Yvk And Associate

The 1^st Proviso to Rule 46 of CGST Rules 2017 has been amended, vide Notification No.79/2020-CT dated 15-10-2020, for declaration of HSN code in invoice. Under this amended Proviso, Notification No. 78/2020 – Central Tax, dated 15.10.2020 has been issued to make HSN code mandatory up to 4 digits in the B2B invoices with effect from 01.04.2021 issued by taxpayers whose aggregate turnover in the preceding financial year is uptoRs. 5 crores. For the taxpayers whose turnover in the preceding financial year is more than Rs. 5 crores, HSN code is mandatory up to 6 digits in invoices with effect from 01.04.2021.

Ministry of Finance
(Department of Revenue)
(Central Board of Indirect Taxes And Customs)
New Delhi,

Notification No. 78/2020 – Central Tax

Dated: 15th October, 2020

G.S.R. 638(E).— In exercise of the powers conferred by the first proviso to rule 46 of the Central Goods and Services Tax Rules, 2017, the Central Board of Indirect Taxes and Customs, on the recommendations of the Council, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.12/2017 – Central Tax, dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 660(E), dated the 28^th June, 2017, namely:–

In the said notification, with effect from the 01^st day of April, 2021, for the Table, the following shall be substituted, namely, –

“TABLE

Provided that a registered person having aggregate turnover up to five crores rupees in the previous financial year may not mention the number of digits of HSN Code, as specified in the corresponding entry in column (3) of the said Table in a tax invoice issued by him under the said rules in respect of supplies made to unregistered persons.”.

[F. No. CBEC-20/06/09/2019-GST]

PRAMOD KUMAR, Director

Note: The principal notification number 12/2017 – Central Tax, dated the 28th June, 2017, published in the Gazette  of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 660(E), dated the 28^th June, 2017.

CBDT vide circular No. 15/2021 dated 03.08.2021 Extended time lines for electronic filing of various Forms under the Income-tax Act, 1961 in view of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms and considering the non-availability of the utility for e-filing of certain Forms. Forms for which dates been extended are Form No. 15CC, Equalization Levy Statement in Form No.1, Form No. 64D, Form No. 64C, Form No. 10BBB and Form II SWF.

Income Tax Due Date extension Table as per CBDT circular No. 15/2021 dated 03.08.2021 

• Clarifications by CBDT:

It is also clarified that the above said forms, e-filed, after the expiry of time limits provided as per Circular No.12 of 2021 dated 25.06.2021 or as per the relevant provisions, till date, will stand regularized accordingly. 

Disclaimer:  Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Need of E-Way Bill ?

1. Tracking Transportation of Goods (as GST is a Destination Based Tax System)

2. To Avoid Tax Evasion

When E-Way Bill Needs to be Issue ?

• When ever there is Movement of Goods + Value of Goods Exceed 50,000
• Note :

1. Value means TAXABLE VALUE of Goods is Inclusive of GST (Does not Include Value of EXEMPTED SUPPLY)

2. Value is Considered PER INVOICE

Exception : (When Limit of 50,000 is NOT APPLICABLE)

1. If goods sent for Job Work from one state to another State (Inter State)

2. Handicraft Goods Transported from one state to another State (Inter State)

E-Way Bill Issued by Whom ?

When filling of Part-B information (Transporter’s Details) is Not Necessary ?

If Distance of Transportation is up-to 50 KM + Inter State

Validity of E-Way Bill

For Over Dimensional Cargo

Example:

If E-Way is generated on 14th August @ 2 PM – It is valid till 12 AM of 15th August

Extension of Validity ?

– 8 Hours Extra (after 12 AM) (With Exceptional Reasons)

When E-Way Bill is Not Required ?

• Transportation of LPG – Household Purpose or Non-Domestic Exempted Category
• Kerosene Oil Solid under PSD
• Postal Baggage transported by Department of Post
• Precious Metal or Stones or Jewellery
• Currency
• Used Household Goods
• Coral
• Where Transportation by non Moterised Vehicle (Hand Rickshaw etc)
• Transportation of Exempted Goods
• Transportation of Alcohol for Human Consumption, Petroleum Products
• Transportation of Goods (Covered under Schedule 3)

Important Points :

• Acceptance of E-Way Bill – If Does not Communicate Acceptance = Deemed Accepted
• Want to Reject (whichever is Earlier)

(a) Before 72 Hours (from Intimation) or

(b) Before Delivery

• Alteration in E-Way Bill – Not Possible
• If want to Cancel – Cancel within 24 Hours & fill New E-Way Bill