GST Update – Notifications No 82,83,84,85 and 86/2020 issued on 10-11-2020

Byefficpro
gst

GSTR-1 & GSTR-2 related:-

  • Quarterly return filers can file their first and second month B2B invoices in Invoice Furnishing Facility (IFF) on or before 13th of 1st month in next qtr.
  • Total value for such B2B invoices is capped to 50 lakhs per month
  • No need to report invoices again in GSTR-1 if already reported in IFF
  • Due date of GSTR-1 for quarterly filers is 13th of 1st month in next qtr.
  • HSN/SAC codes shall be mentioned mandatorily in GSTR-1 ( <5Cr- 4 digit, >5Cr- 6 digit)
  • The invoices reported in IFF shall be made available to recipient in their GSTR-2A/2B

ITC-04 related:-

  • Due date for filing ITC-04 (Job worker return) for the period July 2020 to September 2020 is extended to 30th November 2020

Disclaimer:

The purpose of this blog is for education purpose and should not be construed as professional advice. Views expressed herein are the personal views of the author. Government or judicial authorities may or may not subscribe to the views expressed herein. Author of the blog is not liable for any implications arising out of actions taken based on the views expressed herein.

 

 

Related Blogs