This video is the August 20 edition of Monthly GST bulletin which is a GST Video Magazine providing with all the GST updates, information and monthly GST News that took place during the previous month of July 2020 along with the GST compliance calendar for the month of August 20.
This Bulletin has Five Segments and to navigate easily, the time slots that is the reference points in this video are mentioned for the help.
GST Notifications issued in July 20 at 0:48 mins
GST News July 20 at 4:04 mins
GST Calendar Due dates of August 20 at 7:43 mins
GST News from Social Media at 8:45 mins
GST Collections Data Update at 11:07 mins
Further all the GST Notifications issued in July 20 are explained in this video
Notification No. 61/2020-CT Changes Regd E-Invoicing at 1:03 mins
Notification No. 60/2020-CT New E-Invoice fomat/ Schema at 1:44 mins
Notification No. 59/2020-CT GSTR-4 FY 19-20 Date Extended at 2:14 mins
Notification No. 58/2020-CT NIL GSTR-1 by SMS facility at 2:42 mins
N No. 61/2020 CT dated 30-07-20
Through this notification certain changes have been made regarding e invoicing
First, the turnover threshold limit for issuing e invoice has been increased from Rs. 100 crores to Rs. 500 crores. Only those with above Rs. 500 crore turnover are required to issue e invoice from 1st Oct 20
E- invoicing shall not apply to SEZ units which means SEZ units are exempt from issue e invoice as of now
N No. 60/2020 CT dated 30-07-20
Through this notification Central government has introduced new format or scheme for e-invoice. The existing FORM GST INV-01 is replaced by a new FORM GST INV-1
N No. 59/2020 CT dated 13.07.2020
The date of filing GSTR 4 for FY 19-20 has been extended from 15-07-20 to 31-08-20. GSTR 4 is the annual return to be filed by taxpayer opting composition scheme
N No. 58/2020 CT dated 01.07.20 amends the Rule 67A of CGST Rules 2017
Where by Return filing through SMS facility has been introduced for NIL GSTR 1 returns also along with earlier introduced NIL GSTR 3B returns
It is to be noted that a return shall have nil or no entry in all the tables to be considered as NIL Return
For filing NIL GSTR 1 SMS is to be sent to Number 14409.
