Stay updated with the latest GST Portal features, compliance deadlines for April 2023, and a new GST Amnesty Scheme. Ensure timely filings, understand GST year-end tasks, and be aware of important notifications, judicial pronouncements, and press releases to navigate the complex world of GST effortlessly.
1. GST PORTAL UPDATES
1.1. GSTIN to GSTIN Cash Ledger Balance Transfer by GST PMT-09
(Advisory Dated: 07/03/2023)
The GST Portal has been updated with a new functionality to enable taxpayers to transfer the available cash ledger balance from one GSTIN to another GSTIN on the same PAN BY Form GST PMT-09.
2. GST DEADLINES
2.1. Deadlines | Apr 23
GST Compliance Calendar – Apr 2023
| Due Date | Return/ Compliance | Remarks |
| 31 Mar 23 | CMP 02 | Opting In for Composition Scheme |
| 31 Mar 23 | GST RFD-11 (LUT) | Suppliers engaged in making zero-rated supply are required to apply for renewal of Letter of Undertaking (LUT) for FY 2022-23 |
| 1 April 23 | IEC Code | The FTP mandates updating details of the IEC every year on the DGFT portal from April to June of the relevant FY. |
| 11 April 23 | GSTR1 (Mar 23) | Return of Outward Supplies- Monthly Return |
| 13 April 23 | GSTR1 (Jan- Mar 23) | Return of Outward Supplies- QRMP |
| 14 April 23 | GSTR2B (Mar 23) | Auto Drafted ITC Statement available for download |
| 18 April 23 | CMP 08 (Jan- Mar 23) | Composition Return for the quarter ending March 23 |
| 20 April 23 | GSTR3B (Mar 23) | Last Date for Payment of Tax and Return for Normal
Taxpayers (Monthly GTSR3B) |
| 22 April 23 | GSTR3B (Jan- Mar 23) | Last Date for Payment of Tax and Return QRMP
Taxpayers with Turnover Less Than 5 Crore having Principal Place of Business in Chhattisgarh, MP, Gujarat, Daman & Diu, Dadra & Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman & Nicobar Islands, Telangana, Andhra Pradesh. |
| 24 April 23 | GSTR3B(Jan- Mar 23) | Last Date for Payment of Tax and return for QRMP
Taxpayers with Turnover Less Than 5 Crore having Principal Place of Business in J&K, Laddakh, HP, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, UP, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, WB, Jharkhand and Odhisha |
| 25 April 23 | ITC 04 (Oct- Mar 23) | Details of Job Work Challan (Half Yearly); AT more than 5 Cr |
| 25 April 23 | ITC 04 (Apr-Mar 23) | Details of Job Work Challan (Half Yearly); AT less than 5 Cr |
| 30 April 23 | TDS Payment (IT) | Payment of TDS for the month of March 23 (Income Tax Act) |
| 30 April 23 | QRMP | The deadline to opt-in or opt-out of the QRMP scheme. |
3. GST YEAR END TASKS
3.2 Input Tax Credit Reconciliations to be prepared
√ GSTR 2B Reconciliation (GSTR 3B Vs GSTR 2B)
Any mismatches in GSTR2B should be informed to the supplier in March 2023.
Identify any missing credits to be availed. Or reversal of credit wrongly availed.
√ Rule 42/43 yearly reversal for FY 22-23
Impact of annualized ITC reversal in case of exempted as well as taxable supplies to be considered.
√ GSTR3B ITC Reconciliation with Books of Accounts
√ Rule 37A reversal of input tax credit in case of non-payment of tax by the supplier
√ Checking for import of goods – Bill of Entry (BOE) Vs. ICEGATE Vs. GSTR 2B to ensure no missed-out items.
3.3 Outward Supplies Reconciliation to be Prepared
√ GSTR1 vs GSTR3B Reconciliation
Any Mismatches in return should be corrected in March 2023 return.
√ GSTR3B vs Books of Accounts
√ E Way bill and GSTR1 Reconciliation
√ GST on Advances
Ensure tax liability against receipt of advances on services and adjustment thereof to derive at unadjusted advances at year end.
In case of continuous supply of services, ensure whether invoice is raised on milestone.
√ Issuance of GST Debit note/ Credit note –
Assess the need to issue any DN/ CN for any value short/excess charged.
Whether CN has been issued for sales return by the customers?
3.4 Matching of Electronic Cash Ledger and Electronic Credit ledger with books of accounts
4. NOTIFICATION
4.1 Amnesty Scheme to GSTR 9 Late Fees
(Notification No.-02/2023-Central Tax; dated 31 March 2023)
The Scheme for wavier of GSTR 9 late fees is as follows:-
| S.NO | YEAR | TURN-OVER | PRESENT | REDUCED LATE FEES | COND-ITION | ||
| Late fees | Limit | Late fees | Limit | ||||
| 1. | 2017-18
2018-19 2019-20 2020-21 2021-22 |
Any | Rs. 200/day | 0.5% of turnover | Rs.200/day | 20,000/- | File GSTR 9 between 01st April 2023 to 30th June 2023 |
| 2. | 2022-23 and coming years | Upto 5 Crs | Rs. 50/ day | 0.04% of turnover | No Conditions | ||
| >5 Cr to 20 Crs | Rs. 100/day | 0.04% of turnover | |||||
| >20 Crs | Rs. 200/day | 0.5% of turnover | |||||
4.2 Other late fee waivers
(Notification No.-02/2023-Central Tax; dated 31 March 2023)
The Scheme for wavier of GSTR 4 and GSTR 10 late fees is as follows:-
|
S.NO |
Form | YEAR | PRESENT | WAVIER | Condition | ||
| Late fees | Limit | Late fees | Limit | ||||
| 1. | GSTR 4 | 2017-18
2018-19 2019-20 2020-21 2021-22 |
Rs. 50/day | RS. 2,000/- | Rs. 50/day | Rs. 500 | File returns between 1st April 2023 to 30th June 2023 |
| GSTR 4 NIL | Rs. 500/- | 0 | 0 | ||||
| 2. | GSTR 10 | 2021-22 | Rs 200/day | Rs. 10,000/- | Rs. 200/day | Rs. 1000 | |
4.3 Extension of Time Limit u/s 73
(Notification No.- 09/2023-Central Tax; Dated:- 31st March, 2023)
The time limit for passing orders under section 73 of the CGST Act, 2017 has been extended for the following financial years :-
| S.No. | Year | Present Deadline | Extended Deadline |
| 1 | 2017-18 | 30th September 2023 | 31st December 2023 |
| 2 | 2018-19 | 30th December 2023 | 31st March 2024 |
| 3 | 2019-20 | 30th March 2023 | 30th June 2024 |
4.4 New Amnesty Scheme for deemed withdrawal of BJA Order
(Notification No-06/2023-Central Tax; dated 31 March, 2023)
Best judgement assessment order u/s 62 shall be deemed to be withdrawn, if such registered persons files returns as specified below, namely,-
(i) the registered persons shall furnish the said return on or before the 30th day of June 2023;
(ii) the return shall be accompanied by payment of interest due under section 50 and the late fee payable under section 47,
irrespective of whether or not an appeal had been filed against such assessment order under section 107 of the said Act or whether or not the appeal, if any, filed against the said assessment order has been decided.
5. JUDICIAL PRONOUNCEMENTS
5.1. Supreme Court to decide Restriction of ITC on Immovable Property
(JOHNSON MATTHEY INDIA PVT LTD. vs UNION OF INDIA & ORS; Dated: 03/02/2023)
In Chief Commissioner of CGST vs M/s Safari Retreats Pvt Ltd, likely to be listed on March 22, 2023, the Supreme Court is set to decide the constitutional validity of Goods and Services Tax (GST) Input Tax Credit (ITC) restrictions on immovable property. Section 17(5)(c) and (d) imposes a restriction on claims of ITC on immovable property.
5.2 Rajasthan GST Dept. Issues Guidelines for Refund of Late Fee
In accordance with Order No. F.17 (137) ACCT/GST/2017/8289 dated March 10, 2023, the Commercial Taxes Department of the Government of Rajasthan has issued guidelines for the repayment of late fees paid and deposited in compliance with Section 47.
5.3 Order in original rejecting refund application on grounds which were never part of original show cause notice
(C J DARCL Logistics Ltd. Vs Union of India)
Order in original rejecting refund application on grounds which were never part of original show cause notice and petitioner’s reply to show cause notice was not considered at all; further neither proper show cause notice was issued nor any opportunity of hearing was given to petitioner, therefore, principles of natural justice were violated; show cause notice and order in original were to be quashed.
6. Press Releases
6.1 GST Dept to Inspect ITRs and MCA filings of Professionals and Businessmen to find Tax Evaders
To determine if the firms are appropriately discharging their Goods and Service Tax (GST) obligation and expanding the taxable base, the GST department will likely begin to analyse Income Tax Returns (ITRs) submitted by businesses and professionals as well as MCA filings.
6.2 No Curb to Register GST on Residential Address for professionals operating from Residential Premises
(Minister of State for Finance-Pankaj Chaudhary)
In a statement to the Rajya Sabha dated March 14, 2023, Minister of State for Finance Pankaj Chaudhary made it clear that professionals are not restricted from obtaining Goods and Services Tax (GST) Registration if they operate from residential premises.
6.3 The Finance Act, 2023 received the assent of the President
The Finance Bill, 2023 received the assent of the President on 31st March, 2023. This act shall enforce various amendment made to the Income Tax Act with effect from 1st April, 2023.
Disclaimer: “This material is intended to provide general information on particular subject(s) and is not an exhaustive treatment of such subject(s) or a substitute to obtaining professional service or advice. It is strongly recommended to seek professional advice before implementation of any of the aspects covered in the presentation.”)
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