GST on license fee charged by the States for grant of Liquor licences to vendors
Clarification on the effective date of explanation inserted in notification No. 11/2017- CTR dated 28.06.2017, Sr. No. 3(vi)
Clarification regarding taxability of supply of securities under Securities Lending Scheme, 1997
Clarification regarding determination of place of supply in case of software/design services related to Electronics Semi-conductor and Design Manufacturing (ESDM) industry
Clarification on applicability of GST exemption to the DG Shipping approved maritime courses conducted by Maritime Training Institutes of India
Levy of GST on the service of display of name or placing of name plates of the donor in the premises of charitable organisations receiving donation or gifts from individual donors
- As per GST Council decision, it was decided to continue with the existing system of filing GSTR 3B till March 2020. Notification 44/2019 prescribes the due dates for filing GSTR 3B Returns for the period from Oct’2019 to Mar’2020. GSTR 3B for these months shall be furnished on or before 20th of the month succeeding such month. The tax,penalty,Interest , if applicable shall be paid before filing the return.
- As per Notification No 45/2019, in respect of tax payers whose aggregate turnover is less than 1.50 Crores shall file GSTR 1 return on quarterly basis, as follows :-
- For the Quarter Oct-Dec 2019 – On or before 31st Jan 2020
- For the Quarter Jan-Mar 2020 – On or before 30th April 2020
- As per Notification No 46/2019, in respect of tax payers whose aggregate turnover is more than 1.50 crores shall file GSTR 1 on a monthly basis , for the period Oct’19 to Mar’20 on or before 11th of the succeeding month.
- As per the GST council decision, tax payers with aggregate turnover of less than 2 crores can file the Annual Return optionally. Notification No 47/2019 has notified that in respect of those taxpayers, if the Annual return (for 2017-18 & 2018-19) is not filed on or before due date, the same is deemed to be filed on or before the due date.
In our view, In the absence of clarity and to avoid future complications (Department Audt/Assessment), we suggest that the Annual return for 2017-18 & 2018-19 shall be filed voluntarily, even though it is not mandatory.
- To put an end to the problem of unmatched Input Tax credits, it has been proposed that the GST Credit shall be claimed as per the invoices uploaded by the suppliers. If you are claiming those credit even if it is not uploaded by your supplier, the difference cannot exceed 20% of the Total of the invoices uploaded.
Effectively, you can claim Input Tax Credit only if it appears in GSTR-2A. In case if you are claiming in excess of the credits appearing in GSTR 2A, the same cannot exceed 20% of the credits as appearning in GSTR 2A
- GSTR 3B has been notified as a Return , RETROSPECTIVELY. (i.e.,) w.e.f. 1st July 2017. Hence GSTR 3B is also considered as return now. In a recent Gujarat High Court case (AAP & Co.,) judgement was given with a decision that GSTR 3B is not a return and hence a view was taken that Input Tax Credit can be claimed at the time of filing the Annual return even though the statutory deadline has expired. Now, with this retrospective amendment, the application of the judgement stands nullified
- A new Form DRC-01A has been notified for intimation by the tax authority regarding the tax,penalty,interest etc., A reply to this intimation shall be filed by the taxpayers in Form DRC-01A Part B. The Voluntary payment of taxes shall continue to be paid by using DRC-03.
The relevant notifications are attached herewith.
The New return form CMP-08 , for GST dealers who have opted for payment of tax under Composition scheme is now available in the GST portal.
The return for the period Apr 2019 – June 2019 can be filed now using the new form CMP 08.
The last date for filing the CMP-08 for the above period has been extended upto 31st of Aug 2019.
The relevant notification is provided below
New GST Input Tax Credit (ITC) Set off procedure w.e.f. 01 st Feb 2019.