A. Gist of Notifications dated September 4th, 2018 issued under Central Goods & Services Tax Act, 2017-
CBIC issued Notification No. Notification No. 39/2018 – Central Tax to Notification No. 42/2018 – Central Tax and notified Annual GST Return 9 for all eligible Taxpayers and 9A for Composition Dealers. In addition to that it extended due date for filing of ITC-04, Waived Late Fees for GSTR-3B, GSTR-4 and GSTR-6 and extended due date for filing of ITC-01 (ITC Eligibility upon withdrawal from composition scheme).
| Context | Gist |
| Notification No. 39/2018 – Central Tax | |
| Amendment in Rule 22 of CGST Rules, 2017 | Proceedings initiated for cancellation of registration to be dropped upon furnishing of returns, payment of applicable tax along with late fees & Interest in a case where proceeding were initiated on account of on account of not furnishing of return for 3 consecutive tax period/six months for Composition Registered Person & Regular Registered Person respectively. |
| Amendment in Rule 36 of CGST Rules, 2017 | Input Tax Credit (ITC) shall be available if document contains following particulars i. Amount of Tax charged ii. Description of Goods or services iii. Total Value of supply of goods or services or both iv. GSTIN of supplier & recipient & v. Place of supply (in case of inter-state supply) Prior to this amendment ITC was available only when eligible document contains all the particulars as required. e.g. In order to avail ITC a Tax Invoice must contain 17 particulars as enumerated in Rule 46. Now this has been relaxed |
| Amendment in Rule 138A of CGST Rules, 2017 | E-Way Bill to include Bill of Entry details in case of Import; Person in charge of a conveyance to carry a copy of Bill of Entry also |
| Amendment in Format of ITC-04 | Format of ITC-04 (Quarterly return when goods sent on job-work) has been amended to include losses & Waste |
| FORM – GSTR-9 Notified | Much awaited – Format of Annual Return for Regular Registered person has been notified |
| FORM – GSTR-9A Notified | Much awaited – Format of Annual return for person registered under Composition scheme has been notified |
| Notification No. 40/2018 – Central Tax | |
| Extension for filing of ITC-04 | Due date for Quarterly filing of ITC-04 has been extended to September 30th, 2018 for period July 2017 to June 2018 (Earlier due date was 25th day of the month succeeding the said quarter) |
| Notification No. 41/2018 – Central Tax | |
| Waiver of Late Fees | GSTR-3B for the month of October 2017 – in case return submitted but not filed upon generation of ARN GSTR-4 filed within due date for period October to December 2017 but erroneously levied late fees GSTR-6 filed for any tax period between January 1st 2018 – January 23rd 2018 |
| Notification No. 42/2018 – Central Tax | |
| Extension for filing of ITC-01 (ITC Eligibility upon withdrawal from composition scheme) | Form ITC-01 to be filed within 30 days from date of Notification No. 42/2018 In a case where Registered person who has filed Form GST-CMP-04 between March 2nd 2018 to March 31st 2018 |
B. Gist of Notifications dated 10th September, 2018 issued under Central Goods & Services Tax (CGST) Act, 2017
CBIC issued Notification No. Notification No. 43/2018 – Central Tax to Notification No. 48/2018 – Central Tax and notified Extension of Due Dates for filing of FORM GSTR-1 and FORM GSTR-3B in certain cases and also notified that Commissioner is empowered to extend due date of TRAN-01 and TRAN-02 upto a specified period.
| Extension of GSTR-01 / GSTR-3B (in specified cases) |TRAN-01 Date may be extended to 31st March 2019 | ||||
| Class of Taxpayer | Period | Return Type | Extension of Date | |
| Notification No. 43/2018 – Central Tax | ||||
| Taxpayers having aggregate turnover up to Rs 1.5 crores |
Regular Registered Person other than specified below | For each quarter during July 2017 to September 2018 |
GSTR-01 | Due date for furnishing has been extended till 31st October, 2018 |
| Registered in state of kerala Registered person having principle place of business in district Kodagu (Karnataka) & Mahe (U.T. Puducherry) |
July – September 2018 | GSTR-01 | Due date for furnishing has been extended till 15th November, 2018 | |
| Persons obtained GSTIN under special scheme for migration as per Notification number -31/2018 -Central Tax | July 2017 – September 2018 | GSTR-01 | Due date is 31st December 2018 | |
| Notification No. 44/2018 – Central Tax | ||||
| Taxpayers having having aggregate turnover more than Rs 1.5 crores | Regular Registered Person other than specified below | July 2017 – September 2018 | GSTR-01 | Due date for furnishing has been extended till 31st October, 2018 |
| Persons obtained GSTIN under special scheme for migration as per Notification number -31/2018 -Central Tax | July 2017 – November 2018 | GSTR-01 | Due date is 31st December 2018 | |
| Notification No. 45/2018 , Notification No. 46/2018 & Notification No. 47/2018– Central Tax | ||||
| Persons obtained GSTIN under special scheme for migration as per Notification number -31/2018 -Central Tax | July 2017 – November 2018 | GSTR-3B | Due date is 31st December 2018 | |
| Notification No. 48/2018 – Central Tax | ||||
| Applicable in case of Migrated Persons | TRAN-01 | Commissioner empowered to extend due date till 31st March, 2019 | ||
| TRAN-02 | Commissioner empowered to extend due date till 30th April 2019 | |||
| Key provisions to catch | ||||
| Section 16 (4) of CGST Act, 2017
Input Tax Credit is not available in respect of any invoice after the due date of furnishing of return for the month of September following the end of financial year to which such pertains or Furnishing of Annual return Furnishing of return has to be planned in light of this provision |
||||
The entire contents of this document have been prepared on the basis of short reading of notifications, relevant provisions and as per the information existing at the time of the preparation. I assume no responsibility therefore. In no event, I shall be liable for any direct, indirect, special or incidental damage resulting from, arising out of or in connection with the use of the information.
Table of Recent Notifications
Author Bio
