GST notification on quarterly GSTR 1, quarterly GSTR 3B is a reality and its various due dates

written by GST expert | November 12, 2020

The below mentioned amendment to GST rules shall come into force from 01.01.2021:

Notification 82/2020:

Below are the some important extracts of the notification. To read whole notification click on the link in the end of article.

Rule 59:

1. The registered persons required to furnish return for every quarter under proviso to sub-section (1) of section 39 (i.e. GSTR 3B) may furnish the details of such outward supplies of goods or services or both to a registered person, for the first and second months of a quarter, up to a cumulative value of fifty lakh rupees in each of the months, using invoice furnishing facility (hereafter in this notification referred to as the ―IFF) between 1 to 13th of the succeeding month.

2. Invoices mentioned in IFF is not required to be mentioned in GSTR 1.

Rule 60:

The details of outward supplies furnished by the supplier in FORM GSTR-1 or using the IFF shall be made available in Part A of FORM GSTR-2A, in FORM GSTR-4A and in FORM GSTR-6A of the recipients.

The details of tax collected at source furnished by an e-commerce operator under section 52 in FORM GSTR-8 shall be made available to the concerned person in Part C of FORM GSTR 2A.

Sub rule 6 to rule 61: Due date of GSTR 3B:

Now due date for people with turnover below 5 crore has been added in rule 61 as sub rule 6 wherein:

Normal due date for tax payer has been mentioned as 20th of succeeding month.

But proviso states that people in certain states with turnover below Rs. 5 crore can file their GSTR 3B till 22nd and 24th of the succeeding month for October 2020 to March 2021.

Rule 61 shall be substituted by below rule from 01.01.2021 (quarterly GSTR 3B now a reality):

Due date for people furnishing the monthly GSTR 3B shall be 20th of succeeding month.

Due date for people opting for quarterly GSTR 3B under proviso to sub section 1 of section 39 shall be 22nd and 24th of the succeeding month based on the state in which they have principal place of business.

Every person opting for quarterly GSTR 3B shall pay monthly tax for the first two month of the quarter using Form GST PMT-06 by the 25th of the succeeding month.

Provided also that while making a deposit in FORM GST PMT-06, such a registered person may–

(a) for the first month of the quarter, take into account the balance in the electronic cash ledger.

(b) for the second month of the quarter, take into account the balance in the electronic cash ledger excluding the tax due for the first month.

Any claim of refund of such amount lying in balance in the electronic cash ledger, if any, out of the amount so deposited shall be permitted only after the return in FORM GSTR-3B for the said quarter has been filed.

 

However the above rule is contradicting the insertion of sub rule 6 to rule 61 mentioned above wherein due date for GSTR 3B was mentioned. Further the extended due date of 22nd and 24th of GSTR 3B shall only be available for quarterly GSTR 3B filers and not for monthly GSTR 3B filers.

Insertion of rule 61A: Manner of opting for quarterly GSTR 3B

As recommended by GST council in its 42nd meeting, quarterly filing of GSTR 3B is now a reality.

Every registered person shall indicate his preference for furnishing of return on a quarterly basis, electronically, on the common portal, from the 1st day of the second month of the preceding quarter till the last day of the first month of the quarter for which the option is being exercised.

Provided that where such option has been exercised once, the said registered person shall continue to furnish the return on a quarterly basis for future tax periods, unless the said registered person,–

(a) becomes ineligible for furnishing the return on a quarterly basis as per the conditions and restrictions notified in this regard; or

(b) opts for furnishing of return on a monthly basis, electronically, on the common portal:

Provided further that a registered person shall not be eligible to opt for furnishing quarterly return in case the last return due on the date of exercising such option has not been furnished.

A registered person, whose aggregate turnover exceeds 5 crore rupees during the current financial year, shall opt for furnishing of return on a monthly basis, electronically, on the common portal, from the first month of the quarter, succeeding the quarter during which his aggregate turnover exceeds 5 crore rupees.

 

Mentioning HSN code now mandatory:

In FORM GSTR-1, in the Instructions, after serial number 17, the following instruction shall be inserted, namely:-

―18. It will be mandatory to specify the number of digits of HSN code for goods or services that a class of registered persons shall be required to mention as may be specified in the notification issued from time to time under proviso to rule 46 of the said rules.

 

GSTR 2B has been introduced in GST rules.

 

That’s all for notification 82/2020

To download the notification CLICK HERE.