This is the annual return for the regular registered taxpayers in GST. It has to be filed by every registered person as per section 44 of CGST Act . For the FY 2017-18 and 2018-19 , it has been decided by CBIC that person having turnover below 2 crores will have an option to file this form .

The due date for filing GSTR9 was 31^st December of the following Financial Year . For FY 2017-18 date has been extended till 31.01.2020 in the GST Council meeting held on 18^th December 2019.

The due date for filing GSTR9 for FY 2018-19 has been extended till 31.03.2020.

Form GSTR 9A – This is the form for Annual return to be filed by every composition taxpayers in GST. The due date is 321^st December of the following Financial Year . For 1718 due date is extended till 31.01.2020 and for FY 1819 it is extended till 31.03.2020

Form GSTR9C – GSTR9C is a reconciliation and audit statement which shall be filed by the every registered taxpayers in GST if his aggregate turnover in the preceding financial year exceeds Rupees Two Crore .

Due date is same as for filing GSTR9.

Form GSTR-10 – This is the final return which must be filed by a person registered in GST in case of cancellation of GSTIN . This form must be filed within 90 days of the cancellation order.

Form GSTR11 – This is the statement of inward supplies by persons having UIN

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The taxpayers having turnover below 5 Crores may file the return form GST RET 1 Quarterly. The taxpayers having turnover more than 5 Crores shall file the return form GST RET 1 On monthly basis.

The first step to file GST Return in new system is to prepare the return filing profile depending on the turnover.

At the beginning of tax period, taxpayer has to update the profile by giving certain questions.

Firstly, Taxpayers has to declare, whether aggregate turnover during the previous fiscal was upto 5 Crores or not.

If the reply to above question is affirmative, then taxpayer will have an option to file quarterly or monthly returns in GST RET 1.

If the taxpayers opted for filing quarterly, then they will have 3 more options to choose between the return filing depending on the transactions.Taxpayers can choose between these three return forms

               Sahaj Return

              Sugam Return

              Quarterly Normal Return (GST RET 1)

Today we will discuss about the GST RET 1 return for both quarterly and monthly filers. Details required for both the category will be same only the periodicity of filing will be different .

Form GST RET 1 (Normal) Quarterly / Monthly Return

This return will have 9  Tables including the verification tab for taxpayers .

Table 1 and 2 requires the basic details of the taxpayers such as Gstin No and registration details such as Trade Name , Legal Name , ARN and Date of filing. These details will be auto pouplated by the GST Portal .

Table 3 is the summary of outward supplies, Inwards Supplies attracting reverse charge, debit and credit notes issued and tax liability on the same. Table 3 is divided into 5 Parts containing :

          Details of outward supplies,

          Details of inward supplies liable to reverse charge ,

          Details of credit and debit notes issued, advances received and adjusted , other                      reduction or adjustment in liabilities,

         Details of supplies having no liability, and

         Details of total value of supplies and tax liability there on .

Table 4 is the summary of inwards supplies for claiming Input Tax Credit on Purchases. It is divided into 5 Parts containing

           Details of Input Tax Credit based on auto population of Form GST ANX 1 by                             supplier , action taken in GST ANX 2 by recipient  and other claims.

          Details of Reversal of Input Tax Credits

          Details of Input Tax Credit available after adjusting the above details.

          Details of Input Tax Credit during the first two months of quarter. This field                              will be applicable only for quarterly filers.

          Last, the details of Net Input Tax Credit available. The amount in this table has                        to be bifurcated at capital goods and input services level separately.

Table 5 is the details for capturing TDS or TCS credit received by the taxpayers in electronic cash ledger for the said tax period

Also Read : GST COUNCIL DECISIONS

Also Read : GST REGISTRATION LIMIT

Table 6 is for the interest calculation and late fees liability for late filers of return and late payment of taxes.

Table 7 is the Payment of Tax in which the liability for given period has to adjusted with Cash ledger and ITC ledger as the case may be. This table will accept the negative values of previous tax periods also. The amount of tax already paid earlier by quarterly filers will be adjusted through this table and the remaining liability will be paid through this column by creating challan or using ITC.

Table 8 is for the details of refund claimed from electronic cash ledger during the tax period .

Table 9 is for the verification purpose before filing the return.

This return form can be filed online as well as offline. The majority of the details in this form will be auto populated through the annexures form GST ANX 1 (Annexure for Outward Supplies) and GST ANX 2 (Annexure for Inward Supplies) and GST PMT 08 (Payment of Tax) statement for quarterly filers only.

The facility to file this return form GST RET1 as NIL will be provided to the taxpayers through sending SMS .

The post GST NEW RETURN – RET 1 appeared first on GST Platform.

Grievance redressal committee will be constituted at state and zonal level to address the complains of taxpayers. This will comprise of CGST and SGST Officers along with representative of trade and industry and GST Practitioner, GSTN officers etc .

The due date for filing GST annual return in Form GSTR-9  and annual reconciliation statement in Form GSTR-9C for FY 17-18 has been extended till 31.01.2020 from 31.12.2019. For FY the due date for the same is 31.03.2020. The GST annual return and GST reconciliation statement is optional below 2 Crores.

Various measures will be taken to improve the filing of GSTR1 – Details of outward supplies :

A) The late fee would be waived of for filing GSTR1 from July 2017 to November 2019, if all the pending returns in form GSTR1 has been filed till 10.01.2020. After that late fees will be applicable for filing GSTR1.

B) Blocking of waybill to be implemented as per WAYBILL rules for not filing GSTR1 for two consecutive tax periods. Earlier, non-filing of GSTR3B was implemented for blocking of waybill. Thus , both GSTR1 and GSTR3B must be filed for previous two tax periods consecutively to generate waybill on the portal.

Input Tax Credit to the recipient in respect of invoices or debit notes which were not uploaded in GSTR2A shall be restricted to 10% of invoices that re uploaded. Currently, it is capped at 20% for such invoices.

Read Also : New ITC Rule 36(4) 

Read Also : Types of Registration Forms

The tax official will not allow the claim of input tax credit in case of fake invoices. The official can now block the input tax credit if it is claimed on the basis of fake invoices. For this suitable action will be taken by the tax officials for blocking fraudulently claimed itc on fake invoices.

A detailed operating procedure will be prescribed for the tax officers to take action against the non-filers of GSTR3B and suitable penalty and interest will be imposed on them  . This step will be in addition to blocking of waybill . In order to increase the compliance and increase the revenue CBIC will take these steps and laid down the procedures.

The due date for filing GST returns in Form GSTR3B , GSTR1 , GSTR7, GSTR8 for some of the districts of North East will be EXTENDED for November 2019 due to recent disturbances. Due date for filing GSTR1 and GSTR3B will be extended till 31.12.2019 and GSTR 7 and GSTR8 till 25.12.2019

The GST Council also approved many law related changes which will be brought in by amendments in GST Act in Union Budget 2020.

The GST Council also levied a single rate of 28% of Lotteries from 01.03.2020 for both categories such as State and Private Lotteries.

The GST Rate on woven and Non-Woven and sacks of polyethylene or polypropylene or the like having HSN code 3923/6305 has been increased from 12% to 18%.It shall be effective from 01.01.2020.

The GST Council also exempts the upfront amount payable for long term lease for industrial entity having 20% or more ownership of Central or State Government. Currently this limit is 50% . This change will be effective from 01.01.2020.

No waiver of late fees for filing GSTR-3B belatedly. Also,l there is no waiver for filing late GSTR-10 , Final returns which is required to filed upon cancellation of GST Number. The return must be filed within 90 days of cancellation order.

CLICK HERE TO DOWNLOAD THE PRESS RELEASE 

The post GST COUNCIL MEETING DECISIONS appeared first on GST Platform.

GST COUNCIL MEETING AGENDA 

GSTR9 AND GSTR9C DATE EXTENSION

The GST Council to take big decisions regarding date extension for filing GST Annual return in Form GSTR 9 and GST Audit reconciliation statement in Form GSTR- 9C for FY 2017-18.The filing for annual and reconciliation statement is due on 31^st December 2019.

CBIC has recently simplified the forms for GSTR9 and GSTR9C but the simplified forms are not available till date. As per GST Portal, the expected date for releasing the new and simplified forms is 21^st December 2019. Keeping this it is highly expected that the council may take decision on extension of the filing for extra month till 31.01.2020.

GST WAYBILL RULES TWEAKING 

The GST Council meeting is also expected to extend the blocking rule of waybill for non-filing of GSTR1. Presently, only the returns in GSTR3B is taken into consideration for blocking of waybill. If the returns in GSTR3B for two consecutive tax periods has not been filed then gst portal blocks such GSTIN for generating waybill. Now, to improve the compliance and ensure filing of GSTR1 , it may be decided to extend the blocking for GSTR1 also.

If GSTR1 or GSTR3B for two consecutive were not filed the ewaybill facility will be blocked for such GST numbers.

GST CREDIT BLOCKING 

The GST Council is also expected to take a call regarding, blocking of Input Tax Credit by the Tax Official. This decision may be taken on the backdrop of fake claims of Input Tax credit in GST on the basis of fake invoices. Already 25 states are using this method to plug the claims of Input Tax Credit on the basis of invoices that are not valid.

It may also be decided that all the past claims which are not valid may be reversed in the Electronic credit ledger in GST Portal . The reversal of Itc has to be done along with interest @ 24% as per the provisions of Section 50 of CGST Act .

GST CREDIT TO BE CAPPED @ 10%

Another big change on the agenda of GST Council ahead of crucial meeting on 18.12.2019 is regarding the capping of Input Tax Credit on invoices that has not been uploaded by the supplier.

Recently, CGST Rules were amended to insert new provisions in Rule36 (4) , which says that the input tax credit in respect of invoices not uploaded will be capped at a maximum of 20% of invoices that has been uploaded. To understand this rule you may read this article also.

Now the decision may be taken to reduce the percent of 20% to 10% of valid and eligible invoices for which credit will be allowed in respect of invoices not uploaded.

GST RETURN DUE DATE EXTENSION 

GST council meeting scheduled to held tomorrow may also extend the due date for filing GST Returns in form GSTR3B , GSTR1 , GSTR7 ,. GSTTR8 for North Eastern states due to disturbances in these areas after passing of Citizenship Amendment Act. The due date for filing GSTR3B for November 2019 may be extended from 20.12.2019 to 31.12.2019.

For filing GSTR1 monthly for November 2019, due date may be extended from 11.12.2019 to 31.12.2019

For filing GSTR7 and GSTR8 for November 2019 ,  due date may be extended from 10.12.2019 to 25.12.2019.

GST AMENSTY SCHEME FOR NON FILIERS

GST council in a measure to give relief to tax payers and augment revenue, may allow filing of GSTR1 under GST amnesty scheme. Gstr1 may be allowed to file without any penalty from July 17 to November 2019 . This scheme will be applicable if all GSTR1 pending will be filed till 10.01.2020.

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