GST with CA Ashu Garg

24/10/2017

To facilitate taxpayers, late fee on filing of GSTR-3B for Aug&Sept has been waived. Late fee paid will be credited back to taxpayer ledger.

14/10/2017

You might have received complaint about late fee being applied in case of Sept month 3B. This is not for any delay on filing of Sept month as we have not reached 20th Oct. It is on account of late filing of return for previous period.


The system does entry into ledgers from 3B return on the date on which return is submitted (entries get frozen). The late fee till that date is applied, if date of submission is later than the last date of filing. In case the return is filed later than the date of filing then the late fee for the gap between date of filing and last date of filing return or date of submission (whichever is later) is added in the next month’s return.

In case a taxpayer had submitted last month’s return on 22nd Sept (D1) and filed the return on 26th Sept (D2), then late fee was calculated for 22nd -20th Sept and shown in the payment sheet of Sept Return (2*100*2). . The delay between date of submission (D1) and date of filing (D2) [26th -22nd Sept] amounting to 4*2*100 is to be paid by the taxpayer. The same is now being added in the return and shown to the taxpayer.

Hope this clarifies the position.

A ticker has been put on the portal explaining this. Please disseminate this to taxpayers

Thanks
Team GSTN

06/10/2017

Updates
1) Exporters from 10th and 18th of October for July and aug respective refunds to be given.
2) E wallet for all exporter and notional refund will be given as credit and tax can be paid from it and will start from April 2018 onwards
3) Merchant Exporters will pay at 0.1 percent
4) All prevailing benefit before GST to continue till 31/03/2018
5) Composition Scheme limit extends to 1 cr from 75 lakhs
6) Turnover less then 1.5 crores to file quarterly returns but pay monthly
7) 4 points committee setup to report in 15 days
😎 E way Bill to defer it till 1st Jan 2018 on test basis and fully from 1st April 2018
9) RCM deferred till 31st March 2018 as of now.
10) Service Provider now not applicable for INter State
11) TDS TCS from 1/4/2018
12) Advance recvd for turnover up till 1.5 cr turnover not liable to be paid for
13) Items where reduction
Mango 12 to 5
Khakhra 12 to 5
ITC food packets 5
Unbranded namkeen 5
Unbranded Ayurvedic Medicine. 5
Rubber plastic and paper waste now 5 from 12
Man made yarn now 12 from 18
Stones other then marble now at 12
Stationery major changes
Diesel engine part 18
Pump Parts 18
E waste 5

Services :
Job work Food items Printing Items will now be reduced to 5 percent
Govt Contracts and irrigation project with high labour @5
Leasing abetted by 35 percent so only 65 to be charged if before 1/7

06/10/2017

Gst Council 22nd meeting update:
1. Turnover for composition scheme raised from ₹75 Lakhs to ₹ 1 crores.
2. E-way bill provisions deferred till April 2018.
3. Reverse charge U/s 9(4)/5(4) to be deferred till 31.03.2018.
4. Quarterly returns for taxpayers with annual turnover less than ₹1.5 crores.

06/10/2017

GST Return is now required to file Quarterly....
For businesses having Turnover upto 1.5 crores....

05/10/2017

*GSTR 1 of August 2017*

As per the Official twitter handle of the GoI for queries on GST , The dates for filling GSTR -1 for the month of August 2017 is yet to be announced and the tentative date is after the last date for filling of GSTR -3 for the month of July 2017.

Source:

“Dates r yet to be announced but it will be after last date for filing of GSTR-3 for July 2017. https://t.co/aDqR6uoGVE”

30/09/2017

29/09/2017

Quarterly GST returns may be for Small Firms.

Govt is considering a proposal from the industry to allow small firms to file quarterly returns even as they pay taxes on a monthly basis under the Goods and Services Tax (GST) regime. discussions were on regarding the threshold limit for small firms who could be granted such a relaxation