COMPLIANCE UPDATER FOR THE MONTH AUGUST 2020

Due to the current situation of COVID-19, considering the difficulties faced by GST taxpayers by Central Board Direct Taxes (CBDT). They have extended the due dates for filing GST returns.

GSTR-3B Due dates for May 2020-

1. Taxpayers having an aggregate turnover of Rs.5 Crore in the F.Y

2. Taxpayers having aggregate turnover upto Rs. 5 crores in the preceding FY (Group A)

Group A states include Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman, and Nicobar Islands, Lakshadweep

3. Taxpayers having aggregate turnover upto Rs. 5 crores in the preceding FY (Group B)

Group B States includes Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

Relaxation of  Late Fee to Normal Taxpayers filing Form GSTR-3B

1. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

ii) Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY

States:

Group A- Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

Group B- Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

Taxpayers who are yet to file Form GSTR-3B for any month(s) from July, 2017 till Jan, 2020, can now file Form GSTR-3B from 1st July, 2020 till 30th Sept., 2020, without any late fee, for those months in which they did not have any tax liability. However, for the months they had a tax liability, their late fee is capped at Rs 500 per return.

iii) Late Fee Relief to Normal Taxpayers filing Form GSTR-1:

If the Form GSTR-3B and Form GSTR-1 for the period mentioned in Tables above is not filed by the notified dates, late fee will become payable from the due dates for these returns.

Compliances for Composition taxpayers:

 Non-Resident Tax Payers, ISD, TDS & TCS Taxpayers for the month of March, April, May, June & July 2020

Extension of the validity period of EWB:

The validity of E-way bills (EWBs), generated on or before 24th March, 2020, and whose validity expiry date lies on or after 20th March, 2020, is deemed to have been extended till 31st August, 2020.

GST UPDATES from 01.07.2020 to 31.07.2020:

• Seeks to make eighth amendment (2020) to CGST Rules
• Seeks to extend the due date for filing FORM GSTR-4 for financial year 2019-2020
• Seeks to make Ninth amendment (2020) to CGST Rules
• Seeks to amend Notification no. 13/2020-Central Tax in order to amend the class of registered persons for the purpose of e-invoice
• The Central Goods and Services Tax (Ninth Amendment) Rules, 2020.
• Goods and Services Tax (Removal Of Difficulties) Order, 2019
• Amendment in the notification of the Government of India in the Ministry of Finance, No. 21/2019- Central Tax, dated the 23.04.2019
• The Central Goods and Services Tax (Eigth Amendment) Rules, 2020.