In the 42nd GST Council series of measures have been announced on the due date and increasing the existing threshold from Rs 1.5 Crores to Rs 5.00 Crores for GST Returns filing as part of increasing the ease of doing business.
In the 42nd GST Council series of measures have been
announced on the due date and increasing the existing threshold from Rs 1.5
Crores to Rs 5.00 Crores for GST Returns filing as part of increasing the ease
of doing business.
Notification No 74/2020 – Central Dated 15th Oct
2020
All the registered taxpayers who are filing returns on a quarterly
basis for GSTR – 1, the dates for the next two quarters have been notified.
Sr.No |
Quarter |
Due Date |
1 |
October 2020 –
December 2020 |
13th Jan
2021 |
2 |
January 2021 –
March 2021 |
13th
April 2021 |
Note: The time for the return period has been
reduced from month end to the 13th of the month in the subsequent
quarter for GSTR – 1 on quarterly filing.
Notification No 75/2020 – Central Dated 15th Oct
2020
All the registered taxpayers who are filing returns on a monthly basis
for GSTR – 1, the dates for the next six months are notified
Sr.No |
Month |
Due Date |
1 |
October 2020 |
11th
November 2020 |
2 |
November 2020 |
11th
December 2020 |
3 |
December 2020 |
11th
January 2021 |
4 |
January 2020 |
11th
February 2021 |
5 |
February 2020 |
11th
March 2021 |
6 |
March 2020 |
11th
April 2021 |
Notification No 76/2020 – Central Dated 15th Oct
2020
The due dates for filing of GSTR – 3B on a monthly basis for taxpayers
having turnover below Rs 5.00 crores for the months from October 2020 to March
2021
Sr.No |
States |
Due Date |
1 |
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 |
22nd of
Every month |
2 |
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 |
24th of
Every month |
Payment of taxes, interest & penalty
Sr.No |
Nature of
Discharge |
Register/s to be
debited |
1 |
Tax Liability
(CGST, SGST, IGST, Compensation Cess) |
Electronic Credit
Ledger or Electronic Cash
Ledger |
2 |
Interest, Penalty,
Late Fee, or any other amount payable |
Electronic Cash
Ledger |
Notification No 77/2020 – Central Dated 15th Oct
2020
Taxpayers who are having a turnover of less than Rs 2.00 crores are
given an option of not filing of Annual Return for the Financial Year 2019-20.
Notification No 78/2020 – Central Dated 15th Oct
2020
The number of digits of the HSN code to be shown on the tax invoice is being
changed from 1st April 2020.
Sr.No |
Aggerate
Turnover |
Type of
Transactions |
No of Digits of
HSN Code |
1 |
Up to Rs 5.00
Crores |
B2B |
4 |
2 |
Up to Rs 5.00
Crores |
B2C |
Optional to mention
|
3 |
Above Rs 5.00
Crores |
B2B & B2C |
6 |
In B2C transactions, it is optional to show it on the Tax Invoice, but
the same has to be reported in GSTR – 1 and GSTR – 9. This notification is
restricted to the display of HSN Codes on tax invoices only.
Notification No 79/2020 – Central Dated 15th Oct
2020
Central Goods and Service Tax Rules 2017 has been amended to facilitate
some changes to the taxpayers and improve the ease of doing business. The
changes made to the provisions will be applicable from the date of notifying
the same in the Gazette.
1.Filing of NIL
Returns through SMS
Taxpayers can file nil returns or statements through the
registered mobile number of the taxpayer. The Nil Returns or Statements can be
filed for the following
2.Threshold for GST Audit
The threshold limit for the GST Audit has been
increased to Rs 5.00 crores for the taxpayers having turnover for the financial
years 2018-19 and 2019-20
As per the provisions of Rule 138E, for taxpayers who
have not filed returns for two consecutive periods, the generation of e-waybill
is blocked.
The restrictions have been relaxed based on the trade
and industry representations due to the prevailing pandemic-like situation.
The above restrictions will not be applicable for the
returns period from February 2020 to August 2020.
4. Changes to Form GSTR – 2A
As of now, the data are shown in the GSTR – 2A is only
related to the filing of supplier's returns. Now the same is updated to show
the data related
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