UPDATE IN TAXATION FOR THE WEEK 29TH JUNE TO 4TH JULY 2020

A. GOODS & SERVICES ACT

In this said week, the CBIC has issued various Notifications (Non-Tariff) giving effects of amendments, substitution, changes in the various provisions of the CGST Act, 2017. The Notification wise details are as under:

a. Notification No. 57/2020 CT dated 30-06-2020.

Vide said Notification; the Government has made amended Principal Notification No. 76/2018 CT dated 31st December 2018 (foe waiver of Late Fees) and has added following two provisions.

Proviso	Explanation/Remarks (Having effect in the CGST Act, 2017)
4th	The Principal Notification which was amended by Notification No. 52/2020 CT dated 24th June 2020 under which Deferred Due Dates for various class of Registered Persons were declared for filing of GSTR-3B Returns (Refer this Office Weekly Update 22nd June to 27th June 2020), this present Notification limits Late Fee of Rs. 250/- and WAIVES excess fees if such Returns filed on or before 30th September 2020 IF TAX Liability is NIL (For Registered Person having Aggregate Turnover less than Rs. 5 Crores in preceding F. Y.) for the Period February 2020 to July 2020.
5th	For Registered Person having Turnover Rs. 5 Crores and above for the preceding F. Y., this Late Fee and waiver is applicable only for months of May to July 2020, if such Returns filed on or before 30th September 2020 IF TAX Liability is NIL

b. Notification No. 58/2020 CT dated 01-07-2020

This Notification is Eighth Amendment to the CGST Rules, 2017 whereby Rule 67A of the CGST Rules, 2017 is further amended and facility of Returns via SMS is extended to GSTR-1 Returns if all columns or entries in such Returns is NIL or NO. The procedure of filing Returns via SMS is identical to GSTR-3B and is again explained as under:

If a Registered Person has all entries in the columns of GSTR-1 as NIL or NO, then by way SMS from Registered Mobile, GSTR-3B can be filed.

The following type of SMS is required to be sent to 14409 NIL space<Return Type>space<GSTIN> space<Return Period> For example:

NIL 1 27XXXXX0000X1234 062020

On receipt of OTP the following SMS to be sent on 14409 with verification code, such as CNF 1 OTP

Please note such OTP is for SINGLE USE only.

This Provision is made effective from 1st July 2020.

B. CUSTOMS

a. Circular 31/2020 Customs dated 30-06-2020 (F. No.: D- 20/DIC/AEO/16/207)

This circular extended Renewal Date of Authorised Economic Operators (AEOs) (Tier I, II, III) to 30th September 2020 where expiry or renewal was between 01st March 2020 to 30th September 2020.

C. IMPORT-EXPORT RELATED – DGFT

a. Notification No. 16/2015-2020 dated 29-06-2020. 

This Notification amends earlier Notification 14 dated 22-06-2020 amended following entry under RESTRICTED Category from PROHIBITED with following condition.

Sr No in Schedule	ITC HS Code	Description
207A	392690 621790 630790 901890	PPE Coveralls for Covid-19 Condition:   Monthly   Export   Quota   50Lakh   PPE Medical Coveralls)

b. Public Notice No. 11/2015-2020 dated 30th June 2020

Extends validity of Recognition of the Pre-Shipment Agencies (Appendix 2G and A & ANF) is extended to 30-09-2020 whose original or extended tenure completed on or before 30th June 2020.