GST News and Updates – August 2021

 

Central Tax Notifications

 

Notification 32/2021 – Extension of filing GSTR 1/3B with EVC

  • Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing of GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021 to 31.08.2021.
  • The last date to avail benefit of the late fee amnesty scheme, has now been extended to 30.11.2021.

Notification 33/2021 – Extension of date for availing benefit under Amnesty Scheme

  • Government had provided relief to the taxpayers by reducing / waiving late fee for non- filing of GSTR-3B for tax periods from July, 2017 to April, 2021, if the returns are furnished between 01.06.2021 to 31.08.2021.
  • The last date to avail benefit of the amnesty scheme, has now been extended to 30.11.2021.

Notification 34/2021 – Extension of date for application for revocation of cancellation

  • Government has extended the timelines for filing of application for revocation of cancellation of registration (Due date of filing – 1st March 2020 to 31st August 3021) to 30.09.2021.
  • Applicable only where registrations have been cancelled under clause (b) or (c) of sub-section (2) of section 29 of the CGST Act.

Advisory for Taxpayers regarding Blocking of E-Way Bill (EWB) generation facility resume after 15th August, 2021.

 

1. The E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their return in Form GSTR-3B (Monthly / Quarterly) / statement in CMP-08, for a two or more consecutive tax periods, in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017. The facility of blocking E way bill generation has been temporarily suspended due to pandemic.

2. The government has now decided to resume the blocking of EWB generation facility on the EWB portal, for all the taxpayers in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017, after 15th August onwards.

3. After 15th August 2021, the System will check the status of returns filed in Form GSTR-3B or the statements filed in Form GST CMP-08, and block the generation of EWB in cases of:

  • Non filing of two or more returns in Form GSTR-3B (Monthly/Quarterly frequency as may be applicable) for the tax periods up to June, 2021 and
  • Non filing of 02 or more statements in Form GST CMP-08 for the quarters up to April to June, 2021

4. To avail continuous EWB generation facility on EWB Portal, taxpayers are advised to file your pending Form GSTR 3B (Monthly/Quarterly frequency as may be applicable)Returns/ Form GST CMP-08 Statements immediately.


GSTR-9C reconciliation statement form is available for FY 2020-21 e-Filing on the GST official web portal.

 

GSTR-9C is an annual GST reconciliation statement that underwent a major change in 2021. GSTR 9C was earlier applicable to businesses with more than Rs.2 crore as annual turnover in a particular financial year. It required the audit of books and records of that year by a chartered accountant or a certified management accountant and their certification. The requirement of audit has been removed by Notification No 29/2021. Instead, GSTR-9C is to be self certified by the businesses themselves.

Under Rule 80 of CGST Rules – Taxpayers having AATO below 5Cr are exempted from filing GSTR 9C


GST revenue collection for July at over Rs 1.16 lakh crore

 

Out of the total revenue collected CGST was Rs 22,197 cr, SGST was Rs 28,541 cr, IGST was Rs 57,864 cr- including Rs 27,900 cr collected on import of goods- and Cess was Rs 7,790 cr- including Rs 815 cr collected on import of goods.

The revenues for the month of July 2021 are 33 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 36 per cent higher and the revenues from domestic transaction (including import of services) are 32 per cent higher than the revenues from these sources during the same month last year.

GST collection, after posting above Rs 1 lakh crore mark for eight months in a row, dropped below Rs 1 lakh crore in June 2021 as the collections during the month of June 2021 predominantly related to the month of May 2021 and during May 2021, most of the states/UTs were under either complete or partial lockdown due to Covid.


Levy Of GST On Entire Bet Amount in Horse Races : Karnataka High Court Stays Order Declaring Rule 31A(3) Of CGST Rules, 2017 Ultra Vires

 

A division bench of the Karnataka High Court has stayed the operation of the single bench order passed on June 2, by which it had declared Rule 31A(3) of the Central Goods and Services Tax Rules, 2017 as amended in terms of the notification dated 23.01.2018 as ultra vires the provisions of the Central Goods and Services Tax Act, 2017 Act and Rule 31A of the Karnataka Goods and Services Tax Rules, 2017, as ultra vires the provisions of the Karnataka Goods and Services Tax Rules, 2017, as ultra vires the provisions of the Karnataka Goods and Services Tax Act, 2017.