29/03/2019
Dear All,
Central Board of Indirect Taxes & Customs (CBIC) has today issued Notification and various circulars. The brief details with the link is provided below for your reference:
1. Notification No. 15/2019 dated 28.03.2019
The time limit for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2017 to March, 2019 is extended till the 30th day of June, 2019.
http://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-15-central-tax-english-2019.pdf;jsessionid=B62B9EEF72673FC3B30EE2432E3853FC
2. Circulars dated 28.03.2019
1. Clarify issues in respect of transfer of input tax credit in case of death of sole proprietor
(a) Registration liability of the transferee / successor:
While filing application in FORM GST REG-01 electronically in the common portal the applicant is required to mention the reason to obtain registration as “death of the proprietor”
(b) Cancellation of registration on account of death of the proprietor:
To file application for cancellation of registration in FORM GST REG-16
The reason for cancellation is required to be mentioned as “death of sole proprietor”.
The GSTIN of transferee to whom the business has been transferred is also required to be mentioned to link the GSTIN of the transferor with the GSTIN of transferee
(c) Transfer of input tax credit and liability:
It is clarified that the transferee / successor shall be liable to pay any tax, interest or any penalty due from the transferor in cases of transfer of business due to death of sole proprietor.
(d) Manner of transfer of credit
The transferee / successor shall file FORM GST ITC-02 in respect of the registration which is required to be cancelled on account of death of the sole proprietor.
FORM GST ITC-02 is required to be filed by the transferee/successor before filing the application for cancellation of such registration.
Upon acceptance by the transferee / successor, the un-utilized input tax credit specified in FORM GST ITC-02 shall be credited to his electronic credit ledger
http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-96.pdf
2. Clarify verification of existing registration at the time of grant of new registration
It is hereby instructed that the proper officer may exercise due caution while processing the application for registration submitted by the taxpayers, where the tax payer is seeking another registration within the State although he has an existing registration within the said State or his earlier registration has been cancelled
It is clarified that not applying for revocation of cancellation of registration along with the continuance of the conditions specified in section 29 of the CGST Act shall be deemed to be a “deficiency”.
http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-95.pdf
3. Clarify certain refund related issues under GST
(a) Solution to problem where registered persons being unable to claim the full amount of refund of accumulated ITC on account of inverted tax structure to which they might be otherwise eligible.
(b) What shall be the consequence if any registered person reverses the amount of credit to be lapsed, in terms the said notification, through the return in FORM GSTR-3B for any month subsequent to August, 2018 or through FORM GST DRC-03 subsequent to the due date of filing of the return in FORM GSTR-3B for the month of August, 2018?
(c) Other related issues for refund
http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-94.pdf
Dear All,
Central Board of Indirect Taxes & Customs (CBIC) has today issued Notification and various circulars. The brief details with the link is provided below for your reference:
1. Notification No. 15/2019 dated 28.03.2019
The time limit for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2017 to March, 2019 is extended till the 30th day of June, 2019.
http://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-15-central-tax-english-2019.pdf;jsessionid=B62B9EEF72673FC3B30EE2432E3853FC
2. Circulars dated 28.03.2019
1. Clarify issues in respect of transfer of input tax credit in case of death of sole proprietor
(a) Registration liability of the transferee / successor:
While filing application in FORM GST REG-01 electronically in the common portal the applicant is required to mention the reason to obtain registration as “death of the proprietor”
(b) Cancellation of registration on account of death of the proprietor:
To file application for cancellation of registration in FORM GST REG-16
The reason for cancellation is required to be mentioned as “death of sole proprietor”.
The GSTIN of transferee to whom the business has been transferred is also required to be mentioned to link the GSTIN of the transferor with the GSTIN of transferee
(c) Transfer of input tax credit and liability:
It is clarified that the transferee / successor shall be liable to pay any tax, interest or any penalty due from the transferor in cases of transfer of business due to death of sole proprietor.
(d) Manner of transfer of credit
The transferee / successor shall file FORM GST ITC-02 in respect of the registration which is required to be cancelled on account of death of the sole proprietor.
FORM GST ITC-02 is required to be filed by the transferee/successor before filing the application for cancellation of such registration.
Upon acceptance by the transferee / successor, the un-utilized input tax credit specified in FORM GST ITC-02 shall be credited to his electronic credit ledger
http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-96.pdf
2. Clarify verification of existing registration at the time of grant of new registration
It is hereby instructed that the proper officer may exercise due caution while processing the application for registration submitted by the taxpayers, where the tax payer is seeking another registration within the State although he has an existing registration within the said State or his earlier registration has been cancelled
It is clarified that not applying for revocation of cancellation of registration along with the continuance of the conditions specified in section 29 of the CGST Act shall be deemed to be a “deficiency”.
http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-95.pdf
3. Clarify certain refund related issues under GST
(a) Solution to problem where registered persons being unable to claim the full amount of refund of accumulated ITC on account of inverted tax structure to which they might be otherwise eligible.
(b) What shall be the consequence if any registered person reverses the amount of credit to be lapsed, in terms the said notification, through the return in FORM GSTR-3B for any month subsequent to August, 2018 or through FORM GST DRC-03 subsequent to the due date of filing of the return in FORM GSTR-3B for the month of August, 2018?
(c) Other related issues for refund
http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-94.pdf
