GST Notifications issued by CBIC dtd 15.10.2020 - Due date of GSTR3B, GSTR1, HSN codes and much more
CBIC issues various notifications to implement some of the suggestions of GST Council meeting held recently. Notification No. 74/2020, 75/2020, 76/2020, 77/2020, 78/2020, 79/2020 dated 15-10-2020 have been issued to give effect the council recommendation. Let's discuss in detail all the above notifications issued by CBIC dtd. 15.10.2020.
(Notification No. 74/2020 – Central Tax)
Due date of filing of GSTR-1 (Quarterly taxpayers) for the registered persons having aggregate turnover of up to Rs. 1.50 crore in the preceding financial year or the current financial year has been changed to 13th of the month succeeding such quarter.
(Notification No. 75/2020 – Central Tax)
Due date of filing of GSTR-1 (monthly taxpayers) for the registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year has been changed to 11th of the month succeeding such month.
(Notification No. 76/2020 – Central Tax)
Due date of filing of GSTR3B for the month of Oct'20 to March '21 shall be as follows:-
1. Turnover more than Rs. 5 crore - 20th of next month 2. Turnover upto Rs. 5 crore - 22nd or 24th month as per below:-
The registered persons of 15 States/ UTs, i.e., Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh will be having the last date of filing GSTR-3B returns as 22nd of the month without late fees
For the registered taxpayers of remaining 22 States/UTs of Jammu and Kashmir, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha having annual turnover below Rs 5 crore in previous financial year will be having last date of filing the GSTR-3B as 24th of the month without late fees
Date to pay tax liability - Discharge of liability towards tax by debiting the electronic cash ledger or electronic credit ledger not later than the last date as specified above on which he is required to furnish the said return.
(Notification 77/2020 - Central Tax)
Registered persons having turnover upto Rs. 2 crores in preceding financial year or current financial year shall have an option not to file GSTR-9 for FY 2019-20. In case, the return is not filed by the due date of filing of said return, it shall be deemed that such return have been furnished by the registered person.
Earlier this benefit was provided vide notification no. 47/2019- Central tax dtd. 9th Oct,2019 for the FY 2017-18 & 2018-19.
(Notification No. 78/2020 – Central Tax)
Requirement of HSN code to be mentioned in a tax invoice issued by a registered taxpayers w.e.f 1st April 2020 are as follows:-
Aggregate Turnover in the preceding Financial Year :-
1. Up to rupees five crores - 4 Digits of HSN code 2. more than rupees five crores - 6 Digits of HSN code
Provided a registered person having aggregate turnover up to five crores rupees in the previous financial year may not mention the number of digits of HSN Code in a tax invoice issued by him to unregistered persons.
(Notification No. 79/2020 – Central Tax)
Vide this notification, CBIC has amended CGST rules and named it as "Central Goods and Services Tax (Twelveth Amendment) Rules, 2020". wherein changes have been made in the rules and various Forms as mentioned below:-
Rule 46 of Central Goods and Services Tax Rules, 2017 - HSN code.
Rule 67A of Central Goods and Services Tax Rules, 2017 - Manner of furnishing of return or details of outward supplies by short messaging service facility.
Rule 80 (3) - No GST Audit for Small taxpayers having Aggregate Turnover upto Rs. 5 Crore, which was applicable for FY 2018-19, now extended to FY 2019-20 as well.
Form GSTR-9 etc.