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03 Nov2020
  • By Admin
  • Category Goods and Service Tax
  • Views 372
The CG on the recommendation of GST Council has made several changes through various notifications dated 15th October, 2020. The gist is mentioned as below-
 
Notifications Summary
NN 74/2020-CT and NN 75/2020-CT Due dates to file Form GSTR-1:
  1. The due date of furnishing return in the Form GSTR-1 for taxpayers having aggregate turnover of upto Rs. 1.5 crores for the tax period from October 2020 to March 2021 shall be as follows: -
 
Time Period Due Date
October, 2020 - December,
  1.  
January 13, 2021
January, 2021 to March, 2021 April 13, 2021
 
  1. The due date of furnishing return in the Form GSTR-1 for the months from October, 2020 till March, 2021 for the taxpayers having aggregate turnover of more than Rs. 1.5 crores shall be 11th day of the succeeding month.
 
NN 76/2020-CT Due dates to file Form GSTR-3B:
  1. The due date of furnishing the Form GSTR-3B for the taxpayers having aggregate turnover of up to Rs. 5 crores for the period October, 2020 to March, 2021 shall be as follows: -
 
Category of States Due Date
Category 1 22nd of the succeeding month           
Category 2 24th of the succeeding month
 
  1. The due date of furnishing return in the Form GSTR-3B for the taxpayers having aggregate turnover of more than Rs. 5 crores shall be 20th day of the succeeding month.
 
Note: -
  • Category 1 States:
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 the Nicobar Islands or Lakshadweep.
 
  • Category 2 States:
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.
 
NN 77/2020-CT Exemption from filing Form GSTR-9 has been extended for FY 2019-20, also if registered person is having turnover up to Rs. 2 crores.
NN 78/2020-CT Requirements for quoting of HSN Codes mandatorily: -
  1. Aggregate turnover in the preceding FY up to Rs. 5 crores - 4 digits HSN codes to be mentioned on invoice. (B2C transaction may not have HSN)
  2. Aggregate turnover of more than Rs. 5 crores – 6 digits HSN code to be mentioned in respect of all invoices.
NN 79/2020-CT
  1. The said notification stated certain amendments in CGST Rules, 2017 including relaxation from filing Form GSTR-9C for the FY 2019-20.
  2. Exemption from filing Form GSTR-9C has been extended for FY 2019-20, also if the registered person is having turnover up to Rs. 5 crores.

In summary, the CG has made several changes to GST regulations through recent notifications. These changes include revised due dates for filing GSTR-1 and GSTR-3B based on turnover, exemption from filing GSTR-9 for FY 2019-20, and mandatory mentioning of HSN codes on invoices. These amendments aim to streamline the GST filing process and provide relief to taxpayers.

Stay updated with the latest GST changes and ensure compliance with ease. Learn more about the notifications and their impact by connecting with us at info@manishanilgupta.com

Disclaimer:The information provided in this blog is for general purposes only and should not be considered as professional advice

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