Important Points for GST Return and Late Fees

Important Points for GST Return and Late Fees 

वार्षिक रिटर्न GSTR- 9,9C की Due Date (GSTR-9 Due Date (2017-2018)m 31^st January, 2020. (Order No. 10/2019-Central Tax dated 26th Dec, 2019))आते-आते जीएसटी पोर्टल ने काम करना बंद कर दिया है, तो Due Date बढ़ानी चाहिए कि नहीं ? ज्यादा से ज्यादा शेयर करे और अपनी राय (Twitter) कमेंट में जरूर दे

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” Finance Ministry tweeted. “In the view of such huge response, which would lead reduction in unmatched credit, it has been decided to extend the said amnesty scheme (GST Form GSTR-1 of tax periods (Monthly/Quarterly) starting from July, 2017 to November, 2019) from 10th  Jan. 2020 to 17th January 2020 By Notification No. 05/2020 – Central Tax,

1. Due dates for Form GSTR-9, Form GSTR-9A and Form GSTR-9C –  Order No. 10/2019-Central Tax dated 26th Dec, 2019- Extends the last date for furnishing of annual return/GST reconciliation statement (GST Audit Report) in FORM GSTR-9/FORM GSTR-9C for FY 2017-18 till 31^st  January, 2020.

2. late fee payable under section 47 of the CGST Act shall stand waived for the registered persons who failed to furnish the details of outward supplies in GST FORM GSTR-1 for the months/quarters from July, 2017 to Nov. 2019 by the due date but furnishes the said details in GST FORM GSTR-1 between the period from 19th Dec. 2019 to 10th Jan. 2020.”- from 10th  Jan. 2020 to 17th January 2020,

3. GST Return Due Date-All taxpayers are required to file return FORM GSTR-3B & pay tax on monthly basis.

4. Due date for GST Return GSTR-3B for the month of July 2019 is extended till 20th September 2019  for GST taxpayers having a principal place of business in J & K (Jammu and Kashmir) and certain districts of Bihar, Gujarat, Karnataka, Kerala, Maharashtra, Odisha, and Uttarakhand. and The late fees for July 2019 GST Return GSTR-1(filed monthly) and Form GSTR-6 have been waived off for the gst taxpayers having a principal place of business in certain districts of the flood-affected States -( Bihar, Gujarat, Karnataka, Kerala, Maharashtra, Odisha, and Uttarakhand and all districts of J&K (jammu and kashmir).
5. Taxpayers with turnover up to Rs. 1.5 Cr are required to file information in FORM GSTR-1 on a quarterly basis.  Other taxpayers would have to file GST Return FORM GSTR-1 on a monthly basis. Note-
   

   Particular	Due Date
   GSTR-1(Oct-Dec, 2019)	Jan 31st, 2020
   Turnover exceeding Rs. 1.50 Crores or opted to file monthly Return
   GSTR-1(Nov, 2019)	Dec 11th, 2019

6. On account of difficulties being faced by taxpayers in furnishing the annual returns in FORM GSTR-9, and reconciliation statement in FORM GSTR-9C, the GST Council in its 35th meeting held on 21.06.2019 extended the due date for furnishing these returns/ reconciliation statements for the Financial Year  2017-18 is extended from November 30, 2019 to December 31, 2019.
7. Late fee has been completely waived for all taxpayers in case FORM GSTR-1, FORM GSTR-3B & FORM GSTR-4 for the months / quarters July, 2017 to September, 2018 are furnished after 22.12.2018 but on or before 31.03.2019.
8. The last date for furnishing statement containing the details of the self-assessed tax in FORM GST CMP-08 for the quarter April, 2019 to June, 2019 (by taxpayers under composition scheme), has been extended from 31.07.2019 to 31.08.2019 Note-Form GST CMP-08 (Composition Dealers) form will be filed every quarterly on or before 18th day of succeeding month of tax period

   Note:- Last date for filing of CMP-08 (July to Sep) for composition taxpayers is extended to 22nd of Oct,2019.

    
9. the option of payment of tax under notification No. 2/2019- Central Tax (Rate) dated 07.03.2019 is extended to 30.09.2019.
10. Earlier, the reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under subsection (4) of section 5 of the IGST Act, 2017 was kept under suspension till 30.09.2019.
11. From October 2017 onwards, the amount of late fee for late filing of FORM GSTR-3B payable by a registered person is as follows:

•       whose tax liability for that month was „NIL‟ will be 20 rupees per day instead of 200  Rupees per day
•      whose tax liability for that month was not „NIL‟ will be 50 rupees per day instead of 200 rupees per day

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