Notification No. 49/2020 – Central Tax Dated 24th June 2020

Many provisions of the CGST Act has been amended in the Finance Act, 2020 and some of the same have been notified and the effective date is 30th Jun 2020.

Extract of Sections 118, 125, 129 & 130 of Finance Act, 2020

118. Amendment of section 2.

In section 2 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the Central Goods and Services Tax Act), in clause (114), for sub-clauses (c) and (d), the following sub-clauses shall be substituted, namely:—

“(c) Dadra and Nagar Haveli and Daman and Diu;

(d) Ladakh;”.

125. Amendment of section 109.

In section 109 of the Central Goods and Services Tax Act, in sub-section (6),—

(a) the words “except for the State of Jammu and Kashmir” shall be omitted;

(b) the first proviso shall be omitted.

129. Amendment of section 168.

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.

130. Amendment of section 172.

In section 172 of the Central Goods and Services Tax Act, in sub-section (1), in the proviso, for the words “three years”, the words “five years” shall be substituted.

Notification No. 50/2020 – Central Tax Dated 24th June 2020

Rules 7 of the CGST Rules 2017 has been amended with a new entry for Composition tax payers who are providing services will be taxed at rate of 6% (CGST – 3% & SGST/UTGST – 3%).

Notification No. 51/2020 – Central Tax Dated 24th June 2020

As per the decisions taken in the 40th GST Council Meeting, the due dates & rate of interest for filing of GSTR – 3B has been notified.

Sr. No Category of Tax Payers Rate of Interest Tax Period
1 Tax Payers having turnover above Rs 5 Crores during the previous financial year 0% if filed within 15 days of the due date and 9% after that if filed before 24th June 2020 Feb – 2020

Mar – 2020

Apr – 2020

 

Sr. No Category of Tax Payers Tax Period Rate of Interest
0% filed before 9% filed before 30th Sep 2020
1 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 Feb – 2020 30th June 2020 30th Sep 2020
Mar – 2020 3rd July 2020 30th Sep 2020
Apr – 2020 6th July 2020 30th Sep 2020
May – 2020

 

12th Sep 2020 30th Sep 2020
June – 2020 23rd Sep 2020 30th Sep 2020
July – 2020 27th Sep 2020 30th Sep 2020
2 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 Feb – 2020 30th June 2020 30th Sep 2020
Mar – 2020 5th July 2020 30th Sep 2020
Apr – 2020 9th July 2020 30th Sep 2020
May – 2020

 

15th Sep 2020 30th Sep 2020
June – 2020 25th Sep 2020 30th Sep 2020
July – 2020 29th Sep 2020 30th Sep 2020

Notification No. 52/2020 – Central Tax Dated 24th June 2020

Due date for filing of GSTR – 3B has been notified based on the decisions taken in the 40th GST Council and reduction of late fee has been notified

Sr. No Category of Tax Payers Tax Period Due Date
1 Tax Payers having turnover above Rs 5 Crores during the previous financial year Feb – 2020

Mar – 2020

Apr – 2020

24th June 2020
2 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 Feb – 2020 30th June 2020
Mar – 2020 3rd July 2020
Apr – 2020 6th July 2020
May – 2020

 

12th Sep 2020
June – 2020 23rd Sep 2020
July – 2020 27th Sep 2020
3 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 Feb – 2020 30th June 2020
Mar – 2020  5th July 2020
Apr – 2020 9th July 2020
May – 2020 15th July 2020
June – 2020 25th Sep 2020
July – 2020 29th Sep 2020

Late fee has been reduced or waived off for the taxpayers who have not filed GSTR – 3B for the period July 2017 to January 2020 between 1st July 2017 and 30th Sep 2020

Sr. No Category of Tax Payers Penalty
1 With Liability Rs 250/- per return
2 Nil Returns Nil

Notification No. 53/2020 – Central Tax Dated 24th June 2020

The due dates for filing of GSTR – 1 has been notified from Jan 2020 to June 2020 for both monthly filing and quarterly filers. Late fee has also been waived off if the returns are filed within the due dates.

Sr. No Tax Period Due date
1 March 2020 10th July 2020
2 April 2020 24th July 2020
3 May 2020 28th July 2020
4 June 2020 5th Aug 2020

Sr. No Tax Period Due date
1 Jan to Mar 2020 17th July 2020
2 April to June 2020 3rd Aug 2020

Notification No. 54/2020 – Central Tax Dated 24th June 2020

The due dates for filing of GSTR – 3B for the taxpayers whose turnover is less than Rs 5 crores in the previous financial year are

Sr. No Category of Tax Payers Due Date
1 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 1st Oct 2020
2 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 3rd Oct 2020

Instruction No 3/2/2020 – GST Dated 24th June 2020

GST Rates for real estates have been reduced and input tax credit is not allowed in some cases. As the rates have been reduced for the real estate sector, input tax credit is not allowed. Another condition laid is that at least 80% of the inputs and input services expect services by way of grant of development rights, long term lease of land or FSI, electricity, high speed diesel, motor spirit, natural gas, will procured by the developer or the builder from registered taxpayers. In case if the same are procured from unregistered taxpayers, the builder or developer is required to pay the tax at end of the financial year. As per the Instructions, the tax payment has to be done by the developer or builder using the Form DRC  03.

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