Why October 2020 is Important For GST Compliance Task?

Two important notifications mandating GST compliance have been released recently by the Central Board of Indirect Taxes and Customs (CBIC).

First, In case of turnover of more than Rs 5 crore for taxpayers, the notification related to e-way bill generation facilities will fail to file their GSTR-3B return form, for a consecutive period of two months or more, from 15 will be implemented. October 2020.

If a taxpayer having turnover over ₹ 5 crores and fails to file their GSTR-3B returns for a consecutive period of two months or more, the notification related to E-way bill generation facilities will be restricted. This notification will come into action from 15 October 15, 2020.

Rule 138 E (b) of the CGST Rules, 2017 also states that a person's E-Bill generation facility will be restricted if the person fails to file GSTR-3B returns continuously for two months or more. In the previous meeting, the GST Council meeting has decided that this provision will be applicable for taxpayers whose gross Aggregate Annual Turnover (AATO, PAN-based) is more than Rs 5 crores.

Additionally, In the case where the GSTIN associated with the respective PAN with Aggregate Annual Turnover over Rs 5 Crore has failed to file GSTR-3B Return for two or more tax periods, up to the month of tax period of August 2020, their EWB generation facility will be blocked on the EWB portal. Additionally, in a case where the respective PAN-linked GSTINs having Aggregate Annual Turnover of more than Rs 5 crore have failed to file GSTR-3B returns for two or more tax periods till the tax period of August 2020, their EWB generation facility on the EWB portal will be blocked.

It needs to be mention here that the EWB generation facility for such GSTINs (whether as consignor or consignee or by transporter) will be blocked on EWB Portal after October 15, 2020. To continue with the EWB generation facility on EWB Portal, you need to file your pending GSTR 3B returns promptly. If you are not registered on the EWB portal or have already filed your GSTR-3B Return for August 2020 or your AATO (PAN-based) is below Rs 5 Crore then you don’t have to worry about it.

Secondly, for taxpayers having turnover more than ₹ 5 crores, the due date of filing GSTR-3B for the September month is October 20, 2020. Meanwhile, it needs to be mention here that the due date for filing annual returns for the financial year 2018-19 has been stretched till October 31, 2020. So in the view of the present situation due to pandemic, In any case, the last date for furnishing the annual returns for the financial year 2019-20 will fall after October 31, 2020.

All the taxpayers need to keep the two important dates in mind namely October 15, 2020, and October 20, 2020, regarding the above discussed important GST compliances to avoid penalties and other penal consequences.

Comments

Why Small Firms Should Consider Gen Payroll Software?

Businesses in this competitive era would be required to manage the payroll. Payroll software has multiple operations such as paying employees, following tax laws, managing employee benefits, filing important documents, and keeping accurate records. Businesses that manage tasks manually or with spreadsheets can result in inappropriate compliance and issues, wasting time in doing operations. Gen Payroll software arrives to manage payroll with accuracy and resolve the issues that come therein. The merits and demerits of Gen Payroll software are mentioned below. Gen Payroll Software Gen Payroll is a payroll management software made by SAG Infotech . It eases and automates the process of payroll. The software’s features are tracking employee attendance, calculating salaries, ensuring compliance with laws like PF (Provident Fund), ESI (Employee State Insurance), and TDS (Tax Deducted at Source), as well as generating payslips. Businesses, whether small or large, can use this software. ...

How ITR Software Assists Individuals in Filing Tax Returns

Every assessee's process of income tax return (ITR) filing is significant, as it contributes to Indian's economy. The Income Tax Department has made efforts to facilitate this approach in recent years, but numerous people still see themselves steering a difficult financial system, multiple tax deductions, miscellaneous exemptions, and changing tax laws. This complexity can turn what must be an easy task into a significant challenge. In this context, income tax software evolves into an important partner, presenting a useful variety of accuracy, efficiency, and reassurance. The software enables return filing that permits taxpayers to handle their financial responsibilities when complying with the law. 1. Accurate Tax Calculations An incorrect income tax calculation of taxes could result in messages from the Income Tax Department or missed refunds. The tax software helps in finding taxable income and tax deductions that you may be allowed, like insurance or home loans. The co...

Major GST & Filing Updates 2025: Must-Know for Businesses

In 2025, India made amendments to its Goods and Services Tax (GST) system, which was introduced in 2017. The primary purpose of this amendment is to ensure that businesses and individuals comply with tax regulations, reduce tax fraud, and streamline tax management through the use of technology. The GST Network (GSTN) and the Central Board of Indirect Taxes and Customs (CBIC) have implemented new processes and software systems to streamline the tax return filing procedure for individuals. These improvements aim to simplify the tax filing process, minimise errors, and ensure that all taxpayers, as well as tax professionals, fulfil their tax obligations responsibly. Updates for the same have been given, and the impact they have had on business, accounting, and GST software providers. GSTR‑3B Locking Mechanism Introduced from July 2025 In 2025, an amendment was introduced regarding how businesses report their taxes using GSTR-3B. Now, the details of sales made by businesses, referred to as...

SAG Infotech: Need Tax Software (Call 0141-4072000)

Search This Blog