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Gst Return filing Due Dates Updates due to Coronavirus Lockdown response
- 1. IRIS GST GST Updates 15th April, 2020
- 2. IRIS GST Agenda 2 Scope Updates in Returns Updates based on taxpayer type New Entry during Relief Measures Areas not relaxed Question & Answers
- 3. IRIS GST Circular 138/08/2020 06-05-2020 Circular 137/07/2020 13-04-2020 Notification 38 - 41/2020 05-05-2020 Notification 37/2020 28-04-2020 Notification 30 - 36/2020 03-04-2020 Scope
- 4. IRIS GST Updates in Returns GSTR 3B, 1, 9, 9C and other returns
- 5. IRIS GST GST Updates in GSTR 3B 5 SN Taxpayer type Update Area Relevant period Actual Due dates Extended dates Source 1 For turnover up to 1.5 crores 1) Due date is not extended 2) But Interest and late fees waived off till extended dates Feb 22nd & 24th March 2020 30-06-2020 Notification 31/2020 & Notification 32/2020 Mar 22nd & 24th April 2020 03-07-2020 April 22nd & 24th May 2020 06-07-2020 2 For turnover from 1.5 crores to 5 crores Feb 22nd & 24th March 2020 29-06-2020 Mar 22nd & 24th April 2020 29-06-2020 April 22nd & 24th May 2020 30-06-2020 3 For turnover up to 5 crores Due date extended May 22nd & 24th June 2020 12th & 14th July 2020 Notification 36/2020 4 For turnover above 5 crores 1) Due date is not extended 2) Late fees waived till extended due date 3) Interest waived for first 15 days from original due date post that chargeable at reduced rate of 9% till extended due date Note: Interest @9% shall be computed from due date + 15 grace days, if complied within extended date Feb 20-03-2020 24-06-2020 Notification 31/2020 & Notification 32/2020 Mar 20-04-2020 April 20-05-2020 5 For turnover above 5 crores Due date extended May 20 -06-2020 27-06-2020 Notification 36/2020 Post extended dates, interest @18% and late fees shall be levied from the original due date till date of compliance Post extended dates interest @18% and late fees shall be levied from the original due date till date of compliance
- 6. IRIS GST GST Updates in GSTR 3B 6 SN Taxpayer type Update Area Relevant period Actual Due dates Extended dates Source 6 For taxpayer registered under Companies Act, 2013 File through EVC 21st April to 30th June 2020 File through EVC Notification 38/2020 7 Nil return Furnish the Nil return through SMS using the registered mobile number and return shall be verified by a registered mobile number using OTP Facility. However, date of implementation of this rule is yet to be notified. Notification 38/2020 8 Provisional Credit Relief The condition of 10 % provisional ITC rule will apply cumulatively for Feb to Aug 2020. And any cumulative adjustment for input tax credit for these months can be reported in 3B of Sept 2020 Feb – Aug 2020 September 2020 Notification 30/2020 9th Oct to 31st Dec 20% - Month on Month 1st Jan to 31st Jan 10% - Month on Month 1st Feb to 31st Aug 10% to be reported cumulatively
- 7. IRIS GST GST Updates in GSTR 1 7 SN Taxpayer type Update Area Relevant period Actual Due dates Extended dates Source 1 For turnover above 1.5 crores 1) Due date is not extended 2) But late fees waived off till extended dates Mar 11-04-2020 30-06-2020 Notification 33/2020 April 11-05-2020 May 11-06-2020 2 For turnover upto 1.5 crores Jan to March Quarter 30-04-2020 Late fees will be computed from original due date, if compliance done after extended dates
- 8. IRIS GST GST Updates in Other Returns SN Taxpayer type Update Area Relevant period Actual Due dates Extended dates Source 1 GSTR-5 Due date extended March, April and May 20th of next month 30-06-2020 Notification 35/2020 2 GSTR-6 Due date extended March, April and May 13th of next month 30-06-2020 Notification 35/2020 3 GSTR-7 Due date extended March, April and May 10th of next month 30-06-2020 Notification 35/2020 4 GSTR-8 Due date extended March, April and May 10th of next month 30-06-2020 Notification 35/2020 5 ITC-04 Due date extended March Quarter 25th April 30-06-2020 Circular 138/08/2020 6 GSTR – 5A Due date extended 20th of next month 20-04-2020 7 Time limit of TDS Deposit extended No interest levied 30-06-2020 Circular 137/07/2020 8 Time limit of TCS Deposit extended No interest levied 30-06-2020 Circular 137/07/2020 E-Way Bill: E-way bill generated up to 24th March 2020 and if its validity period expires anytime between 20th March 2020 and 15th April 2020, shall remain valid until 31st May 2020 (Notification 39/2020)
- 9. IRIS GST GST Updates in Annual Returns SN Taxpayer type Update Area Relevant period Actual Due dates Extended dates Source 1 GSTR 9,9A & 9C FY 18-19 30-06-2020 30-09-2020 Notification 41/2020 2 Other Updates • Every taxpayer registered as normal taxpayer needs to file annual return i.e. GSTR 9 • GSTR 9C to be filed by taxpayers having aggregate turnover up to Rs. 2 Cr. • The turnover limit will be increased from Rs 2 crore to Rs 5 crore for mandatory annual return filing. Hence, filing GSTR-9C is optional for the taxpayers having the turnover less than Rs 5 crore for FY 18-19 • The taxpayers with an aggregate annual turnover of less than Rs 2 crore in FY 2017-18 and FY 2018-19 will not pay any late fee for delayed filing of GSTR-9. 39th council meeting
- 10. IRIS GST Update based on taxpayer type Composition and Exporters
- 11. IRIS GST GST Updates on Composition Taxpayers SN Taxpayer type Update Area Relevant period Actual Due dates Extended dates Source 1 CMP-08/ Statement of Payment of Tax Due date extended March Quarter 18-04-2020 07-07-2020 Notification 34/2020 2 GSTR-4 Due date extended FY 19-20 30-04-2020 15-07-2020 Notification 34/2020 3 CMP-02 The time limit to opt into the composition scheme for the FY 2020-21 in form CMP-02 has been extended FY 2020-21 31-03-2020 30-06-2020 Notification 30/2020 4 ITC-03 Due date extended FY 2020-21 60 days from the commenceme nt of the financial year 31-07-2020 Notification 30/2020
- 12. IRIS GST GST Updates for Exporters Exporters The validity of the Letter of Undertaking (LUT) extended to 30th June 2020 for FY 2019-20 and fresh LUT to be filed for the FY 2020-21 by 30th June 2020. In other words, the exporters who intend to export without paying Integrated GST (IGST) can continue to do so in the current financial year. They must quote the LUT reference number of the FY 2019-20 in their export documents. (Circular 137/07/2020) The requirement of exporting the goods by the merchant exporter within 90 days from the date of issue of tax invoice by the registered supplier gets extended to 30th June, 2020, provided the completion of such 90 days period falls within 20.03.2020 to 29.06.2020 (Circular 138/08/2020) Extension of the two-year time limit for claiming GST refund that expired on 31 March 2020. The circular explicitly states that such taxpayers may apply in Form RFD-01 by 30 June 2020 (Circular 137/07/2020)
- 14. IRIS GST Newly Entry – PMT 09 (Notification 31/2019) The facility to file PMT-09 and the CGST rules governing the same came into effect from 21st April 2020 via notification 37/2020 • It is a challan which can be used to shift amount of tax, interest, penalty, etc. that is available in the electronic cash ledger to any other tax head, cess, interest, penalty, etc. • All the registered taxpayers are eligible to file PMT-09 for shifting the balance available in Electronic Cash Ledger to any other appropriate tax head or cess head or interest or penalty etc • Form PMT 09 consists of major and minor heads. Major head are Integrated tax, Central tax, State/UT Tax, and Cess. Minor head are Tax, Interest, Penalty, Fee and others. • The form is useful if a taxpayer wants to transfer an amount from one minor head to a major head or vice versa. The amount can also be transferred from one minor head to another minor head under the same major head. • Same can be filed multiple times till the time balance is available in ECL
- 15. IRIS GST Assessments and Proceedings • Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020. • Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020 Other recent updates • Special GST compliance procedure notified via notification 11/2020 for the companies during the CIRP period further clarified in notification 39/2020 and Circular 138/08/2020 • Aadhaar authentication becomes important for certain type of persons getting registered under GST.
- 16. IRIS GST Areas not relaxed
- 17. IRIS GST Some areas which are open for relaxations (no relaxations provided)` 1. Issuing Invoices as per other provisions of GST Act and Rules 2. Applying for registration on becoming liable to be registered (including for casual taxable person and Non- Resident Taxable Person) 3. Opting out of Composition Scheme on crossing the threshold of composition scheme 4. Late fees in case of following • Final Return i.e. GSTR 10 (in case of cancellation of registration) • Delay in filing annual return for FY 17-18 and older period returns 5. Liability of Partner of firm to pay tax 6. Detention, Seizure and Release of goods and conveyance in transit including inspection of goods in movement 7. EWB Generation status to be blocked if GSTR 3B not filed on time for Feb, March and April (Relief only on interest and late fees)
- 19. IRIS GST
Editor's Notes
- No state level classification in extended dates 12th - whose principal place of business is 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 14th - whose principal place of business is in the States of 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
- When ITC has been over-reported then the taxpayers need to reverse such excess ITC with interest in the following month/quarter
- taxpayers having annual turnover upto Rs 1.5 crores can opt to file the GSTR-1 once in every quarter
- GSTR 5 - Every registered non-resident taxable person is required to furnish a return in GSTR-5 in GST Porta GSTR 5A - The filing of GSTR 5A is mandatory for the non-resident OIDAR service providers (Online Information and Database Access or Retrieval (OIDAR)) GSTR 6 - GSTR 6 is a monthly return that has to be filed by an Input Service Distributor. GSTR 7 - GSTR-7 is a monthly return to be filed by the persons required to deduct TDS under the GST. GSTR 8 - GSTR-8 is a monthly return to be filed by e-commerce operators registered under the GST. ITC – 04 - FORM GST ITC-04 must be submitted by the principal every quarter. He must include the details of challans in respect of the following- Goods dispatched to a job worker or Received from a job worker or Sent from one job worker to another
- Regular Taxpayers need to file GSTR 9 The GSTR 9 return needs to be filed by Regular Taxpayers filing GSTR 1, GSTR 2, and GSTR 3. It needs to be filed electronically on the GST portal directly or through a facilitation centre. GSTR 9A for Taxpayers under Composition Scheme E-commerce operators should file GSTR 9B GSTR 9C for annual turnovers of INR 2 crores or more Taxpayers whose annual turnover exceeds INR 2 crores in a Financial Year are required to get their accounts audited by a practicing Chartered Accountant or Cost Accountant before filing returns in Form GSTR 9C. Section 44 of CGST Act, 2017 mandates all GST-registered taxpayers (except casual taxable persons, non-resident taxable persons, Input Service Distributors, and individuals paying taxes under Section 51 or Section 52) to furnish annual returns in the Form GSTR 9 (GSTR 9A, GSTR 9B, or GSTR 9C as per the types of taxpayers).
- This means any regular taxpayer who wants to opt for composition scheme for FY 2020-2021, the intimation in FORM GST CMP-02 can be filed on or before 30-06-2020 and Form GST ITC-03 for ITC reversal should be furnished by 31-07-2020.
- GST LUT or Letter of Undertaking can be filed by exporters using Form GST RFD 11 to enable exports from India without making IGST payment. GST registered persons not eligible to file under GST LUT can undertake exports by furnishing export bond. Merchant Exporter means a person engaged in trading activity for exporting of goods. Merchant Exporter procures goods from the manufacture and export same in his firm name. Supplier shall supply goods to Merchant Exporter on tax invoice. Merchant export shall export goods with 90 days Rfd-01 - apply for the refund of taxes and interests paid in excess or the accumulated input tax credit in electronic credit ledger where the output tax liability is nil or balance in electronic cash ledger due to excess cash payment by filing RFD-01(online) or RFD-01A(Manually).
- Multiplr times possible
- are corporate debtors under the provisions of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), undergoing the corporate insolvency resolution process and the management of whose affairs are being undertaken by interim resolution professionals (IRP) or resolution professionals (RP), as the class of persons who shall follow the following special procedure, from the date of the appointment of the IRP/RP till the period they undergo the corporate insolvency resolution process
- Time of supply intro, arrest, ewb delete 7th point