Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Article Section
Home Articles Goods and Services Tax - GST Surabhi Bohra
← Previous Next →

Amendments made to the GST law based on 23rd GST Council Meeting

Submit New Article
 

Discuss this article

Amendments made to the GST law based on 23rd GST Council Meeting
By: Surabhi Bohra
December 4, 2017
  • Contents

The decisions taken by the GST Council in its 23 meeting has been given effect through a series of Notification and Orders. The key takeaways of the amendments with reference to the relevant notifications and orders are as follows:-

Notification No. 55/2017-Central Tax , dt. 15-11-2017

  1. Twelfth amendment to CGST Rules, 2017 was made wide this Notification.
  2. Procedure and form for Manual filing of the Refund application through GST-RFD-01 A has also been incorporated in the Rules vide this notification.

Notification No. 56/2017-Central Tax, dt. 15-11-2017

Sl No.

Month

Last date for filing of return in FORM GSTR-3B and making payment of tax

1

January, 2018

20th February, 2018

2

February, 2018

20th March, 2018

3

March, 2018

20th April, 2018

Ø  Persons having Aggregate Turnover < ` 1.5 Cr. To file GSTR-1 quarterly

Sl No.

Quarter for which the details to be furnished in GSTR-1

Time period for furnishing GSTR-1

1.

July - September, 2017

31st December, 2017

2.

October - December, 2017

15th February, 2018

3.

January - March, 2018

30th April, 2018

Ø  Persons having Aggregate Turnover > ` 1.5 Cr. To file GSTR-1 monthly

Sl No.

Month for which the details to be furnished in GSTR-1

Time period for furnishing GSTR-1

1.

July - October, 2017

31st December, 2017

2.

November, 2017

10th January, 2018

3.

December, 2017

10th February, 2018

4.

January, 2018

10th March, 2018

5.

February, 2018

10th April, 2018

6.

March, 2018

10th May, 2018

Extended due dates for various Returns

Sl.No

Type of Return

For the month

Due Date

Notification No.

1.

GSTR-4

July to September’2017

24th December, 2017

Notification No. 59/2017 – Central Tax dated 15-11-2017

2.

GSTR-5

July, August, September and October, 2017.

11th December, 2017

Notification No. 60/2017 – Central Tax dated 15-11-2017

3.

GSTR-5A

July, August, September and October, 2017.

15th December, 2017

Notification No. 61/2017 – Central Tax dated 15-11-2017

4.

GSTR-6

July, 2017

31st December, 2017

Notification No. 62/2017 – Central Tax dated 15-11-2017

5.

GST ITC-04

July to September, 2017

31st December, 2017

Notification No. 63/2017 – Central Tax dated 15-11-2017

Sl.No.

Particulars

Late fee payable

1.

Late fees payable on late filing of GSTR- 3B from October, 2017 onwards

Ø ` 25 per day during which failure continue under both CGST and SGST individually

Ø ` 10 per day during which failure continues if central/state tax payable is Nil

Suppliers making supply of service through E-Commerce operator shall not obtain registration in the state/special category state if:-

(a)    Aggregate turnover is < ` 20 lacs/10 lacs ;

(b)   Ecommerce Operator not liable to collect TCS.

Notification No. 66/2017 – Central Tax dated 15-11-2017

Ø A registered (not a composite dealer) supplier of taxable goods shall not be liable to pay tax on advances.

Extension for filing Tran-1

Sl.no

Type of Return

Due Date

Order No.

1.

TRAN-1 (original)

27th December, 2017.

Order No. 9/2017-GST dated 15th November, 2017

2.

TRAN-1 (Revised)

Order No. 10/2017-GST dated 15th November, 2017

Ø  Amended Notification no. 1/2017- Central Tax (Rate) dated 28.06.2017 changing the tax rates on various goods.

Ø  GST rates on goods like chocolate, Marble and travertine, other than blocks, granite, tar distilled from other mineral tars, perfumes and toilet waters, beauty or make-up preparations, soap, lubricating preparations, leather articles, ply board, wall paper, artificial flowers, etc. has been reduced from 28% to 18%.

Notification No 42/2017- Central Tax (Rate) & Notification No. 44/2017- Integrated Tax (Rate) dated 14.11.2017 to be effective from 15.11.2017

Ø  Amended Notification No. 2/2017- Central Tax (Rate) dated 28.06.2017 to provide further exemptions to certain goods and also to rationalize certain exemptions provided earlier.

Ø  Exemption has been extended to goods like manioc, arrowroot, salep, Jerusalem artichokes, sweet potatoes and similar roots and tubers with high starch or inulin content, dried makhana, guar meal, uranium ore concentrate, bangles of lac/shellac, coconut shell, Hop cones with certain conditions.

Notification No 43/2017- Central Tax (Rate) & Notification No. 45/2017- Integrated Tax (Rate) dated 14.11.2017 to be effective from 15.11.2017

Ø  Purchase of Raw cotton from an agriculturist to attract tax under Reverse charge mechanism. The recipient to pay tax to the Government.

Notification No 44/2017- Central Tax (Rate) & Notification No. 46/2017- Integrated Tax (Rate) dated 14.11.2017 to be effective from 15.11.2017

 

Sl.No.

HSN Heading

Goods

Effect

1.

5608

Knotted netting of twine, cordage or rope; made up fishing nets and other made up nets, of textile materials

No refund of unutilised ITCshall be allowed, accumulated on account of rate of tax on inputs being > the rate of tax on the output supplies of such goods

2.

5801

Corduroy fabrics

3.

5806

Narrow woven fabrics, other than goods of heading 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs)

Goods

Recipient

Concessional Rate

(a) Scientific and technical instruments, apparatus, equipment (including computers);

(b) Accessories, parts, consumables and live animals (experimental purpose);

(c) Computer software, CD-ROM, recorded magnetic tapes, microfilms, microfiches;

(d) Prototypes, the aggregate value of prototypes received by an institution < ₹ 50000 in F.Y.

Public funded research institution other than a hospital

5%

University

Indian Institute of Technology

Indian Institute of Science, Bangalore

National Institute Technology/ Regional Engineering College

Research institution, other than a hospital

Departments and laboratories of the Central Government and State Governments, other than a hospital

Goods mentioned in (a), (b) & (c)

Regional Cancer Centre (Cancer Institute)

Sl.No.

Services

Rate

Condition

1.

Standalone Restaurants/mess/canteen (whether dine in or take away)

5%

No ITC

2.

Restaurants in Hotels, hotels, inns, guest houses, clubs, campsites or other commercial places  having declared tariff < `7500

5%

No ITC

3.

Restaurants in Hotels, hotels, inns, guest houses, clubs, campsites or other commercial places  having declared tariff > ` 7500

18%

With ITC

4.

Manufacture of handicrafts

5%

With ITC

A. Consolidation of exemption:

Ø To Fair price shops providing services to Central/State Government/ Union Territory local authority by way of sale of food grains, kerosene, sugar, edible oil, etc. under Public Distribution System against consideration in the form of commission or margin.

B . Exemption has been provided to the following service-

Ø Services by way of admission to a protected monument so declared under the Ancient Monuments and Archaeological Sites and Remains Act 1958.

 

By: Surabhi Bohra - December 4, 2017

 

 

Discuss this article

 
← Previous Next →
Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version