All the below notification will be made effective from 01.01.2021
This notification seeks to amend notification 74/2020 and 75/2020, and hereby extends due date for filing GSTR 1, for those who have opted for filing of quarterly return u/s 39(1) (i.e. GSTR 3B quarterly), till 13th of the month succeeding tax period.
Thus, those who are opting quarterly return shall now file GSTR 1 till 13th of the next month.
This notification will be effective from 01.01.2021.
This notification is applicable to all registered person except those registered under section 14 of IGST act (i.e. Special provision for payment of tax by supplier of online information and database access or retrieval services (OIDAR)) having an aggregate turnover of upto Rs. 5 crore and who have opted for quarterly return shall for every quarter from January 2021.
For the registered person falling in the class specified in column (2) of the Table below, who have furnished the return for the tax period October, 2020 on or before 30th November, 2020, it shall be deemed that they have opted under sub-rule (1) of rule 61A of the said rules for the monthly or quarterly furnishing of return as mentioned in column (3) of the said Table:-
|Sl. No.||Class of registered person||Deemed Option|
|1.||Registered persons having aggregate turnover of up to 1.5 crore rupees, who have furnished FORM GSTR-1 on quarterly basis in the current financial year||Quarterly return|
|2.||Registered persons having aggregate turnover of up to 1.5 crore rupees, who have furnished FORM GSTR-1 on monthly basis in the current financial year||Monthly return|
|3.||Registered persons having aggregate turnover more than 1.5 crore rupees and up to 5 crore rupees in the preceding financial year||Quarterly return|
The registered persons referred to in column (2) of the said Table, may change the default option electronically, on the common portal, during the period from the 5th day of December, 2020 to the 31st day of January, 2021.
Notification 85/2020: Payment of tax for quarterly GSTR 3B
The person who has opted for quarterly filing GSTR 3B on quarterly basis shall deposit the following amount in electronic cash ledger:
1. thirty five per cent. of the tax liability paid by debiting the electronic cash ledger in the return for the preceding quarter where the return is furnished quarterly. or
2. the tax liability paid by debiting the electronic cash ledger in the return for the last month of the immediately preceding quarter where the return is furnished monthly.
Provided that no such amount is required to be deposited:
where tax liability is nil or electronic cash ledger/ electronic credit ledger has sufficient balance.
Provided further that registered person shall not be eligible for the said special procedure unless he has furnished the return for a complete tax period preceding such month.
This notification seeks to revoke/ cancel notification 76/2020 which recommended the due date for GSTR 3B for the period October 2020 to March 2021.
To download the notification CLICK HERE.