NEW GST DATES AND AMENDMENT TO THE FILING ACCORDING TO STATES

1. GST UPDATES AS OF NOW

According to the recent decision taken at the 37th GST Council Meeting, the new GST return system for all taxpayers and for all forms will be implemented from April 2020.

A. GST DATES

Every state now have to pay the tax on monthly basis that is Tax will need to be paid on a monthly basis by all taxpayers.

i. The last date for filing GSTR-3B is 20th of every month. With the changes, there will three dates -- 20th, 22nd and 24th -- of every month for different categories of tax payers

ii. As we know the New GST Return System has been launched on a trial basis from July 2019, and the full-fledged system will be put into place from April 2020 (earlier: October 2019). This transition plan will be carried out in a phased manner. 

iii. The trial phase will be for taxpayers to make them familiar with the annexure forms of the new return system 

iv. As we know since December 2019, large taxpayers have started filing GST RET-01, the main return under the new return system  


2. AMENDMENT TO THE FILING ACCORDING TO THE STATES


A. Taxpayers with annual turnover is below Rs 5 crore in previous financial year

For 46 lakh taxpayers from the 22 States/UTs Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha will have their last date as 24th of every month.

The tax filers which are from 15 states/UTs -- Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh -- will have last date of filing GSTR-3B returns as 22nd of every month without late fees.

B. Taxpayers with annual turnover above Rs 5 crore in previous financial year 20 th of every month. 

3. ANEXURES

The new GST system consist of a single main return called the RET-1-Normal. There are also 2 other RETs RET-2-Sahaj or RET-3-Sugam. These return forms are backed by two annexures ANX-1 (for tax liability) and ANX-2 (for input tax credit). The annexures must be submitted by all kind of taxpayers and are action- oriented. The detailed information about the two is shown below :

1. FORM GST ANX-1 – It contains the details of all outward supplies, inward supplies on a reverse charge basis and import of goods and services to be reported invoice-wise (except for B2C supplies) on a real-time basis.

2. FORM GST ANX-2 – It contains the details of inward supplies. Recipient can accept or reject these documents, or mark them as pending, for action to be taken later. 

3. Normal return RET-1 – it is mainly for the taxpayers whose turnover is above 5 crores in the previous Financial Year.

4. SMALL TAXPAYERS

Taxpayers will be considered small if there turnover is up to 5 crores.

Being the Citizen of India and to support our nation financially it is the utmost duty of every citizen to make our country stable by fulfilling their duty at their end. And this can be done only by paying their tax on time and be honest towards our duties. Awareness should be generated regarding GST and their amendments to the filing according to every state in India. The tax should be paid before the 20th of every month so that no extra burden would be their further and to avoid complications in future because strict actions can be taken if found guilty.

INFOSYS HAS BEEN LOOKING UP FOR THIS PROJECT AND IT IS ESTIMATED THAT A TOTAL OF 65.65 LAKH GSTR-3B FORMS TAX MONTH OF DECEMBER WERE FILED BY JANUARY 20 AND MORE TO COME IN.

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