CA Viral K. Chheda

CBIC issued 10 Notification/Instructions on 24.06.2020 to give effect to amendments made by Finance Act, 2020, to substitute table annexed to Rule 7 related to GST Composition Dealers specifying GST Composition Scheme Tax Rates, to Notify Amendments related to interest to be payable as per section 50 of the CGST Act for Feb. 2020 to July 2020, to Notify Waiver of Late fees for GSTR 3B returns by substituting the table in 3rd proviso of N. No. 76/2018 CT Dated 31/12/2018, for tax period Feb., 2020 to July, 2020 & also for July 2017 to January 2020 and to notify Waiver of Late Fees for GSTR 1 filing for tax period March 2020 to June 2020 and for Q4 of FY 19-20 & Q1 of FY 20-21.

Summary of GST updates as published in Gazette of India on 24/06/2020

SECTION AMENDED EFFECT OF AMENDMENT SOURCE OF AMENDMENT

A) Notification passed to give effect to amendments made by Finance Act, 2020.

i) Section 118 of FA 2020 > Dadra & Nagar Haveli AND Daman & Diu is clubbed in Sub Clause (c) of Clause 114 of Section 2 of CGST Act

> Ladakh is substituted in Sub Clause (d) of Clause 114 of Section 2 of CGST Act

NOTIFICATION NO. 49/2020 CT DATED 24/06/2020 WEF 30/06/2020
ii) Section 125 of FA 2020 > S. 109 OF CGST ACT 2017 deals with constitution of Appellate Tribunal

> The word except state of J & K and the first proviso appearing in sub section 6 of S. 109 shall be omitted

NOTIFICATION NO. 49/2020 CT DATED 24/06/2020 WEF 30/06/2020
iii) Section 129 of FA 2020 > S. 168 of the CGST Act, 2017 deals with power to issue instructions or directions by competent authorities

> In section 168 of the Central Goods and Services Tax Act, in sub-section (2), for the words, brackets and figures “sub-section (5) of section 66, sub-section (1) of section 143”, the words, brackets and figures “sub-section (1) of section 143, except the second proviso thereof” shall be substituted.

NOTIFICATION NO. 49/2020 CT DATED 24/06/2020 WEF 30/06/2020
iv) Section 130 of FA 2020 > S. 172 of CGST Act deals with the removal of difficulties order to be passed by the Government.

> Time limit specified for said order of 3 years is substituted with 5 years

NOTIFICATION NO. 49/2020 CT DATED 24/06/2020 WEF 30/06/2020
v) Section 134 of FA 2020 > S. 25 of IGST Act deals with the removal of difficulties order to be passed by the Government.

> Time limit specified for said order of 3 years is substituted with 5 years

NOTIFICATION NO. 04/2020 INTEGRATED TAX DATED 24/06/2020 WEF 30/06/2020

 

B) Notification for Composition Dealers substituting table annexed to Rule 7 as under:

i) Manufacturers, other than manufacturers of such goods [Ice Cream, Tobacco, Pan Masala] as may be notified by the Government [10(1) & (2)] > Half per cent. of the turnover in the State or Union territory > NOTIFICATION NO. 50/2020 CT DATED 24/06/2020

> Vide CGST (7th Amendment) Rules, 2020

> WEF 01/04/2020

ii) Suppliers making supplies referred to in clause (b) of paragraph 6 of Schedule II [Restaurant] > Two and a half per cent. of the turnover in the State or Union territory > NOTIFICATION NO. 50/2020 CT DATED 24/06/2020

> Vide CGST (7th Amendment) Rules, 2020

> WEF 01/04/2020

iii) Any other supplier eligible for composition levy under subsections (1) and (2) of section 10 > Half per cent. of the turnover of taxable supplies of goods and services in the State or Union territory > NOTIFICATION NO. 50/2020 CT DATED 24/06/2020

> Vide CGST (7th Amendment) Rules, 2020

> WEF 01/04/2020

iv) Registered persons not eligible under the composition levy under sub-sections (1) and (2), but eligible to opt to pay tax under sub-section (2A), of section 10 [Small Service Providers] > Three per cent. of the turnover of taxable supplies of goods and services in the State or Union territory > NOTIFICATION NO. 50/2020 CT DATED 24/06/2020

> Vide CGST (7th Amendment) Rules, 2020

> WEF 01/04/2020

C) Amendments related to interest to be payable as per section 50 of the CGST Act for Feb. 2020 to July 2020.

i) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year > Nil for first 15 days from due date

> 9% thereafter till 24/06/2020 for tax period Feb., 2020 to April 2020

> NOTIFICATION NO. 51/2020 CT DATED 24/06/2020

> NOTIFICATION NO. 05/2020 INTEGRATED TAX DATED 24/06/2020

ii) Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep > For Feb 2020: Nil till 30/06/2020, thereafter 9% till 30/09/2020

> For March 2020: Nil till 03/07/2020, thereafter 9% till 30/09/2020

> For April 2020: Nil till 06/07/2020, thereafter 9% till 30/09/2020

> For May 2020: Nil till 12/09/2020, thereafter 9% till 30/09/2020

> For June 2020: Nil till 23/09/2020, thereafter 9% till 30/09/2020

> For July 2020: Nil till 27/09/2020, thereafter 9% till 30/09/2020

> NOTIFICATION NO. 51/2020 CT DATED 24/06/2020

> NOTIFICATION NO. 05/2020 INTEGRATED TAX DATED 24/06/2020

 

 

iii) Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi > For Feb 2020: Nil till 30/06/2020, thereafter 9% till 30/09/2020

> For March 2020: Nil till 05/07/2020, thereafter 9% till 30/09/2020

> For April 2020: Nil till 09/07/2020, thereafter 9% till 30/09/2020

> For May 2020: Nil till 15/09/2020, thereafter 9% till 30/09/2020

> For June 2020: Nil till 25/09/2020, thereafter 9% till 30/09/2020

> For July 2020: Nil till 29/09/2020, thereafter 9% till 30/09/2020

> NOTIFICATION NO. 51/2020 CT DATED 24/06/2020

> NOTIFICATION NO. 05/2020 INTEGRATED TAX DATED 24/06/2020

D) Waiver of Late fees for GSTR 3B returns by substituting the table in 3rd proviso of N. No. 76/2018 CT Dated 31/12/2018, for tax period Feb., 2020 to July, 2020 & also for July 2017 to January 2020

i) Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year > Nil for tax period Feb., 2020, March, 2020 & April, 2020

> GSTR 3B to be filed on or before 24/06/2020

> NOTIFICATION NO. 52/2020 CT DATED 24/06/2020
ii) Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep > For Feb 2020: Nil if GSTR 3B filed by 30/06/2020

> For March 2020: Nil if GSTR 3B filed by 03/07/2020

> For April 2020: Nil if GSTR 3B filed by 06/07/2020

> For May 2020: Nil if GSTR 3B filed by 12/09/2020

> For June 2020: Nil if GSTR 3B filed by 23/09/2020

> For July 2020: Nil if GSTR 3B filed by 27/09/2020

> NOTIFICATION NO. 52/2020 CT DATED 24/06/2020

 

iii) Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi > For Feb 2020: Nil if GSTR 3B filed by 30/06/2020

> For March 2020: Nil if GSTR 3B filed by 05/07/2020

> For April 2020: Nil if GSTR 3B filed by 09/07/2020

> For May 2020: Nil if GSTR 3B is filed by 15/09/2020

> For June 2020: Nil if GSTR 3B filed by 25/09/2020

> For July 2020: Nil if GSTR 3B filed by 29/09/2020

> NOTIFICATION NO. 52/2020 CT DATED 24/06/2020

 

iv) Waiver of lates fees for non filing of GSTR 3B for tax period from July 2017 to January 2020, by adding proviso to N No. 76/2018 CT DTD. 31/12/2018. > If central tax payable is Nil than total amount of late fees will be waived

> If central tax payable than late fees in excess of Rs. 250/- will be waived

> GSTR 3B to be furnished from 01/07/2020 to 30/09/2020

> NOTIFICATION NO. 52/2020 CT DATED 24/06/2020

E) Waiver of Late Fees for GSTR 1 filing for tax period March 2020 to June 2020 and for Q4 of FY 19-20 & Q1 of FY 20-21.

i) March 2020 10/07/2020 > NOTIFICATION NO. 53/2020 CT DATED 24/06/2020
ii) April 2020 24/07/2020
iii) May 2020 28/07/2020
iv) June 2020 05/08/2020
v) Jan to Mar 2020 17/07/2020
vi) April to June 2020 03/08/2020
F) Due date GSTR 3B for Aug 2020
i) Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep > To be filed by 01/10/2020 > NOTIFICATION NO. 54/2020 CT DATED 24/06/2020
ii) Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi > To be filed by 03/10/2020 > NOTIFICATION NO. 54/2020 CT DATED 24/06/2020

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