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Outcome of 21st meeting of GST council held at Hydrabad on 9th september,2017

GST Council , after reviewing presentation from various eminent institutions on difficulties being faced by taxpayers in the filing of GST returns, made some recommendation to facilitate taxpayers, in the 21st meeting held at Hydrabad on 9th September 2017.

1. Due dates for filing GST Returns revised and approved by the GST Council:

For the Period July, 2017
GSTR-1 : 10th October, 2017 (Turnover more than Rs. 100 Cr. is 03rd October, 2017)

GSTR-2 : 31st October, 2017

GSTR-3 : 10th November, 2017

GSTR-4 : 18th October, 2017 (For July-Sep,2017) (Table -4 not to be filled for Jul-Sep,2017 & filling GSTR-4A for this Qtr is dispensed with)

GSTR-6 : 13th October, 2017

Note: Subsequent periods due dates for filing returns shall be notified at a later date.

2. GSTR-3B filing will be continued for the months of August to December, 2017.
3. A registered person who could not opt for composition scheme, shall be given the option to avail composition till 30th September 2017 and permitted to avail the benefit of composition scheme with effect from 1st October, 2017.
4. GST TRANS – 1 can be revised once.
5. Due date for submission of GST TRANS-1 FORM extended to 31st October, 2017.
6. GST Council has decided to allow an exemption from registration to persons making inter-State taxable supplies subject to following Conditions:

a. Handicraft goods :
– 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).
– The goods move under the cover of an e-way bill and no limit of the value of the consignment.

(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)

b. Job worker :
– Inter-State taxable supply of job work service to a registered person upto aggregate turnover of Rs. 20 lacs as    long as the goods move under the cover of an e-way bill and irrespective of the value of the consignment.
– This exemption will not be available to job work in relation to jewellery, goldsmiths’ and silversmiths’ where as    covered under Chapter 71 which do not require e-way bill.

(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)

7. Registration for taxalbe persons who is liable to TDS and TCS under GST law will commence from 18th September 2017 and from which date TDS and TCS to be deducted or collected will be notified by the Coucil later.
8. GST Council decided to setup a committee under the chairmanship of the Reveune Secretary to examine export related issues.
9. GST Council also decided to constitute a group of minsiters who will monitor and resolve Information Technology related issues facing by stake holders during GST implementation.

 

Sources:PIB.NIC.IN

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3 thoughts on “21st Meeting of GST Council at Hydrabad

  1. Subu Rao says:

    I am worried about CA guys god give him power to do hard work in Sep-Oct .
    My suggestions to them do yoga & meditation daily.

    1. CA Kamat says:

      Thank for you good advise…!!!!!

  2. Ashok says:

    My GSTR 3B is pending can i file now?

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