A2Z TAXCORP LLP weekly GST Communique dated March 30, 2020

Important Notifications of the Week
• Procedure for persons whose principal place of business/ place of business was in the erstwhile Union territory of Daman and Diu
• CBIC Defers introduction of E-invoicing & QR code to October 1, 2020
• CBIC waives GSTR-1 for Persons who couldn’t opt for Composition Scheme
• CBIC Notifies Special Procedure to be followed by Corporate Debtors undergoing Insolvency Process
• Due Dates for GSTR-1, GSTR-3B & GSTR-7 extended for taxpayers whose principal place of business is in erstwhile State of J&K but now is in UT of J&K or the UT of Ladakh
• CBIC extends due date for filling GSTR 9 & 9C to June 30, 2020 for FY 18-19
• CBIC Issues Multiple Notifications regarding Aadhaar Authentication for Registration in GST
• Changes made for relaxation to MSMEs from furnishing FORM GSTR-9C vide amendment in the CGST Rules
• CBIC further extends the exemption from IGST and compensation cess to EOUs on imports till Mar 31, 2021
• Changes w.r.t. to reversal of ITC on capital goods vide amendment in the CGST Rules
• Changes w.r.t. sanctioning of refund vide amendment in the CGST Rules
• Changes w.r.t. recovery of refund for non-realization of proceeds on export of goods vide amendment in the CGST Rules
• Miscellaneous changes in GST vide amendment in the CGST Rules

Central Tax (Rate) Notifications
• CBIC amended the CGST rate of MRO services w.r.t. aircraft from 18% to 5% with full ITC
• CBIC amended Notification No. 1/2017-Central Tax (Rate) to prescribe change in CGST Rate of Goods viz. Mobile, Matches, etc.

Important Circulars of the Week
• Clarification issued for apportionment of ITC in cases of business reorganization viz. demerger, sales, etc.
• Clarification issued for corporate debtor to comply with GST Laws under Insolvency and Bankruptcy Code, 2016

Important Press Releases
• Finance Minister announces several relief measures relating to Statutory and Regulatory compliance matters across Sectors in view of COVID-19 outbreak
• DGFT issued Help desk number for COVID-19 w.r.t. Issues related to Export or Import

Videos of the week
• Analysis of Recent Announcements by FM–Due Date extension for filing GSTR-1/3B – Part 1 | CA Bimal Jain
• Analysis of Recent Amendments by FM – Composition Dealer, Annual Return, etc. – Part 2 | CA Bimal Jain


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