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TMI BlogGST: 2019 IN RETROSPECTX X X X Extracts X X X X X X X X Extracts X X X X ..... GST: 2019 IN RETROSPECT - By: - Dr. Sanjiv Agarwal - Goods and Services Tax - GST - Dated:- 3-1-2020 - - India economy is steadily slowing down amidst slower global economy and there is a dire need for urgent policy changes to ensure that slow down is checked and we are back on recovery path. It is time for the Government now to shift focus from politics to economics. As the Government prepares for Financial Year 2020-21 Union Budget to be presented next month, it is looking for all measures to reverse the down trend in economy. Based on indicators, it is optimistic on recovery and demand revival. It may take a GDP growth target of 6 to 6.5 percent. GST in India also rolls into its 31 st month (introduced w.e.f. 1 st July, 2017) sti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll struggling with attaining maturity, consistency and settlement of issues and procedural hiccups. Number of GST Council Meetings The GST Council had 38 meetings. In 2019, total 7 GST Council Meetings were held. GST Council Meetings in 2018 Held on 32 nd GST Council Meeting 10.01.2019 33 rd GST Council Meeting 24.02.2019 34 th GST Council Meeting 19.03.2019 35 th GST Council Meeting 21.06.2019 36 th GST Council Meeting 27.07.2019 37 th GST Council Mee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting 20.09.2019 38 st GST Council Meeting 18.12.2019 GST Collections Total GST Collections upto December, 2019 (Rs. in crores) Month 2017-18 2018-19 2019-20 April - 1,03,459 1,13,865 May - 94,016 1,00,289 June - 95,610 99,939 July 21,572 96,483 102083 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... August 95,633 93,960 98202 September 94,064 94,442 91916 October 93,333 1,00,710 95380 November 83,780 97,637 103492 December 84,314 94,726 103184 January 89,825 1,02,503 - February 85,962 97,247 - March ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 92,167 1,06,577 - Total 7,40,650 11,77,369 908350 Average 89,885 98,114 100927 Number of Notification issued in 2019 78 (CT) Number of Circulars issued in 2019 50 Number of Orders issued in 2019 2 Legislative Changes Finance Bill (No. 2), 2019 has got the assent of President on 1 st day of August , 2019 and is now the Finance Act, 2019 . Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 applicable from 01.09.2019 : The Sabka Vishwas (Legac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Dispute Resolution) Scheme, 2019,(SVLDRS) application made available online at https://cbic-gst.gov.in from 01.09.2019. The declaration under Section 125 of the Finance (No. 2) Act, 2019 can now be made electronically in Form SVLDRS-1 by the declarant. Scheme extended upto 15.01.2020. Major Landmark Events Constitution of State/Area benches of GSTAT and Extension of last date for filing appeal before GSTAT In terms of provisions of Section 109 of the CGST Act , GST Council recommended constitution of GST Appellate Tribunal and its benches in following states: Sl. No. Name of States/UT State Bench Area Bench ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Meghalaya Shillong No bench Mizoram Aizawl -do- Rajasthan Jaipur Jodhpur Karnataka ----- Two Area benches at Bengaluru Landmark Judgement on Transitional Credit The Punjab and Haryana High Court vide Order dated 04.11.2019 in CWP No.30949 of 2018(O M) = 2019 (11) TMI 282 - PUNJAB AND HARYANA HIGH COURT has directed Goods and Services (GST) Department to allow filing or revising Form TRAN-1 either electronically or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... manually. It held that, the due date contemplated under Rule 117 of the CGST Rules for the purposes of claiming transitional credit is procedural in nature and thus should not be construed as a mandatory provision . The Court also directed the Government / GST Department to permit the Petitioners to file or revise where already filed incorrect TRAN-1 either electronically or manually statutory Form(s) TRAN-1 on or before 30th November, 2019. Further, the Department will be at liberty to verify the genuineness of claim of Petitioners but nobody shall be denied to carry forward the legitimate claim of CENVAT / ITC on the ground of non-filing of TRAN-I by 27.12.2017. By this Order, 102 Petitions have been disposed off. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [Source : Adfert Technologies Pvt. Ltd. v. Union of India (Punjab Haryana) = 2019 (11) TMI 282 - PUNJAB AND HARYANA HIGH COURT ] Fully electronic refund process through GST RFD-1 and single disbursement In order to make the process of submission of the refund application electronic, Circular No. 79/53/2018-GST dated 31.12.2018 was issued wherein it was specified that the refund application in FORM GST RFD-01A , along with all supporting documents, shall be submitted electronically. However, various post submission stages of processing of the refund application continued to be manual. This Circular stipulate the modalities to be followed for all refund application filed in Form GST RFD-1 on common ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... portal w.e.f. 26.06.2019, i.e., in relation to: Refund forms Deficiency memos Scrutiny of applications Re-crediting of electronic credit ledger on account of rejection of refund claims Application for refund of IGST paid on export of services and supplies made to SEZ Disbursal of refunds Refund of unutilized input tax credit Refund of tax paid on deemed exports guidelines for refund claim of Compensation Cess Zero rated supplies Refund of transitional credit Restrictions under Rule 96(10) Calculation of refund amount for claims of refund of accumulated input tax credit on account of inverted duty structure refund of TDS / TCS deposited in excess Debit of elect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ronic credit ledger by using Form GST DRC-3 Refund of IGST paid on exports etc [Source: Circular No. 125/44/2019- GST dated 18.11.2019 ] Gearing up for a transition to the new return regime The regular filers of GSTR-1 and GSTR-3B will soon have to prepare themselves for yet another change. They will begin to submit ANX-1, take actions in ANX-2 and file RET-1/2/3 from April, 2020. The forms and procedure along with the trial version in offline utility had been made available in GST portal. Scope of Composition Scheme expanded The composition scheme was extended to service providers after a long row. A new composition scheme was introduced to service providers having an annual turnover of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... up to ₹ 50 lakhs only with a nominal tax payment on a turnover basis at 6%. The process of filing taxes under the scheme was further simplified with a single page form in CMP-08 since April 2019. In contrast, the return in GSTR-4 was pushed for annual compliance. Blocking of e-way bills for non-filing of GSTR-1 and 3B panicked businesses In order to encourage more filing of GSTR-1 and GSTR-3B returns among businesses, the GST Council took a bold step. It disabled taxpayers from generating e-way bill, in case of non-filing of two or more consecutive GSTR-3B on GST portal, by such taxpayers with effect from 1 December, 2019. E-Invoicing in GST The Central Government has recently clarified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide Notification No. 68/2019 Central Tax dated 13.12.2019 so as to provide change in the mechanism to issue tax invoice. The manner of issuance of invoice has been changed for such persons. The taxpayers are required to generate an Invoice Reference number (IRN) from the e-way bill portal by uploading an invoice in Form GST INV- 01 . This will be valid for a period of 30 days and can be used instead of a physical tax invoice. The IRN can replace the physical copy of the invoice and reduce the burden of carrying a physical invoice by transporters. These provisions shall come into force w.e.f. 01.04.2020. The provisions are applicable for registered persons, whose aggregate turnover in a financial year exceeds one hundred crore rupees. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GST, as a tax law with widest ramifications from any tax law in India, was introduced with much hopes on reforms and ease of doing business front but has somehow not been able to meet that end. All stakeholders still struggle to pay tax, file returns or to make other compliances on GSTN portal. Too many and too frequent changes has made this law fragile to handle and deal with. In all fairness and fitness of things, Central Government and GST Council must take immediate steps to redress all issues once for all, interact with policy makers, law framers, tax experts and all other stakeholders to identify the holes and plug them. A major restructuring is called for in GSTN portal and its deliverables. Let 2020 be the year dedicated for GST b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ack office and portal re-corrections and re-transformation so that GST actually becomes a law it was dreamt of. Of late, there have increased number of tax evasion cases being reported and arrests being made. These emanate from fake invoices, fake input credit claims etc. There is a need for intelligent use of data analytics to curb such abuse. At the same time, GST refunds must be made seamless and simple for the eligible ones. - Reply By Ganeshan Kalyani as = Very useful informations compiled in one article. Dated: 3-1-2020 Reply By Dr. Sanjiv Agarwal as = Thanks. Dated: 4-1-2020 - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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