Archives October 2020

Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal

01/09/2020

1. What is Form GSTR-4 Annual Return: – With effect from 1^st April, 2019, all Composition Taxpayers are required to file Form GSTR-4 Annual Return, on annual basis, for each financial year.
2. Who are required to file Form GSTR-4 Annual Return: All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year, starting from 01.04.2019, need to file Form GSTR-4 Annual Return, annually.
3. Who can file NIL Form GSTR-4 Annual Return: Nil Form GSTR-4 Annual Return can be filed for the financial year, if you have, for all applicable quarters of the year,:
   • NOT made any outward supply
   • NOT received any goods/services
   • Have NO other liability to report
   • Have filed all Form CMP-08 as Nil
4. Due date of Filing: The due date for filing Form GSTR-4 Annual Return is 30^th of the month succeeding the financial year or as extended by Government, from time to time. For FY 2019-20, it has to be filed by 31/10/2020.
5. Filing Form GSTR-4 Annual return: Logon to your dashboard, click on Services > Returns > Annual Return >Select FY>Search>GSTR 4> FILE THE RETURN.
6. Some important Points:
   • Form GSTR 4 can be filed only if, all applicable quarterly statements in Form CMP 08 of that financial year, have been filed.
   • Form GSTR-4 Annual Return, once filed, can’t be revised
   • After successfully filing, ARN will be generated and intimated through email and SMS
   • Currently only the online filing has been enabled on the portal. Shortly, offline tool to file Form GSTR-4 Annual Return will also be made available.
7. How it is different from Form GSTR-4 Quarterly Return: Please note that this Form GSTR-4 Annual Return is different from the Form GSTR-4 Quarterly Return, which was required to be filed on a quarterly basis.
   1. Form GSTR-4 Quarterly Return is applicable up to tax period ending on 31^st March, 2019, for composition taxpayers.
   2. For tax periods till the quarter ending March, 2019, Composition Taxpayers are required to file Form GSTR-4 Quarterly Return (which is also available on the GST portal), on quarterly basis. Whereas from 01.04.2019, composition taxpayers are required to file Form GST CMP 08, on quarterly basis.
8. Click links below for details:
   ForFAQ: https://tutorial.gst.gov.in/userguide/returns/index.htm#t=faq_GSTR4annual.htm
   ForUM: https://tutorial.gst.gov.in/userguide/returns/index.htm#t=manual_GSTR4annual.htm

   Thanking you,

Using Matching Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register

18/09/2020

1. 1. An offline tool has been made available to the taxpayers to match Input Tax Credit (ITC), as auto populated in their Form GSTR-2B, with their purchase register. This tool will help the taxpayer to compare their ITC as per their Purchase Register, with the ITC as shown available in their auto drafted Form GSTR-2B and thus help them to claim correct ITC, while filing Form GSTR-3B.

1. 1. To use the Matching Offline Tool, taxpayer need to :
      • download and install the Offline tool on their system
      • download the Form GSTR-2B JSON file from the GST portal
      • prepare purchase register in the template provided with offline tool
      • Total number of documents to match should be preferably be less than 3000 in number.

1. 1. Steps to use the utility:

1. 1. 1. Download the utility from GST common portal by navigating to Downloads>Offline Tools> Matching Offline Tool

1. 1. 1. Open the tool. Following boxes are displayed on Offline tool dashboard page:
         • GSTR-2B
         • Import Purchase Register (PR)
         • Matching Result

1. 1. 1. Import GSTR-2B JSON file, downloaded from GST portal into the tool, by tab ‘Open downloaded JSON file’ and use it to view the same.

1. 1. 1. Import the purchase register data, maintained in the template provided with offline tool, using Excel or CSV format, from Import Purchase Register (PR) tile.

1. 1. 1. Click on ‘Match’ button to match the above two details (c & d). The utility will match the table wise details based on the criteria for matching selected.

Note:

1. 1. 1. • The ‘Match’ button will be enabled only if purchase register has been successfully imported into the tool
         • The matching is done on the basis of GSTIN, Document type, Document number, Document date, taxable value, total tax amount and tax amounts head wise

1. 1. 1. Post matching, user will be navigated to the ‘Matching Result’ page and matching result will be summarized as Exact match, Partial match, Probable match or Unmatched.

1. 1. 1. Once matching is complete, taxpayer can:
         • Refine matching result
         • View summary of the matching result
         • Export the matching details to CSV file
         • Download the matching result details in excel format from offline utility.

1. Important points:
   • Profile of more than one GSTIN can be added in the offline tool for matching or to view GSTR-2B. Profile can be modified later on, if required.
   • Normal/SEZ developer/SEZ unit/casual taxpayer can use this tool. They must have valid login credentials and valid GSTIN for the period, for which they intend to view and match details of Form GSTR-2B.

Thanking you,

Relief in late fees to Taxpayers filing Form GSTR-4 or 10 and change in navigation of Comparison of liability declared and ITC claimed report

23/09/2020

1. 1. Relief to Composition Taxpayers in late fees for delayed filing of Form GSTR-4 (Quarterly Return):

1. 1. Vide Notification No 67/2020 dated 21.09.2020, the taxpayers who were under Composition Scheme, during any period till 31st March, 2019, have been provided relaxation in payment of late fees, on filing Form GSTR-4 (Quarterly Return).
   2. This relaxation is available, if Form GSTR-4 (Quarterly Return) is filed by them, between 22nd Sept., 2020 and 31st Oct., 2020, for any tax period of financial year 2017-18 or 2018-19.
   3. The details are as given below:

2. 2. Relief in late fees for delayed filing of Final Return in Form GSTR-10

2. 1. Vide Notification No 68/2020 dated 21.09.2020, the taxpayers who had failed to file final return, in Form GSTR-10, by due date, have been provided relaxation in payment of late fees, on filing of Form GSTR 10 (Final Return).
   2. Such taxpayers can now file Form GSTR 10 (Final Return) between 22nd Sept., 2020 and 31st Dec., 2020, by paying a maximum late fee of Rs 500 (Rs 250 for CGST & Rs 250 for SGST).

3. Shifting of navigation of “Comparison of liability declared and ITC claimed” from the Returns Dashboard to Services dropdown

1. 1. The functionality “Comparison of liability declared and ITC claimed” has been removed from Return Dashboard. It has now been made available on the main page, under the ‘Services’ tab, ‘Return’ sub-tab as “Tax liabilities and ITC comparison” , to make it more user friendly and for ease of access by the taxpayers.

1. The aforementioned functionality can now be accessed as per the following navigation (Post-login):
   Home > Services > Returns > Tax liabilities and ITC comparison

Thanking you,

e-invoicing – Relaxation and latest changes

01/10/2020

1.‘e-invoicing’ for certain classes of taxpayers has come into effect from 1-10-2020.

2.Keeping in view the hardships faced by the taxpayers due to COVID-19 lockdown and as some of these taxpayers are still not ready, as a last chance, Government had given relaxation that invoices raised by notified taxpayers during October, 2020 without following e-invoice procedure (i.e. uploading invoice details on e-invoice portal (IRP), obtaining IRN and issuing invoice with QR Code) will be deemed to be valid and no penalty will be there if the IRN for such invoices is obtained within 30 days of date of invoice.

3.Further, vide notifications (Central Tax) 70/2020 and 72/2020 dated 30-9-2020, certain amendments and additions were made in respect of e-invoicing. Below is the summary of amendments:

1. Regarding aggregate turnover threshold, it was specified that those who crossed Rs. 500 Cr. in any preceding financial year from 2017-18 onwards, will be covered.
2. Supplies for ‘exports’ are also specifically included under e-invoicing.
3. QR code, having the Invoice Reference Number (IRN) to be part of invoice copy issued to buyer.
4. In case of any contingency, Commissioner can exempt a person or a class of registered persons from e-invoicing for a specified period.
5. Where e-invoicing is applicable, physical copy of invoice need not be carried (during movement of goods) and it is sufficient if the QR code having IRN is produced electronically, for verification by proper officer.

Thanking you,