Composition scheme opt-in: electronic intimation required and cumulative input tax credit adjustments must be reflected in subsequent return.
Registered persons opting for the composition scheme for 2020-21 must electronically file FORM GST CMP-02 on the common portal, signed or verified by electronic verification code or through a Commissioner notified Facilitation Centre, and furnish FORM GST ITC-03 in accordance with rule 44(4) by the prescribed cutoff. Additionally, the proviso to rule 36(4) makes the input tax credit condition cumulative for February through August 2020, requiring the September 2020 FORM GSTR-3B to reflect the cumulative input tax credit adjustments for those months.

Fixation of tariff values sets prescribed import valuation rates for edible oils, metals, seeds, nuts and precious metals.
The Central Board of Indirect Taxes & Customs, invoking sub-section (2) of section 14 of the Customs Act, 1962, amends Notification No. 36/2001-Customs (N.T.) by substituting new TABLE-1, TABLE-2 and TABLE-3. The substituted tables fix tariff values in US dollars for specified imports including edible oils, brass scrap, poppy seeds, areca nuts (per metric tonne) and specified forms of gold and silver (per weight), and include descriptive entries and explanations to govern import valuation under the notification series.

GSTR-3B filing deadlines set for Apr-Sep 2020, later dates for small taxpayers, and payment rules prescribed.
Returns in FORM GSTR-3B for April-September 2020 must be furnished electronically through the common portal on or before the twentieth day of the succeeding month, with taxpayers having aggregate turnover up to five crore rupees in the previous financial year permitted to file by the twenty-second day. Tax liabilities are to be discharged by debiting the electronic cash ledger or electronic credit ledger, as applicable; interest, penalty, fees and other amounts are to be debited from the electronic cash ledger, not later than the specified return due date.

Due date extension for GSTR-1 filing allows eligible large taxpayers extra time to furnish monthly outward supply details.
Registered persons with aggregate turnover exceeding 1.5 crore rupees may furnish details of outward supplies in FORM GSTR-1 for each month from April to September 2020 up to the eleventh day of the month succeeding such month; the corresponding time-limit for furnishing details or returns under sub-section (2) of section 38 for the same months will be notified subsequently in the Official Gazette.

Extension of annual return filing deadline under the Act permits electronic filing through the common portal for the affected year.
Under powers conferred by sub section (1) of section 44 of the Puducherry Goods and Services Act, 2017 read with rule 80 of the Puducherry Goods and Services Tax Rules, 2017, the Commissioner of State Tax, on the recommendations of the Council, has extended the time limit for furnishing the annual return for the 2018-2019 financial year; the return must be furnished electronically through the common portal as required by the Act and rules.

Anti-dumping duty extension for acetone preserved until 14th October 2020 through amendments to ADD notifications.
The Central Government amends two existing Customs (ADD) notifications to extend the anti-dumping duty on imported acetone from Korea Republic, Saudi Arabia and Chinese Taipei by substituting the previous cessation date in Notification No. 05/2015 and inserting a paragraph in Notification No. 13/2015 that the anti-dumping duty shall remain in force up to and inclusive of 14th October, 2020, unless revoked, superseded or amended earlier.

Reporting Officer deadline established for furnishing specified PMLA records by a mandated submission date.
An amendment to the Maintenance of Records Rules inserts a proviso to rule 8 commanding that, notwithstanding the timeframes in sub rules (1) and (3), the Reporting Officer shall furnish the specified information by the prescribed deadline, creating an overriding submission requirement and prioritising that due date over the ordinary timing provisions of the rule.

Sovereign Gold Bond Scheme 2020 21 issues gram denominated government gold bonds with 2.50% interest and specified subscription limits.
The Scheme issues Sovereign Gold Bonds as Government of India Stock in gram denominations, available to resident individuals, HUFs, trusts, charitable institutions and universities. Annual subscription ceilings: 4 kg for individuals/HUFs and 20 kg for trusts; nominal value fixed by the three day average gold price of 999 purity, with Rs.50 per gram discount for online digital payments. Bonds bear 2.50% p.a. interest payable half yearly, have an eight year tenor with premature redemption from year five, are transferable and tradable, usable as loan collateral subject to LTV norms, and receive capital gains tax exemption on redemption for individuals.

Return filing extension: procedural deadlines for GST CMP-08 and GSTR-4 submissions extended, affecting compliance timelines.
The amendment inserts provisos requiring the specified class of registered persons to furnish a statement of self-assessed tax in FORM GST CMP-08 for the quarter ending 31st March, 2020 by an extended deadline and to furnish the return in FORM GSTR-4 for the financial year ending 31st March, 2020 by a further extended deadline; the amendment is deemed effective from 3rd April, 2020 and only modifies the temporal filing obligations without changing form content or substantive tax liabilities.

Late fee waiver for delayed GSTR-1 filings where outward-supply details are filed by the extended deadline.
The notification inserts a proviso waiving the amount of late fee payable under section 47 where registered persons who failed to furnish details of outward supplies in FORM GSTR-1 for March, April and May 2020 and for the quarter ending 31st March 2020 furnish those details in FORM GSTR-1 on or before 30th June 2020. The amendment is effected under section 128 of the Tamil Nadu GST Act and is deemed effective from 3rd April 2020.

Late fee waiver for delayed GSTR-3B filings where eligible taxpayers in turnover classes file by specified alternate dates.
An amendment waives the late fee for specified GSTR-3B returns where registered persons, classified by aggregate turnover in the preceding financial year, fail to furnish returns by the original due date but furnish FORM GSTR-3B on or before the alternate prescribed dates set out for each tax period and class. The waiver is enacted under the Act's powers and is effective retrospectively from the stated commencement date.

Interest for delayed GST returns: conditional nil-interest windows and staggered deadlines for different turnover brackets.
Amendment prescribes interest treatment for late FORM GSTR-3B filers by classifying registered persons into turnover brackets, granting conditional nil-interest windows from the due date for specified tax periods and imposing a higher interest rate thereafter if returns and tax are not furnished by the extended dates; effective retrospectively from 20 March 2020.

Quarterly GSTR-1 filing for small registered persons with specified quarterly deadlines and deferred monthly return timelines.
Notification requires registered persons below the turnover threshold to furnish outward-supply details in FORM GSTR-1 quarterly, with set deadlines for the April-June and July-September quarters; separate time limits for furnishing details or returns under section 38(2) for April-September will be notified subsequently, and the notification is deemed effective from an earlier specified date.

Aadhaar authentication required for specified GST registrant representatives, with alternate ID methods where Aadhaar is unavailable.
The notification requires Aadhaar authentication for GST registration eligibility of the authorised signatory, managing and authorised partners of partnership firms, and the Karta of a Hindu undivided family; where Aadhaar is not assigned, alternate and viable means of identification specified in the rules must be offered, and the notification fixes the operative date for this requirement.

Aadhaar authentication requirement for GST registration eligibility from effective date, alternate identification accepted when Aadhaar unavailable.
Notification fixes the date from which an individual must undergo Aadhaar authentication as specified in the GST rules to be eligible for registration; if an Aadhaar number is not assigned, the individual shall be offered alternate and viable means of identification as specified in the rules. The notification declares that it shall be deemed effective from the stated effective date, thereby commencing the authentication requirement and alternate identification provision.

Aadhaar authentication exemption: non-citizens and unspecified classes excluded while certain individual representatives remain subject by notification.
Under powers conferred by section 25(6D) of the Tamil Nadu GST Act, the notification provides that the Aadhaar authentication requirements in sub section (6B) or sub section (60) shall not apply to persons who are not citizens of India or to classes of persons other than the following: individual; authorised signatory of all types; managing and authorised partner; and karta of a Hindu undivided family; effective from 1 April 2020.

Aadhaar authentication requirement for GST registration triggers physical verification where not completed; refunds re credited to electronic ledger.
The amendment mandates Aadhaar authentication for GST registration with physical verification where authentication fails, requires uploading verification reports in FORM GST REG-30, permits direct credit of input tax on certain capital goods to the electronic credit ledger with a five year useful life and procedures for ineligible credit when assets migrate categories, prescribes re credit of admissible refund amounts to the electronic credit ledger via FORM GST PMT-03, adjusts zero rated turnover valuation for refunds, and creates recovery rules for refunds where export proceeds are not realised under FEMA with limited RBI exception.

Dynamic QR code requirement: B2C invoices must include or be deemed to include a Dynamic QR for payment cross reference.
A B2C invoice issued by a registered person exceeding the prescribed aggregate turnover threshold, and by a person registered under the Integrated GST framework, must include a Dynamic QR code; if the Dynamic QR code is provided by digital display and the invoice cross references payment using that code, the invoice is deemed to have a QR code. The notification supersedes the prior departmental notification and sets a specified commencement date for the requirement.

E-invoicing requirement extended to high-turnover registered persons for supplies to registered recipients from the implementation date.
Notification designates registered persons with high aggregate turnover, excluding those covered by specified sub-rules, as the class required to prepare invoices and other prescribed documents for supplies to registered persons under the relevant invoicing sub-rule, superseding an earlier departmental notification and fixing a commencement date for that invoicing obligation.

GSTR-3B filing substitutes CMP-08 and GSTR-1 obligations for specified taxpayers, removing duplicate return requirements.
Registered persons who furnished returns in FORM GSTR-3B instead of the statement of payment of self-assessed tax in FORM GST CMP-08 for tax periods in financial year 2019-20 are not required to furnish the outward supplies statement in FORM GSTR-1 or the CMP-08 statement for all tax periods in that financial year.