Rays Advisors

13/11/2017

GSTR-1 Due Dates:
(i) Annual aggregate turnover up to Rs. 1.5 crore – Quarterly Returns
Jul- Sep 31st Dec 2017
Oct- Dec 15th Feb 2018
Jan- Mar 30th April 2018
(ii) Annual aggregate turnover more than Rs. 1.5 crore – Monthly Returns
Jul- Oct (Every month) 31st Dec 2017
Nov 10th Jan 2018
Dec 10th Feb 2018
Jan 10th Mar 2018
Feb 10th Apr 2018
Mar 10th May 2018

11/11/2017

11/11/2017

11/11/2017

*Key Points From 23rd Council Meeting Today*-

1. *178 items have been moved from 28 per cent to 18* like chewing gums, Detergent, marble floorings, toiletries to 18 per cent from existing 28 per cent.

2. *Restaurants in starred-hotels will charge 18 per cent* tax with input tax credit, those in *lower category hotels to charge 5 per cent* GST without ITC

3. *Tax rate on 13 items reduced from 18 per cent to 12 per cent*, while tax rates have been reduced to 5 per cent on five items from 18 per cent. Besides, rate on 6 items lowered to zero from 5 per cent

4. *Late Fees for the months of July, August and Sept, 2017 for GSTR-3B waived in all such cases*. 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.

5. *For subsequent months*, i.e. October 2017 onwards, 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).

6. *Due dates for furnishing the following forms shall be extended as under*: -GST ITC-04 for the quarter July-September, 2017 25.10.2017 ; GSTR-4 for the quarter July-September, 2017 From 18.10.2017 To 24.12.2017; GSTR-5 for July, 2017 To 20.08.2017 or 7 days from the last date of registration whichever is earlier 11.12.2017; GSTR-5A for July, 2017 20.08.2017 To 15.12.2017; GSTR-6 for July, 2017 13.08.2017 To 31.12.2017; TRAN-1 30.09.2017 To 31.12.2017 (One-time option of revision also to be given till this date)

7.*Taxpayers with annual aggregate turnover uptoRs. 1.5 crore* need to file GSTR-1 on quarterly basis as per following frequency:- Jul- Sep 31st by Dec 2017; Oct- Dec 15th by Feb 2018; Jan- Mar 30th by April 2018

8. *Taxpayers with annual aggregate turnover more than Rs. 1.5 crore* need to file GSTR-1 on monthly basis as per following frequency: -Jul- Oct 31st by Dec 2017; Nov by 10th Jan 2018; Dec by 10th Feb 2018; Jan 10th by Mar 2018; Feb 10th by Apr 2018; Mar 10th by May 2018

29/10/2017

As per Notification No. 42/2017-Integrated Tax (Rate) dated 27-10-2017: Supply of services having place of supply in Nepal or Bhutan, against payment in Indian Rupees is Notified as NIL rated.

Regards
RAYS ADVISORS

28/10/2017

*GST Update*
Notification Issued Today

*Cancellation of Migrated Dealer*
*Filing of REG-29*
*Up to 31st December 2017* Notification No. 51 Central tax
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-51-central-tax-english.pdf

*Filing of ITC-01*
*Up to 30th November 2017* Notification No. 52 Central tax
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-52-central-tax-english.pdf

*Filing of ITC-04*
*Up to 30th November 2017* Notification No. 53 Central tax
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-53-central-tax-english.pdf

*Filing of TRAN-1*
*Up to 30th November 2017*, Order No. 7 & 8/2017 GST

http://www.cbec.gov.in/resources//htdocs-cbec/gst/order7-cgst.pdf
http://www.cbec.gov.in/resources//htdocs-cbec/gst/order8-cgst.pdf

*Filing of REG-26*
*Up to 31st December 2017*, Order No. 6/2017 GST

http://www.cbec.gov.in/resources//htdocs-cbec/gst/order6-cgst.pdf
*Filing of CMP-03*
*Up to 30th November 2017*, Order No. 5/2017 GST
http://www.cbec.gov.in/resources//htdocs-cbec/gst/order5-cgst.pdf

28/10/2017

Following are the new features made available on the GST Portal:



1) Order of the help topics

2) Change of GST Law header, now it is pointing to CBEC and States sites

3) Added the new footer About GST, which has the details of GST Council Structure and GST history

4) Important dates on the landing page have been changed

5) Help links for GSTR-1A and ITC 04

6) CMP-03: Intimation of details of stock on date of opting for composition levy

7) CMP-02 : Opt for composition as per new notification

8) GSTP Processing (Note: API for model 1 states have not been released)

9) GSTR-2 Offline export to Excel

28/10/2017

Order for Extension of Due Date for TRAN-1 issued dated 28-10-2017 vide Order No.07/2017-GST

Regards
RAYS ADVISORS