Important Notifications issued by Central Board of Indirect Taxes and Customs (CBIC) on 9th October 2019 by CS Pankhuri Agrawal


GST Council is the governing body of GST having 33 members. It is chaired by the Union Finance Minister Nirmala Sitaraman.

GST Council is an apex member committee to modify, reconcile or to procure any law or regulation based on the context of goods and services tax in India.

Important Notifications ced79d99f14debb3708cfcf108257868.pdf issued by Central Board of Indirect Taxes and Customs (CBIC) on 9th October 2019 are as follows:

Notification No. 44/2019

As per GST Council decision, it was decided to continue with the existing system of filing GSTR 3B till March 2020.

This is on or before 20th day of the succeeding month.

Notification No. 45/2019

The notification prescribes the due date to furnish GSTR-1 for the registered person having an aggregate turnover of up to Rs.1.5 crore in the preceding financial year or the current financial year.

Quarter – Oct 19-Dec 19

Due date-31st January 2020

Quarter – Jan 19-Mar 2020

Due date-30th April 2020

Notification No. 46/2019

Taxpayers whose aggregate turnover is more than 1.5 Crores shall file GSTR 1 on a monthly basis.

GSTR-1 for each of the months of Oct 2019 to Mar 2020, can be filed till 11th day of the succeeding month.

Notification No. 47/2019

By issuing this notification filing of GST Annual return for the financial year 2017-18 and 2018-19 has been made optional, if not already filed before the due date.

The option is only for Small taxpayers.

(Whose aggregate turnover in a financial year does not exceed Rs. 2 Crores)

The notification also mentions that the said return shall be deemed to be furnished on due date if it not furnished before the due date.

Notification No. 48/2019

Waiver of Late fees for Jammu and Kashmir

CBIC notifies due dates for registered persons whose principal place of business is in the State of Jammu and Kashmir for furnishing of

FORM GSTR-1 (where aggregate turnover exceeds Rs. 1.5crores) for the month of July and  August, 2019.

The due date is 11th October, 2019.

FORM GSTR-7 for the month of July and August, 2019.

The due date is 10th October, 2019.

 FORM GSTR-3B for the month of July and August, 2019.

The due date is 20th October, 2019.

Notification No. 49/2019

It has been issued to make amendments in the CGST Rules, 2017 as under:

Suspension of registration

An explanation has been inserted in Rule 21A(3) to clarify that during the period of suspension of registration the registered person shall not issue a tax invoice and, accordingly, not charge tax on supplies made by him during the said period.

Further if an order for revocation of suspension is passed (i.e. the registration is restored), then provisions of Sec. 31(3)(a) (permitting revision of invoice) and Sec. 40 (dealing with first return) shall apply. In other words for the supplies made during the period of suspension, the invoice issued can be revised so as to make it a valid tax invoice and the details of such supplies are to be filed in the first return post the revocation of the registration.

Restrictions on availment of ITC

Following new sub-rule (4) has been inserted in Rule 36 dealing with conditions for claiming input tax credit:

“(4) Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37, shall not exceed 20 per cent. of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37.”

Author's Details

Name:- CS Pankhuri Agrawal
Email:- pankhurics@gmail.com
Phone:- 9717558511

 

Click here to read the disclaimer


Write a Comment