GST News and Updates

GST in India is constantly evolving with changes to rules, due dates, forms, and GST technology. It is vital to follow and be aware of these news updates to stay GST compliant. Read this article and stay up-to-date.

39th GST Council Meeting Updates

Due dates to implement E-Invoicing and QR Code is extended to 1st October 2020. The current system of filing GST Returns such as GSTR 1 and GSTR 3B will continue until September 2020.

Since 1st April 2020, mobile Phones and specified parts will attract 18% GST. All Matches will attract 12% GST and the GST on Maintenance, Repair, and Overhaul (MRO) services are now reduced to 5%.

Due dates to file GSTR 9 and GSTR 9C for the financial year 2018-19 is moved to 30th July 2020. Also, filing GSTR 9C is now optional for taxpayers with less than Rs. 5 crores aggregate turnover in the financial year 2018-19.

GST News and Updates - 2020

The Government introduced filing of Nil GSTR-3B Return by sending an SMS from the registered mobile number. Checkout GSTZen's NIL GSTR-3B Return filing tool.

Considering the impact of COVID-19 pandemic, the government announced simplifications, additional relief measures and issued clarifications.

Considering the impact of COVID-19 pandemic, the government announced several relief measures in the form of relaxation in filing dates, late fee, and interest.

Due dates to implement E-Invoicing and QR Code is extended to 1st October 2020. Also, Taxpayers in classes such as Insurance, Banking companies, Financial institution, Non-banking financial institution, GTA, Passenger transportation service, etc will be exempted from issuing E-Invoices or capturing QR code.

GSTZen has developed E-Invoice software that will help you create E-Invoices through an Excel connector or your ERP. Our articles on E-Invoice integrations provide a detailed explanation of how the tool works.

Due date to file Form GSTR 9 and Form GSTR 9C returns for the financial year 2018-19 is extended to 30th July 2020.

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 1, FORM 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.