Notification No. 39/2018- Central Tax, dated 4 September 2018

1. Rule 36 of the CGST Rules, 2017 has been amended wherein ITC may be availed by a registered person if the document issued by supplier contains certain specified particulars i.e. Details of amount of tax charged, Description of goods or services, Total value of supply of goods or services, GSTIN of supplier and recipient, Place of supply in case of inter-State supply.
2. Refund rules have been amended wherein definition of adjusted Total Turnover has been corrected with respect to turnover of zero rated supply of services.
3. Rule 96 of CGST Rules (Refund of integrated tax paid on goods/services exported) has been amended with retrospective effect to deny refund of IGST paid on exports where goods or services procured under Advance Authorisation/EPCG/EOU/reduced rate of tax for exports.
4. E-way bill provisions have been amended stating that in case of imports the person in charge of a conveyance shall also carry copy of the bill of entry filed by the importer and shall indicate the number and date of the bill of entry in Part A of Form EWB-01.
5. Form GST ITC-04 (Details of goods/capital goods sent to job worker and received back) substituted.
6. Form 9 (Annual Return) and Form 9A ( Annual return for composition taxpayers ) released.

 
Notification No. 40/2018- Central Tax, dated 4 September 2018
 
Due date for making declaration in Form GST ITC-04 ((Details of goods/capital goods sent to job worker and received back) during the period from July 2017 to June 2018 is extended till 30^th September 2018.
 
Notification No. 41/2018- Central Tax, dated 4 September 2018
 
Government waives late fee stipulated under section 47 of CGST Act, 2017 for –

• Registered person who had submitted but could not file GSTR-3B for the month of October 2017 after generating ARN
• Composition dealer who filed GSTR-4 for October-December 2017 within due date where late fee was erroneously levied on common portal
• ISD who paid late fee for filing GSTR-6 for any tax period between 1^st January to 23^rd January 2018.

 
Notification No. 42/2018- Central Tax, dated 4 September 2018
 
Extends the time limit for making the declaration in FORM GST ITC-01 for specified classes of taxpayers.
 
Circular No. 57/31/2018-GST, dated 4 September 2018
 
Supply of goods from Principal to agent and vice versa will be covered under the ambit of Schedule 1 if invoice is issued by agent in his own name.
 
Circular No. 58/32/2018-GST, dated 4 September 2018
 
Recovery of arrears in case of wrongly availed Cenvat credit under the erstwhile law and CENVAT credit wrongly transitioned in the GST regime shall be made by reversing the said credit through Table 4(B) (2) of Form GSTR-3B.
 
The applicable interest and penalty on all such reversals shall be paid through Table 6.1 of Form GSTR-3B.
 
Circular No. 59/33/2018-GST, dated 4 September 2018
 
CBIC clarifies various refund related issues;

• Prescribes that refund claim shall be accompanied by a print out of Form GSTR-2A for relevant period for which refund is claimed. Proper officer shall not insist in submission of an invoice, however may call for hard copies an invoices where GSTR-2A do not contain invoice details of ITC claimed.
• Details of invoices on which ITC has been availed shall be submitted manually in the format specified (Annexure A) along with refund application.
• Refundable amount of unutilised ITC is to be debited in the order specified in the circular. However, such procedure is not available on common portal and therefore, taxpayers shall follow said order for all refund applications. No adverse view shall be taken by tax authorities in respect of pending applications.

 
Circular No. 60/34/2018-GST,dated 4 September 2018
 
CBIC prescribes procedure for processing refund applications filed by Canteen Stores Department. It clarifies that refund is to be granted is not for accumulated ITC but based on invoices of the inward supplies received. Further, CSD can apply for refund manually by filing an application in Form GST RFD-10A.
 
Circular No. 61/35/2018-GST, dated 4 September 2018

• CBIC states that the transporter godown has to be declared as an additional place of business by the recipient taxpayer in case the recipient taxpayer stores his goods in the godown of transporter. Mere declaration by the recipient taxpayer with the concurrence of the transporter will suffice and transportation under the e-way bill shall be deemed to be concluded once the goods have reached the transporter’s godown.
• Further, clarifies that in case of transportation of goods from transporter’s godown (additional place of business of recipient taxpayer) to any other premises of recipient taxpayer than a valid e-way bill shall be required to be issued.

CA Rubneet Anand
B.Com, M.Com(Finance& Taxation), MBA(Finance & International Business- IMT Ghaziabad)
carubneetanand@gmail.com
Deputy Manager (Internal Audit & Indirect Taxation)-M/s SML Isuzu Ltd
Facebook Page- Corporate Prism-Consultation in Accounting & Corporate Management
https://www.facebook.com/CARubneetAnand/