CBEC-Clarification on filing of Returns under GST- Part-1

The GST Council, in its 23rd  meeting held at Guwahati on 10th November 2017, has taken certain decisions in regard to filing of returns by taxpayers. Subsequently, various representations have been received seeking clarifications on various aspects of return filing such as return filing dates, applicability and quantum of late fee, amendment of errors in submitting / filing of FORM GSTR-3B and other related queries. In order to consolidate the information in various notifications and circulars regarding return filing and to ensure uniformity in implementation across field formations, the Board, in exercise of its powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017 hereby clarifies the following issues:

Extension of due date of filing GSTR-1

Due date of filing Returns GSTR-1, GSTR-2 and GSTR-3 has been extended vide Notification No. 30/2017 – Central Tax date 11 September 2017 but now Notification No-58 has further extended due date for GSTR-1 for persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year and due date for GSTr-2 and GSTR-3 shall be notified later.

New dates are as under:-

Waiver of Late Fee in case late filing of GSTR-3B under GST

Amount of late fee payable by any registered person for failure to furnish the return in FORM GSTR-3B by the due date under section 47 of the said Act was waived off completely

(i)                 For the month of July 2017 vide Notification No. 28/2017-Central Tax, dated. 01-09-2017

(ii)               For the month of August,2017  and September 2017 vide Notification No. 50/2017-Central Tax ,dated. 24-10-2017

(iii)             For the Month of October 2017 and onward, there is relaxation in amount of late fee instead of complete waive off which is as under:-

No registration under GST if service Provider's aggregate Turnover less than Rs.20 Lakhs

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.

GST -New functionalities made available on GSTN Portal

1. GSTR-2 Offline Version 2.1 -
New version of GSTR-2 offline tool is available on portal now. This will enable taxpayers to export data of GSTR-2 from Tool to Excel. This will be helpful in comparing this data with purchase register to take actions like accept, reject and modify.

2. Form GST CMP-02-

Eway bill/ TDF-live in Uttar Pradesh

Finally the facility of E Way Bill and Generation of Transit Declaration Form has gone live on Uttar Pradesh Sales Tax Website.


The procedure of generation of E Way Bill/TDF is more organized and refined than before.

Is person taken registration voluntarily & having turnover less than ₹20lakhs/₹10 lakhs liable to pay tax under GST

Can a person who has taken GST registration voluntarily avail of the basic exemption threshold of Rs 20 lakhs / Rs 10 lakhs (depending on the state) and not pay GST?

Presentation for enrolment in GST

The existing  registered  assessee under State VAT/Excise/Service Tax must enroll their trade  / business / personal details  in  the  GST  portal  to get  Provisional  Registration  Certificate  under GST.

This  exercise  for VAT dealers has already been initiated and completed and now tax payers under excise and service tax need to complete their provisional registration under GST Portal.

We prepared a presentation on " How to enrol in GST portal?" and willing to share the same, download it.

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Guidance Note by CBEC to Department officers for migration under GST

Central Board of Excise & Custom (CBEC) has issued Guidance Note to the department officers regarding migration of existing tax payers under excise and service tax.

In Guidance note , statutory provision regarding migration and scheme representation of migration process has been explained.

It has been explained that if assessee is registered with State Commercial Tax department and he/she has already initiated this process of migration then there is no need to do the process again.
Guidance Note can be downloaded from the Link below.
LINK to download

GST set to be delayed till July, 2017

With the issue over division of the 10 million indirect tax assessee base between the Centre and states for administrative purposes looking intractable even at the end of the eighth session of the Goods and Services Tax (GST) Council here on Tuesday, the proposed epochal tax reform, which has been on the anvil for over a decade now, will most likely be delayed to June-July 2017 or later. While this and the differences over the size of the compensation for states and the administration of integrated GST (IGST) reflected how demonetisation has rapidly dispelled the initial Centre-state bonhomie at the council, the heightened uncertainty has made the Centre’s task of making the estimates for the Union Budget 2017-18 even more daunting.

Union finance minister Arun Jaitley said that with the council approving the 11-chapter draft integrated GST law except one section, the two key unresolved issues related to “cross-empowerment” and definition of “territory” for the purpose of taxation powers. Terming both “complex issues”, he explained that under the Constitution, territorial waters up to 12 nautical miles into the sea are in the Union territory, although coastal states enjoyed “fishing rights” in these areas and they have also been levying sales tax/VAT on high-sea transactions. Saying this was not a political issue, the minister said a constitutionally and legally tenable solution to it would be found soon. The council will meet next on January 16 to discuss the two issues.

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GST- Rollout Unlikely Before June-July

NEW DELHI:  Rollout of the Goods and Services Tax (GST) regime may only be possible by June-July as the possibilities of meeting the April 1 deadline are bleak now in view of the GST Council's slow progress, some council members said on Tuesday.

"Rollout will definitely not be in April. If GST can be passed in the Budget session of Parliament, then June or July could be possible," Kerala Finance Minister Thomas Isaac told reporters here at the end of Day 1 of the council meet.

Centre, states put off decision on GST rate to next month

A decision on GST rate was today put off to next month even as the Centre and states converged towards a consensus on levying a cess on luxury and sin goods in addition to the highest rate of tax in the new regime.

The cess would be used to compensate states for any loss of revenue they may suffer from implementation of Goods and Service Tax (GST) in first five years beginning 1 April, 2017.

An informal consensus was reached at the end of the two-day meeting of the GST Council on a four-slab tax structure of 6, 12, 18 and 26 percent. The lower tariff will be for essential items and the highest bracket for luxury and sin goods like tobacco, cigarettes and alcohol, but a decision was put off to the next meeting.

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3. GST-One question & its Answer daily

2. GST-One question & its Answer daily

GST-One question & its Answer daily

Four Rate of GST and Exemption for 50% goods & Service

Government is working on 4-slab rate, exemption for 50 per cent goods and services, 

AHEAD of the first meeting of the Goods and Services Tax (GST) Council on September 22-23, the Government is of the view that the basic tenet of the GST regime would be that it is “pro-poor” with 50 per cent of essential goods and services exempted from any tax.

The tax exclusion to nearly half the goods and services, an official said, would be “optically and politically correct” for the NDA government as already 300 items in the Centre and nearly 80 items in the states have this exemption.

At a review meeting Wednesday that discussed the run-up to the rollout, the consensus seemed to be that the new tax regime should not put fresh inflationary pressure and backed Revenue Secretary Hasmukh Adhia’s proposal of a tax band of 8 to 26 per cent with four rate slabs.

Sources said it was suggested that proposed slab rates of 8, 10, 18 and 26 per cent be tweaked to 10, 12, 16 and 25 per cent so that it did not affect revenue earnings and kept states on board as the final call has to be taken by the GST Council comprising state Finance Ministers and headed by Finance Minister Arun Jaitley.

Read Full :- http://indianexpress.com/article/business/economy/gst-rate-modi-govt-arun-jaitley-goods-and-services-tax-3031787/

Existing taxpayers of VAT, service tax and excise will be migrated to GSTN soon

Beginning next month, the Goods and Services Tax Network (GSTN) will start migrating over 80 lakh taxpayers onto its system. This will facilitate the smooth implementation of the GST regime. “The first part of our software will be ready by end October. Existing taxpayers of value added tax, service tax and central excise will be migrated to GSTN,” said Navin Kumar, Chairman, GSTN.

                                                                                                                                                                            Identities to be issued

In an interview to BusinessLine, he said the GSTN will begin issuing GST identity numbers (TIN) and generating passwords for these taxpayers. “They can log on to our system, familiarise themselves [with it] as well as provide us relevant information,” he said. The GSTN, which will provide the IT infrastructure for the new indirect tax levy, has already received a list of all the taxpayers, their Permanent Account Numbers (PAN), names of the business entities, and their constitution or form from the tax authorities.

Requirements

On receiving their ID and passwords, taxpayers will be expected to log on to the GSTN and provide three additional inputs — place and address of business, name(s) of directors or proprietors, and details of bank accounts — which will become part of the GST records.

“Though the taxpayers will have time up to six months after the roll out of GST to provide this information, but we thought we will give them an opportunity to come on the system now itself and familiarise themselves,” said Kumar, adding that annually about four lakh new taxpayers are estimated to enrol on the IT network.

He also expressed confidence that the GSTN will be ready to meet the roll-out target of the indirect tax levy from April 1, 2017. “We will have a beta run from the end of February to end March and will go live from April 1,” he stressed.

Read Full :-http://www.thehindubusinessline.com/economy/taxpayers-to-get-a-feel-of-gst-next-month/article9111652.ece

Cabinet approves creation of GST Council and its Secretariat

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has approved setting up of GST Council and setting up its Secretariat as per the following details:

Due date of Filing Return under DVAT extended

In partial modification to this department's Circular No. 11 of 2016-17 on the subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of first quarter return for the year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48  along with required annexure/enclosures

Goa is the 15th State Assembly to ratify the GST Bill

The Goa Legislative Assembly on Wednesday unanimously passed a resolution ratifying the amendments to the Constitution to pave way for the presidential assent to the Goods and Services (GST) Bill, 2016.

Chief Minister Laxmikant Parsekar said that Goa is the 15th State Assembly to ratify the Bill. With this, 50 per cent of States have passed the Bill paving way for the presidential assent, he said.

The resolution ratifying the Bill was passed at a specially convened one-day session after a two-hour long discussion, where legislators raised concerns over the possible revenue-loss the State could face, in view of that fact that it is primarily a service-oriented State and not a manufacturing destination.

Chief Minister Laxmikant Parsekar, however, sought to allay apprehensions saying that Goa, being a consumption destination, will benefit from the GST.

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