GST News and Updates – 2021

Important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers.

GST Collection

Extension in dates of various GST Compliances for GST Taxpayers

Clarifications regarding B2C QR Code

Extension of the due date of filing Application for Revocation of Cancellation of Registration

Waiver on Import duty for medicine used for Black Fungus

New features of Form GSTR 1, GSTR-2B & GSTR-3B made available to taxpayers under QRMP Scheme,

COVID relief: Govt allows businesses to verify monthly GST returns through EVC till May 31.

In the third phase of e-invoicing rollout, the government has made e-invoicing mandatory for entities whose turnover is above 50 Cr from 1st April 2021. E-invoicing would be applicable for business-to-business transactions.

As per the amendment, it is mandatory to report a minimum of 4 digits or 6 digits HSN Code in Table-12 of GSTR 1 on the basis of aggregate turnover on PAN in the previous financial year.