New functionalities were made available on GST portal- TEAM FINLEGALFORTE

Divyanshu Sahni & Associates

COMPANY SECRETARIES

Office: -512B, 5th Floor, Kirti Shikhar Building, District Centre, Janak Puri, New Delhi -110058

Email: info@finlegalforte.com    Mob; +91-9871027426

TEAM FINLEGALFORTE
TEAM FINLEGALFORTE

    Website: www.finlegalforte.com, www.csdivyanshusahni.com

Dear Taxpayer,New Year Greetings from Team FINLEGALFORTE.

Recently, following new functionalities were made available on GST portal for you:

 A)     Registration: Form for application of cancellation of registration by (new) taxpayer, is now available on GST portal (see rule 20 of the CGST rules, 2017).

 B)      Returns:  

a)      Taxpayers has been provided facility to give details of supplies made to merchant exporters at rate of 0.1 %, in all returns.

b)      Taxpayer has now been provided with Table 9 of Form GSTR 1, to give amendment details of invoices/ credit or debit notes etc. of previous period.

c)       Form GSTR-1 filing date has been changed to 10th Jan 2018, for the months of  July to November, 2017, ( for such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year), as per Notification No. 72/2017 Central Tax  dated 29th December, 2017.

d)      Tax payers have been given option for quarterly filing of Return. If a taxpayer opts to file quarterly returns, if their annual turnover is less than Rs 1.5 Cr (on basis of their turnover in previous financial year or this financial year expectation), then in these cases GSTR 1 of August, 2017 is disabled and he can file details for August and September, 2017 in GSTR 1 of September, 2017 and so on. Pl note that no changes can be made in GSTR 1 return of July, 2017. Pl also note that option once exercised cannot be changed in the current financial year.

e)      GSTR3B Nil Return Filing: So far there was no provision to file NIL Form GSTR 3B Return. All taxpayers were shown all tiles along with Payment tile. But in new implementation, in case a taxpayer selects option to file Nil GSTR 3B return, they can straightaway file NIL Return.

f)       GSTR 3B Return filing based on Questionnaire was implemented in GST Portal. On logging in and selecting Form GSTR-3B tile in Return dashboard, system now displays a questionnaire to the taxpayer, for selecting the tiles which will be displayed later to taxpayers, for filing of GSTR 3B Return.

g)      GSTR 4 and Composition Return Dashboard: Composition tax payers have to file quarterly return and Normal tax payers have to file monthly returns in GST Regime. For the taxpayers who have opted in to composition scheme and taxpayers who have opted out from the composition scheme as normal tax payer, provision to file both monthly/quarterly returns (in the interim period), has been enabled on the GST Portal.

h)      TRACK RETURN STATUS: Track Return Status is now available post login to taxpayers on the GST Portal, to track the status of submitted/filed return.

i)         Form GSTR 5Creation and submission of Form GSTR 5 by Non-resident taxable person is now available on GST Portal, for giving details of ITC taken, amendments, supplies made etc by them.

j)        Form GSTR 5A Creation and submission of Form GSTR 5A by OIDAR (Online Data Access or Retrieval Services) is now available on GST Portal, for giving details of supplies made by them to non-taxable person in India.

k)      Table 6A of Form GSTR 1 workaround has been disabled at GST portal due to the fact that the Form GSTR 1 for further period can now be filed by the taxpayers.  The taxpayers are required to fill the details of tax paid on exports made by them in Table 6A at the time of filing GSTR 1 for the relevant tax period.  In case the tax payer has already submitted Table 6A of Form GSTR 1 for the relevant tax period before filing GSTR 1 for the relevant tax period, he is not required to fill information in Table 6A at the time of filing GSTR 1 for the same tax period as these details will be auto populated in the relevant tab in the for GSTR 1. The previously filed Table 6A of Form GSTR 1 may be viewed by ARN Search.

l)         As the last date for filing Form GST-TRAN 1 is over on 27/12/2017 therefore, Form GST-TRAN 01 has been disabled at GST portal.

m)    Issues coming to taxpayers while filling up of amendment tables in offline utility of Form GSTR 1 has been fixed.

C)      Refunds: Taxpayers has been provided with the facility on GST Portal to claim refund of

a)      Exports of services with payment of Tax

b)      ITC accumulated due to inverted tax structure [under clause (ii) of first provision to section 54(3)]

c)       On account of supplies made to SEZ unit/ SEZ Developer (with payment of tax)

d)      On account of supplies made to SEZ unit/ SEZ developer (without payment of tax)

e)      Recipient of deemed exports

f)       Pre-login tracking of refund status with ARN  (https://refund.gst.gov.in/refunds/pre/trackarnstatus )

D)     Offline Tool for Form GST TRAN 2:  An offline tool to fill and upload data for TRAN 2 is now available to taxpayers on the GST portal. (https://www.gst.gov.in/download/trans2). TRAN 2 is statement for unregistered person under existing law, now registered in GST, to avail credit on goods held in stock on the appointed day, in respect of which they are not in possession of any document evidencing payment of duty. (Refer Rule 117(4) of CGST rules). 

REVISED GST RETURNS FILING DATE FOR REGULAR AND COMPOSITION SCHEME HOLDERS

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).