Key Updates in Goods & Services Tax – November 2019

Due dates specified for furnishing returns in Form GSTR-3B Central Government vide Notification No. 44/ 2019-Central Tax has notified Monthly Summary Return i.e. GSTR 3B shall be continued till March 2020. The due date for filing the return shall be 20^th day of the following month for which return is to be filed. Due dates specified for returns in Form GSTR-1 (Quarterly) Central Government vide Notification No. 45/ 2019-Central Tax has notified that due date for filing of monthly GSTR 1 (Return for registered persons having an aggregate  turnover of  up  to  1.5  crore  rupees  in  the  preceding financial year or the current financial year) shall be the as follow:

Quarters	Due Date
October, 2019 to December, 2019	January 31, 2020
October, 2019 to December, 2019	April 30, 2020

Due dates specified for returns in Form GSTR-1 (Monthly) Central Government vide Notification No. 46/ 2019-Central Tax has notified that due date for filing of monthly GSTR 1 (Return for registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year) shall be the 11^th day of following month for which return is to be filed. Annual Return became optional for Small Tax Payers  Central Government vide Notification no. 47/ 2019-Central Tax has notified that filing of annual return in Form GSTR-9 on or before the prescribed due date for F.Y. 2017-18 and F.Y. 2018-19 will be optional for registered persons with an aggregate turnover in F.Y which does not exceed Rs. 2 crores. Amendment in GST Rules Central Government has issued Notification No. 49/ 2019-Central Tax to amend the CGST Rules 2017. Major amendments are summarized as below:

• Total unmatched credit cannot exceed 20% of ITC available and eligible as per GSTR 2A or in other words, it can be said that ITC of unmatched credits, can now be availed only to the extent of 20 percent of the eligible available credits reported in GSTR-2A.
• Enabling Central Government to disburse refunds for claims made to both the Central and State Governments, under consolidated payment advice, in case of provisional refunds.
• Due date of furnishing FORM GST TRAN-1 and FORM GST TRAN-2 has been extended to December 31, 2019 and January 31, 2020 respectively in respect of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and in respect of whom the Council has made a recommendation for such extension.

Change in constitution of Jammu & Kashmir and Ladakh as UT’s Central Government vide notification no. 51/2019-Central Tax on 31^st October 2019 notified the Jurisdiction of Jammu Commissionerate over newly formed Union Territory of Jammu & Kashmir and Union Territory of Ladakh which will now be subject to UTGST in place of SGST.   Contact Us for advice related to GST   Last Updated: 7th November 2019 This article is contributed by:  Vaibhav Matta Assistant Director, Taxation

Tag: Goods & Services Tax, GST, GST Update