Dated 6th April, 2020

 
The taxability dispute on ocean freight has been finally decided by the Gujarat High Court, which held that taxing ocean freight is ultra vires and leads to double-taxation

Notifications and Circulars issued to provide relief to taxpayers in view of spread of COVID – 19


Amendment in CGST Rules1

  • Cumulative application of the condition of availment of 110% of eligible credit as disclosed in GSTR-2A for the period February2020-August 2020. Earlier the input credit was availed in GSTR-3B as per the above condition on a monthly basis. Further after the amendment the condition for availment of ITC shall be applicable on a cumulative basis for the above prescribed tax period and shall required to be complied in GSTR-3B for the month of September 2020.
  • Extending the time period for applying to composition scheme in form GST CMP-02 for FY 2020-21 till 30th June 2020and furnishing statement in form ITC-03 till 31st July 2020.

Extending the due date of compliance whichfalls during the period from 20.03.2020 to 29.06.2020 till 30.06.2020 and extending the validity of e-way bills.2

  • The extension for time of compliance has been made applicable for filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, ISD return, TDS return under GST, TCS returns under GST.
  • There are certain exception, the same has been mentioned below:-
  1. It shall not be applicable for taxpayers furnishing return in GSTR – 3B except for ISD return, TDS return under GST, TCS returns under GST
  2. Tax invoice to be raised even during this period and time and value of supply provisions shall be in vogue
  3. Application for normal/causal/non-resident registration need to be done even during lockdown
  4. E-way bill to be made even during lockdown
  5. Turnover of composition tax payer exceeds the threshold, due dates for furnishing details of outward supplies, levy of late fees, levy of interest on delayed payment of tax, power to arrest in case of offence specified under the section 132 of the Act, liability of partners of the firms to pay tax, penalty for certain offences as specified under section 122 of the CGST Act, detention, seizure and release of goods and conveyances in transit as specified under section 129 of the GST Act.
  • Validity of E-way bill shall be deemed to have been extended till the 30th day of April, 2020 where e-way bill has been generated under rule 138 of the Central Goods and Services Tax Rules, 2017 and its period of validity expires during the period 20th day of March, 2020 to 15th day of April, 2020.

Extension of due date for various return are given as follows3


Extension of Due Date*

Month

Turnover

GSTR-3B - Due date

Rate of Interest

GSTR-1

Late Fees

Feb-20

More than 5 cr

24th June 2020

Nil- Till 4th April 2020. Thereafter 9% p.a. will be charged.

 

 

30th June 2020

Waived

More than 1.5 cr

29th June 2020

Nil

Upto 1.5 cr

30th June 2020

Nil

Mar-20

More than 5 cr

24th June 2020

Nil- Till 5th May. Thereafter 9% p.a. will be charged.

More than 1.5 cr

29th June 2020

Nil

Upto 1.5 cr

3rd July 2020

Nil

Apr-20

More than 5 cr

24th June 2020

Nil- Till 4th June 2020 thereafter 9% p.a. will be charged

More than 1.5 cr

30th June 2020

Nil

Upto 1.5 cr

 6th July 2020

Nil

May-20

More than 5 cr

27th June 2020

Nil

Upto 5 cr

12th/14th July 2020

Nil

*Due dates for furnishing FORM GSTR-3B for themonths of February, March and April, 2020 has not beenextended. In case the returns in FORM GSTR-3B for the said months are not furnished on or before 24th day of June, 2020 then interest at 18% per annum shall be payable from the due date of return, till the date on which the return is filed.

Due date extended for furnishing FORM GST CMP-08 (Statement for payment of self assessed tax under composition scheme) for the quarter ending March, 2020 till 07.07.2020 and filing FORM GSTR-4 (Return for composition dealers) for FY 2020-21 till 15.07.2020.4

Clarification has been issued relation to the above notifications vide which various measures announced by the government for providing relief to the tax payers in view of COVID -195

1Notification number- 30/2020 dated April 3, 2020

2Notification number – 35/2020-GST dated April 3, 2020

3Notification number- 31,32,33,36/2020-GST dated April 3, 2020

4Notification number- 34/2020-GST dated April 3, 2020

5Circular No 136.06.2020 dated April 3, 2020


Recent Amendments in GST

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Recent Amendments in GST

Recent Amendments in GST
Founder Member

Bhaskar Thakkar

Chief Executive officer

BT Associates, India

thakkar@btassociate.com

Twenty years of experience in tax practice. Specialist in structuring & planning and tax optimization under indirect tax. Lead eastern India indirect tax practice of Ernst & Young in past.