08/01/2021
GST Update Part 2
5. QRMP GSTR 3B Quarterly filers shall not be allowed to file GSTR 1 or IFF (Invoice Furnishing facility) if they have not furnished GSTR 3B return for the previous tax period.
6. Where the Value of Taxable supply (Taxable Value) (Sale) exceeds 50 lakhs (excluding Exempt and Zero rated) then a maximum of 99% of ITC can be utilised to set off the output liability and 1% of liability is to be paid by Cash only. (W.E.F. 01/01/2021)
The above is not applicable only in case
a. GSTN number is of Government department/PSU/Local authority/Statutory Body)
b. Proprietor/Partner of a firm/Director have paid more than 1,00,000 as Income Tax for the past 2 financial years.
c. GSTN has received refund of more than 1,00,000 in the Preceding Financial year due to unutilised ITC
d. GSTN has already paid more than 1% tax via Cash ledger for the Financial year under review.
e. Commissioner of GST if he thinks it is fit for the case
7 E- invoicing data will be available in GSTR 1 in T+3 days .For ex- Invoices uploaded
on 18/03/2021 will be available in GSTR 1 on 21/03/2021. Similarly GSTR
2A/2B/4A/6A will be auto populated.This auto population will be based on ,
“Document Date” (Invoice date).
Scenario - March 30 2021 Document date is reported to IRP on 04th April 2021. In
case if the GSTR 1 for March is in “Not filed” state then values will get automatically
reported in GSTR 1 for March 2021 on T+3 days i.e. by 07th April 2021. However in
case if GSTR 1 is filed on or before 07th April 2021 in that case these documents will be available in a Consolidated excel file which will be available in GSTN dashboard with Error description “Return already filed” .The taxpayer in this case will be required to take necessary actions.
There will be certain cases when E- invoicing data will not be auto populated in GSTR 1
•Supplier is found to be of type ISD/NRTP/TCS/TDS;
•Supplier is found to be composition taxpayer for that tax period;
•Document date is prior to Supplier’s/Recipient’s effective date of registration;
•Document date is after Supplier’s/Recipient’s effective date of cancellation of registration;
•Invoices reported as attracting “IGST on Intra-state supply” but without reverse charge;
There will be certain validations which every taxpayer is required to follow while using E-invoicing
•Serial number of items shall not be reported as ‘0’.For ex- 01shall be reported as 1
•White space should not be there in POS (Place of Supply State Code), e.g. “8 ” .
Expected values will be 08 and 8.
(Autopopulation of E- Invoicing data in GSTR 1 is a facility given to taxpayers. However taxpayers are required to verify the details before filing GSTR 1)
IFF facility (Invoice Furnishing Facility)
This facility has been granted to the taxpayers under QRMP Scheme where the taxpayers can file the details of (B2B/CDN/Amendments to B2B and CDN) in the first 2 months (M1 and M2). This facility of uploading and filing of the above details will be available to the users till 13th of next month . Any invoices remaining can either be filed in the next month (M2) or can be shown under GSTR 1 Quarterly return.
Ex- For Jan- March 2021 quarter, assume ,M1 - January 2021 , M2 - February 2021 and M3- March 2021
All the (B2B/CDN/Amendments to B2B and CDN) details for Jan 2021 can be filed by the taxpayer till 13th February 2021 .
In case where the client forgets to file the data in IFF till 13th February then it will expire and he can show the same either in M2 or in GSTR 1 quarterly return .
All QRMP taxpayers, if they want the counterparty to claim ITC, are required to upload the invoices in IFF by 13th of next month so that counterparty GSTR 2A/2B is auto populated.
Records that have already been populated in IFF are not required to be filed again in GSTR 1
All the details saved in IFF can be edited/deleted using “Reset option”however once IFF is submitted/Filed details cannot be deleted
How to Navigate the IFF facility - Returns -Services-Return Dashboard-File returns
GST Registration related updates
Where the applicant has opted for Aadhar based GST registration, authentication shall be biometric based alongwith Photo of the concerned applicant.
In any other case (PAN based registration) , Biometric information , Photograph and KYC verified documents are must.
Where the applicant is not an “Individual” i.e. Partnership Firm/Company/LLP etc. the above details alongwith original copy of documents is required to be submitted to the Facilitation centre and then only application for registration shall be considered complete
Where the applicant is opting for PAN based GST registration , registration will be
granted within 30 days after physical verification of business place
Application for registration grant will be considered as approved if the concerned GST
officer fails to take any action post 30 days of submission of application.
Or
Within a period of 7 Working days from the date of receipt of any clarification , information or documents by the officer from the applicant
