India, 6 October 2020

The Government has announced various extensions for GST registered taxpayers.

1. The due date for furnishing Annual Return in GSTR-9/GSTR 9C for FY 2018-19 has been extended to 31 October 2020 from 30 September 2020.
2. The mandatory requirement of Dynamic QR Code on B2C invoices is deferred to 1 December 2020.
3. The Central Board of Indirect Taxes and Customs (CBIC) has rolled out the e-Invoicing system as planned. Businesses/Taxpayers with a turnover more than INR 500 crores in any preceding financial year from 2017-18 had to implement the e-Invoicing system from 1 October 2020 mandatorily.
Understanding the difficulties of taxpayers, the CBIC has announced a one-time relaxation for October 2020.
Based on the press release issued on 30 September 2020, it can be understood that:
• E-Invoicing will apply to the specified class of taxpayers from 1 October 2020.
• However, taxpayers can issue invoices in October 2020 without following the e-Invoicing guidelines if the Invoice Reference Number (IRN) for such invoices is obtained from the Invoice Reference Portal (IRP) within 30 days of the date of invoice.
• If IRN for the invoices issued in October 2020 is generated within 30 days, such invoices will be deemed to be valid and the penalty leviable under section 122 of the CGST Act, 2017 will be waived off.
• Invoices issued from 1 November 2020 will not have the benefit of the relaxations mentioned above.

Note: The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing of belated & revised ITRs for Assessment Year 2019-20 to 30 November 2020 from 30 September 2020.

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