GSTN develops functionality for transfer of amount available in electronic cash ledger

GST Network (GSTN) on Tuesday said it has developed a new functionality on the portal through which taxpayers can now transfer amount available under one head to another in the electronic cash ledger. Form GST PMT-09 provides flexibility to taxpayers to make multiple transfers from more than one head (major or minor) to another head (major or minor) and helps with the intra-head or inter-head transfer of amount available in electronic cash ledger.

The ‘major’ heads are Central GST, State or Union Territory GST, Integrated GST and cess, whereas the ‘minor’ heads defined in the law are tax, interest, late fee, penalty and others. In a statement, GSTN said this new functionality on the GST portal is aimed at providing a major relief to taxpayers, especially at the time of the COVID-19 crisis when there is limited access to cash resources. “Thus, the taxpayers need not apply for refund for tax wrongly deposited under a particular head or deposit the amount in cash ledger again,” GSTN said.

CBIC allowed registered person under Co’s Act to file Form GSTR-3B through EVC

CBIC vide Notification No. 38/2020 – Central Tax dated May 05, 2020, which makes further amendments in the Central Goods and Services Tax Rules, 2017. The following are the amendments made under the rules are as under:-

1. In rule 26(1) i.e. Method of Authentication, after the provision of sub-rule 1, the following proviso has been inserted are as:- Provided further that a registered person registered under the provisions of the Companies Act, 2013 (18 of 2013) shall, during the period from the 21st day of April 2020 to the 30th day of June 2020, also be allowed to furnish the return under section 39 in FORM GSTR-3B verified through electronic verification code (EVC). Therefore, the registered person registered under Companies Act, 2013 is allowed to file the Form GSTR-3B during the period April 21, 2020 to June 30, 2020, through electronic verification code (EVC). This provision is effective from April 21, 2020.

2. After rule 67, a new rule 67A i.e. Manner of furnishing of return by short messaging service facility is inserted in the following manner:-Notwithstanding anything contained in this Chapter, for a registered person who is required to furnish a Nil return under section 39 in FORM GSTR-3B for a tax period, any reference to electronic furnishing shall include the furnishing of the said return through a short messaging service using the registered mobile number and the said return shall be verified by a registered mobile number based One Time Password facility. Explanation. – For the purpose of this rule, a 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.

Therefore, a registered person can file the Nil Return under section 39 i.e. Form GSTR-3B through SMS from his registered mobile number, to be verified based on the OTP facility. This rule 67A will effect from a date to be notified later.

The notification can be accessed at: click here

Pre-GST CENVAT credit available till June-end revised

The Delhi High Court on Tuesday allowed taxpayers registered under Goods and Services Tax (GST) to claim accumulated CENVAT credit from pre-GST regime till June 30, 2020, and noted that the benefit of transitional credit will be applicable for three years (since launch of GST on July 1, 2017) which is the period mentioned in the limitation Act.

Under the GST Act, taxpayers were allowed to carry forward input tax credits from excise and service tax regime by filing TRAN-1 form. Although the original deadline expired in September, 2017 the government granted several extensions till December 27, 2017. Further, taxpayers who couldn’t file the claim due to technical glitch in the system were allowed to do so till March 31, 2020.

CBIC further extends the due date for filing Annual Return for F.Y 2018-19 till September 30, 2020

CBIC vide Notification No. 41/2020 – Central Tax Dated May 05, 2020 which further extends the time limit for furnishing of the Annual Return i.e. Form GSTR-9, specified under section 44 of the CGST Act, 2017 read with rule 80 of the CGST Rules, 2017, electronically through the common portal, for the Financial Year 2018-2019 till September 30, 2020.

The notification can be accessed at:click here