Some of the changes due to Covid-19 Issue 1 - Advance Received by suppliers for service in future but got cancelled. Solution: If the Supplier raises
Some of the changes due to Covid-19
Issue 1 - Advance Received by suppliers for service in future but got cancelled.
Solution: If the Supplier raises the Invoice before the supply of service and paid GST after that issue a credit note with the declaration of the details, the Taxpayer can claim the GST refund (if no output liability) or adjust the input in net liability. If refunded then claim under " Excess Payment of Tax" through FORM GST RFD-01
Issue 2 - Advance Received by suppliers for service in future but got cancelled.
Solution: If no Invoice is raised by suppliers, he requires to issue a refund voucher then the Taxpayer applies for a refund of GST paid on such advances. Refund claim under "Refund of Excess Payment of Tax" through FORM GST RFD-01
Issue 3: Goods supplied by Suppliers under cover of the invoice are returned by the recipient.
Solution: Suppliers are required to issue a Credit Note, and The Tax liability is adjusted in the return. The taxpayer can claim the GST refund (if no output liability) or adjust the input in net liability. If refunded then a claim under "Excess Payment of Tax if any" through FORM GST RFD-01
Issue 4 Time Limit for Filing LUT for FY 2020-21
Solution: Extended up to 30.06.2020, the Taxpayer can continue to make the supply without payment of Tax Provided that the FORM GST RFD-11 for FY 2020-21 is furnished on or before 30.06.2020.
Issue 5: Payment to the recipient:- TDS deduction under GST
Solution: The same has been extended till 30.06.2020. FORM GSTR-7 are also extended till 30.06.2020. No Interest shall be leviable if the tax deducted is deposited by 30.06.2020.
Issue 6: Application of GST, interest refund due date
Solution: Compliances made from 20.03.2020 to 29.06.2020. the same has been extended till 30.06.2020. The due date for filing an application has also been extended to 30.06.2020.
Issue 7: GSTR-2A - Input Rule 36 (4) CGST
Solution: GST returns relating to periods from February 2020 to August 2020, ITC as per Books can be claimed without considering the ITC as per GSTR 2A. However, the ITC claim has to be matched in a consolidated manner with GSTR 2A before filing GSTR 3B in September 2020. for Filing GST Monthly returns.
Issue 8: EVC/DSC for GSTR-3B filing
Solution: GSTR-3B fling for Company now through EVC
Issue 9: PMT-09 available on the GST portal
Solution: Available Cash balance transfer under one head to another head
Solution: If the Supplier raises the Invoice before the supply of service and paid GST after that issue a credit note with the declaration of the details, the Taxpayer can claim the GST refund (if no output liability) or adjust the input in net liability. If refunded then claim under " Excess Payment of Tax" through FORM GST RFD-01
Issue 2 - Advance Received by suppliers for service in future but got cancelled.
Solution: If no Invoice is raised by suppliers, he requires to issue a refund voucher then the Taxpayer applies for a refund of GST paid on such advances. Refund claim under "Refund of Excess Payment of Tax" through FORM GST RFD-01
Issue 3: Goods supplied by Suppliers under cover of the invoice are returned by the recipient.
Solution: Suppliers are required to issue a Credit Note, and The Tax liability is adjusted in the return. The taxpayer can claim the GST refund (if no output liability) or adjust the input in net liability. If refunded then a claim under "Excess Payment of Tax if any" through FORM GST RFD-01
Issue 4 Time Limit for Filing LUT for FY 2020-21
Solution: Extended up to 30.06.2020, the Taxpayer can continue to make the supply without payment of Tax Provided that the FORM GST RFD-11 for FY 2020-21 is furnished on or before 30.06.2020.
Issue 5: Payment to the recipient:- TDS deduction under GST
Solution: The same has been extended till 30.06.2020. FORM GSTR-7 are also extended till 30.06.2020. No Interest shall be leviable if the tax deducted is deposited by 30.06.2020.
Issue 6: Application of GST, interest refund due date
Solution: Compliances made from 20.03.2020 to 29.06.2020. the same has been extended till 30.06.2020. The due date for filing an application has also been extended to 30.06.2020.
Issue 7: GSTR-2A - Input Rule 36 (4) CGST
Solution: GST returns relating to periods from February 2020 to August 2020, ITC as per Books can be claimed without considering the ITC as per GSTR 2A. However, the ITC claim has to be matched in a consolidated manner with GSTR 2A before filing GSTR 3B in September 2020. for Filing GST Monthly returns.
Issue 8: EVC/DSC for GSTR-3B filing
Solution: GSTR-3B fling for Company now through EVC
Issue 9: PMT-09 available on the GST portal
Solution: Available Cash balance transfer under one head to another head
| Particulars | Revised Due date | Remarks |
|---|---|---|
| ITR for FY 2018-19 (Original as well as revised) | 30.06.2020 | The interest of 9 % Per Annum will be chargeable instead of 12 % Per Annum |
| Advance Tax For FY 2019-20 | 31.03.2020 | after that Interest of 0.75 % Per month will be chargeable |
| Passing the orders or issuance of notice by authorities | 30.06.2020 | - |
| Delay deposit of TDS | - | The interest of 0.75 % Per month will be chargeable instead of 1.50 % Per Month |
| No/ Lower deduction Certificates for FY 2019-20 | 30.06.2020 | - |
| The benefit of Sabka Vishwas Legal Dispute Resolution Scheme 2019 | 30.06.2020 | - |
| Return cum challan of EPF due date | 15.05.2020 | - |
| CBDT revising return forms | - | The CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21) to enable taxpayers to avail of the benefits of timeline extension due to Covid-19 which shall be notified by the end of this month |
| TDS FY 2019-20 4th Qtr for Return filing | 30.06.2020 | - |
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