Recent changes made in GST

Background

• This Presentation covers the GST changes / observations/ press releases/ Tweet FAQs/ Sectoral FAQs released by CBEC since the last update on 23.02.2019. It supplements the earlier GST Updates.

• No update was released for the week ended on 02.03.2019, since no circular/ notification was issued during that week.

• This presentation is based on CGST Act/Rules/ Notifications. Similar parallel provisions in State Laws may be referred to as required

Notifications and Circulars

• Five Central Tax and one Central Tax (Rate) Notifications issued
• Two CBIC GST Circulars issued;
• One Corrigendum to Circular No. 76/50/2018-GST issued
• One CGST Removal of Difficulties Order issued
• New Return formats released on the GST Portal

Threshold limit for registration
(Effective from 1st April, 2019)

• Notification No. 10/2019-Central Tax dated 7th March, 2019
• Threshold limit for registration ( For those engaged in exclusive supply of goods-
• Enhanced to Rs. 40 lacs
• Except persons engaged in making intra-State supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, Uttarakhand
• Except persons required to take compulsory registration under section 24
• Except suppliers of Ice cream and other edible ice, whether or not containing cocoa; Pan masala; Tobacco and manufactured tobacco substitutes
• The threshold for registration for service providers would continue to be Rs 20 lakhs and in case of Special category States Rs 10 lakhs

Special procedure for Statement of outward supplies (GSTR-1) for Small taxpayers

• Notification No. 11/2019 – Central Tax dated 7th March, 2019
• Time Period for filing GSTR-1 for Registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year
• For the Period April-June, 2019 - 31st July, 2019

Last Date for GSTR-1

• Notification No. 12/2019 - Central Tax dated 7th March, 2019
• The time limit for furnishing the details of outward supplies in FORM GSTR-1 under the CGST Rules, 2017, by such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year, for
• The months from April, 2019 to June, 2019
• Till the 11th of the month succeeding such month

Last date for GSTR-3B

• Notification No. 13/2019 - Central Tax dated 7th March, 2019

• The return in FORM GSTR-3B of the CGST Rules, 2017 for each of the months from April, 2019 to June, 2019, shall be furnished
-  On or before the 20th of the month succeeding such month.

• Liability towards tax, interest, penalty, fees or any other amount payable under the CGST Act also to be paid
- On or before the 20th of the month succeeding such month.

To read more in details, find the attached file