{"id":1580,"date":"2021-01-22T07:31:10","date_gmt":"2021-01-22T07:31:10","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=1580"},"modified":"2023-03-30T06:34:31","modified_gmt":"2023-03-30T06:34:31","slug":"summary-of-gst-law-amendments-applicable-from-01-january-2021","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/","title":{"rendered":"Summary of GST Law Amendments Applicable from 01 January 2021"},"content":{"rendered":"\n<p class=\"has-drop-cap\">\u201cComing Out of Comfort Zone\u201d, this could be the best name for the Financial Year 2020. In this year, we have seen a series on amendments in each law, starting from Companies Act 2013, Finance Act to GST Law. The key GST Law Amendments include E-Invoicing, Implementation of QRMP Scheme, GSTR 2B, Changes in GST Returns, New Process to obtain GST Registration, Auto population of GSTR 3B, etc.<\/p>\n\n\n\n<p>However, recently, by way of\nNotifications 92\/ 2020 and 94\/ 2020, dated 22.12.2020 each, CBIC has introduced\ncertain amendments which will affect the provisions of GST Law.<\/p>\n\n\n\n<p>Further, the Notification No 94\/ 2020, dated 22.12.2020 deals with the amendments specifically made in GST Law. But the Notification No 92\/ 2020, dated 22.12.2020 deals with the amendments made in Finance Act 2020, which will have an impact of GST Law as well.<\/p>\n\n\n\n<p>In this blog, we will discuss in detail\nabout the GST Law Amendments made by way of Notifications 92\/ 2020 and 94\/\n2020. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a54bf8430d2e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a54bf8430d2e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#GST_Law_Amendments_by_way_of_Notification_No_94_2020\" title=\"GST Law Amendments by way of\nNotification No 94\/ 2020\">GST Law Amendments by way of\nNotification No 94\/ 2020<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Restriction_on_claiming_more_than_5_ITC_on_Missed_Invoices\" title=\"Restriction on claiming more than\n5% ITC on Missed Invoices\">Restriction on claiming more than\n5% ITC on Missed Invoices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Mandatory_Payment_of_1_Tax_by_Cash\" title=\"Mandatory Payment of 1% Tax by Cash\">Mandatory Payment of 1% Tax by Cash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Cancellation_of_GST_Registration\" title=\"Cancellation of GST Registration\">Cancellation of GST Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Provisions_concerning_New_GST_Registration\" title=\"Provisions concerning New GST\nRegistration\">Provisions concerning New GST\nRegistration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Restriction_in_Filing_Form_GSTR_1\" title=\"Restriction in Filing Form GSTR 1\">Restriction in Filing Form GSTR 1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Reduction_in_the_Validity_of_E_way_Bill\" title=\"Reduction in the Validity of E way\nBill\">Reduction in the Validity of E way\nBill<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Link_to_Official_Notification_passed_by_CBIC1\" title=\"Link to Official Notification passed by CBIC[1]\">Link to Official Notification passed by CBIC[1]<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#GST_Law_Amendments_by_way_of_Notification_No_922020\" title=\"GST Law Amendments by way of Notification No 92\/2020\">GST Law Amendments by way of Notification No 92\/2020<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Composition_under_GST_Law\" title=\"Composition under GST Law\">Composition under GST Law<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#ITC_on_Debit_Note\" title=\"ITC on Debit Note\">ITC on Debit Note<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Suspension_of_Voluntary_Registration\" title=\"Suspension of Voluntary\nRegistration\">Suspension of Voluntary\nRegistration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Extension_for_Filing_the_Application_for_Revocation\" title=\"Extension for Filing the Application\nfor Revocation\">Extension for Filing the Application\nfor Revocation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Tax_Invoice_concerning_Supply_of_Services\" title=\"Tax Invoice concerning Supply of\nServices\">Tax Invoice concerning Supply of\nServices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Issuance_of_TDS_Certificate\" title=\"Issuance of TDS Certificate\">Issuance of TDS Certificate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Beneficiaries_of_Fake_Invoicing\" title=\"Beneficiaries of Fake Invoicing\">Beneficiaries of Fake Invoicing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Paragraph_4_of_Schedule_II\" title=\"Paragraph 4 of Schedule\nII\">Paragraph 4 of Schedule\nII<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Link_to_Official_Notification_passed_by_CBIC2\" title=\"Link to Official Notification passed by CBIC[2]\">Link to Official Notification passed by CBIC[2]<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#GST_Compliance_Calendar_for_January_2021\" title=\"GST Compliance Calendar for January\n2021\">GST Compliance Calendar for January\n2021<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/swaritadvisors.com\/blog\/summary-of-gst-law-amendments-applicable-from-01-january-2021\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_Law_Amendments_by_way_of_Notification_No_94_2020\"><\/span>GST Law Amendments by way of\nNotification No 94\/ 2020<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The 6 GST Law Amendments made by CBIC\n(Central Board of Indirect Taxes and Customs) by way of Notification No 94\/\n2020 are as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Restriction_on_claiming_more_than_5_ITC_on_Missed_Invoices\"><\/span>Restriction on claiming more than\n5% ITC on Missed Invoices<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>CBIC by way of Notification No 94\/ 2020\nhas amended the provisions of Rule 36 (4) of the Central Goods and Services Tax\n(Fourteen Amendment) Rules 2020. Further, as per the amendment made, a\nregistered person is eligible to claim only 5% ITC (Input Tax Credit) for the\ninvoices or debit notes furnished by suppliers. Earlier, the said limit was\nfixed at 10%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mandatory_Payment_of_1_Tax_by_Cash\"><\/span>Mandatory Payment of 1% Tax by Cash<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A new rule 86 B has been introduced by CBIC in the Central Goods and Services Tax (Fourteen Amendment) Rules 2020. This particular rule states that a registered taxpayer is not eligible to discharge off his\/her liability in excess of 99% by utilising ITC (Input Tax Credit). That means in such a case, the taxpayer needs to pay off his\/ her 1% liability only by way of cash.<\/p>\n\n\n\n<p>However, such a restriction is applicable to only in those cases where the total value of the taxable supply (other than zero-rated supply and exempt supply) is more than Rs 50 lakhs.<\/p>\n\n\n\n<p>Also, there are some exceptions to this\nrule, which are as follows:<\/p>\n\n\n\n<ol><li>If\nin case the said person is either of the following mentioned and has paid more\nthan Rs 1 lakh as income tax for the last two financial years for which the\nperiod to file the return has expired:<\/li><li>Sole\nProprietor;<\/li><li>Karta;<\/li><li>Managing\nDirector (MD);<\/li><li>Partner;<\/li><li>Whole\ntime Director;<\/li><li>Members\nof Managing Committee of Trust; or<\/li><li>Members\nof Managing Committee of Associations;<\/li><li>In\ncase the registered taxpayer has received a refund of more than Rs 1 lakh in\nthe previous financial year. Such a refund must be in regard to the unutilized\nITC on zero rated supplies, i.e., exports + SEZ;<\/li><li>In\ncase the registered taxpayer has received a refund of more than Rs 1 lakh in\nthe previous financial year. Such a refund must be in regard to the unutilized\nITC on Inverted Rate&nbsp; Structure;<\/li><li>If\nthe registered person has paid off his\/ her liability by way of electronic cash\nledger for an amount of more than 1% of the total liability in the current\nfinancial year;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cancellation_of_GST_Registration\"><\/span>Cancellation of GST Registration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>CBIC has amended the provisions of Rule 21 of the Central Goods and Services Tax (Fourteen Amendment) Rules 2020. Now, as per the amended provision, <strong><a href=\"https:\/\/swaritadvisors.com\/gst-registration\" class=\"text-primary\">GST Registration<\/a><\/strong> of a person can be cancelled in situations as follows:<\/p>\n\n\n\n<ol><li>If in case he\/she avails of ITC in violation of the provisions of section 16;<\/li><li>If in case he\/she furnishes the details of outward supplies in Form GSTR 1 for more than one tax periods, which is in excess of the total outward supplies declared by him\/ her in Form GSTR 3B for the said tax period;<\/li><li>In case he\/she violates the provisions of Rule 86 B;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Provisions_concerning_New_GST_Registration\"><\/span>Provisions concerning New GST\nRegistration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>CBIC has amended the provisions of Rule\n8 and 9 to provide for the \u201cBiometric Verification\u201d for the applicants for New\nGST Registration. Moreover, the period for granting GST Registration has been\nincreased from 3 to 7 days. <\/p>\n\n\n\n<p>However, if in case a person fails to\nundergo the required Biometric Verification, then, in that case, the\nregistration will be granted for a tenure of 30 days instead of 7 days.\nFurther, a similar process will be applicable to the additional place of\nbusiness.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Restriction_in_Filing_Form_GSTR_1\"><\/span>Restriction in Filing Form GSTR 1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>CBIC has amended the provisions of Rule\n59 to not allow a taxpayer to file Form GSTR 1 in either of the cases as\nfollows:<\/p>\n\n\n\n<ol><li>If he\/she has not filed the <strong><a href=\"https:\/\/swaritadvisors.com\/gst-return-filing\" class=\"text-primary\">GST Return<\/a><\/strong> in Form GSTR 3B for the previous two months;<\/li><li>If he\/she has not filed the GST Return in Form GSTR 3B for the previous tax period;<\/li><li>If he\/she requires to pay off 1% of the total liability by cash and has not submitted the return in Form GSTR 3B for the previous tax period;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reduction_in_the_Validity_of_E_way_Bill\"><\/span>Reduction in the Validity of E way\nBill<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This amendment deals with the\ncurtailment of travel time by 50%. That means as per the new e-way bill\nprovision, now only one day validity will be granted to cover a distance of 200\nkm, which was earlier fixed at 100 km.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Link_to_Official_Notification_passed_by_CBIC1\"><\/span>Link to Official Notification passed by CBIC<sup><a href=\"https:\/\/taxinformation.cbic.gov.in\/content-page\/explore-notification\" class=\"text-primary\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_Law_Amendments_by_way_of_Notification_No_922020\"><\/span>GST Law Amendments by way of Notification No 92\/2020<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The key amendments made in the Finance\nAct 2020, which will have an impact on GST Law as well are as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Composition_under_GST_Law\"><\/span>Composition under GST Law<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The main reason behind the amendment of\nthe provisions of section 10 (2) of the CGST Act 2017 was to provide that a\nperson who is seeking registration under GST Composition Scheme must not be\nengaged in the supply of any activity or service on which tax is not leviable,\nor in any interstate outward supplies, or in making supplies by way of\nelectronic commerce operator (who needs to collect TCS).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ITC_on_Debit_Note\"><\/span>ITC on Debit Note<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>By way of this\nnotification, CBIC delinks the availment of ITC (Input Tax Credit) on debit\nnotes with the issuance date of the original invoice. Therefore, it shall be\nrelevant to note that the ITC on debit notes which are issued after 6 months\nfrom the end of the fiscal year to which invoice relates can be availed post\namendment as well.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Suspension_of_Voluntary_Registration\"><\/span>Suspension of Voluntary\nRegistration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>CBIC has amended the provisions of\nsection 29 (1) of the CGST Act 2017 to provide that a person who has obtained\nvoluntary registration is eligible to opt for the cancellation of such\nregistration as well. However, the same is possible only if the said person\ndoes require mandatory registration under either of the sections as follows:<\/p>\n\n\n\n<ol><li>Under\nsection 22 (on crossing the set threshold);<\/li><li>Under\nsection 24 (cases which require compulsory registration);<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Extension_for_Filing_the_Application_for_Revocation\"><\/span>Extension for Filing the Application\nfor Revocation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The reason behind the amendment in\nsection 30 (1) of the CGST Act 2017 is to provide that the Additional or Joint\nCommissioner can extend the time limit for filing the revocation application by\n30 days, if the taxpayer is able to provide a sufficient cause for delay.\nFurther, the commissioner has the power to extend to the said limit by further\n30 days. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Invoice_concerning_Supply_of_Services\"><\/span>Tax Invoice concerning Supply of\nServices<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As per the amended section 31 (2) of the\nCGST Act 2017, the government will have the power in respect of the categories\nof supplies or services to which a tax invoice will be issued. Further, the\ngovernment will have the power with regard to the time limit and manner within\nwhich such an invoice will be issued.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Issuance_of_TDS_Certificate\"><\/span>Issuance of TDS Certificate<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The provisions dealing with the issuance\nof TDS Certificate and its consequences will now be regulated by the delegated\nlegislation, i.e., by way of rules. Therefore, the said provisions are being\nomitted form the Finance Act 2020.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beneficiaries_of_Fake_Invoicing\"><\/span>Beneficiaries of Fake Invoicing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A new sub section (IA) has been\nintroduced under the provisions of section 122. As per this sub section, any\nperson who retains profits in either of the following transactions shall be\nheld liable to pay an amount which will be equivalent to the amount of tax\nevaded or ITC (Input Tax Credit) availed of or passed on:<\/p>\n\n\n\n<ol><li>If in case he\/she supplies any good or service without the issuance of invoice or issues an incorrect invoice with respect to such a supply;<\/li><li>If in case he\/she issues an invoice or bill without a valid supply of good or service or violates the provisions of the prescribed rules or act;<\/li><li>Utilizes or takes ITC (Input Tax Credit) without the actual receipt of goods or service or both, either partially or fully, in violation of the provisions of the Act or rules made thereunder;<\/li><li>Takes or distributes ITC in violation of the provisions of section 20 of the Act or the rules made thereunder;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Paragraph_4_of_Schedule_II\"><\/span>Paragraph 4 of Schedule\nII<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Normally, schedule II is just a\nclassification and does not conclude whether a said transaction will be\nconsidered as supply or not. Further, paragraph 4 of the schedule II states\nthat the transfer or disposal of those goods that are not forming part of the\nbusiness assets will be deemed as supply of good, even though such a transfer\nor disposal is for consideration or not. <\/p>\n\n\n\n<p>In the same manner, if the goods that\nwere kept for the business purpose are put into any private use or made\navailable to any person for an use other than business, then, in that case,\nsuch usage will be treated as supply of services, even though such is without\nany consideration.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Link_to_Official_Notification_passed_by_CBIC2\"><\/span>Link to Official Notification passed by CBIC<sup><a href=\"https:\/\/www.cbic.gov.in\/\" class=\"text-primary\"><strong><em>[2]<\/em><\/strong><\/a><\/sup><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_Compliance_Calendar_for_January_2021\"><\/span>GST Compliance Calendar for January\n2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The GST Compliance Calendar for the month of January 2021 can be summarized as:<\/p>\n\n\n\n<table width=\"100%\">\n<tbody>\n<tr>\n<td width=\"21%\">\n<p><strong>Due Date of Filing<\/strong><\/p>\n<\/td>\n<td width=\"29%\">\n<p><strong>Return or Compliance<\/strong><\/p>\n<\/td>\n<td width=\"49%\">\n<p><strong>Remarks<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>31.12.2020<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR 9 or 9C (F.Y.2018 to 2019)<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Last Date for GST Audit and Annual Return<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>31.12.2020<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR 9A<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Annual Return for the Composition Taxpayers<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>07.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) Payment- IT<\/p>\n<\/td>\n<td width=\"49%\">\n<p>The Due date for the Payment of TDS or TCS for the month of October 2020<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>11.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR1 (for the month of October 2020)<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Return of Outward Supplies in Monthly Return<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>12.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR 2B (for the month of October 2020)<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Auto Drafted ITC (Input Tax Credit) Statement available for download<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>15.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>TCS Return- IT<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Quarterly TCS Return under the Income Tax<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>20.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR3B (for the month of October 2020)<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Last Date for making Payment of Tax and Return by the taxpayers who are having an Annual Turnover of more than Rs 5 crores<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>22.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR3B (for the month of October 2020)<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Last Date for making Payment of Tax and Return by the taxpayers who are having an Annual Turnover of less than Rs 5 croresand having Principal Place of business in either of the following:<\/p>\n<p>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chhattisgarh;<\/p>\n<p>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madhya Pradesh;<\/p>\n<p>c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gujarat;<\/p>\n<p>d)&nbsp;&nbsp;&nbsp;&nbsp; Daman and Diu;<\/p>\n<p>e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dadra and Nagar Haveli;<\/p>\n<p>f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maharashtra;<\/p>\n<p>g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karnataka;<\/p>\n<p>h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goa;<\/p>\n<p>i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakshadweep;<\/p>\n<p>j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kerala;<\/p>\n<p>k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tamil Nadu;<\/p>\n<p>l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puducherry;<\/p>\n<p>m)&nbsp;&nbsp;&nbsp; Andaman and Nicobar Islands;<\/p>\n<p>n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telangana; and<\/p>\n<p>o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andhra Pradesh;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>24.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>GSTR3B (for the month of October 2020)<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Last Date for making Payment of Tax and Return by the taxpayers who are having an Annual Turnover of less than Rs 5 croresand having Principal Place of business in either of the following:<\/p>\n<p>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jammu and Kashmir;<\/p>\n<p>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laddakh;<\/p>\n<p>c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Himachal Pradesh;<\/p>\n<p>d)&nbsp;&nbsp;&nbsp;&nbsp; Punjab;<\/p>\n<p>e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chandigarh;&nbsp;<\/p>\n<p>f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uttarakhand;<\/p>\n<p>g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Haryana;&nbsp;<\/p>\n<p>h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Delhi;<\/p>\n<p>i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rajasthan;&nbsp;<\/p>\n<p>j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uttar Pradesh;<\/p>\n<p>k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bihar;<\/p>\n<p>l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sikkim;<\/p>\n<p>m)&nbsp;&nbsp;&nbsp; Arunachal Pradesh;<\/p>\n<p>n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nagaland;<\/p>\n<p>o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manipur;<\/p>\n<p>p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mizoram;<\/p>\n<p>q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tripura;<\/p>\n<p>r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meghalaya;<\/p>\n<p>s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assam;<\/p>\n<p>t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Bengal;<\/p>\n<p>u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jharkhand; and<\/p>\n<p>v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Odisha;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"21%\">\n<p>31.01.2021<\/p>\n<\/td>\n<td width=\"29%\">\n<p>TDS Return- IT<\/p>\n<\/td>\n<td width=\"49%\">\n<p>Quarterly TDS Return under the Income Tax<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, the main reason behind\nthe continuous amendments made by the authorities in the ambit of GST Law is to\ncurb and reduce the menace of fraudsters who benefits and pass on the available\nITC (Input Tax Credit) by the help of fake and fly-by firms.<\/p>\n\n\n\n<p>Further, in case of any other doubt or confusion concerning GST Law Amendments or any other related issue, reach out to <strong><a href=\"https:\/\/swaritadvisors.com\/\" class=\"text-primary\">Swarit Advisors<\/a><\/strong> or experienced and proficient CAs and CSS are there to cater to all your needs and queries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cComing Out of Comfort Zone\u201d, this could be the best name for the Financial Year 2020. In this year, we have seen a series on amendments in each law, starting from Companies Act 2013, Finance Act to GST Law. The key GST Law Amendments include E-Invoicing, Implementation of QRMP Scheme, GSTR 2B, Changes in GST [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[39,50],"tags":[281],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1580"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=1580"}],"version-history":[{"count":9,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1580\/revisions"}],"predecessor-version":[{"id":12746,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1580\/revisions\/12746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/1583"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=1580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=1580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=1580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}