GST Updates for Registered Taxpayer, Consultant & Professional

Relief in rate of interest & Waiver of Late Fee for filing GSTR-3B and statement in Form CMP-08 by the composition tax payers : (Notification No.08/2021-Central Tax & Notification No. 09/2021-Central Tax dated 01.05.2021)

For Turnover > 5 Crores in preceding FY in case of GSTR 3B Return.

* 18 % thereafter and also please make a Note: Interest will be charged in staggered manner wherever applicable. If return not filed within due dates, then late fees @ Rs. 50/- (Nil Return: Rs. 20/-) per day will be applicable from the next day after the due date as may be prescribed/specified.

For Turnover < 5 Crores in Preceding FY in case of GSTR 3B Return (Category A States)

*thereafter 18% and Category A: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra

Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep

For Turnover < 5 Crores in Preceding FY in case of GSTR 3B Return (Category B States)

*thereafter 18% and Category B: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of J&K, Ladakh, Chandigarh or Delhi.

Relaxations to Composition Taxpayers

*thereafter 18%

Due date of filing GSTR-4: (Notification No. 10/2021)

The due date for furnishing return in Form GSTR-4 (Composition Tax payers) for the financial year ending 31st March,2021 has been extended from 30th April, 2021 to 31st May, 2021.

Due date of filing ITC-04: (Notification No. 11/2021)

The due date for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to or received from a job worker, during the period from 1st January,2021 to 31st March, 2021 (For Quarter) has been extended from 25th April, 2021 to 31st May, 2021.

Due date of filing GSTR-1: (Notification No. 12/2021)

The due date for furnishing details of outward supplies in Form GSTR-1 for the month of April-2021 has been extended from 11th May, 2021 to 26th May, 2021.

Applicability of Rule-36(4): (Notification No. 13/2021)

Rule 36(4) shall apply cumulatively for the period April 2021 and May, 2021 and the return in FORM GSTR-3B for the tax period May, 2021 shall be furnished with the cumulative adjustment of ITC for the said months.

The details using IFF for the month of April , 2021 can be furnished from 1st May, 2021 till 28th May, 2021.

Other Compliances which falls between 01.05.2021 to 31.05.2021 has been extended to 15.06.2021: (Notification No. 14/2021)

• The time limit for completion of action of verification by the proper officer of the application for GST registration and its approval (Rule-9 of CGST rules pertaining to Verification of the Application and Approval)
• Filing of any Appeal ,Reply and Application
• Furnishing of any Report, Document ,Return Statement or such other record

Notification no. 13/2021, 12/2021 and 10/2021 – Central tax pertaining to due Dates for GSTR-1/IFF

NO BENEFIT OF EXTENSION IN FOLLOWING CASES

• Chapter IV related to Time & Value of supply (Section 12 to 15)
• Compulsory opt-out of Composition Scheme on T/O exceeds Specified Limit (1.5Cr/75Lakhs) as per Section 10.
• Sec. 68-Inspection of Movement of Goods in respect of E-Way Bill provision

NO BENEFIT OF EXTENSION IN FOLLOWING SECTIONS

Sec 25 Procedure for Registration

Sec 27 CTP & NRTP Provisions

Sec 31 Tax Invoice Provisions

Sec 37 Filing GSTR1

Sec 47 & Sec 50- Late Fees and Interest

Sec 69 Power to Arrest

Sec 90 Liability of Partners of firm to pay tax

Sec 122 Penalty for certain offences

Sec 129 Detention, seizure, & release of goods & conveyance in transit

TIME LIMIT EXTENDED

Refund Orders under Section 54(5) and Section 54(7) shall be extended up to 15 days after the receipt of reply to the notice OR 31st May’2021 (W.E. later)

The new GSTR 1 HSN summary table will now take effect from May’21 Return, not from April’21 return:

• Now, GSTR 1 HSN summary table shows HSN, Description & UQC but from May 2021, onwards, it will be HSN, UQC & Rate.
• Description is not applicable as it will be auto-populate which is based on HSN.
• Column Rate will be mandatory and value will be non-mandatory GSTR 1 HSN summary table

Import of oxygen concentrators for personal use exempted till July 31, 2021:

The DGFT vide Notification No. 4/2015-2020, April 30, 2021 has issued amendment in Para 2.25 of the Foreign Trade Policy, 2015-20 (“FTP”), that deals with the import of goods.

GST Returns 3B and GSTR-1 without DSC : –

The CBIC allowed the companies to file GST Returns without Digital Signature Certificate (DSC) with Mobile One Time Password (OTP) verified through electronic verification code (EVC)

New feature on the GST portal : –

Return Calendar : Registered person can allow to check the past 5 returns periods as to avoid incurring any interest or late fee.

Helpdesk : –

CBIC setup Dedicated Helpdesk for Handholding Trade, Industry and Individuals to expedite Customs Clearance of Imports related to COVID:

Recent AAR & Judicial Decisions:-

No GST on membership subscription fees and Infrastructure development fund collected from the members collected from members: (M/s. Calcutta Club Ltd.)

AAR on the Pharmaceutical Reference Standards (Prepared Laboratory Reagents) imported and supplied by the Appellant and classified under Tariff Item 3822 00 90 of the Customs Tariff Act, 1975 is covered under Entry No. 80 of Schedule-II to Notification No. 1/2017-Integrated Tax (Rate) dated 28.06.2017 attracting a levy of Integrated Tax at the rate of 12%.

Other Relaxations

> Due date for filing ITC04 (Goods dispatched to /received from Job work) for the Q4 (Jan-Mar) of 2020-21 has been extended to 31.05.2021 as per notifications no. 11/2021 –Central Tax.

> Rule 36(4) pertain to restriction of 10% Provisional ITC shall apply cumulatively for the period April & May-2021 in the return FORM GSTR-3B for the tax period May-2021

The time limit for completion of action of verification by the proper officer of the application for GST registration and its approval (Rule-9 of CGST rules pertaining to Verification of the Application and Approval) falls between 01.05.2021 to 31.05.2021 has been extended to 15.06.2021 as per notification no. 14/2021-Central Tax.

RELEVANT GST NOTIFICATIONS

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