GST News and Updates – 2019

e-Invoicing will be introduced for taxpayers with over 500 crores aggregate turnover on 1st January 2020. Starting 1st April 2020, e-Invoicing will be madated for all taxpayers over 100 crores aggregate turnover.

Clarification issued on the recovery process against non-filers of returns. A notice in FORM GSTR 3A is issued 5 days after the due date of the return. After 15 days of receiving this notice the assessment officer may issue FORM GST ASMT 13. After 30 days, the proper officer may initiate recovery under Section 79 of the CGST Act.

Due dates for FORM GSTR 1FORM GSTR 3B and FORM GSTR 7 are extended for the states Jammu, Kashmir, Assam, Manipur and Tripura

Due dates for GSTR 9 and GSTR 9C were extended and the forms were simplified.

Any businesses with turnover of Rs.500 crore or more need to take up e-Invoicing from 1 January 2020. From 1st April 2020, e-Invoicing will become mandatory for both classes of companies.

Under Central Tax Notification – 51/2019, the government has declared that Jammu Commissionerate has jurisdiction over Union Territory of Jammu and Kashmir and Union Territory of Ladakh.

ITC can only be claimed against invoices reflecting GSTR 2A. Rule 36 – Documentary requirements and conditions for claiming ITC limits taxpayers from availing ITC in their GSTR 3B if their Suppliers have not uploaded details of Invoices in their GSTR 1. Also, recipient can take credit only upto 20% above ITC reflecting in GSTR 2A.

Starting Sep 24, 2019, GST Common portal introduced an online system of claiming GST Refund that allows taxpayers to file a refund application and tax officers to process the refund application online.

Filing Annual Return GSTR 9 and Reconciliation Statement GSTR 9C is now required only for Tax Payers with annual aggregate turnover above Rs. 2 Crores.