Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 13-9-2017 – GST Council (GSTC) which met at Hyderabad on 9th September, 2017 for 21st time took may decisions, major ones being hike in Compensation Cess on automobiles (motor cars) and extension of return filing dates for July, 2017. Following are the key decisions taken by GSTC: Return Form GSTR-3B will continue for six months, i.e. upto December, 2017 Renewed return dates (as on 09.09.2017) for July, 2017: GSTR-1 10th October, 2017 (others) GSTR-1 3rd October, 2017 (with > ₹ 100 crore turnover) GSTR-2 31st October, 2017 GSTR-3 10th November, 2017 GSTR-4 18th October, 2017 GSTR-6 13th October, 2017 TRANS-1 31st October, 2017 Time frame for returns for August / September, 2017 to be announced later. Option to choose composition scheme can be availed till 30th September, 2017 which can be availed from 1st October, 2017. Registration of persons liable to be registered for TDS and TCS shall commence on 18th Septe
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m 2% to 7% except electric cars, hybrid cars and small cars to be effective from 11.09.2017: Small cars, 13-seater vehicles & hybrid cars : No change Mid-size cars : Cess increased by 2% Large cars: Cess increased by 5% SUV's : Cess increased by 7% GST on construction services (works contracts for public structures) for Government reduced from 18% to 12%. Handicraft traders below turnover of ₹ 20 lakhs having inter-state supplies need not register for IGST. Supply of heavy and nuclear fuel by Department of Atomic Energy to NPCIL exempt from GST. Changed timelines for GST Returns The relaxation in dates for filing various returns under GST for July is also a major decision and the following table indicates the revised timelines for returns pertaining to July, 2017 Details / Return Tax Period Revised due date GSTR-1 July, 2017 10.10.2017 GSTR-1 (turnover > ₹ 100 crore) July, 2017 03.10.2017 GSTR-2 July, 2017 31.10.2017 GSTR-3 July, 2017 10.11.2017 GSTR-4 July-Septe
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ransport of not more than thirteen persons, including the driver [falling under sub-headings 8702 10, 8702 20, 8702 30 or 8702 90] 8702 15% No change Hybrid Mid Segment Cars (engine < 1500 cc) 8703 15% No change Hybrid Large Cars (engine > 1500 cc) 8703 15% No change Hybrid Sports Utility Vehicles (length > 4m ; engine > 1500 cc; ground clearance > 170 mm) 8703 15% No change Key GST rate variations in select items S.No. HSN Description Earlier GST Rate Revised GST Rate 1. 2106 Roasted Gram 12% 5% 2. 2106 Butters, including idli / dosa batter 18% 12% 3. 3307 4100 Dhoop batti, dhoop, sambhrani and other similar items 12% 5% 4. 3926 Medical grade sterile disposable gloves of plastics 28% 18% 5. 50 to 55 Khadi fabric, sold through Khadi and Village Industries Commission's outlets 5% Nil 6. 5808 Saree fall 12% 5% (with no refund of ITC) 7. 44, 68, 83 Idols of wood, stone (including marble) and metals (other than those made of precious metals) 28% 12% 8. 7102 Rough industr
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