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GST News and Updates - September 2019

1) The Central Government through CGST Notification 42/2019 brought into effect from Sep 24, 2019 amendments to the following Rules related to Refunds

2) Relaxation in Filing of GST Annual Return The GST Council in their 37th Meeting on Sep 20, 2019 announced Waiver of the requirement of filing Annual Return GSTR-9A for Composition Taxpayers for the years 2017-18 and 2018-19. Filing of Annual Return GSTR-9 and Reconciliation Statement GSTR-9C required only for Tax Payers with annual aggregate turnover above Rs. 2 Crores.

3) Introduction of New GST Returns - Normal, Sahaj, and Sugam from April 2020.

4) The GST Council proposes to restrict taxpayers from availing Input Tax Credit in their GSTR-3B if their Suppliers have not uploaded details of Invoices in their GSTR-1. As of now, this is only a proposal and there is no official notification to this effect.

5) The GST Council rescinds/withdraws Circular 105/2019 on Post-sales discounts.

Working of GST Portal

Starting Sep 24, 2019, the GST Common portal introduced an online system of claiming GST Refund. This system allows taxpayers to file a refund application and tax officers to process the refund application online. This initiative will make all communication between the Tax Officer and Tax Payer online. Since a single authority disburses CGST and SGST, Tax Payers will receive their refunds on a timely basis.