Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


Central Goods and Services Tax (Eighth Amendment) Rules, 2019[i]

GST Notifications issued on 13.12.2019

In Rule 48 which relates to Manner of Issuing Invoice new sub-rules are inserted after sub-rule (3) namely:

Sub-rule (4) 'The invoice shall be prepared by such class of registered persons as may be notified by the Government, on the recommendations of the Council, by including such particulars contained in FORM GST INV-01 after obtaining an Invoice Reference Number by uploading information contained therein on the Common Goods and Services Tax Electronic Portal in such manner and subject to such conditions and restrictions as may be specified in the notification”

Class of Registered persons means 'whose aggregate turnover in a financial year exceeds one hundred crore rupees in respect of supply of goods or services or both to a registered person”[ii] (w.e.f. 01.04.2020)

Common Goods and Services Tax Electronic Portal for the purpose of preparation of the invoice namely:

(i) www.einvoice1.gst.gov.in;
(ii) www.einvoice2.gst.gov.in;
(iii)www.einvoice3.gst.gov.in;
(iv) www.einvoice4.gst.gov.in;
(v) www.einvoice5.gst.gov.in;
(vi) www.einvoice6.gst.gov.in;
(vii) www.einvoice7.gst.gov.in;
(viii) www.einvoice8.gst.gov.in;
(ix) www.einvoice9.gst.gov.in;
(x) www.einvoice10.gst.gov.in

The above mentioned websites mean the websites managed by the Goods and Services Tax Network, a company incorporated under the provisions of section 8 of the Companies Act, 2013. (w.e.f. 01.01.2020)[iii]

Sub-rule (5) 'Every invoice issued by a person to whom sub-rule (4) applies in any manner other than the manner specified in the said sub-rule shall not be treated as an invoice”.

Sub-rule (6) 'The provisions of sub-rules (1) i.e. Invoice shall be prepared in triplicate in case of supply of goods and sub-rule (2) i.e invoice shall be prepared in duplicate in case of supply of services of Rule 48 shall not apply to an invoice prepared in the manner specified in sub-rule (4)”

Provision of Rule 46(Tax Invoice) of the CGST Rules, 2017[iv]

Sixth Proviso inserted in Rule 46 as per Notification 31/2019 dt: 28.06.2019 which states that 'Provided also that the Government may, by notification, on the recommendations of the Council, and subject to such conditions and restrictions as mentioned therein, specify that the tax invoice shall have Quick Response (QR) code” shall come into force from 1st April 2020

It hereby notifies further that an invoice issued by a registered person, whose aggregate turnover in a financial year exceeds five hundred crore rupees, to an unregistered person (hereinafter referred to as B2C invoice), shall have Quick Response (QR)code.

Provided that where such registered person makes a Dynamic Quick Response (QR) code available to the recipient through a digital display, such B2C invoice issued by such registered person containing cross-reference of the payment using a Dynamic Quick Response (QR) code, shall be deemed to be having Quick Response (QR) code.[v]

Due date for furnishing of return in Jammu & Kashmir[vi]

 

Forms

Due Date

Form GSTR-7

(July 19-Oct 19)

20/12/2019

Form GSTR-3B

(July 19-Sept 19)

20/12/2019

Form GSTR-3B

(Oct 19)

20/12/2019

Form GSTR-1

(July 19-Sept 19)

(Aggregate Turnover more than 1.5 crores rupees)

20/12/2019

Form GSTR-1

(Oct 19)

(Aggregate Turnover more than 1.5 crores rupees)

20/12/2019

Withdrawal of clarification on various doubts related to supply of Information Technology[vii]

 

As numerous representations were received expressing apprehensions on the implications of the Circular 107/2019. In view of these apprehensions and to ensure uniformity in the implementation of the provisions of the law across field formations, the Board hereby withdraws, ab-initio, Circular No. 107/26/2019-GST dated 18.07.2019

(For any further clarifications please check the said Notification or Circular mentioned in endnote)

 

The author can be reached at caurvashijoshi@gmail.com

Disclaimer: The Contents of this article are solely for informational purpose.

[i] Notification no. 68/2019-Central tax dt: 13.12.2019
[ii] Notification no. 70/2019- Central tax dt: 13.12.2019
[iii] Notification no. 69/2019-Central tax dt: 13.12.2019
[iv] Notification no. 71/2019- Central tax dt: 13.12.2019
[v] Notification no. 72/2019- Central tax dt: 13.12.2019
[vi] Notification no. 63/64/65/66/67 2019- Central tax dt: 12.12.2019
[vii] Circular no.127/2019- CGST dt: 04.12.2019

"Loved reading this piece by CA Urvashi Joshi?
Join CAclubindia's network for Daily Articles, News Updates, Forum Threads, Judgments, Courses for CA/CS/CMA, Professional Courses and MUCH MORE!"




Tags :



Category GST, Other Articles by - CA Urvashi Joshi 



Comments


update