Recent changes in GST
By: – Ashwarya Agarwal
Goods and Services Tax – GST
Dated:- 22-11-2017<\/p>\n
Liability for Registration
\n1. Threshold exemption of 20 Lac still remains the same subject to no inter-state supply.
\nHowever an exemption has been given vide Not. 10\/2017-CT which prescribes that persons making inter-State supplies of taxable services and having an aggregate turnover, to be computed on all India basis, not exceeding an amount of twenty lakh rupees in a financial year as the category of persons exempted from obtaining registration including inter-state supply;
\nFiling of Return
\n2. Types of Returns to be filed
\nSl.
\nReturn
\nDescription
\nPeriod
\n *
\n GSTR 3B
\n Provisional Return
\nMonthly
\n GSTR 1
\n Details of OUTWARD
\n Monthly \/ Quarterly
\n GSTR 2
\n Details of INWARD
\n Monthly \/ Quarterly
\n GSTR 3
\n Final Return
\n Monthly \/ Quarterly
\n GSTR 4
\n Composition Return
\nQuarterly
\n GSTR 5
\n Non-Resident TP
\nMonthly
\n GSTR 6
\n Input Service Distributor
\nMonthly
\n3. GS<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n b. Annual Aggregate T\/O more than 1.5 Crore – MONTHLY basis: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n far as the consideration is represented by way of interest or discount. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Recent changes in GSTBy: – Ashwarya AgarwalGoods and Services Tax – GSTDated:- 22-11-2017 Liability for Registration 1. Threshold exemption of 20 Lac still remains the same subject to no inter-state supply. However an exemption has been given vide Not. 10\/2017-CT which prescribes that persons making inter-State supplies of taxable services and having an aggregate turnover, … Continue reading “Recent changes in GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-9144","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/9144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9144"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/9144\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nSl.
\nPeriod 2017-18
\nDates
\n *
\n July – October
\n31st December 2017
\nNovember
\n10th January 2018
\nDecember
\n10th February 2018
\nJanuary
\n10th March 2018
\nFebruary
\n10th April 2018
\nMarch
\n10th May 2018
\n7. Filling of FORM GSTR-2 and FORM GSTR-3 for the period 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 as mentioned above without requiring filing of GSTR-2 & GSTR-3 for the previous month \/ period. (Not. 57 & 58\/2017-CT)
\n8. Extension of following due dates:
\n\tSl
\n\tFORM and Details
\n\tOriginal due date
\n\tRevised due date
\n\t1
\nTRAN-1
\n\t(Order No 09 & 10\/2017-GST)
\n\t30th September 2017
\n\t27th December 2017 (One-time option of revision also to be given till this date)
\n\t2
\n\tGSTR-4 for the quarter July – September, 2017 (Not 59\/2017-CT)
\n\t18th October 2017
\n\t24th December 2017
\n\t3
\n\tGSTR-5 for July to October, 2017 (Not. 60\/2017-CT)
\n\t20t<\/p>\n
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\nIn computing his aggregate turnover in order to determine his eligibility for composition scheme, value of supply of any exempt services including services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account.
\n12. Tax liability on Advance (Not. 66\/2017-CT)
\nExemption has been given to all the suppliers of GOODS (Except Composition Dealer) from payment of GST on Advance received from their buyer. This exemption is not applicable to any advance received before 15th November 2017.
\nEarlier this exemption was given only to small units having T\/O less than 1.5 crore.
\n Export Refund
\n13. rate of 0.10% on procurement of goods for export, subject to compliance of procedure as laid down in Not. 40\/2017-CT(R );
\n14. Details of export to be filed in Table 6A of Form GSTR 1 after filing of form GSTR 3B for every month;\n<\/p>\n
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