1.
Due dates:
|
FORM
|
Period
|
Due Date
|
Reference, if
any
|
|
GSTR-3B
|
OCT 2019-Mar 2020
|
20th of succeeding
month
|
44/2019-CT
|
|
GSTR-1
(Quarterly)
|
Next 2 quarters (OCT 19-
MAR 20)
|
Last day of succeeding
month of that
quarter
|
45/2019-CT
|
|
GSTR-1
(Monthly)
|
OCT 2019-Mar 2020
|
11th day of succeeding
month
|
46/2019-CT
|
2.
Annual Return for taxpayers having aggregate
turnover up to Rs. 2 crore:
Filing of annual returns is optional for the registered
persons having aggregate turnover up to Rs. 2 crore.
Very Important: Be noted that the return for these taxpayers is not scrapped. It
is clearly mentioned in the notification that the return shall be deemed to be
furnished if not furnished before the due date. So be ready ………………
Reference:
Notification No. 47/2019-CT
3.
Registered person who has applied
for cancellation shall not issue any tax invoice and not charge any tax on
supplies made by him during the period of suspension of his registration. By
any chance, if registration is not cancelled and the suspension is revoked, the
taxpayer needs to issue revised invoice for all the invoices raise in the
suspension period and declare the same in next
return.
4.
Claiming of credit not available in
GSTR-2A should not be more than 20% of eligible
credit available in GSTR-2A. Time period to test the same is not clearly
mentioned, but we believe it should be done on yearly parameters.
For example:
Total eligible credit in GSTR-2A is Rs.5,00,000.
Then, scope of credit that can be claimed which are not available in
GSTR-2A is Rs.1,00,000 (5,00,000*20%) subject to other conditions.
Another Example: Total Credit in GSTR-2A is Rs.5,00,000 out of which
Rs.1,00,000 is ineligible.
Then, scope of credit that can be claimed which are not available in
GSTR-2A is Rs.80,000 (4,00,000*20%) subject to other conditions.
5.
FORM GSTR-3B is now a return and
luckily/unluckily this will have retrospective effect. (Gujarat High Court
judgement in the case of AAP & Co. has lost it’s relevance in respect to
the above subject.)
6.
Only The Central Government shall
disburse the amount of refund based on consolidated payment advice for grant of
provisional refunds.
7.
Missed TRAN-1 due to technical
difficulties or fortunate enough to be in Council’s recommendation for such
extension?? No worries. Please file it before 31st December 2019.
And due to that TRAN-1, missed TRAN-2?? No worries. Please file it before 31st
January 2020.
8.
A lifeline will be given before
issuance of SCN under 73(1)/74(1) in the form of DRC-01A basically intimating
the person of tax and applicable interest ascertained by the proper officer
with proper grounds. If the person desires to file any submission against the
proposed liability or intimate about partial payment of such ascertained value
may do the same by filing PART-B of DRC-01A.
Reference (3-9): Notification No. 49/2019-CT
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