Latest & Significant Updates in GST by Adv.

Dear All,

Recently, the Government has issued various notifications to bring certain amendments in GST Law effective from 01.01.2021 onwards. Gist of such latest and significant amendments are briefed in “GST updates” attached with this blog which covers the following amendments:

  1. Due dates notified for filing Monthly GSTR-3B under section 39(1)
  2. Due dates notified for filing GSTR-1
  3. Amended number of digits of HSN Codes to be mentioned on Invoice w.e.f 01.04.2021
  4. E-invoicing made compulsory for taxpayers having aggregate turnover exceeding 100 crores
  5. Option to file GSTR-3B Quarterly with Monthly Payment of Tax (“QRMP” Scheme) for taxpayers having aggregate turnover of upto 5 crores
  6. Introduced New Form “GSTR-2B” to provide the details of available Input Tax Credit (ITC) in a month
  7. New Invoice furnishing facility (IFF) provided for Quarterly return filers
  8. Waiver of Penalty for non-compliance of QR Code on B2C invoices up to 31.03.2021
  9. Restriction of Generation of E-Way Bill made applicable to all Return Defaulters irrespective of aggregate turnover w.e.f 01.12.2020
  10. Furnishing of Nil GSTR-3B, Nil GSTR-1 or Nil GSTR CMP-08 by SMS facility


Read the Complete GST Updates at :GST Updates-12th December 2020

GST Law India is a blog on GST and allied commercial laws managed by members of the law firm ALA Legal.