Summary of important GST Notifications applicable from 01.01.2020

Amendment to CGST Act

• Notification No. 01/2020 Central Tax dated 1 st January, 2020

• The provisions of sections 92 to 112 Amendments to CGST Act, 2017 except section 92 Pertaining to National Appellate authority for Advance Rulings), section 97 Pertaining to Section 39 of CGST Act), section 100 Pertaining to Section 50 of CGST Act Interest payable on amount paid by debiting cash ledger) and sections 103 to 110 (refund Pertaining to National Appellate authority for Advance Rulings National Appellate authority of the Finance Act, 2019

• Shall come into force w e f 1st January, 2020

Summary of important GST Notifications applicable from 01.01.2020

GST Rate Changes

• Notification No 28/2019 Central Tax (dated 30th December, 2019)

• Exemption to upfront amount payable for long term lease of industrial/ financial infrastructure plots by an entity having 20 or more ownership of Central or State Government Earlier the exemption was available to an entity having 50 or more ownership of Central or State Government

• Conditions imposed to ensure that the leased plots are used for the purpose for which they are allotted to monitor the intended use and to recover the amount with interest in case of any violations

• Notification No 27/2019 Central Tax (dated 30th Dec, 2019)

• Rate of GST rate on Woven and Non Woven Bags and sacks of polyethylene or polypropylene strips or the like whether or not laminated, of a kind used for packing of goods (HS code 3923/6305) and all such bags falling under HS 3923/6305 including Flexible Intermediate Bulk Containers (FIBC)

• raised to a uniform rate of 18 % (from 12%)

• Following entries inserted in Schedule III 18 in Notification No 1/2017 Central Tax (Rate)

• 163 B- 3923 or 6305 – Woven and non woven bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of goods

• 163 C – 6305 32 00 – Flexible intermediate bulk containers

• Entries of 12% viz 80 AA and 171 A omitted

• Notification No. 02/2020 Central Tax dated 01st January, 2020

• In case of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and in respect of whom the Council has made a recommendation for such extension

• Commissioner may, on the recommendations of the Council, extend the date for submitting the declaration electronically in FORM GST TRAN-1 by a further period not beyond 31st March, 2020

• Statement in Form GST TRAN 2 above cases, may be submitted by 30th April, 2020 

• Form GSTR 3A

• Serial No 2- You are, therefore, requested to furnish the said return within 15 days failing which the tax liability may be will be assessed u/s 62 of the Act, based on the relevant material available with this office Please note that in addition to tax so assessed, you will also be liable to pay interest and penalty as per provisions of the Act

• Serial number 5 inserted as under

• 5 This is a system generated notice and does not require signature 

• Notification No 03/2020 Central Tax dated 1st January, 2020

• Taxpayer has an option to transfer the input tax credit (ITC) from the registered GSTIN, till the 31st December, 2019 30th October, 2019 in the State of Jammu and Kashmir, to the new GSTIN in the Union territory of Jammu and Kashmir or in the Union territory of Ladakh from the 31st October 1st January, 2020

• The balance of State taxes in electronic credit ledger of the said class of persons, whose principal place of business lies in the Union territory of Ladakh from the 31st October, 2019 1st January, 2020 shall be transferred as balance of Union territory tax in the electronic credit ledger

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