REVISED GST RETURNS FILING DATE FOR REGULAR AND COMPOSITION SCHEME HOLDERS

    admin 11 Nov 2017 0

    Recommendations made by the GST Council in the 23rd meeting at Guwahati on 10th November, 2017

    TEAM FINLEGALFORTE
    TEAM FINLEGALFORTE

           EFFECTIVE FROM 15/NOVEMBER/2017

    1. FILING OF RETURNS (PERIOD FOR REGULAR TAX PAYERS)
    S.NO RETURNS APPLICABILITY LAST DATE FOR FILING
    1 GSTR-3B Regular Dealer 20th of the succeeding month till March, 2018.
    2 GSTR-1 Taxpayers with annual aggregate turnover more than Rs. 1.5 crore  

    Period                Dates

    Jul- Oct      31st Dec 2017

     

    Nov           10th Jan 2018

    Dec           10th Feb 2018

    Jan           10th Mar 2018

    Feb           10th Apr 2018

    Mar           10th May 2018

     

    3 GSTR-1 Taxpayers with annual aggregate turnover up to Rs. 1.5 crore
    Period Dates
    Jul- Sep 31st Dec 2017
    Oct- Dec 15th Feb 2018
    Jan- Mar 30th April 2018
    4 GSTR-2 Regular Scheme NO DATES IS ANNOUNCED
    5 GSTR-3 Regular Scheme NO DATES IS ANNOUNCED

     

    LATE FEES WAIVED FOR:

    1. FORM GSTR-3B within due date for the months of July, August and September, 2017.Late fee was waived in all such cases. It has been decided that where such late fee was paid, it will be re-credited to their Electronic Cash Ledger under “Tax” head instead of “Fee” head so as to enable them to use that amount for discharge of their future tax liabilities. The software changes for this would be made and thereafter this decision will be implemented.

     

    PENALTY REDUCED FOR LATE FILING OF RETURNS  (FROM THE MONTH OF OCTOBER)

    S.NO OLD PROVISION NEW PROVISION
    1.      200/- per day (Rs. 100/- per day each under CGST & SGST Acts).  20/- per day (Rs. 10/- per day each under CGST & SGST Acts)

    1. FILING OF RETURNS (PERIOD FOR COMPOSITION SCHEME DEALER, ISD AND CASUAL TAXABLE PERSONS

     

    S. No. FORM and Details Original due date Revised due date
    1 GST ITC-04 for the quarter

    July-September, 2017

    25.10.2017 31.12.2017
    2 GSTR-4    for    the    quarter July-September, 2017 18.10.2017 24.12.2017
    3 GSTR-5 for July, 2017 20.08.2017 or 7 days from the

    last     date     of     registration whichever is earlier

    11.12.2017
    4 GSTR-5A for July, 2017 20.08.2017 15.12.2017
    5 GSTR-6 for July, 2017 13.08.2017 31.12.2017
     

    6

     

    TRAN-1

     

    30.09.2017

    31.12.2017        (One-

    time option of revision also to be given till this date)


    Further benefits for service providers  🙂 

    1. Exports of services to Nepal and Bhutan have already been exempted from It has now been decided that such exporters will also be eligible for claiming Input Tax Credit In respect of goods or service used for effecting such exempt supply of services to Nepal and Bhutan.

    EXEMPTION LIMIT FOR REGISTER UNDER GST FOR SERVICE PROVIDER THROUGH E-COMMERCE PORTAL

    In an earlier meeting of the GST Council, it was decided to exempt those service providers whose annual aggregate turnover is less than Rs. 20 lakhs (Rs. 10 lakhs in special category states except J &K) from obtaining registration even if they are making inter-State taxable supplies of services.

    As a further measure towards taxpayer facilitation, it has been decided to exempt such suppliers providing services through an e-commerce platform from obtaining compulsory registration provided their aggregate turnover does not exceed twenty lakh rupees. As a result, all service providers, whether supplying intra-State, inter-State or through e-commerce operator, will be exempt from obtaining GST registration, provided their aggregate turnover does not exceed Rs. 20 lakhs (Rs. 10 lakhs in special category States except J & K).

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

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