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GST Council

Great relief to taxpayer given by GSTC in 23rd meeting of GST Council held at Guwahati, Assam on 10th November 2017. Relaxation given in filing of GSTR by extending due dates as well reduced late fee amount, also out of 227 items in 28% GST rate bracket ,177 items shifted  to 18%. GST council further recommended changes in Composition Scheme.



GST council recommended the following facilitative  measures for taxpayers:

GST Council : Relief in GST Return filing:-

  1. All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018.
  2. For filing of details in FORM GSTR-1 till March 2018, taxpayers would be divided into two categories. Details of these two categories along with the last date of filing GSTR 1 are as follows:
    1. Taxpayers with annual aggregate turnover up to Rs. 1.5 crore need to file GSTR-1 on quarterly basis as per following frequency:

Period : July – Sep, 2017  Due Date: 31-Dec-2017

Period : Oct – Dec, 2017  Due Date: 15-Feb-2018

Period : Jan – Mar, 2018  Due Date: 30-Apr-2018

    1. Taxpayers with annual aggregate turnover more than Rs. 1.5 crore need to file GSTR-1 on monthly basis as per following frequency:

Period : July – Oct, 2017  Due Date: 31-Dec-2017

Period : November, 2017  Due Date: 10-Jan-2018

Period : December, 2017  Due Date: 10-Feb-2018

Period : January, 2018  Due Date: 10-Mar-2018

Period : February, 2018  Due Date: 10-Apr-2018

Period : March, 2018  Due Date: 10-May-2018

  1. The time period for filing GSTR-2 and GSTR-3 for the months of July, 2017 to March 2018 would be worked out by a Committee of Officers. However, filing of GSTR-1 will continue for the entire period without requiring filing of GSTR-2 & GSTR-3 for the previous month / period.

GST Council: Relaxation in Late Fee:-

  1. A large number of taxpayers were unable to file their return in 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.
  2. Huge relief to taxpayer who had not filed ‘ NIL’ GST returns : For subsequent months, i.e. October 2017 onward, the amount of late fee payable by a taxpayer whose tax liability for that month was ‘NIL’ will be Rs. 20/- per day (Rs. 10/- per day each under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under CGST & SGST Acts).

GST Council: Manual Filing for Advance Ruling :-

A facility for manual filing of application for advance ruling is being introduced for the time being.

GST Council: Advantages for Service Providers :-

  1. Exports of services to Nepal and Bhutan have already been exempted from GST. It has now been decided that such exporters will also be eligible for claiming Input Tax Credit in respect of goods or services used for effecting such exempt supply of services to Nepal and Bhutan.
  2. 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).

GST Council: Due dates for submitting following forms shall be extended:-

 

Sr.No. Forms Original Due Dates Revised Due Dates
1 GST ITC-4 for the quarter July-Sep,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)

Note : Revised due dates for subsequent tax periods will be announced in due course

Relevant notifications for all of the above decisions will be issued shorty, so as to be effective from 15.11.2017.

 

GST Council One more time Changes in Composition Scheme recommended :-

  • Uniform rate of tax @ 1% under composition scheme for manufacturers and traders (for traders, turnover will be counted only for supply of taxable goods).
  • No change for composition scheme for restaurant (remain 5% without ITC).
  • Supply of services by Composition taxpayer upto Rs 5 lakh per annum will be allowed by exempting the same.
  • Annual turnover eligibility for composition scheme will be increased to Rs 2 crore from the present limit of Rupees 1 crore under the law. Thereafter, eligibility for composition will be increased to Rs. 1.5 Crore per annum.
  • Above changes will implemented after necessary changes in CGST and SGST Acts.

GST Council has also recommended changes in GST tax rates:

In the meeting held today, that is 10th November, 2017, the Council has recommended major relief in GST rates on certain goods and services. These recommendations spread across many sectors and across commodities.As per these recommendations, the list of 28% GST rated goods is recommended to be pruned substantially, from 224 tariff headings [about 18.5% of total tariff headings at 4-digit] to only 50 tariff headings including 4 headings which have
been partially reduced to 18% [about 4% of total tariff headings at 4-digit].



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3 thoughts on “Snippet of 23rd meeting of GST Council at Guwahati

  1. Santosh Verma says:

    Below amendment still confused any one can elaborate it.
    Supply of services by Composition taxpayer upto Rs 5 lakh per annum will be allowed by exempting the same

  2. Vineet Gandhi says:

    How much late fee for taxpayer how has gst liabily
    Where as for nil return rs. 20 is late fee

    1. RAJESH says:

      FOR TAXPAYERS RS. 50+50=100
      NIL TAXPAYERS RS. 10+10=20

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