Western India Regional Council of
The Institute of Chartered Accountants of India

Law Update Details

 
June 2019 CA. Rajiv Luthia
 

CBIC vide Notification No. 9/2019 - CT( Rate) dated 29th March, 2019 has amended Notification 2/2019-CT (Rate) dated 7th March, 2019 (basic exemption notification) & inserted following condition


Where any registered person who has availed of ITC and opts to pay tax under this notification, he shall pay an amount, by way of debit in the electronic credit ledger or electronic cash ledger, equivalent to the ITC in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock and on capital goods as provided in section 18(4) & rules made thereunder and balance if any left after such reversal shall lapse.


CGST Rules, 2017 as applicable to composite tax payer shall mutatis mutandis, apply to person paying tax under notification 2/2019-CT (Rate).


The said notification shall come into force from 1st April, 2019


CBIC vide Notification No. 10/2019 – CT (Rate) dated 10th May, 2019 extended due date for exercising the option by promoter/builder to pay tax at old rate of 8%/12% by filling Annexure-IV till 20th May, 2019.


CBIC vide notification no. 17/2019-CT dated 10th April, 2019 extended due date for filing GSTR 1 for the month of March, 2019 from 10th April, 2019 to 13th April, 2019.


CBIC vide notification no. 18/2019-CT dated 10th April, 2019 extended due date for filing GSTR 7 (Return by person require to deduct TDS) for the month of March, 2019 from 10th April, 2019 to 12th April, 2019.


CBIC vide notification no. 19/2019-CT dated 22nd April, 2019 extended due date for filing GSTR 3B for the month of March, 2019 from 20th April, 2019 to 23rd April, 2019.


CBIC vide notification no. 20/2019-CT dated 22nd April, 2019 amends CGST Rules, 2017 as follows


Rule 23 – New proviso has been inserted to provide that all the returns due from date of order of cancellation of registration till the date of order of revocation of cancellation of registration shall be furnished within 30 days from date of order of revocation of cancellation of registration.


Rule 62 – Rule has been amended to provide that Person paying tax under section 10 or person paying availing benefit of Notification 2/2019-CT (Rate) shall furnish details of payment of self-assessed tax in FORM GSTR CMP 08 till 18th of the month succeeding the quarter or part thereof & furnish a return in every financial year in FORM GSTR 4 by 30th of April following the end of financial year.


Consequently, Proviso to Rule 62 shall be omitted


Sub Rule 62(6) has been inserted to provide that a registered person who cease to avail benefit of notification 2/2019-CT (rate) shall furnish statement in FORM GST CMP 08 for the period for which he paid tax by availing benefit of said notification till 18th day of month succeeding the quarter in which the date of cessation takes place & return in FORM GSTR 4 shall be filed accordingly.


CBIC vide notification no. 22/2019-CT dated 23rd April, 2019 notifies 21st June, 2019 as date on which provision of Rule 138E (restriction for generating E-way bill) shall come into effect.


CBIC vide notification no. 23/2019-CT dated 11th May, 2019 extended due date till 10th June, 2019 for furnishing GSTR 1 for month of April, 2019 for registered person having principal place of business in Angul, Balasore, Bhadrak , Cuttack , Dhenkanal , Ganjam, Jagatsinghpur, Jajpur, Kendrapara, Keonjhar, Khordha, Mayurbhanj, Nayagarh and Puri district of Odisha.


CBIC vide notification no. 24/2019-CT dated 11th May, 2019 extended due date till 20th June, 2019 for furnishing GSTR 3B for month of April, 2019 for registered person having principal place of business in Angul, Balasore, Bhadrak , Cuttack , Dhenkanal, Ganjam, Jagatsinghpur, Jajpur, Kendrapara, Keonjhar, Khordha, Mayurbhanj, Nayagarh and Puri district of Odisha.

 

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