Nov 20 GST Monthly Bulletin | GST Updates of Oct 20

GST Notifications issued in October 2020

GSTR9/9C Annual Return and Reconciliation Filing Date Extended

Central Government vide N No. 80/2020 (CT) dated 28.10.2020 has extended the filing date of GST Annual Return and GST Reconciliation in FORM GSTR 9 and GSTR 9C from 31-10-2020 to 31-12-2020.

CGST (12^th Amendment) Rules, 2020

Vide N No. 79/2020 (CT) dated 15.10.2020 following important amendments were made in CGST Rules.2017 by way of CGST (12^th Amendment) Rules, 2020:

CBIC has been provided the power to specify the digits of HSN Code that a class of registered would require to mention on their invoices. It can specify certain goods or services for which the specified digits of HSN Code on Invoice would be mandatory and it can also exempt certain categories or class of person from this requirement of HSN Code on Invoice. (First proviso to Rule 46)
Rule 67A of CGST Rules 2017 has been revised to allow the NIL filing of Form CMP-08 through SMS facility as has been allowed earlier in case GSTR 1 and GSTR 3B. A Nil Return or Nil statement for this purpose shall be the return or statement which has nil or no entry in all the tables of the FORM.
For Financial Year 2018-19 and 2019-20, GST Audit and GST Reconciliation Statement in Form GSTR 9C has been mandated for the registered person whose aggregate turnover in the financial year is more than Rs 5 crore.
E-way bill facility shall not be blocked as provided in Rule 138E for the period from 20^th Mar 20 to 15^th Oct 20 in case GSTR 1, GSTR 3B, or CMP-08 is not filed for the period Feb 20 to August 20.
New Form GSTR 2A has been notified vide this notification.

HSN Code becomes mandatory

Central Government vide N No. 78/2020 (CT) dated 15.10.20 has mandated the mentioning of the HSN Code on invoices for all B2B transactions from 01^st April 2020.

A registered person with turnover up to 5 crores shall mention four digits HSN Code on their invoices pertaining to B2B transactions. The exemption from the same has been granted for supplies made to unregistered persons i.e. B2C transactions.

A registered person with turnover more than 5 crores shall mention six digits HSN Codes on all their supplies whether registered or unregistered.

Annual Return GSTR 9 optional up to 2 crores turnover

Filing of GSTR 9 i.e. GST Annual Return for a registered person with aggregate turnover up to Rs. 2 crores in the financial year was made optional for FY 2017-18 and FY 2018-19 earlier vide N No. 47/2019 dated 09.10.2019.

This option has been extended for FY 2019-20 as well by CBIC vide N No. 77/2020 dated 15.10.2020.

GSTR 3B date notified for Oct 20 to Mar 21

Central Government vide N No. 76/2020 (CT) dated 15.10.20 has notified the GSTR 3B filing due dates for the month of Oct 20 to Mar 21.

For a Registered person having turnover more than 5 crores in the previous financial year, GSTR 3B due date shall be 20^th of the succeeding month.

For a Registered person having turnover up to Rs 5 crores in the previous financial year, GSTR 3B due date shall be as per the following

Group A State :

Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep

Group B State :

Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi

GST3B date for Group A State shall be 22^nd of the succeeding month (Turnover <=5 CR)

GST3B date for Group B State shall be 24^th of the succeeding month (Turnover <=5 CR)

Monthly GSTR 1 date notified for Oct 20 to Mar 21

Central Government vide N No. 75/2020 dated 15.10.2020 has notified the due dates for filing of return for outward supplies in Form GSTR 1 for Oct 20 to Mar 21 on monthly basis.

A registered person having an aggregate turnover of more than Rs. 1.5 crores in the current year or previous year are required to file their monthly GSTR 1 for Oct 20 to Mar 21 period by 11^th of the succeeding month.

Quarterly GSTR 1 date for small taxpayers notified for Oct 20 to Mar 21

Vide N No. 74/2020 (CT) dated 15.10.2020, Quarterly GSTR 1 Returns have also been notified up to 31^st March 2020.

In case of a registered person having aggregate turnover in the current year or previous year up to 1.5 crores, the due date of filing of their quarterly GSTR 1 shall be:

13^th Jan 21 for Qtr Oct 20 to Dec 20
13^th Apr 21 for Qtr Jan 21 to Mar 21

Relaxation in regard to E-invoice for invoices issued from 01^st Oct 20 to 31^st Oct 20

Central Government vide N No. 73/2020 (CT) dated 01.10.2020 provided relaxation to those registered persons who were to comply with Rule 48(4) by issuing E-invoice through the E-invoice portal from 01^st October 2020.

In regard to Invoices that were generated from 01^st Oct 20 to 31^st Oct 20, IRN (Invoice Reference Number) against them may be generated by uploading the invoice details on the E-invoice portal within 30 days from the date of invoice.

This relaxation is provided only for the invoices issued up to 31^st October 20. From 01^st Nov 20, Invoices shall be issued by generating IRN and uploading the information on the E-invoice portal on the same date.