GST - October 2020 Updates

 GST - October 2020 Updates

Rule – 59

Invoice furnishing facility for quarterly return filers– less than 50 lakhs TO in each month - first and second month in IFF and third month in GSTR -1

Rule – 60

Inward supplied to be looked at from GSTR 2A on monthly basis – On quarterly basis GSTR 2B will be available for confirmation

Rule – 61

GSTR 3B filing dates – 22^nd for some states and 24^th for other states

GSTR 3B for ISD – 20^th

Rule 61-A

Quarterly return filing needs to indicate their preference – else not eligible for quarterly return

Rule 39(1)

GSTR 1 monthly return due date – 11^th of next month and quarterly return filers – 13^th

Rule 61A(1)

Up to 5 crores aggregate turnover – can opt for quarterly return from jan 21 – but should have filed all previous returns before such option – change the same between 5^th dec 20 to 31^st jan 21

Sec 39(7)

Quarterly return filers needs to pay 35% of tax paid in the last quarter

E- Invoice for 100 crores turnover effective 1^st jan 2021