Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part1) 05/06/2021

The government has granted a waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May, 2021, vide Notn. Nos. 18/2021 & 19/2021, both dtd. 1st June 2021. The details are summarized below:

  1. Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B

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Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part2) 04/06/2021

The government has granted a waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May 2021, vide Notn. Nos. 18/2021 & 19/2021, both dtd. 1st June, 2021. The details are summarized below:

B.Relaxation in the filing of Form GSTR-3B (Quarterly) by Taxpayers under QRMP Scheme

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Extension in dates of various GST Compliances for GST Taxpayers 03/06/2021

The government has extended the dates of various compliances by Taxpayers under GST vide Notn No 12/2021-CT, dated 1st May, 2021, r/w Notn No 17/2021 CT dated 1st June, 2021Notn No 14/2021-CT, dated 1st May, 2021,r/w Notn No 24/2021-CT, dated 1st June, 2021Notn No 25/2021-CT, dated 1st June, 2021Notn No 26/2021-CT, dated 1st June, 2021. The details are summarized below:

A. Filing of Form GSTR-1/IFF by Normal Taxpayers:

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Extension of the due date of filing Application for Revocation of Cancellation of Registration 31/05/2021

“In view of the decision of GST Council taken in its 43rd meeting dt. 28.05.2021, the timeline for filing of the ‘Application for Revocation of Cancellation’ for those applicants, for whom the due date of filing such application was falling between 15 April to 29th June, 2021, has been extended up to 30th June, 2021.”

Thanking You,
Team GSTN

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Generation of GSTR-2B for April 2021 17/05/2021

Rule-60(7) of CGST Rules-2017 prescribes for generation of the auto-drafted statement containing the details of input tax credit in FORM GSTR-2B for counter-party recipients. As per Rule-60(8) of CGST Rules-2017, FORM, GSTR-2B shall be made available to the recipients after the Due date of filing GSTR-1/IFF by the suppliers. Notification No. 12/2021-CT and 13/2021-CT, both dated 1st May 2021 extend the Due date of GSTR-1 and IFF for April 2021, to 26th and 28th May 2021, respectively. Consequently, GSTR-2B for April 2021 will be generated after the Due dates, on 29th May 2021.

Taxpayers willing to file FORM GSTR-3B for April 2021 before GSTR-2B generation may do so on a self-assessment basis. Notification No. 13/2021-CT dated 01.05.2021 prescribes a cumulative limit under Rule-36(4) for ITC claimed in periods April & May 2021

Thanking You,
Team GSTN

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Due dates for filing of Form GSTR-3B from the Tax Period of January, 2021 16/04/2021

1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No 82/2020 – Central Tax, dated 10th Nov., 2020, has revised Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from January, 2021, onwards, as under:

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Updates in Forms GSTR-1, GSTR-3B and Matching Offline Tool for taxpayers in QRMP Scheme 13/04/2021

With effect from 1st January, 2021, all taxpayers with Annual Aggregate Turnover up to Rs 5 Crore have been given an option to file their Form GSTR-1 Statement and Form GSTR-3B return on a quarterly basis. They also have an option to file B2B invoice details in Invoice Furnishing Facility (IFF) for months 1 and 2 (eg. Jan and Feb) of the quarter in order to pass on the credit, whereas the remaining invoices have to be declared in the Quarterly Form GSTR-1 of Month 3 (e.g. March).
I.The salient points related to filing of Form GSTR-1 Statement & auto-population of liability in Form GSTR-3B for taxpayers under QRMP Scheme for the quarter Jan-Mar., 2021, are summarized below:

    a)Before filing Form GSTR-1, taxpayers may note the following:

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New features of Form GSTR-2B & GSTR-3B made available to taxpayers under QRMP Scheme 13/04/2021

  1. The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available to them are summarized below.
  2. Auto Generation of Form GSTR-2B, for the QRMP taxpayersa)Form GSTR-2B contains details of filed IFFs (for Month M1 & M2) & filed Form GSTR 1 (for Month M3).
    b)Form GSTR 2B has two sections of ITC i.e. ITC available and ITC not available (which flows from the supplier’s filed IFF & Form GSTR-1, imports etc). It also contains tax liability of the taxpayer (which flows from the taxpayers own filed IFF & Form GSTR-1).
    c)Taxpayers can view and download their system-generated Quarterly Form GSTR-2B for Jan-March, 2021 quarter, by clicking on Auto-drafted ITC statement for the quarter on 14th April, 2021, by selecting the last month of the quarter (M3).
    d)The default view of Form GSTR-2B is quarterly. However to view Form GSTR-2B of a particular month (M1, M2 or M3), taxpayer has an option to select appropriate month, from the view drop-down to view that month’s data.
    e)A hyperlink ‘View advisory’ has also been provided, which on clicking displays the criteria/ cut-off dates considered for quarterly GSTR-2B as a pop-up, with details of Supplies from/type i.e. Monthly taxpayer, Taxpayer in QRMP Scheme, NRTP, ISD & Import from Overseas/SEZs, and ‘From date’ and ‘To date’ based on which Form GSTR-2B has been generated.
  3. Auto-population of ITC in Form GSTR-3B for the QRMP taxpayersa) Figures of ITC available and ITC to be reversed will now be auto-populated in Table 4 of Form GSTR-3B, for the QRMP taxpayers, from their system generated quarterly Form GSTR-2B.
    b) On the GSTR-3B dashboard page, an additional button ‘System computed GSTR-3B’ has also been provided, by clicking which system computed Form GSTR-3B can be downloaded in PDF format.
    c) Taxpayer can edit the auto-drafted values as per their records and save the updated details.
    d) The system will show a warning message to taxpayers in case ITC available is increased by more than 5% or ITC to be reversed is reduced even partially, by them. However, the system will not stop the filing of Form GSTR-3B in such cases.

The above is for your information and necessary action please.
Thanking you,

Team GSTN.

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Clarification on reporting 4-digit/6-digit HSNs 12/04/2021

GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in HSN Master/ not accepted on e-invoice/e-Way bill portals.

Background: Notification No. 12/2017-Central Tax dated June 28, 2017, as amended vide Notification No. 78/2020 – Central Tax, dated October 15, 2020, mandates taxpayers to declare specified digits, as follows, of Harmonised System of Nomenclature (HSN) / Service Accounting Code (SAC) Code on raising of tax invoices, w.e.f. April 1, 2021.

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Payment of Tax by Taxpayers under QRMP Scheme, for the month of March, 2021 08/04/2021

  1. taxpayers having aggregate turnover up to Rs 5 crores, under QRMP Scheme (w.e.f. 01.01.2021 onwards), are required to furnish returns on a quarterly basis, along with payment of tax on a monthly basis.
  2. Person availing of QRMP Scheme are required to pay tax due, in each of the three months of the quarter, by depositing the due amount as discussed below.
  3. Payment of Tax for first two months of a quarter (M1 & M2 ie for January and February month for Jan-March QuarterAll ):

A )While generating the challan, taxpayers must select “Monthly payment for the quarterly taxpayer” as reason for generating the challan.

 

B)They can choose either of the following two options to generate the Challan:

(I)  35% Challan (Fixed Sum Method): For taxpayers opting for this method, the portal will generate a pre-filled challan in Form GST PMT-06, for an amount equal to 35% of the tax paid in cash, in the preceding quarter, if the return was furnished quarterly or equal to the tax paid in cash in the last month of the immediately preceding quarter, if the return was furnished monthly.

 

(II)  Challan on a self-assessment basis (Self-Assessment Method): These taxpayers can pay tax due by considering the tax liability on inward and outward supplies and the input tax credit as available, in FORM GST PMT-06.

 

Note: The aforesaid options are not available for payment of tax for third month (M3) of the quarter to persons availing QRMP Scheme.

(C) Payment of Tax for third month of a quarter (M3 ie for March month for Jan-March Quarter): For third month of the quarter (M3), taxpayers can click button ‘Create Challan’ in Payment Table 6 of Form GSTR-3B and file GST-PMT-06 Challan, for depositing any amount towards their tax liability.

 

(D)For more details on QRMP Scheme, please click on below links:

https://www.gst.gov.in/newsandupdates/read/417
https://www.gst.gov.in/newsandupdates/read/437
https://www.gst.gov.in/newsandupdates/read/447

This is for your information and necessary action, please.

Thanking You,
Team GSTN

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IN PDF:https://www.gst.gov.in/newsandupdates/read/462