GST

GST Compliance Calendar for December 2020

Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, has extended the various due date for Filing GST Returns without additional fee/penalty.

Filing of GSTR –3B

GSTR 3B Due Dates for May 2020

Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax period Due Date No interest payable till Interest payable @ 9% from & till Interest payable @ 18% from
November, 2020 20th December, 2020

Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

Tax period Due Date No interest payable till Interest payable @ 9% from & till Interest payable @ 18% from
November, 2020 22nd  December, 2020
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

Tax period Due Date No interest payable till Interest payable @ 9% from & till Interest payable @ 18% from
November, 2020 24th December, 2020
Group B States:  Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

 

Filing Form GSTR-1:

Tax period Due Date Remarks
October to December, 2020

Quarterly return

13.01.2021 Taxpayers having an aggregate turnover of Up to Rs. 1.50 Crores (< Rs 1.50 Cr) or opted to file Quarterly Return
Monthly return

(November, 2020)

11.12.2020 Taxpayers having an aggregate turnover of More than Rs. 1.50 Crores (> Rs 1.50 Cr) or opted to file Monthly Return

Compliances for Composition taxpayers

Form No. Compliance Particulars Due Date (New)

 

GST CMP-08 3rd Quarter – October to December,  2020 18.01.2021

Non-Resident Tax Payers, ISD, TDS & TCS Taxpayers

Form No. Compliance Particulars Timeline  Due Date
GSTR-5 & 5A Non-resident ODIAR services provider file Monthly GST Return 20th of succeeding month 20.12.2020
 

GSTR -6

Every Input Service Distributor (ISD)  

13th of succeeding month

 

13.12.2020

 

GSTR -7

Return for Tax Deducted at source to be filed by Tax Deductor  

10th of succeeding month

 

10.12.2020

 

GSTR -8

E-Commerce operator registered under GST liable to TCS 10th of succeeding month 10.12.2020

GST Annual Returns: 

Form No. Compliance Particulars Due Date (New)

 

GSTR-9A (2018-19) Annual return 31.12.2020
GSTR-9  (2018-19) Taxpayers having an aggregate turnover of more than Rs. 2 Crores or opted to file Annual Return. 31.12.2020
GSTR-9C (2018-19) Reconciliation Statement/ Audit Report for Taxpayers having a Turnover of more than Rs. 5 crores. 31.12.2020

 GST Refund:

Form No. Compliance Particulars Due Date (New)

 

RFD -10 Refund of Tax to Certain Persons 18 Months after the end of quarter for which refund is to be claimed

 Key UPDATE(s):

 

  • As per Rule 138E (a) & (b) of the CGST Rules, 2017, blocking of EWB generation will be started from 01.12.2020.
  • Government to prepare a list of ‘risky’ companies created to evade GST

The government will use artificial intelligence (AI) and Aadhaar registration to segregate dubious firms purposely created for Goods and Services Tax (GST) evasion and put them under the “risky” category to closely monitor their activities, two finance ministry officials said. (Click here)

  • GST Compliance tightened: Buyers from big firms to show valid e-invoices for tax credit

Aiming to collect almost the same sum as taxes as last year, the revenue department is tightening compliance requirements related to e-invoicing. The buyers are required to ensure proper e-invoices are issued to them by listed large GST-registered businesses; in the absence of such e-invoices, the buyers could lose input tax credit. (Click here)

  •  Firm busted for availing benefit from bogus invoices of around Rs 685 crore

On the basis of specific intelligence as well as further data mining/analysis on GSTN and E way bill portals, the officers of CGST Delhi South Commissionerate, have busted a syndicate of firms involved in availing invoices/E-way bills issued on the GSTIN of fake/dummy firms and getting Refund of IGST on the strength of such fake Invoices.

A case was booked against M/s. Baan Ganga Impex having their Principal Place of Business at L-10A, Ganga  Tower, Mahipalpur, New Delhi-110037 (GSTIN 07AAMFB0425A1Z4).

In total M/s Baan Ganga Impex has availed the invoices from the fake entities amounting to Rs. 685 crore (approx.) involving GST of Rs. 50 crore (approx.) and succeeded to get refund of Rs. 35 crores (approx). (To read more Click here)

  • Update on auto-population of e-invoice details into GSTR-1
  • Certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from such e-invoices are be auto-populated in respective tables of GSTR-1. An update on the status of such auto-population was earlier published on 13/11/2020.
  • Due to some unanticipated issues, there has been delay in auto-population of e-invoice details into GSTR-1.

Hence, such taxpayers who had reported e-invoices should not wait for auto-populated data and they are advised to proceed with preparation and filing of GSTR-1 for the months of November, 2020 (before the due date) and for October, 2020 (in case not yet filed, as on date).

  • The auto-population of e-invoice details pertaining to the period December, 2020 into GSTR-1 (in incremental manner on T+2 day basis) will start in the first week of December.
  • The details of e-invoices pertaining to periods of October and November, 2020, would be processed and made available in incremental manner from 13thDecember 2020 onwards. The processing and availability of complete data for the months of October and November, 2020 may take upto 2 weeks.
  • The detailed advisory with methodology of auto-population etc. is already made available on the GSTR-1 dashboard (‘e-invoice advisory’) and also e-mailed to relevant taxpayers.
  •  It may also be noted that the auto-population of details from e-invoices into GSTR-1 is only a facility for the taxpayers. After viewing the auto-populated data, the taxpayer shall verify the propriety and accuracy of the amounts and other data in each field, especially from the perspective of GSTR-1 and file the same, in the light of relevant legal provisions.
  • Once the auto-population into GSTR-1 gets started, the taxpayers are requested to verify the documents present in the excel and may share feedback on GST Self Service Portal, on below aspects:
  • All documents reported to IRP are present in excel
  • Status of each e-invoice/IRN is correct
  • All the details of document are populated correctly

GST UPDATES from 01.11.2020 to 30.11.2020:

Sl. No.

 

Notification(s) Notification No. Link(s)
1.

 

Rajasthan decides to go for Option-1 to meet the GST implementation shortfall Press Release ID: 1670379  

LINK

2. Rs 1,05,155 crore of gross GST revenue collected in the month of October 2020 Press Release ID: 1669239 LINK
3. CGST officials bust racket for generating fraudulent input tax credit through fake billing of around Rs 1,278 crore Press Release ID: 1668567 LINK
4. Seeks to amend notification no. 41/2020-Central Tax dt. 05.05.2020 to extend due date of return under Section 44 till 31.12.2020. 80/2020-Central Tax dated 28.10.2020  

LINK

 

5.

Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards GSTN Update 410  

LINK

6 Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021 GSTN Update 413 LINK
7 Auto-population of e-invoice details into GSTR-1 GSTN Update 414 LINK
8 Seeks to notify amendment carried out in sub-section (1), (2) and (7) of section 39 vide Finance (No.2) Act, 2019. 81/2020-Central Tax dated 10.11.2020  

LINK

9 Seeks to make the Thirteenth amendment (2020) to the CGST Rules.2017 82/2020-Central Tax dated 10.11.2020  

LINK

10 Seeks to extend the due date for FORM GSTR-1 83/2020-Central Tax dated 10.11.2020  

LINK

11 Seeks to notify class of persons under proviso to section 39(1). 84/2020-Central Tax dated 10.11.2020  

LINK

12 Seeks to notify special procedure for making payment of 35% as tax liability in first two month 85/2020-Central Tax dated 10.11.2020  

LINK

13 Seeks to rescind Notification 76/2020-Central tax dated 15.08.2020 86/2020-Central Tax dated 10.11.2020  

LINK

14 Seeks to extend the due date for furnishing of FORM ITC-04 for the period July- September 2020 till 30th November, 2020 87/2020-Central Tax dated 10.11.2020  

LINK

15 Seeks to implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 100 Cr from 01st January 2021. 88/2020-Central Tax dated 10.11.2020  

LINK

16 provisions relating to Quarterly Return Monthly Payment Scheme CBEC-20/01/08/2020 -GST  

LINK

17 the Central Goods and Services Tax (Thirteenth Amendment) Rules, 2020 No. 82/2020–Central Tax LINK
18 Online filing of application (Form GST EWB 05) by the taxpayer for un-blocking of E-Way Bill (EWB) generation facility GSTN Update 420 `LINK
19 Update on auto-population of e-invoice details into GSTR-1 GSTN Update 421 `LINK
20 Seeks to waive penalty payable for noncompliance of the provisions of notification No.14/2020 – Central Tax, dated the 21st March, 2020. 89/2020-Central Tax dated 29.11.2020 LINK

CS Lalit Rajput

Company Secretary having 5 years of post-qualification experience in the Compliance Management Services industry by serving Corporates including Listed Companies, Corporate Secretarial Firms, and LLP. I have a keen interest in Corporate Governance and Compliance Management and the soaring craving to learn every day. The aim is to dive deep into the Corporate Governance sphere and help the industry with knowledge and practical exposure. Mail:- lalitrajput537@gmail.com Phone: +91 8802581290

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