GST NEWS BULLETIN

Update on auto-population of E-invoice details in GSTR-1

• Certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from such e-invoices are be auto-populated in respective tables of GSTR-1. An update on the status of such auto-population was earlier published on 13/11/2020.
• Due to some unanticipated issues, there has been delay in auto-population of e-invoice details into GSTR-1.
• Hence, such taxpayers who had reported e-invoices should not wait for auto-populated data and they are advised to proceed with preparation and filing of GSTR-1 for the months of November 2020 (before the due date) and for October 2020 (in case not yet filed, as on date).
• It may also be noted that the auto-population of details from e-invoices into GSTR-1 is only a facility for the taxpayers. After viewing the auto-populated data, the taxpayer shall verify the propriety and accuracy of the amounts and other data in each field, especially from the perspective of GSTR-1, and file the same, in the light of relevant legal provisions.
• Once the auto-population into GSTR-1 gets started, the taxpayers are requested to verify the documents present in the excel and may share feedback on GST Self Service Portal,

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CBIC notified 8-digit HSN for certain chemicals & chemical products

• The CBIC vide Notification No. 90/2020–Central Tax, dated December 01, 2020, notified that a registered person mandatorily mention 8 digits of HSN Codes on a tax invoice issued on certain goods.
• Accordingly, principal Notification No. 12/2017 – Central Tax, dated June 28, 2017 has been amended, and in the said notification, after the first proviso, the following proviso has been inserted:
  “Provided further that for class of supply as specified in column (2) and whose HSN Code as specified in column (3) of the Table below, a registered person shall mention eight number of digits of HSN Codes in a tax invoice issued by him under the said rules

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Quarterly Return Monthly Payment (QRMP) scheme launched

• As per the recent tweet of GST Tech, GSTN launched Quarterly Return Monthly Payment (QRMP) scheme.
• Now taxpayers up to Rs. 5 Cr turnover have the option to file their GSTR-1 and GSTR-3B returns quarterly.

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Rs 1,04,963 collected as gross GST revenue during November 2020

• The gross GST revenue collected in the month of November, 2020 is ₹ 1,04,963 crore of which CGST is ₹ 19,189 crore, SGST is ₹ 25,540 crore, IGST is ₹ 51,992 crore (including ₹ 22,078 crore collected on import of goods) and Cess is ₹ 8,242crore (including ₹ 809 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of November up to 30th November 2020 is 82 lakhs.
• The government has settled ₹ 22,293 crore to CGST and ₹ 16,286 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of November 2020 is ₹ 41,482 crore for CGST and ₹ 41,826 crore for the SGST.

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