New Relief from GST Compliaces.

In the economic breakdown due to Covid-19, the Modi Sarkar again comes up with measures to provide some relief from GST compliances. On 5th May 2020, CBIC issued 5 new notifications to provide some relief to taxpayers. In this article we are summarising all the 5 notifications in a simple manner:-

1. EVC Verification for Companies:-

• Earlier Digital Signature (DSC) was mandatory for Companies to file GSTR-3B. For taxpayers other than Companies (ie.individuals/firm) digital signature is OPTIONAL to file GSTR from the inception of GST in India.
• Now, the government has made Digital Signature optional for the COMPANIES to file GSTR-3B during the period between 21st April 2020 to 30th June 2020. So companies can file the return (only GSTR-3B) through Electronic Verification Code (EVC) as well.
• In EVC mode the taxpayer gets an OTP on its registered email and mobile number and that OTP is further used to file GSTR-3B.
• Read Notification No. 38/2020 – Central Tax.

2. Return filing through SMS:-

• A big surprise for the taxpayer, now they can furnish their nil return GSTR-3B through a short messaging service (SMS)
• The SMS based return can be filed only through the registered mobile number of the registered person and the said return shall be verified by a registered mobile number based OTP facility.
• The effective date of its implication is NOT notified yet.
• The government further clarified that the Nil return shall mean a return under section 39 for a tax period that has nil or no entry in all the Tables in FORM GSTR-3B
• Read Notification No. 38/2020 – Central Tax.

3. Amendments for Corporate Debtor under IBC.

• The Insolvency resolution professional can obtain registration within 30 days of its appointment or by 30th June 2020 whichever is later.
• If the corporate debtor has filed all prior GSTR-1 and GSTR-3B then insolvency resolution professional need not required to take fresh registration.
• Read  Notification No. 39/2020 – Central Tax 

4. The validity of E-way Bill:-

• This is for an e-way bill that is generated on or before 24th March 2020 and its validity expires between 20th March 2020 to 15th April 2020.
• The validity of such an e-way bill have been extended till the 31st of May 2020.
• Refer Notification No. 40/2020 – Central Tax  
• Read more about the e-way bill on Electronic Way Bill (E-Way Bill) Simplified 

5. GSTR-9 & GSTR- 9C:-:

• The due date of GST Annual Return GSTR-9 and Statement of reconciliation  GSTR-9C for the financial year2018-19 is again extended to 30th September 2020.
• Earlier it was extended to 30th June 2020.
• Read Notification No. 41/2020 – Central Tax

6. GSTR-3B Extension for the Union territory: Ladakh:-:-

• The GSTR-3B for the months of January 2020 to March 2020 for registered persons whose principal place of business is in the Union territory of Ladakh, can be furnished electronically up to on or before the 20th of May 2020.
• Read Notification No. 42/2020 – Central Tax

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[Disclaimer:-This article is being furnished for informational purposes only. We make every effort to use reliable & comprehensive information, but we do not represent that the contents of the article are accurate or complete.]