Tax Updates January 2020 – 02.01.2020
1. The GST council has decided to waive off late fee for defaulters, who failed to furnish details of their monthly and quarterly outward supplies from July 2017 to November 2019 if they furnish the details before 10th January 2020.
2. The government on 31st December 2019 has extended the ‘Sabka Vishwas’ dispute resolution and amnesty scheme for pre-GST era taxes by 15 days till January 15.
3. In 37th meeting of GST council which held on 20.09.2019 examined the request to place the supply of renting of motor vehicles under RCM and recommended that renting of motor vehicles supply when provided by suppliers paying GST @ 5% to corporate entities, may be placed under RCM.
4. In case of suppliers paying GST @12% with full ITC, RCM was not recommended so that they may have the option to avail ITC. Accordingly, the following entry was inserted in the RCM notification with effect from 1.10.19
5. GST revenue collection for December 2019 1,03,184 of Gross GST Revenue Collected In the Month Of December 2019.
6. The assessee against an impugned order filed writ petition stating that at present no Tribunal was functioning in State of Uttar Pradesh and prayed for fifteen days’ time to comply terms and conditions as provided under section 112, prayer made by the assessee was to be allowed; Thus,15 days time granted to comply with terms & conditions of filing appeal as no Appellate Tribunal was functioning;
7. The Hon’ble HC, Kerala in the matter of Jilmon John v. State of Kerala [WP(C). No. 27226 of 2018 dated March 20, 2019] held that the Petitioner is not entitled to any relief under the e-tender with the introduction of GST. Thus denies relief to the e-bidder where tax liability transitioned from VAT to GST.
8. In Kerala, HC ruled out that detaining of goods of assessee under transport and also vehicle on grounds that Form GSTR-3B had not been filed from June 2018 and Form GSTR-1 had not been filed from March 2019 was not justified.
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9. As per GST Network data average monthly GST payments in India by internet-based service providers including Netflix, Amazon Prime, Hotstar, Apple and Microsoft grew over 62% so far in the current fiscal compared with last year’s level.
10. In a NotificationNo. 28/2019 – CentralTax (Rate) Certain Services are exempted as recommended By GST Council.
In the notification, the figure“50”, at both the places where they occur, shall be substituted by the figure“20″ and for the entry in column (5), the following entries shall be substituted, namely, –
“Provided that the leased plots shall be used for the purpose for which they are allotted, that is, for industrial or financial activity in an industrial or financial business area: Provided further that the State Government concerned shall monitor & enforce the above condition as per the order issued by the State Government in this regard: Provided also that in case of any violation or subsequent change of use, due to any reason whatsoever, the original lessor, original lessee, as well as any subsequent lessee or buyer or owner, shall be jointly & severally liable to pay such amount of central tax, as would have been payable on the upfront amount charged for the long term lease of the plots but for the exemption contained herein, along with the applicable interest & penalty: Provided also”.
11. In a notification, No.29/2019-Central Tax) it was laid that RCM shall be applicable on the service by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration charged from the service recipient only if the supplier fulfills all the conditions as (a) is other than a body corporate;(b) does not issue an invoice charging GST @12% (6% CGST + 6% SGST) from the service recipient;(c) supplies the service to a body corporate.
12. Notification No. 01/2020–Central Tax dated 1st January 2020 appoints the 1st day of January 2020, as the date on which the provisions of sections 92 to 112, except section 92, 97, 100 and 103 to 110 of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force.
13. Notification No. 02/2020–Central Tax dated 1st January 2020 wherein CBIC prescribes schema for e-invoices under GST.
14. Notification No.03/2020-dated 1st January 2020 amended a Notification No. 62/2019–Central Tax, dated the 26th November 2019, Section 3, Sub-section (i) vide number G.S.R.879(E), dated the 26th November 2019, namely:–In the said notification,–(i) in paragraph 2, in clause (iii), for the figures, letters and words“30th October 2019” and “31st October 2019”, the figures, letters and words“31st day of December 2019” and “1st day of January 2020” shall respectively be substituted;(ii)in paragraph 3, for the figures, letters and words“31st day of October 2019”, the figures, letters and words“1st day of January 2020” shall be substituted.
Also See, “SEIS Refund from DGFT”
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