Page 32 - GSTL_16 April 2020_Vol 35_Part 3

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Businesses can claim GST refunds for cancelled orders,
says CBIC
The Central Board of Indirect Taxes and Customs (CBIC) on 13-4-2020
clarified that GST refunds could be claimed on advance payments received. “In
case GST is paid by the supplier on advances received for a future event which
got cancelled and for which invoice is issued before supply of service, the suppli-
er is required to issue accredit note,” the CBIC said.
[Source : Business Standard, New Delhi, dated 14-4-2020]

GST Refund allowed for cancelled events
The Central Board of Indirect Taxes and Customs as allowed claiming of
refunds of Goods and Services Tax (GST) paid on advances received for events or
bookings that have since been cancelled due to the lockdown. “In case GST is
paid by the supplier on advances received for a future event which got cancelled
subsequently and for which invoice is issued before supply of service, the sup-
plier is required to issue a “credit note,” the Indirect Tax Board said.
[Source : The Economic Times, New Delhi, dated 14-4-2020]

Centre waives fines on GST returns
The Government has implemented a complete waiver of interest and
penalty for late filing of Goods and Services Tax (GST) returns for businesses
having aggregate annual turnover of less than ` 5 crore, notifications issued by
the Central Board of Indirect Taxes and Customs (CBIC) said on April 8.
The CBIC has staggered deadlines on the basis of the turnovers for filing
monthly returns (GSTR-3B) by these taxpayers in order to avoid pressure on the
online tax filing system.
The notifications have given effect to Union Finance Minister Nirmala
Sitharaman’s March 24 announcements when she gave exemptions and extended
deadlines for filing income-tax and GST returns in the view of the COVID-19
pandemic.

GST LAW TIMES  16th April 2020  152