Due date extension of FORM GSTR-9 and 9C
CBIC vide
order no. 08/2019-Central Tax dated 14.11.2019 has extended the due dates of filing an annual return in Form GSTR-9 and reconciliation statement in Form GSTR-9C for F.Y. 2017-18 to December 31, 2019, and for F.Y. 2018-19 to March 31, 2020
Amendment in GST Rules (Primarily for simplification of the Annual Return / Reconciliation Statement)
Central Government has issued
Notification No. 56/ 2019-Central Tax dated 14.11.2019 to amend the CGST Rules 2017. Major amendments are summarized below:
Changes in GSTR -9
- No Separate details of Credit notes/ Debit Notes are required in Table-4I & 4J. Thus details of Credit notes/ Debit Notes can be merged with details given in Table-4B to Table-4E;
- Bifurcation of Input Tax Credit among Inputs, Capital Goods and Input Services is not required;
- Option to not provide Information on supplies received from composition taxpayers, deemed supply under section 143 and goods sent on approval basis (Table- 16A to 16C)
- Option to not provide HSN Wise Summary of Outward & Inward supplies (Table-17 & 18)
Changes in GSTR-9C
- Detail of turnover adjustments required in Table 5B to 5N made optional and all the adjustments required to be reported can be reported in Table 5O.
- Table 12B, 12C and 14 (ITC reconciliation) has also been made optional, some minor changes in Declaration part also
Fully electronic GST refund process
Central Government vide
Circular. 125/44/2019 – GST on 18.11.2019 has clarified and laid down the process or guidelines for electronic submission and processing of refund claims.
After implementation of GST from 01.07.2017, in case of refund of various types, few manual processes was involved on account of the unavailability of electronic refund module on the common portal, a temporary mechanism was devised and implemented wherein applicants were required to file the refund application in FORM GST RFD-01A on the common portal, take a print out of the same and submit it physically to the jurisdictional tax office along with all supporting documents. The further administrative process from department side such as the issuance of acknowledgment of the refund application, issuance of deficiency memo, the passing of provisional/final order, payment advice, etc. was also being done manually.
In order to make the process of submission of the refund application electronic, Circular No. 79/53/2018-GST dated 31.12.2018 was issued wherein it was specified that the refund application in FORM GST RFD01A, along with all supporting documents, shall be submitted electronically.
However, for processing of the refund application, few processes after submission of refund application continued to be manual.
Accordingly, the necessary capabilities for making the refund procedure fully electronic, in which
all steps of submission and processing shall be undertaken electronically, have been deployed on the common portal with effect from 26.09.2019.
Hence the fresh set of guidelines has been issued for electronic submission and processing of refund claims.
Clarification on 20% restriction in availing Input tax credit
CBIC vide Circular No. 123/42/2019-GST, dated 11-11-2019 has clarified in respect of recently inserted provision relating to restrictions for taking ITC when details of invoices or debit notes are not uploaded by the suppliers. As per Circular, the availment of restricted credit in terms of sub-rule (4) of Rule 36 of CGST Rules shall be done on self-assessment basis by the taxpayers, and the restriction, applicable only on the invoices/debit notes on which credit is availed after 09-10-2019, will be applicable only in respect of those invoices/debit notes, details of which are required to be uploaded by the suppliers under Section 37(1)
Applicability of GST rate on Job work
- Services by way of treatment or processing undertaken by a person on goods belonging to another registered person will attract GST @ 12%.
- Manufacturing services that are carried out on physical inputs (goods) owned by persons other than those registered under the CGST Act, 2017 will attract GST @ 18%.
Job work means any treatment or processing undertaken by a person on goods belonging to another registered person and the expression ‘job worker’ shall be construed accordingly.
Tag: GST Novemver Update, GST Update, GSTR, Tax Update
