Starting 1st January 2020, the government will introduce e-Invoicing for taxpayers with over 500 crore aggregate turnover. From 1st April 2020, e-Invoicing is made mandatory for all taxpayers with over 100 crores aggregate turnover.
Starting 1st April 2020, the invoices a registered person with over 500 crores aggregate turnover issues to an unregistered person should have a Quick Response (QR) code.
Central Government introduced 10 Common Goods and Services Tax Electronic Portals to create e-invoice. You may read GSTZen’s article on Invoice Registration Portal (IRP) for more information.
As per CGST Notification 68/2019, Rule 48(4), when an e-invoice is created, it is mandatory to issue FORM GST INV-01 and obtain an Invoice Reference Number.
Initially, taxpayers could have availed 20% of the eligible ITC if the supplier did not upload their invoices. CGST Notification 75/2019 dated 26th December 2019 modifies the Rule 36(4) stating that the taxpayer can now avail 10% of the eligible credit if the invoices are not submitted by the supplier.
As per the Circular number – 122/2019, effective from 8th November 2019, any communication from the CBIC to tax payers should mandatorily have a Document Identification Number (DIN).
Any communication with no DIN shall be treated as Invalid. Recipients can Verify DIN online.
If taxpayers fail to file a return as per Section 39, Section 44 or Section 45, a notice in FORM GSTR 3A is issued 5 days after the due date of the return. If the defaulter does not file the return within 15 days of receiving the notice, the assessment officer may issue FORM GST ASMT 13.
If the defaulter files return within 30 days of issuing FORM GST ASMT 13, the assessment order can be considered withdrawn. Failing to file a return within the 30 days, the proper officer may initiate recovery under Section 79 of the CGST Act.
Due dates for July 2019 to October 2019 for FORM GSTR 1 is extended to 20th December 2019.
Due dates for July 2019 to October 2019 for FORM GSTR 7 is extended to 20th December 2019.
Due dates for the month of July 2019 to October 2019 for FORM GSTR 3B is extended to 20th December 2019. The due date for November 2019 is extended to 23rd December 2019
Due date to file FORM GSTR 1 for the month of November 2019 for taxpayers with an aggregate turnover of more than 1.5 crores is extended to 31st December 2019.
Due date to file FORM GSTR 3B for November 2019 is extended to 31st December 2019.
Due date to file FORM GSTR 7 for November 2019 is extended to 25th December 2019.
CGST Notification – 71/2019 brings the Rule 5 – Conditions and restrictions for composition levy into force on 1st April 2020.
CBIC has withdrew, ab-initio, the Circular number – 107/2019 dated 18th July 2019 regarding the supply of Information Technology enabled Services (ITeS services).
Under CGST Notification 74/2019, if a taxpayer files FORM GSTR 1 for the period of July 2017 to November 2019 within 10th January 2020, the late fees will be considered waived off.
Rule 86A introduced restrictions to use the ITC in taxpayer’s electronic credit ledger. The Commissioner’s office can block the ITC if they suspect that the taxpayer is committing fraudulent activities.
Amendment in the Rule 138E specifies that taxpayer who has not filed FORM GSTR 1 for any two months or quarters would not be able to generate E-Way bill