It is mandatory for all business firms to register for GST Return filing on monthly periods, every calendar quarter, and yearly GST Returns as per their business type. GST system in India registers businesses and filings on every bi-monthly return and one annual return.
Latest GST Updates
2023 GST Updates
May 10, 2023
The Central Board of Indirect Taxes and Customs (CBIC) has announced the implementation of the 6th phase of e-invoicing. Starting from August 1, 2023, businesses with a turnover of ₹5 crore or more in any financial year from 2017-18 are required to issue e-invoices.
May 6, 2023
The GST department has extended the deadline for reporting old e-invoices on the e-invoice Invoice Registration Portal (IRP) by three months. The new implementation date is yet to be announced.
April 13, 2023
As per advisories issued by the GST Network on April 12 and April 13, 2023, businesses with an annual turnover of Rs. 100 crore or more must report tax invoices and credit-debit notes to the IRP within seven days from the invoice date, starting from May 1, 2023.
March 31, 2023
CGST notifications 02/2023 to 08/2023, issued on March 31, 2023, have implemented the recommendations of the GST Council, including the following:
- Amnesty schemes have been introduced for late filers of GSTR-4, GSTR-9, and GSTR-10, defaulters attracting Section 62 of the CGST Act (Best Judgement assessment), and for applying for the revocation of cancelled GST registration in REG-21. These schemes are valid until June 30, 2023.
- CGST notification 05/2023 notifies the implementation of risk-based biometric Aadhaar authentication for Gujarat, effective December 26, 2022.
- The limitation period under Section 168A for issuing orders under Section 79 (recovery proceedings) has been extended for past years as follows:
- The extension is for FY 2017-18 until December 31, 2023.
- The extension is for FY 2018-19 until March 31, 2024.
- The extension is for FY 2019-20 until June 30, 2024.
February 1, 2023
Updates from Budget 2023 include the decriminalization of offences and the extension of the composition scheme to e-tailers. For a complete overview of the GST highlights from Budget 2023, please refer to our Budget 2023 highlights.
January 12, 2023
The GST portal now offers an automated facility to drop proceedings and revoke cancelled GSTINs for taxpayers who have filed pending GST returns.
January 4, 2023
CGST Notification 01/2023, issued on January 4, 2023, grants additional powers to the Additional Assistant Directors in the Directorate General of Goods and Services Tax Intelligence (DGGI), Directorate General of Goods and Services Tax (DGGST), and Directorate General of Audit. These powers were previously vested with the Superintendent of central tax.
2022 GST Updates
December 1, 2022
The 48th GST Council meeting is scheduled for December 17, 2022, with various items on the agenda.
November 10, 2022
- Circular 181 has been issued to clarify that refund-related amendments will apply prospectively.
- Circular 182 provides the verification procedure for transitional credit claims made by taxpayers between October 1, 2022, and November 30, 2022.
September 28, 2022
- Amendments related to Input Tax Credit (ITC) conditions in the Finance Act 2022 have been notified.
- The due date for claiming ITC and making sales/credit-debit note amendments for a financial year has been extended until November 30 of the following year.
September 1, 2022
The recent changes in reporting ineligible input tax credits in Table 4 have been implemented on the GST portal.
August 1, 2022
The e-invoicing system will be expanded to businesses with an Annual Aggregate Turnover (AATO) exceeding Rs.10 crore starting from October 1, 2022, as per Central Tax notification no. 17/2022. (b) Businesses with over Rs.5 crore turnover must now provide a six-digit HSN code in Table 12 of GSTR-1.
July 5, 2022
The Central Board of Indirect Taxes and Customs (CBIC) has notified six new CGST notifications, including (a) Modifying the GSTR-3B format to include a new table for reporting e-commerce sales and taxes payable by e-commerce operators and sellers. (b) Notifying Section 110 of the Finance Act 2022, allowing the transfer of CGST in cash from one GSTIN to another as CGST or IGST using Form PMT-09. (c) Extending the due date for filing GSTR-4 and CMP-08 with late fee waivers.
June 29, 2022
The 47th GST Council meeting occurred in Chandigarh on June 28-29, 2022. Key recommendations were made regarding revisions to the rates of goods and services, trimming down the GST exemption list, and opening up the GSTR-3B format for public suggestions.
May 26, 2022
As per CGST Notification no. 7/2022, the late fee for filing GSTR-4 for FY 2021-22 has been waived if filed between May 1 and June 30, 2022.
February 24, 2022
- The e-invoicing system will be extended to businesses with an annual aggregate turnover ranging from Rs.20 crore to Rs.50 crore starting from April 1, 2022, as per notification no. 1/2022.
- Composition taxable persons and those interested in opting into the FY 2022-23 scheme must submit a declaration on the GST portal in Form CMP-02 by March 31, 2022.
February 1, 2022
The Union Budget 2022 introduced significant changes to the GST law.
2021 GST Updates
29th December 2021
(1) The 46th meeting of the GST Council took place on December 31, 2021, in New Delhi. Led by Union Finance Minister Nirmala Sitharaman, the meeting decided to defer the GST rate hike to 12% for textiles.
(2) Amendment made to CGST Rule 36(4) to remove the provision of 5% additional Input Tax Credit (ITC) over and above the ITC appearing in GSTR-2B. Starting from January 1, 2022, businesses can avail ITC only if the supplier in GSTR-1/IFF reports it and it appears in their GSTR-2B.
(3) The due date to file GSTR-9 and self-certified GSTR-9C for the financial year 2020-21 has been extended until February 28, 2022.
(4) Various amendments have been made to seizure and detention rules, penalties, and certain forms such as DRC-10, DRC-22, DRC-23, and APL-01. The new form DRC-22A has been added as per Central Tax notification no. 40/2021.
21st December 2021
The following changes will be effective from January 1, 2022:
(1) Input Tax Credit (ITC) claims will only be allowed if they appear in GSTR-2B as per Section 16(2)(aa). Taxpayers can no longer claim the provisional ITC of 5% under CGST Rule 36(4) and must ensure that every ITC value claimed is reflected in GSTR-2B.
(2) The tax officer can issue a notice under Section 74 to multiple persons for short tax payments or excess ITC claims due to fraud. It is now amended that the officer can confiscate and seize goods or vehicles even after concluding proceedings against all persons liable to pay specific or general penalties.
(3) Taxpayers cannot file GSTR-1 if the GSTR-3B for the previous period was not filed.
(4) GST officers can initiate recovery proceedings without show-cause notice against taxpayers who under-report sales in GSTR-3B compared to GSTR-1 under Section 75(12).
(5) All e-commerce aggregators involved in food delivery services or cloud kitchens under Section 9(5) will be liable to pay tax on services provided. However, restaurants with accommodation with a tariff per unit of more than Rs.7,500 per day are excluded.
(6) The scope of passenger transport motor vehicles is expanded to include services rendered through Omnibus and any other motor vehicle, not just radio taxis or cabs, under Section 9(5).
(7) Aadhaar authentication is required for the following facilities: applying for a refund under CGST Rules 89 (Excess tax, interest, penalty, fees paid) and 96 (IGST paid on goods or services exported out of India) in RFD-01, and applying for the revocation of cancelled GST registration under CGST Rule 23 in REG-21.
24th September 2021
Starting from October 1, 2021, the filing frequency for the ITC-04 form has been revised as follows:
(1) Those with an Aggregate Annual Turnover (AATO) above Rs.5 crore will file it half-yearly for April-September (due on October 25) and October-March (due on April 25).
(2) Those with an AATO up to Rs.5 crore will.
September 1, 2021
The 45th meeting of the GST Council is scheduled to be held on September 17, 2021. The agenda includes discussing extending tax concessions for COVID-19 essentials, addressing GST compensation to states, and rectifying the inverted tax structure.
August 29, 2021
The deadline to avail the GST Amnesty Scheme has been extended until November 30, 2021. The scheme applies to GSTR-3B filings from July 2017 to April 2021. Taxpayers can also avail an extended time until September 30, 2021, to revoke cancelled GST registration if the cancellation falls between March 1, 2020, and August 31, 2021. Additionally, company taxpayers can continue filing GSTR-1 and GSTR-3B using EVC or DSC until October 31, 2021.
August 26, 2021
Starting September 1, 2021, taxpayers with pending GSTR-3B filings cannot file GSTR-1 or use the IFF for August 2021 on the GST portal. This applies to taxpayers with pending GSTR-3B for the previous two months (monthly filers) or the last quarter ending June 30, 2021 (quarterly filers), as per CGST Rule 59(6).
June 30, 2021
The requirement to file Form GSTR-9 (annual return) for the financial year 2020-21 has been waived for GST-registered persons with an aggregate turnover of up to Rs.2 crore. The reconciliation statement can now be submitted on a self-certification basis instead of requiring audit and certification by CA/CMA. Taxpayers with an aggregate turnover of up to Rs.5 crore are not required to file self-certified GSTR-9C, and changes have been made to the format of Form GSTR-9C from FY 2020-21 onwards.
June 1, 2021
Several updates were announced, including the amendment to Section 16, allowing taxpayers to claim input tax credits based on GSTR-2A and 2B. Interest calculation has been changed based on net tax liability after reducing eligible ITC. Late fee relief has been provided for taxpayers who missed the due dates for filing GST returns in March, April, and May 2021. The due date to file GSTR-1 for May 2021 has been extended, and the due date for filing GSTR-4 for FY 2020-21 has also been developed.
May 28, 2021
The 43rd GST Council meeting was held on May 28, 2021. The council approved the reintroduction of the GST amnesty scheme, rationalized late fees for all taxpayers, especially small taxpayers, and exempted IGST on the import of COVID treating equipment and relief materials until August 31, 2021.
2020 GST Updates – Revised Version
Update as of December 30, 2020:
The due date for filing GSTR-9 & GSTR-9C for the financial year 2019-20 has been extended until February 28, 2021.
Update as of December 22, 2020:
- GST registration can be cancelled or suspended under CGST Rule 21A in the following cases, at the discretion of the tax officer:
- Major discrepancies between GSTR-3B, GSTR-1, and GSTR-2B
- Utilization of Input Tax Credit (ITC) from the electronic credit ledger to pay more than 99% of the tax liability for specified taxpayers, with total taxable supplies exceeding Rs. 50 lakh in the month (with exceptions)
- Non-filing of GSTR-1 due to non-filing of GSTR-3B for more than two consecutive months (one quarter for QRMP scheme options).
- Changes in Rule 36(4) from January 1, 2021:
- ITC will be available based on invoices uploaded by suppliers in their GSTR-1 or by using the Invoice Furnishing Facility (IFF).
- Recipients can claim provisional input tax credit in GSTR-3B up to 5% of the total ITC available in GSTR-2B for the month instead of the previous 10%.
- Certain taxpayers cannot make payments from their electronic credit ledger exceeding 99% of the tax liability for the period. Exceptions include specific categories of taxpayers, such as those who have paid significant income tax or received a refund of unutilized input tax credit.
- Changes in e-way bill regulations:
- From January 1, 2021, the validity of e-way bills, except for over-dimensional cargo, will be calculated based on a distance of 200 km instead of the previous 100 km.
- Non-filing of GSTR-3B for two consecutive tax periods or suspension of GSTIN under CGST Rule 21A will block e-way bills under Rule 138E.
Update as of November 29, 2020:
The penalty imposed on non-compliance with dynamic QR code provisions for B2C invoices has been waived between December 1, 2020, and March 31, 2021. However, eligible registered persons must comply with these provisions from April 1, 2021.
Update as of November 10, 2020:
Taxpayers with an aggregate turnover exceeding Rs. 100 crores must implement e-invoicing from January 1, 2021. Additionally, the Quarterly Return Monthly Payment (QRMP) scheme has been introduced for taxpayers with an AATO of up to Rs. 5 crores, allowing them to file quarterly GSTR-3B. The due dates for GSTR-1 filings from October 2020 to March 2021 have also been provided.
Update as of October 28, 2020:
The due date for filing GSTR-9 & GSTR-9C for the financial year 2018-19 has been extended until December 31, 2020.
Update as of October 15, 2020:
Filing GSTR-9 (Annual Return) is now optional for small taxpayers (turnover up to Rs. 2 crores) for the financial year 2019-20.
Update as of October 1, 2020:
Taxpayers have been granted a grace period of 30 days for generating an Invoice Reference Number (IRN) for invoices issued between October 1, 2020, and October 31, 2022
Update on 2019
July 27, 2019
GST Council’s important updates to read as it was held on Saturday, 27.07.2019, where the 36th meeting was held through video conference. The highlights are as follows.
July 25, 2019
36th GST council meeting was postponed with a notification of ‘Date to be announced soon’. Here are the highlights and the expected topic list from the meeting. Read in detail about the GST Council Meeting
July 18, 2019
CMP-08 filing deadline was extended between the period of April 2019- to June 2019, that is, from July 18, 2019, to July 31, 2019.
June 28, 2019
CBIC notifications key aspect announcement:
- The last date for GSTR-1(Monthly & Quarterly) and GSTR-3B (July 2019 to September 2019) is notified. The ITC-04 filing deadline has been extended from the month of July 2017 to June 2019. This is to give more time for the service providers who want to change to the composition scheme under Notification 2/2019 CT Rate dated 7th March 2019. Update yourself with the latest dates on the GST calendar.
- FORM GST PMT-09 is allowed to be utilized only by the registered person for the tax amount transfer, shares or interest, disciplinary fine, charges or other available tax charges in the electronic cash account entertained under the Act for incorporated tax, central tax, State tax or Union territory tax or cess.
- Might any time mandate for future reference. Such Quick Response (QR) codes are used along with the Tax Invoice and Bill of Supply notification.
- Kerala Flood Cess fund Calculation for the valued supply is applicable.
- Refund of taxes to the outlets of established retails in the international Airport departure zone following the tax-free supply immigration counters on monthly or quarterly, that is, outgoing international tourist facilities filed under the FORM GST RFD- 10B.
- Online Information Database Access and Retrieval Services(“OIDAR services”) are levied for the suppliers to furnish the Annual Return / Reconciliation Statement details.
- GSTR-4 new format is to be filed on an annual basis are notified. ( liable for FY 2019-2020 onwards)
June 21, 2019
35th GST Council Meeting was conducted on June 21st, 2019, under the lead of FM Nirmala Sitharaman.
- The GST Annual Return deadline was extended from June 30th to August 31st, 2019 (FY 2017-18).
- Aadhar is included in the GST registration that has been introduced.
- NAA tenure was extended for a further two years.
- A 10% penalty is applied for the delay in filing the amount that is profiteered.
- E-invoicing – January 2020
- Mandatory E-ticketing for movie theatres
- The slashing of a rate cut on Electric vehicles, EV chargers & leasing is deferred; report submission committee.
- Declining rates for the lottery are postponed; the Attorney General is to view the subject Matter.
- States decide on the number of GSTATs required for them (GSTAT to be GST Appellate Tribunal.)
Mar 28, 2019
The deadline for ITC-04 has been changed from July 2017 to March 2019 to 30th June 2019.
Mar 19, 2019
34th GST Council Meeting – 19th Mar 2019.
Video conferencing with GST Council members to discuss and pass the circulars prepared for reduced rates on affordable and non-affordable housing under formation.
February 24, 2019
- The 33rd GST Council meeting – 24th February 2019.
- The extended due date to file GSTR-3B for the month of January 2019 to 22nd February 2019*
* Notification issued by CBIC. The State of Jammu & Kashmir’s deadline is 28th February 2019.
February 10, 2019
The 33rd GST Council meeting is scheduled for 20th February 2019 via Video Conferencing (The next meeting).
Headed by the chairperson Finance Minister Arun Jaitley where the attention is focused on the Real estate and export sector.
The first meeting following the Interim Budget 2019.
January 10, 2019
32nd GST Council meeting was held in New Delhi and chaired by Shri Arun Jaitley. Announcements were made regarding MSMEs and minor traders.
Important takeaways for the 32nd GST Council meeting follows:
- GST registration limit is upgraded from Rs 20 lakhs to Rs 40 lakhs for goods suppliers.
- The existing composition scheme changes are added to increase the rotation limit for the new joiners up to Rs 1.5 crores, where the tax payments are made every quarter with filed returns annually from April 1st, 2019.
- Introduction of the New composition scheme for the service providers who supply goods and their services where
- The turnover limit = Rs 50 lakhs, and
- The tax rate = 6% (fixed).
- No reduction in rate announcement was made. The study of taxation of under-construction properties & lotteries was done with the help of GoMs.
- Natural disasters cess was charged along with the regular GST rate as a flood cess reduction of 1% within the State of Kerala for the next two years among the suppliers whose GST collection for each commodity is 12% or more.
