1. GST DEADLINES
1.1. Deadlines- 30th Sep 2020
-GST Audit and Annual return (GSTR-9 and GSTR-9C) due date 30th Sep 2020 for FY 18-19. For regular taxpayers whose Aggregate Turnover during the financial year is more than Rs 5 Crore.
-GST Annual Return (GSTR-9) optional for taxpayers with Aggregate Turnover less than Rs 2 crore. However GST Annual Return (GSTR-9) required to be mandatorily filled by Tax payers whose aggregate turnover is between Rs 2 – 5 Crore, though they are not required to get their accounts audited.
|GST Audit & Annual Return||More than 5 Cr.||GSTR 9/ 9C||FY 18-19||Compulsory|
|GST Annual Return||Between 2 Cr. To 5 Cr.||GSTR 9||FY 18-19||Compulsory|
|GST Annual Return||Less than 2 Cr.||GSTR 9||FY 18-19||Optional|
1.2. Deadlines- 31st Aug 2020
|GSTR 4||Composition Annual Return||FY 19-20||31/08/2020|
|ITC 04||Details of goods sent on Job Work||Q4 19-20; Q1 20-21||31/08/2020|
|LUT||Letter of Undertaking||FY 20-21||31/08/2020|
|GST 6||Input Service Distributor||March 20 – July 20||31/08/2020|
2. GST PORTAL UPDATES
2.1. Download Facility of Table 8A of Form GSTR9
GST portal has provided to the taxpayers facility to download document wise details of Table 8A of Form GSTR-9 in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This feature will help the taxpayer to reconcile the values appearing in Table 8A of Form GSTR 9 with GSTR 2A, thus facilitate filling the Form GSTR 9.
2.2. Facility to apply for Revocation of Cancellation of Registration
In view of the Removal of Difficulty Order No. 01/2020 dated 25.06.2020, the restriction on filing revocation application, in case it was rejected, has been removed. Aggrieved taxpayers can file application for revocation of cancellation of registration once again.
Further, those taxpayer who have filed Appeal against rejection of the Revocation Application and the decision is still pending, they may also file the Revocation of Cancellation.
Taxpayer is required to login and navigate to Services> Registration> Application for Revocation to file the application for revocation.
2.3. Refund Application for July 2017 restored
Facility of filling Refund Application for July 2017 has been restored on GST Portal.
3.1. Aadhar Authentication in GST Registration
4. LEGAL UPDATES
4.1. Refund of unutilized ITC even in respect of “input services”
5. GST COUNCIL MEETINGS
The GST Council is set to meet on August 27 to discuss compensation cess and then on September 19.
Author can be reached at [email protected]