Significant Changes in GST compliance (23rd GST Council Meet)
By: – Manish Didwania
Goods and Services Tax – GST
Dated:- 20-11-2017
These Changes shall be effective prospectively from November 15, 2017
Relaxation in GST returns filing
a. GSTR-1
S. No.
Period
Due Dates
For registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year
1
Monthly
July – October, 2017
31st December, 2017
2
Monthly
November, 2017
10th January, 2018
3
Monthly
December, 2017
10th February, 2018
4
Monthly
January, 2018
10th March, 2018
5
Monthly
February, 2018
10th April, 2018
6
Monthly
March, 2018
10th May, 2018
The registered persons having agg
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ll registered person shall file GSTR 3B on or before of 20th of next month – Upto March 31, 2018
Jan – Feb 20, 2018
Feb – March 20, 2018
March – April 20, 2018
f. GST Tran 1
* GST Tran 1 – 27th Dec 2017
* Revised GST Tran 1 – 27th Dec 2017
No GST on advance payment
* Seeks to exempt all taxpayers from payment of tax on advances received in case of supply of goods
Late filing fees – GSTR-3B
* Late Fee credit – Late fees for GSTR-3B of July, Aug and Sept waived. Any late fees paid for these months will be credited back in Electronic Cash Ledger under 'Tax' and can be utilized to make GST payments.
* October onward ₹ 25 per day and where tax amount payable is nil, it is ₹ 10 per day.
Reply By Ganeshan Kalyani a
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