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GST- Circular No 138 issued on 6/05/2020 by CBIC with CA Rajender Arora

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Published on 21 May 2020 / In GST

GST Circular No 138 issued on 6-05-2020 by CBIC with Rajender Arora

5 ISSUES CLARIFIED BY CBIC UNDER THIS CIRCULAR

FIRST ISSUE
THIS IS REGARDING NOTE NO 11/2020 CT ISSUED ON 21-3-2020 ABOUT CORPORATE DEBTORS WHOSE CIRP IS INITIATED.

SECOND ISSUE
THIS IS AGAIN REGARDING NOTE NO 11/2020 CT ISSUED ON 21-3-2020 ABOUT CORPORATE DEBTORS WHOSE CIRP IS INITIATED.

THIRD ISSUE
THIS IS AGAIN REGARDING NOTE NO 11/2020 CT ISSUED ON 21-3-2020 ABOUT CORPORATE DEBTORS WHOSE CIRP IS INTIATED.

FOURTH ISSUE
WHERE GOODS ARE SUPPLIED BY A SUPPLIER TO A RECIPIENT WHO IS MERCHANT EXPORTER AND THESE GOODS ARE SUPPLIED UNDER NOT NO. 40/2017 DT 23-10-17 ON THE RATE OF 0.10%.

THERE IN THAT NOTIFICATION IT IS REQUIRED THAT MERCHANT EXPORTER SHOULD EXPORT THOSE GOODS SUPPLIED WITHIN 90 DAYS FROM THE DATE OF INVOICE ISSUED BY THAT SUPPLIER.

NOW DURING THIS LOCKDOWN, ISSUE IS THAT IF COMPLETION OF THAT 90 DAYS IS FALLING DURING 20-3-2020 TO 29-6-2020 THEN THIS SHALL BE AUTOMATICALLY BE EXTENDED TO 30-6-2020.

FIFTH AND LAST ISSUE
LAST DATE TO SUBMIT ITC-04 FOR THE QTR ENDING 31-3-2020 IS 25-4-2020. IT IS CLARIFIED THAT THE DATE IS EXTENDED TILL 30-6-2020.

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