Ankita Khetan | Nov 10, 2017 |
CBEC releases press release on recommendations of 23rd GST Council meeting
10th November, 2017
Recommendations made by the GST Council in the 23rd meeting at Guwahation 10th November, 2017
The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, hasrecommended the following facilitative measures for taxpayers:
a) The return filing process is to be further simplified in the following manner:
i. All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20thof the succeeding month till March, 2018.
ii. For filing of details in FORM GSTR-1 till March 2018, taxpayers would be dividedinto two categories. Details of these two categories along with the last date of filingGSTR 1 are as follows:
(a)Taxpayers with annual aggregate turnover upto Rs. 1.5 crore need to file GSTR-1 on
quarterly basis as per following frequency:
(b) Taxpayers with annual aggregate turnover more than Rs. 1.5 crore need to fileGSTR-1 on monthly basis as per following frequency:
iii. The time period for filing GSTR-2 and GSTR-3 for the months of July, 2017 to March2018 would be worked out by a Committee of Officers. However, filing of GSTR-1will continue for the entire period without requiring filing of GSTR-2 & GSTR-3 forthe previous month / period.
b) A large number of taxpayers were unable to file their return in FORM GSTR-3B within duedate for the months of July, August and September, 2017. Late fee was waived in all suchcases. It has been decided that where such late fee was paid, it will be re-credited to theirElectronic Cash Ledger under Tax head instead of Fee head so as to enable them to usethat amount for discharge of their future tax liabilities. The software changes for this would bemade and thereafter this decision will be implemented.
c) For subsequent months, i.e. October 2017 onwards, the amount of late fee payable by ataxpayer whose tax liability for that month was NILwill be Rs. 20/- per day (Rs. 10/- per dayeach under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each underCGST & SGST Acts).
d) A facility for manual filing of application for advance ruling is being introduced for the timebeing.
e) Exports of services to Nepal and Bhutan have already been exempted from GST. It has nowbeen decided that such exporters will also be eligible for claiming Input Tax Credit in respectof goods or services used for effecting such exempt supply of services to Nepal and Bhutan.
f) In an earlier meeting of the GST Council, it was decided to exempt those service providerswhose annual aggregate turnover is less than Rs. 20 lakhs (Rs. 10 lakhs in special categorystates except J & K) from obtaining registration even if they are making inter-State taxablesupplies of services. As a further measure towards taxpayer facilitation, it has been decided toexempt such suppliers providing services through an e-commerce platform from obtainingcompulsory 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 aggregateturnover does not exceed Rs. 20 lakhs (Rs. 10 lakhs in special category States except J & K).
g) Taking cognizance of the late availability or unavailability of some forms on the commonportal, it has been decided that the due dates for furnishing the following forms shall beextended as under:
Revised due dates for subsequent tax periods will be announced in due course.
h) In order to lessen the compliance burden on Foreign Diplomatic Missions / UN Organizations,
a centralized UIN will be issued to every Foreign Diplomatic Mission / UN Organization bythe Central Government and all compliance for such agencies will be done by the CentralGovernment in coordination with the Ministry of External Affairs.
2. Relevant notifications for all of the above decisions will be issued shorty, so as to beeffective from 15.11.2017.
You may also like :
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
