Page 46 - GSTL_26th March 2020_Vol 34_Part 4

J142 GST LAW TIMES [ Vol. 34
the corporate insolvency resolution process, so as to enable
them to comply with the provisions of GST Laws during the
CIRP period.
(g) Extension of due dates for FORM GSTR-3B for the month of
July, 2019 to January, 2020 till 24th March, 2020 for registered
persons having principal place of business in the Union terri-
tory of Ladakh. Similar extension is also recommended for
FORM GSTR-1 & FORM GSTR-7.
(h) Bunching of refund claims allowed across financial years to
facilitate exporters.
(2) Deferment of E-invoice and QR Code :
(a) Certain class of registered persons (insurance company,
banking company, financial institution, non-banking finan-
cial institution, GTA, passenger transportation service etc.) to
be exempted from issuing e-invoices or capturing dynamic
QR code; and
(b) The dates for implementation of e-invoicing and QR Code to
be extended to 1-10-2020.
(3) Deferment of e-wallet Scheme :
(a) Extension of the time to finalize e-Wallet scheme up to 31-3-
2021; and
(b) Extension of the present exemptions from IGST and Cess on the
imports made under the AA/EPCG/EOU schemes up to 31-3-2021.
(4) Continuation of existing system of furnishing FORM GSTR-1 &
FORM GSTR-3B till September, 2020;
(5) Other new initiatives :
(a) Seeking information return from Banks;
(b) To curb fake invoicing and fraudulent passing of ITC, re-
strictions to be imposed on passing of the ITC in case of new
GST registrations, before physical verification of premises
and Financial KYC of the registered person.
(6) Issuance of circulars in respect of :
(a) Clarification in apportionment of ITC in cases of business re-
organization under Section 18(3) of CGST Act read with Rule
41(1) of CGST Rules;
(b) Appeals during non-constitution of the Appellate Tribunal;
(c) Clarification on refund related issues; and
(d) Clarification on special procedure for registered persons who
are corporate debtors under the provisions of the Insolvency
and Bankruptcy Code, 2016, undergoing the corporate insol-
vency resolution process.
(7) Amendments to the CGST Rules : Key amendments are as below :
(a) Procedure for reversal of Input Tax Credit in respect of capi-
tal goods partly used for affecting taxable supplies and part-
ly for exempt supplies under Rule 43(1)(c);

GST LAW TIMES  26th March 2020  142
( A142 )