Significant Changes in GST compliance (23rd GST Council Meet)

[Manish Didwania]

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 aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year
1	Quarterly	July - September, 2017	31st December, 2017
2	Quarterly	October - December, 2017	15th February, 2018
3	Quarterly	January - March, 2018	30th April, 2018

b. GSTR 2 and GSTR 3

For the period - July to March 2018

Due dates for filing of GSTR 2 and GSTR 3 dates will be notified late on.

c. GSTR 4 (for Composition dealer)

July to September 2017- 24th day of December, 2017

d. GSTR 6 (for Input Service Distributer)

July 2017 - December 31, 2017

August, 2017, September, 2017 and October, 2017 - the extension of the time limit for furnishing the return for these months shall be subsequently notified.

e. GSTR 3B

All 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.

Discussions to this article

[Ganeshan Kalyani]

GST on advance received is exempted for registered person other than composition dealer. So if composition dealer receives any advance from his customer then he need to deposit tax on such advance. Thanks.