E-Way Bill Validity Changed from 1 Jan 2021

Earlier, E-Way Bill Validity was 1 day for Every 100 Km or part thereof

Now, it is changed to 1 day for every 200 Km from 1 Jan 2021
eway bill validity 20-21.png
 

QRMP Scheme from 1 Jan 2021

Earlier, Every Person had to compulsorily file GSTR3B Monthly
Now, if turnover upto 5 crores, Person can file Quarterly GSTR3B
However, challan is to be paid Monthly
This scheme is Called QRMP Scheme
(Quarterly Return Monthly Payment Scheme)
GSTR3b monthly or quarterly.png
 

What are GSTR3B Return Due Dates for QRMP Scheme

It is 22nd or 24th of Next Quarter
(22nd in Central ,West and South India and 24th in North and East India)
Example
Jan-Mar-->22 April OR 24 April
Apr-June-->22 July or 24 July
latest gstr3b due dates.png

 

What is Challan Due Date in QRMP Scheme

As we know that even in QRMP Scheme, Challan is to be paid monthly
Due date is 25th of next month for Month 1 and 2 of Quarter
For Last Month ,Challan is to be paid before filing GSTR3B Return
challan paid in qrmp scheme.png

GSTR1 Due Date Changed for Quarterly Tax Payers

Earlier,GSTR1 was filed by 31 days from end of Quarter
Now ,they are to be filed 13 days from end of Quarter
This change is applicable for Oct-Dec GSTR1 Return
However, there is no change in Monthly GSTR1 Returns
 

GSTR1 DUE DATE CHANGES.png


Concept of Invoice Furnishing Facility for Quarterly GSTR1

This is an optional scheme for Quarterly GSTR1 Filers
They can upload sales details monthly in this form so that buyer can get ITC
 
problem in quarterly filing of GSTR1.png
 
what is IFF.png
 

Due Dates for GSTR1 and IFF

We know that, now Quarterly Tax payers file GSTR1 by 13th of Next Quarter
Example
Jan-March GSTR1 to be filed by 13 April 2021
In this case, IFF can be filled for 
Jan by 13 Feb
Feb by 13 Mar
(However, No IFF for March)
due date for gstr1 and iff.png

Compulsory 1% Cash payment if Turnover More than 50 lacs

Earlier ,We can utilize total input against output to get GST Credit
Now, we can use Maximum 99% ITC and 1% of output we have to compulsorily pay in cash by filling challan
This is applicable only for large taxpayers if monthly sales are more than 50 lacs
compulsory payment of gst by cash ledger new.jpg.png

GSTR3B Return Form Autopopulated

Earlier
We had to Manually fill GSTR3B Forms
Sales Figures could be different from GSTR1
ITC Figures can also be more than GSTR2A
 
Now From Nov GSTR3B
These will be Autopopulated from GSTR1 and GSTR3B
But we can make changes
If changes more than 10%,it will be highlighted in red color as a warning
GSTR1 AUTOFILLED.png
 

Provisional Credit Restricted to 5% from Jan 2021

Earlier, we can take ITC upto 10% more than what is showing in GSTR2A
Now, this has been reduced to 5% from 1 Jan 2021
is checking gstr2a compulsory.png
 

NEW AMENDMENT IN GSTR1 IF TURNOVER IS UPTO 1.5 CRORES-FROM 1 OCT 2020

Earlier- If Turnover upto 1.5 crore,GST1 could be Quarterly or Monthly

Quarterly-One month from end of Quarter

Monthly-11th of Next Month

Now- If Turnover upto 1.5 crore,GST1 could be Quarterly only

Quarterly-13 Days from end of quarter

Monthly- Can't file monthly if turnover upto 1.5 crore

 

CHANGES IN GSTR1.png


Changes in the Annual Return(GSTR9) Due Dates

2018-19- Due date has been extended from 31st Dec 2019 to 31st Dec 2020

2019-20- Original date is 31st Dec 2019,which hasn't been extended as of now

Learn More


GSTR9 and GST9C Changes

As per Original Rule-

GSTR9(Annual Return)-Compulsory for all

GSTR9C -If turnover is more than 2 Crore 

As per Amendment-

GSTR9(Annual Return)-Optional if turnover upto 2 crore

GSTR9C-If turnover is more than 5 crore

 

GSTR9 and 9C.png

Learn More


Changes in HSN Code Requirement of Tax Invoice

HSN Code required on Tax Invoice has increased from 1st April 2021 as follows-

If turnover  in Previous Year is upto 5 crore HSN Code is 4 Digit(B2B Only)

If turnover is more than 5 crore HSN code is 6 digit

If turnover upto 5 crore, than HSN number is not required  if sales to unregistered

changes in HSN Code.png

 

Learn More


Return Filed by EVC or DSC

Return can be filed by EVC( Everification Code or OTP) only in case of Non-Companies

or 

DSC (Digital Signature) Can be filed by all

EVC can also be used by companies till 31st Oct 2020

 

 

returns filed by.png

Learn More


GSTR4 Due Date Extended for FY 2019-20

GST4 original due date was 30 April of Next Year

Hence Due Date for FY 2019-20 was 30 April 2020

It has been last extended to 31 Oct 2020 due to Lockdown

 

GSTR4 due date.png

 

Learn More


Other Amendments

Changes In GST (37th GST Council meeting held in Goa)

Annual return GSTR 9 is to be made optional, if turnover upto 2 Crore for F.Y. 2017-18 & 2018-19.

However, if turnover more than 2 crore then both GSTR 9 and GSTR 9C is to be filed

 

New Return Forms

The existing return forms GSTR 3B and GSTR 1 will be replaced by three new return forms

  1. GST Normal Return (Monthly/Quaterly)
  2. GST Sahaj Return
  3. GST Sugam Return

Whether Returns to be Filed Monthly or Quarterly

Those having turnover more than 5 Crores have to file Normal(Monthly) Returns

However, those having turnover upto 5 crores can chose Normal (Monthly /Quarterly)Returns

Note: - Last year turnover is to be taken .However for new business, likely turnover of current year is to be taken to determine whether turnover is monthly or quarterly

Learn more

 

Trial run of new return forms

Trial run of offline tool of new return of GST is available at GST website.

 

Changes In Composition Scheme Return Filing

Composition dealer needs to pay tax quarterly by 18th of next quarter in form CMP-08 and file return annually GSTR 4

PERIOD DUE DATE RETURN/PAYMENT FORM NAME
APRIL-JUNE 18/07/2018 31/08/2019 CMP-08(PAYMENT FORM)
JULY-SEPTEMBER 18-Oct-18 CMP-08(PAYMENT FORM)
OCTOBER-DECEMBER 18-Jan-19 CMP-08(PAYMENT FORM)
JANUARY-MARCH 18-Apr-19 CMP-08(PAYMENT FORM)
APRIL 2019-MARCH  2020 30-Apr-20 GSTR -4 (RETURN)

Learn more

 

Due date for filing intimation in FORM CMP-02 extended to 30.09.2019

Last date for filing intimation , in FORM GST CMP-02 , to avail benefit of Notification no. 2/2019 dated 07.03.2019 has been extended to 30.09.2019

 

GSTR 3B Filing Extended

GSTR3B was to be filed only from July 2017 to Dec 2017, Now,it has been extended to  September 2019 for quaterly scheme and November 2019 for monthly scheme

 

Annual Return Due Date Extended

Due date for

GSTR 9,GSTR 9A,GSTR 9C for FY 2017-18 extended to 31st December 2019

 

Due Date For Gstr 7(Tds Return) Extended

Due date for TDS Return from October 2018 to June 2019 is extended to 31st August 2019

 

Registration Limit Increased For Goods

Registration Limit

FOR GOODS

If Aggregate Turnover is greater than  40 lacs or likely to exceed 40 lacs, then Compulsory Registration is required (Amendment from 01.04.2019)

(Limit is 20 lacs for North Eastern States) (Amendment from 01.02.2019)

 

FOR SERVICES

If Aggregate Turnover is greater than 20 lacs or likely to exceed 20 lacs, then Compulsory Registration

(Limit is 10 lacs for North Eastern States)

Learn more

 

Compositions scheme now available to all service providers

New Amendment from 1 April 2019

  • In case of service provider (except restaurant)
  • If turnover is upto 50 lac, then 6% Rate of tax for composition scheme
  • Till 31st March 2019, composition scheme was not available to such service provider

Type of Business

TILL 31 DEC 2017

FROM 1 JAN 2018

FROM 1 APRIL 2019

Trader

1%

1%

1%

Manufacturer

2%

2%  1%

2%  1%

Restaurant

5%

5%

5%

Other services

N/A

N/A 6%

Turnover Limit for composition  scheme changed

If turnover upto 100 lacs, then Composition Scheme can be availed

This to be shown in increase to 150 lacs from 1st April 2019 

For north eastern state and Uttarakhand limit has been increased from 50 lac to 75 lac 

 

Till 31st March 2019 and From 1st April 2019.jpg


GSTR 9 (Annual return) now available at GST website

Online filing of GSTR 9 has been made active on the GST portal. It can be accessed after logging in the portal and selecting Services -> Returns -> Annual Return.

Important points

1. There is no facility for revision of GSTR 9. Therefore, it is advised to file GSTR 9 with utmost care.

2. Online filing tool is available in cases where the number of records in Table 17 (HSN wise summary of outward supplies) or Table 18 (HSN wise summary of inward supplies) are upto 500.

3. Where number of records exceed 500 in Table 17 or 18, then filing will be facilitated through offline utility only. Offline utility is not available for download as of now, but it is expected to be activated very soon.

4. A summary of GSTR 9 is available on the portal for downloading which is based on the GSTR 1 and 3B already filed by the registered person. Such summary is only for representational purpose and the facility to make changes in the fields reflected in the GSTR 9 is available through the online filing tool.

5. Summarized GSTR 1 and 3B for FY 17-18 are also available for downloading.

6. After filling up the details in the respective tables, the registered taxpayer shall click on "Compute liability" button to ascertain the amount of liability. If there is any short payment, then payment of tax can be made through GST DRC-03. Such liability can be paid only in cash.


Due date due dates for annual returns 30th June 2019. Due date for GST audit and filing of reconciliation in GSTR 9C is also 30th June 2019,

GSTR 3B Due Date For Jan 2019 Extended

Due date was 20th Feb 2019, now it has been extended to 22nd Feb 2019

However for Jammu and Kashmir, it is 28 Feb 2019

Important changes in GST Adjustment Rules

From 1 Feb Government has made changes in how IGST Credit will be adjusted

Learn More


Changes in GST Act from 31 st   Jan

  1. In case of inward supply from unregistered suppliers RCM shall be applicable to the notified persons and notified supply of goods/ services. −9(4)
    Currently there is no notification in this regard (so this RCM is still not applicable)
  2. Higher limit of turnover for composition scheme raised from Rs 1 Cr to Rs 1.5 Cr. – Section 10
  3. Composition dealers in goods allowed to supply services for a value not exceeding – Higher of 10% turnover or Rs 5 lacs, whichever is higher.
  4. Taxpayers may opt for multiple registrations within a state/UT for different place of business having same PAN.
    (Earlier it was possible only if we had different business vertical (diff business)
  5. Registration shall remain temporary suspended till completion of cancellation (No return to be filled).
  6. Threshold limit of turnover for exemption for special category states – Assam, Arunachal Pradesh, Himachal Pradesh, Meghalaya, Sikkim, Uttarakhand increased to Rs 20, 00,000.

  7. Registered person may issue consolidated credit or debit notes to a party in respect of multiple invoices issued in a financial year to that party.
    (earlier separate debit note credit note for diff invoices)
  8. Change in blocked credit U/s 17(5)
  9. Change in definition of supply as specified in schedule III (Exclusion from Supply)
  10. Mandatory registration is required only for those E- Commerce operator who is required to collect TCS
    (earlier for all E-Commerce operators, registration was compulsory)

Exemption limit till 31st jan from 1 feb.jpg

NICAI Updates:

Key updates of 31st GST Council Meeting.

  1. GST Rates of 7 items reduced from 28% to 18% . Items include tyres, VCR, billiards & snookers and lithium batteries.
  2. GST Rate of 33 items have come down from 18% tax slab to 12% and 5% tax bracket as they are common man’s consumption goods. These items include Third Party insurance Vehicle and Solar Power Systems
  3. Only 34 items will be taxed at 18% GST Rate or more
  4. All items except luxury goods would be taxed under 28% GST Rate

    rate-cuts-31st-gst-meeting-849x1024.jpg
  5. The GST Council is also looking into introducing composition scheme for the real estate sector. A view on Real Estate sector will be taken in next GST Council meeting
  6. A composition Scheme will be framed for Small Service provider. Threshold and mechanism will be decided in next GST Council Meeting
  7. MSME Committee may re-consider the thresh hold limit of 20 Lakh for larger interest.
  8. Centralized authority for Advance ruling in case of conflicting views of Advance Ruling Authorities. The decision of Centralized authority will bind the whole country.
  9. New GST Refund filing system will be introduced on pilot basis with effect from 1st April 2018
  10. Addition GST fees waived for returns filed upto 31st March 2019
  11. GST Annual return due date has been extended to 30th June 2019
  12. ITC for last FY invoices allowed upto March 31, 2019
  13. New GST Return to be launched on trial basis from April 1, 2019 Next GST Council meeting will be held in January 2019
  14. Late fee shall be completely waived for all taxpayers in case FORM GSTR-1, FORM GSTR-3B &FORM GSTR-4 for the months / quarters July, 2017 to September, 2018, are furnished after 22.12.2018 but on or before 31.03.2019.
  15. Due date for claiming ITC of FY 2017 18 Extended till March 2019
  16. Due date of furnishing GSTR8 for Oct to Dec 18 extended to 31.01.2019
  17. GST on Export of Services in case of Outsourcing of services
  18. Due date of FORM ITC 04 for the period July’17 to Dec’18 extended till 31.03.2019

 


UNIQUE COMMON ENROLLMENT FOR TRANSPORTER

 

A Transported registered in more than one state with same PAN No may apply for 

Unique Common Enrollment No by submitting FORM ENR-02, provided he may not be able 

to use old Good and Services Identification No.

 

Due Date for Gstr-6

Due Date for Gstr-6 From July 2017 to June 2018 has been Extended till 31st July 2018

 

 

LATE FOR GSTR-3B WAIVED IN SOME CASES

 

due date for each of the months from October,
2017 to April, 2018, for the class of registered persons whose declaration in FORM GST
TRAN-1 was submitted but not filed on the common portal on or before the 27th day of
December, 2017:
Provided that such registered persons have filed the declaration in FORM GST
TRAN-1 on or before the 10th day of May, 2018 and the return in FORM GSTR-3B for each
of such months, on or before the 31st day of May, 2018.

 

  

NO REVERSE CHARGE ON UNREGISTERED DEALER TILL 30 SEPTEMBER

Earlier reverse charge on unregistered dealer was suspended till 31st March now extended till 30th September

Learn more

https://www.teachoo.com/6060/1968/What-is-Reverse-Charge-Mechanism-(RCM)-in-GST/category/Reverse-Charge-in-GST/

 

 

 

E-WAY BILL FOR DELHI

E-way Bill are compulsory for intra state movement of in all states

However for delhi E Way bill is compulsory if amount is more than 100000(and not 50000)

Also it is compulsory only in case of B2B (and not B2C)

Note-For interstate sales,rules are same all over India

Different rules are only for intrastate in Delhi

 

GST Rate for Manufacturers also 1% in Composition Scheme

Government has changed GST Rates for Manufacturers from 2% to 1% vide Notification 1/2018

Hence, now GST Rates are similar for Traders and Manufacturers

Summary of Rates

Type of Business

TILL 31 DEC 2017

FROM 1 JAN 2018

Trader

1%

1%

Manufacturer

2%

2%  1%

Restaurant

5%

%


E-Way Bill Compulsory from 1 Feb 2018

E-Way Bill needs to be generated for movement of goods  50000 or more

Transporter has to carry this E way bil while moving goods from one placed to another

 

This has to be generated either

Online at E Way bill website  ewaybill.nic.in

Or

Through SMS

This has been started in a trial manner from 16 Jan 2018 and will be compulsory from 1 Feb 2018

It will be mandatory from 1 April 2018

 

For details procedure refer

https://www.teachoo.com/6667/2184/E-way-bill-process-in-UP-(Uttar-Pradesh)/category/E-way-bill-process/


Due Dates of GST Returns Extended

1. Due dates for GSTR-1 for monthly tax payer

July - November, 2017                 

10th January, 2018

December, 2017                            

10th February, 2018

January, 2018                                 

10th March, 2018

 

April, 2018

31st May, 2018

 

May, 2018

10th June, 2018

June, 2018

10th July, 2018

 

2. Due dates for GSTR-1 for quarterly  tax payer

July - September, 2017                  

10th January, 2018

October - December, 2017           

15th February, 2018

January - March, 2018                  

30th April, 2018

 

April - June, 2018                  

31st July, 2018

 

3. Due Dates for Other GST Returns Extended

Form No

Applicable for

Due Date

GSTR 5

July-Dec

Non Resident Taxable Person

31 Jan 2018

GSTR 5A

July-Dec

Online information and database access or retrieval services

31 Jan 2018

FORM GST ITC 01

July-Nov

Taking GST Credit in Case of Existing Stock in Hand(Fresh Registration, Conversion of composition into Regular Scheme)

31 Jan 2018

 

Reduction in Late fees for GST Return of Composition Dealer

Late fees for late filing of return for Composition Dealer has been made same as Regular Dealer

Late fees is as follows

Case

Late Fees

In case No Tax Payable

20 per day

In Case Tax Payable

50 per day

Note:-

Late fees Is to be divided equally into CGST and SGST

Even if IGST is payable, still for late fees we have to pay CGST and SGST(and not IGST)

No GST on Advance Received in Case of Goods

As per Time of Supply of Goods

Gst is payable on earlier of Invoice

Last Date of Invoice

Date of Payment

Hence, if payment received in advance, GST was payable on advance received

This condition has been removed now from 15 Nov 2017  vide Notification 66/2017

Hence, if advance received by Trader or Manufacturer, but goods not yet sold, now no GST is payable

However, receipt voucher is still to be issued by Trader/Manufacturer on receipt of advance(even though no tax is to be paid to govt)

 

Note:-

This concession is only for goods, not services Hence GST is payable if advance received by Service Provider

In case of Reverse Charge, if payment made in advance, still reverse charge is applicable for both gods and services.


Note:-

GST has had other changes. See GST Changes on the 10 November Meeting  

Download in PDF

Changes Made in GST  Council Meeting 6 Oct 2017

View

Changes in Council meeting in 10th Jan

  1. GST Council also approved levy of cess on intra State supply of goods and services within the State of Kerala at a rate not exceeding 1% for a period not exceeding 2 years.

  2. The limit of annual turnover in the preceding financial year for availing composition scheme for goods shall be increased to Rs 1.5 crore. Special category States would decide, within one week, about the composition limit in their respective States.

  3. Taxpayers under composition scheme will now need to file one annual return but payment of taxes would remain quarterly (along with a simple declaration)

  4. There would be two threshold limits for exemption from registration and payment of GST for the suppliers of goods i.e. Rs 40 lakhs and Rs 20 lakhs. States would have an option to decide about one of the limits within a weeks’ time. However, the threshold for registration for service providers would continue to be Rs 20 lakhs and in case of Special category States Rs 10 lakh

  5. A composition scheme shall be made available for suppliers of services (or mixed suppliers) with a tax rate of 6% (3% CGST + 3% SGST) having an annual turnover in preceding financial year upto Rs 50 lakhs. The said scheme shall also be applicable to both service providers as well as suppliers of goods and services, who are not eligible for the presently available composition scheme for goods.

  6. Following matters were referred to Group of Ministers
    i)  Proposal of giving a composition scheme to boost the residential segment of the real estate sector.
    ii)  GST rate structure on lotteries.

  7. Changes made by CGST (Amendment) Act,2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 along with amendments in CGST Rules, notifications and Circulars issued earlier and the corresponding changes in SGST Acts would be notified w.e.f. 01.02.2019.

  1. GST - Goods and Services Tax, India
  2. GST News & Updates

Transcript

Now Quarterly GSTR3B Returns if Turnover Upto 5 Crores EARLIER NOW Till Dec 2020 from 1 Jan 2021 Monthly GSTR3B Return If Turnover upto 5 Cr Quarterly GSTR3B Return or Monthly GSTR3B (as per Choice) GSTR3B DUE DATES If Turnover more than 5 Cr (In Last Year) If Turnover upto 5 Cr Diff Dates State Wise Type 1 Central, West and South India Type 2 North and East India 20th of Next Month If Monthly Scheme 22nd of next Month 24th of next Month If Quarterly Scheme 22nd of next Quarter 24th of next Quarter How is Challan to Be Paid in QRMP Scheme? QRMP =QUARTERLY RETURN MONTHLY PAYMENT GSTR Return to be filed Quarterly By 22/24th of Next Month Period GSTR3B Date Jan-Mar 22 April/24 April Challan is to be paid Monthly By 25th of Next Month for Month 1 and Month 2 Month Challan Date Jan 25-Feb Feb 25-Mar Mar GSTR3B Due Date (22 Apr/24 Apr How is Challan Amt Determined? Fixed Sum Method Self Assessment Method 35% of Tax of Last Quarter (If Last GSTR3B Quarterly) or 100% of Tax of Last Month (If Last GSTR3B Monthly) Normal Procedure of Calculating Input and Output (after checking GSTR2A) Challan Amount for First 2 Months (If Last GSTR3B Monthly) 100% of Tax of Last Month Example In Dec, we file GSTR3B Monthly Now we file GSTR3B Quarterly for Jan-Mar Dec Output 5000 Input 4000 GST Payable 1000 Tax to be Paid in Jan-Mar Jan 1000 Feb 1000 march (Actual Calculation) Jan-Mar Suppose, Output 10000 Suppose, Input 6000 GST Payable 4000 Less Chalan already paid Jan 1000 Feb 1000 Bal Challan in March 2000 Challan Amt for First 2 Months (If Last GSTR3B Quarterly) 35% of Tax of Last Quarter Jan-Mar Output 10000 Input 6000 GST Payable 4000 Tax to be Paid in Apr-June Apr 1400 (4000*35%) May 1400 (4000*35%) June (Actual Calculation) Apr-June Suppose, Output 12000 Suppose, Input 7000 GST Payable 5000 Less Chalan already paid Jan 1400 Feb 1400 Bal Challan in March 2200 GSTR1 Due Date for FY 2020-21 If Turnover upto 1.5 Cr Quarterly Scheme Earlier One month from end of Quarter Apr-June 202031-Jul-2020 31-Oct-2020 Now 13 Days from end of Quarter Oct-Dec 2020 13-Jan-2020 13-Apr-2021 Problem in Quarterly Filing of GSTR1 by seller Suppose Sales Made by A to B on 5 Oct Jan-Mar 2020 July-Sep 2020

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.