ALL VETERANS ARE REQUESTED TO SEE THE WEB SITE & GIVE YOUR VALUABLE COMMENTS/SUGGESTIONSGet this Widget

Sunday, 10 September 2017

Recommendations made by the GST Council in the 21st meeting at Hyderabad on 9th September, 2017

Indian Military Veterans

Recommendations made by the GST Council in the 21st meeting at Hyderabad on 9th September, 2017 
The GST Council, in its 21st meeting held at Hyderabad on 9th September 2017, has recommended the following measures to facilitate taxpayers:
a)      In view of the difficulties being faced by taxpayers in filing returns, the following revised schedule has been approved:
Sl. No.
Details / Return
Tax Period
Revised due date
1
GSTR-1
July, 2017
10-Oct-17
For registered persons with aggregate turnover of more than Rs. 100 crores, the due date shall be 3rdOctober 2017
2
GSTR-2
July, 2017
31-Oct-17
3
GSTR-3
July, 2017
10-Nov-17
4
GSTR-4
July-September, 2017
18-Oct-17 (no change)
Table-4 under GSTR-4 not to be filled for the quarter July-September 2017. Requirement of filing GSTR-4A for this quarter is dispensed with.
5
GSTR-6
July, 2017
13-Oct-17
Due dates for filing of the above mentioned returns for subsequent periods shall be notified at a later date.
b)      GSTR-3B will continue to be filed for the months of August to December, 2017.
c)      A registered person (whether migrated or new registrant), who could not opt for composition scheme, shall be given the option to avail composition till 30th September 2017 and such registered person shall be permitted to avail the benefit of composition scheme with effect from 1st October, 2017.
d)     Presently, any person making inter-state taxable supplies is not eligible for threshold exemption of Rs. 20 lacs (Rs. 10 lacs in special category states except J & K) and is liable for registration. It has been decided to allow an exemption from registration to persons making inter-State taxable supplies of handicraft goods upto aggregate turnover of Rs. 20 lacs as long as the person has a Permanent Account Number (PAN) and the goods move under the cover of an e-way bill, irrespective of the value of the consignment.
e)      Presently, a job worker making inter-State taxable supply of job work service is not eligible for threshold exemption of Rs. 20 lacs (Rs. 10 lacs in special category states except J & K) and is liable for registration.  It has been decided to exempt those job workers from obtaining registration who are making inter-State taxable supply of job work service to a registered person as long as the goods move under the cover of an e-way bill, irrespective of the value of the consignment. This exemption will not be available to job work in relation to jewellery, goldsmiths’ and silversmiths’ wares as covered under Chapter 71 which do not require e-way bill.
f)       FORM GST TRAN-1 can be revised once.
g)      The due date for submission of FORM GST TRAN-1 has been extended by one month i.e. 31stOctober, 2017.
h)      The registration for persons liable to deduct tax at source (TDS) and collect tax at source (TCS) will commence from 18th September 2017. However, the date from which TDS and TCS will be deducted or collected will be notified by the Council later.
2.         The GST Council has decided to set up a committee consisting of officers from both the Centre and the States under the chairmanship of the Revenue Secretary to examine the issues related to exports.
3.         The GST Council has also decided to constitute a Group of Ministers to monitor and resolve the IT challenges faced during GST implementation.

*****
DSM/SBS


(Release ID :170642)

Blog Archive

Disclaimer

The contents posted on these Web Site are personal reflections of the Viewers and do not reflect the views of the "Indian Military Veterans- Web" Team. Neither the "Indian Military Veterans -Web" nor the individual authors of any material on these Web accept responsibility for any loss or damage caused (including through negligence), which anyone may directly or indirectly suffer arising out of use of or reliance on information contained in or accessed through these Web.
This is not an official Web site. This forum is run by team of ex- Indian Army, Veterans for social networking of Indian Defence Veterans. It is not affiliated to or officially recognized by the MoD or the AHQ, or Government/ State.
The Indian Military Veterans Forum will endeavor to edit/ delete any material which is considered offensive, undesirable and or impinging on national security. The WebTeam is very conscious of potentially questionable content. However, where a content is posted and between posting and removal from the Web in such cases, the act does not reflect either the condoning or endorsing of said material by the Team.
Web Moderator: Capt KS Ramaswamy (Retd)

Resources


JOIN SITE AS MEMBER AS ABOVE & TYPE YOUR E-MAIL ADDRESS HERE FOR AUTO E-MAIL UPDATES