Prime Minister Modi led BJP (NDA) government has finally heard the problems of GST registered dealers and professionals handling GST return and decided to extend the due dates for GSTR 1, GSTR 2 & GSTR 3 and also waiving the penalty payable for late filing of GSTR 3B for July 2017 for which the last date of filling was 28th August 2017. GST COUNCIL has also extended the due date of Filing TRANS 1 to 31st October 2017 earlier it was 30th September 2017.
GST Council Chaired by Finance Minister Arun Jaitley has announced that due date for GSTR 1 for July 2017 will be 10th October 2017 earlier which was 5th Sept 2017 extended by 5 days to 10th September 2017 but after facing lots of technical issue and server error, GST council decided to give big relief to tax payers and extended the due date by 30 days to 10th OCT 2017. There is no extension in GSTR 3B for August 2017 and its due date is 20th September 2017.
- 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|
|For registered persons with aggregate turnover of more than Rs. 100 crores, the due date shall be 3rdOctober 2017|
|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.|
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 30thSeptember 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 18thSeptember 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.