The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications under GST Laws to implement the recommendation of the 39th GST Council held on 14th March, 2020.

The summary of notifications have been given below for easy understanding:

Sl. No Notification No Date Summary of Notification
1. 09/2020-Central Tax 16-03-2020 Exempt foreign airlines from furnishing reconciliation Statement in FORM GSTR-9C.

The Foreign Airline should submit a statement of receipts and payments for the financial year in respect of its Indian Business operations, duly authenticated by a practicing Chartered Accountant for each GSTIN by the 30th September of the year succeeding the financial year.

2. 11/2020-Central Tax

Circular No 134/04/2020

21-03-2020

23-03-2020

Special procedure for corporate debtors undergoing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 has been provided in the Notification.

Circular is issued to clarify issues in respect of issues under GST law for companies under Insolvency and Bankruptcy Code, 2016. It includes

1. Corporate debtor obtaining separate GST Registration;

2. Availing ITC and furnishing Returns

3. IRP/RP to be person responsible for the compliance of GST Laws

3. 12/2020-Central Tax 21-03-2020 Waiver off requirement for furnishing FORM GSTR-1 for FY 2019-20 for taxpayers who could not opt for availing the option of special composition scheme under notification No. 2/2019-Central Tax (Rate)

Such taxpayer must have furnished returns in Form GSTR 3B instead of furnishing details of payment of self-assessed tax in Form GST CMP-08. They are not required to furnish either Form GSTR 1 or Form GST CMP-08 for the FY 2019-20

4 13/2020-Central Tax 21-03-2020 Exemption granted to certain class of registered persons capturing dynamic QR code

Date for implementation of QR Code to be extended to 1st October, 2020

5 14/2020-Central Tax 21-03-2020 Exemption granted to certain class of registered persons capturing dynamic QR code

Date for implementation of QR Code to be extended to 1st October, 2020

6 14/2020-Central Tax 23-03-2020 Extension of time limit for furnishing of the annual return specified under section 44 of CGST Act, 2017 for the financial year 2018-2019 till 30th June, 2020 (earlier the due date was 31st March, 2020).
7. 16/2020-Central Tax 23-03-2020 Third amendment (2020) to CGST Rules. Important amendments being –

Rule 2(4A) –  authentication of Aadhaar number for grant of registration w.e.f. 01-04-2020

Rule 25 – Physical verification of business premises in certain cases

Rule 43 – Amendment of apportionment of ITC related to Capital goods w.e.f. 01-04-2020

Rule 80 – Every Registered Person whose aggregate turnover exceeds Rs 5 Crores shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C for the financial year 2018-2019. (Threshold for submission of Annual Return in Form GSTR 9 is Rs 2 Crores)

Rule 89 (4) (C) – Turnover of zero-rated supply of goods” means the value of zero-rated supply of goods made during the relevant period without payment of tax under bond or letter of undertaking or the value which is 1.5 times the value of like goods domestically supplied by the same or, similarly placed, supplier, as declared by the supplier, whichever is less, other than the turnover of supplies in respect of which refund is claimed under sub-rules (4A) or (4B) or both; (no such rule for exports with payment of tax)

Rule 96B – Recovery of refund of unutilized input tax credit or integrated tax paid on export of goods where export proceeds not realized under the Foreign Exchange Management Act, 1999 (42 of 1999), including any extension of such period, the person to whom the refund has been made shall deposit the amount so refunded, to the extent of non-realization of sale proceeds, along with applicable interest within thirty days of the expiry of the said period or, as the case may be, the extended period.

Further where sale proceeds, or any part thereof, in respect of such export goods are not realized by the applicant within the period allowed under the FEMA, 1999, but the RBI writes off the requirement of realization of sale proceeds on merits, the refund paid to the applicant shall not be recovered

Where the sale proceeds are realized by the applicant, in full or part, after the amount of refund has been recovered from him and the applicant produces evidence about such realization within a period of three months from the date of realization of sale proceeds, the amount so recovered shall be refunded, to the extent of realization of sale proceeds, provided the sale proceeds have been realized within such extended period as permitted by the Reserve Bank of India

The aforesaid declaration has been inserted in Form GST RFD-01 for claim of refund.

8 27/2020 – Central Tax 23-03-2020 Prescribes due date for furnishing FORM GSTR-1 for the below quarters (having aggregate turnover of up to Rs 1.5 crore in the preceding or current  financial year) –

For the Quarter April, 2020 to June, 2020  – Due date shall be 31st July, 2020

For the Quarter July, 2020 to September, 2020 – Due date shall be 31st October, 2020

Sl. No Notification No Date Summary of Notification
9. 28/2020 – Central Tax 23-03-2020 Prescribes due date for furnishing FORM GSTR-1 for the below months (having aggregate turnover more than Rs 1.5 crore in the preceding or current  financial year) –

For the months April, 2020 to September, 2020  – Eleventh (11th) day of the month succeeding such month

10 29/2020 – Central Tax 23-03-2020 Prescribe due date for return in FORM GSTR-3B of CGST Rules, 2017 along with due dates of payment of taxes for discharge of tax liability for April, 2020 to September, 2020 –

Turnover more than 5cr – 20th day of the month succeeding such month

Turnover up to 5cr- staggered manner 22nd and 24th day of the month succeeding such month.

Changes in GST Rates
Sl. No. Recommendation Notf No & Date Rate of GST Effective date
1 Mobile phone and specified parts (currently taxed at 12%) 03/2020 dated 25th March 2020 18% 1st April 2020
2 All type of Matches (handmade and other matches) – Current rate for handmade is 5% and other matches is 18% 03/2020 dated 25th March 2020 12% 1st April 2020
3 ü Rate for Maintenance, Repair and Overhaul (MRO) services for aircraft

ü to change place of supply for B2B MRO services to the location of recipient.

ü Domestic MRO will also get protection due to 5% tax paid under section 3(7) of the Customs Tariff Act, 1975 on most imported goods (sent abroad for repairs) as this tax is not available as credit.

02/2020 dated 26th March 2020 5% with full ITC

(Current rate 18%)

1st April 2020

 Note – Similar Notifications has been issued under IGST Act, 2017 to give effect to the aforesaid rate changes.

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