Ques 1 – Advance is received and subsequently the event/ service has been canceled and: -
a) The supplier has issued invoice and paid tax thereon
Supplier shall issue a ‘Credit Note’ and adjust the tax liability in the return. In case, there is no output tax liability then taxpayer can apply for refund in Form RFD-01 under ‘Excess payment of tax’
b) Supplier has issued receipt voucher and paid tax on advance
Supplier shall issue a ‘Refund voucher’ and can apply for refund in Form RFD-01 under ‘Excess payment of tax’
Ques 2 – Letter of Undertaking (LUT) has been filed for the FY 2019-20. Can goods be supplied w/o GST on basis of previous LUT or IGST shall be payable?
the requirement for filing and form, documents has been extended to 30.06.2020. So, LUT for FY 2020-21 can be file till 30.06.2020. The taxpayer shall continue to make exports w/o payment of tax and shall quote reference no. of LUT for the FY 2019-20.
Ques 3 – What is the due date of filing Form GSTR-7/ GSTR-6/ GSTR-5/ GSTR-8 for deposit of TDS under GST without late fees?
Any due date (for any month) of filing of GSTR-7/ GSTR-6/ GSTR-5/ GSTR-8 falling between 20th March, 2020 to 29th June, 2020 shall be extended to 30th June, 2020.
Ques 4 – Date of application of refund expires on 31.03.2020, then the extended due date is applicable for such application?
Yes, the application can be filed till 30th June. 2020.
Ques 5 – How to calculate interest for delay in filing GSTR-3B for the Months of Feb’20 to Apr’20 for taxpayers having turnover in preceding FY of more than 5 Cr.?
Illustration: - For the month of March 2020 (actual due date 20.04.2020), for claiming lower interest of 9% (After 15 days from due date) the GSTR 3B has to be filed till 24th June, 2020.
By CA Mehul Gupta +91-8368972811