Extension of date for filing return in FORM GSTR-1

Extension of date for filing return in FORM GSTR-1 

The last date for filing of return in FORM GSTR-1 for all taxpayers for the relevant periods, as shown in the Table below, has been extended to 10^th January, 2018.

Table

Sl. No.	Class of Taxpayer	Return	Previous last date	Revised last date
1	Registered  persons having Aggregate turnover of up to 1.5 crore rupees in the preceding financial year or  the  current  financial  year	Quarterly return in FORM GSTR-1 for July – September, 2017	31stDecember, 2017	10thJanuary, 2018
2	Registered  persons  having aggregate turnover  of  more  than  1.5 crore  rupees in  the  preceding  financial  year  or  the  current  financial  year	Monthly returns in FORM GSTR-1 for July-October, 2017	31stDecember, 2017	10thJanuary, 2018

 Source:PIB

GST Rate Changes For The Items (178) From November 15,2017

GST Rate Changes For The Items (178) From November 15,2017

GST Rate Changes Come into effect on 178 items where rate has been brought down from 28% to 18%; Consumers may take note of reduction in Price/MRP on these Goods 

In the 23rd meeting held on the 10th November, 2017, the GST Council had recommended major relief in GST rates on certain goods. These rate changes have been brought into effect from the 15th November, 2017. On 178 items the GST rate has been brought down from 28% to 18%. With reduction of rate coming into effect, a consumer shall be charged the revised reduced rates of 18% on these items with effect from the 15th November, 2017. Accordingly, there would be a corresponding reduction in price/MRP on these goods. Consumers may take note of these reduction while making purchases.

Broadly these items are grouped as follows:

v  Wires, cables, insulated conductors, electrical insulators, electrical plugs, switches, sockets, fuses, relays, electrical connectors

v  Electrical boards, panels, consoles, cabinets etc for electric control or distribution

v  Particle/fibre boards and ply wood; articles of wood, wooden frame, paving block

v  Furniture, mattress, bedding and similar furnishing

v  Trunk, suitcase, vanity cases, brief cases, travelling bags and other hand bags, cases

v  Detergents, washing and cleaning preparations

v  Liquid or cream for washing the skin

v  Shampoos; Hair cream, Hair dyes (natural, herbal or synthetic) and similar other goods; henna powder or paste, not mixed with any other ingredient;

v  Pre-shave, shaving or after-shave preparations, personal deodorants, bath preparations, perfumery, cosmetic or toilet preparations, room deodorisers

v  Perfumes and toilet waters

v  Beauty or make-up preparations

v  Fans, pumps, compressors

v  Lamp and light fitting

v  Primary cell and primary batteries

v  Sanitary ware and parts thereof, of all kinds

v  Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic

v  Slabs of marbles and granite

v  Goods of marble and granite such as tiles

v  Ceramic tiles of all kinds

v  Miscellaneous articles such as vacuum flasks, lighters

v  Wrist watches, clocks, watch movements, watch cases, straps, parts

v  Articles of apparel & clothing, accessories of leather, guts, furskin, artificial fur and other articles such as saddlery and harness for any animal

v  Articles of cutlery, stoves, cookers and similar non electric domestic appliances

v  Razor and razor blades

v  Multi-functional printers, cartridges

v  Office or desk equipment

v  Doors, windows and frames of aluminium

v  Articles of plaster such as board, sheet

v  Articles of cement or concrete or stone and artificial stone

v  Articles of asphalt or slate

v  Articles of mica

v  Ceramic flooring blocks, pipes, conduit, pipe fittings

v  Wall paper and wall covering

v  Glass of all kinds and articles thereof such as mirror, safety glass, sheets, glassware

v  Electrical, electronic weighing machinery

v  Fire extinguishers and charges for fire extinguishers

v  Fork lifts, lifting and handling equipment

v  Bull dozers, excavators, loaders, road rollers

v  Earth moving and levelling machinery

v  Escalators

v  Cooling towers, pressure vessels, reactors

v  Crankshaft for sewing machine, tailor’s dummies, bearing housings, gears and gearing; ball or roller screws; gaskets

v  Electrical apparatus for radio and television broadcasting

v  Sound recording or reproducing apparatus

v  Signalling, safety or traffic control equipment for transports

v  Physical exercise equipment, festival and carnival equipment, swings, shooting galleries, roundabouts, gymnastic and athletic equipment

v  All musical instruments and their parts

v  Artificial flowers, foliage and artificial fruits

v  Explosive, anti-knocking preparation, fireworks

v  Cocoa butter, fat, oil powder

v  Extract, essence and concentrates of coffee, miscellaneous food preparations

v  Chocolates, chewing gum / bubble gum

v  Malt extract and food preparations of flour, groats, meal, starch or malt extract

v  Waffles and wafers coated with chocolate or containing chocolate

v  Rubber tubes and miscellaneous articles of rubber

v  Goggles, binoculars, telescope

v  Cinematographic cameras and projectors, image projector

v  Microscope, specified laboratory equipment, specified scientific equipment such as for meteorology, hydrology, oceanography, geology

v  Solvent, thinners, hydraulic fluids, anti-freezing preparation

Source:PIB

GST SEVA KENDRAS

GST SEVA KENDRAS 

GST Seva Kendras have been set up since July 1 at three locations in the city. For details, contact: 044-4330066/26142852

Source:The Hindu

Excel Template for Easy to Tax Payers(GST)

Excel Template for Easy to Tax Payers(GST)

GSTN unveils excel template for to help taxpayers perform easy data entry offline before uploading on the GST portal; Excel template together with an offline tool will make uploading large numbers of invoices much easier and quick; Offline Tool to be unveiled on July 17, 2017. 

Goods and Services Network (GSTN) has unveiled a simple excel based template that will facilitate the taxpayers in preparing and filing their monthly returns with maximum ease and minimal cost. 

The excel template is a part of GST Council’s approach to make tax compliance highly easy and convenient for taxpayers and also reduce the time of compliance to improve ease of doing business. This excel workbook template can be freely downloaded from the GST Common portal (www.gst.gov.in), and can be used by taxpayers to collate all invoice related data on a regular basis. 

The Excel format can be used by businesses to start maintaining their data. The taxpayer can prepare the details of his outward supply on weekly or any other suitable regular interval which can then be uploaded on GST portal on or before the 10th of subsequent month. The GSTR1 excel template workbook can be used to prepare the data for GSTR 1 return without connecting to internet in offline mode. This also benefits taxpayers in remote areas where Internet connectivity might not be good. 

The template comprises of eight worksheets. Summary of key values in each worksheet has been provided at the top to help taxpayers easily reconcile the data entered in the worksheets with that recorded in his accounting system/books to accurately prepare the return. Based on data entered in the Excel sheet, offline tool will prepare a file which will have to be uploaded by the taxpayer on GST Portal to create GSTR-1. Only while uploading the file on the GST portal, Internet connectivity will be required. 

Source:PIB

TDS (Section 51) and TCS ( Section 52) of the CGST / SGST Act 2017 -POSTPONMENT

TDS (Section 51) and TCS ( Section 52) of the CGST / SGST Act 2017  -POSTPONMENT

Postponement of provision relating to TDS (Section 51) and TCS ( Section 52) of the CGST / SGST Act 2017 

With the objective of ensuring smooth rollout of GST and taking into account the feedback received from the trade and industry regarding the provisions of deduction of tax at Source under Section 51 of the CGST / SGST Act 2017 and collection of tax at source under Section 52 of the CGST / SGST Act 2017, the following has been decided :-

1. The provisions of Tax Deduction at Source (Section 51 of the CGST / SGST Act 2017) and Tax Collection at Source (Section 52 of the CGST/SGST Act, 2017) will be brought into force from a date which will be communicated later.

2. Persons who will be liable to deduct or collect tax at source will be required to take registration, but the liability to deduct or collect tax will arise from the date the respective sections are brought in force.

3. The persons who were liable to be registered under clause (ix) of Section 24 of the CGST / SGST Act, 2017 (as they were supplying goods or services through electronic commerce operator who is required to collect tax at source under Section 52) will not be liable to register till the provision of Tax Collection at Source is brought under force. In other words, persons supplying goods or services through electronic commerce operator liable to collect tax at source would not be required to obtain registration immediately, unless they are so liable under Section 22 or any other category specified under Section 24 of the CGST / SGST Act, 2017 .

This step has been taken to provide more time for persons liable to deduct tax at source / E-Commerce Companies and their suppliers to prepare for the historic tax reform.

Source:PIBNEWS

Reduced Tax Liabilities under GST regime in comparison to present combined Indirect Tax rates

Reduced Tax Liabilities under GST regime in comparison to present combined Indirect Tax rates 

The new indirect tax regime in the country is to come into effect from 01.07.2017, wherein fixation of GST rates on the supplies is joint responsibility of the Central and State governments after the approval from the GST Council.

In a majority of supplies of goods, the tax incidence approved by the GST Council is much lower than the present combined indirect tax rates levied [on account of central excise duty rates / embedded central excise duty rates / service tax post-clearance embedding, VAT rates or weighted average VAT rates, cascading of VAT over excise duty and tax incidence on account of CST, Octroi, Entry Tax, etc.] by the Centre and States.

 A list of such supplies, where the GST incidence is lower than the present combined indirect tax rates are reflected as under:

S.  No.	Chapter / Heading / Sub-heading / Tariff item	Description of goods
1	4	Milk powder
2	4	Curd, Lassi, Butter milk put up in unit container
3	4	Unbranded Natural Honey
4	0401	Ultra High Temperature (UHT) Milk
5	0405	Dairy spreads
6	0406	Cheese
7	801	Cashew nut
8	806	Raisin
9	9	Spices
10	9	Tea
11	10	Wheat
12	10	Rice
13	11	Flour
14	15	Soyabean oil
15	15	Groundnut oil
16	15	Palm oil
17	15	Sunflower oil
18	15	Coconut oil
19	15	Mustard Oil
20	15	Sunflower oil
21	15	Other vegetable edible oils
22	17	Sugar
23	1702	Palmyra jaggery
24	1704	Sugar confectionery
25	1902	Pasta, spaghetti, macaroni, noodles
26	20	Fruit and vegetable items and other food products
27	2001, 2004	Pickle, Murabba, Chutney
28	21	Sweetmeats
29	2103	Ketchup & Sauces
30	2103 30 00	Mustard Sauce
31	2103 90 90	Toppings, spreads and sauces
32	2106	Instant Food Mixes
33	2106	Other pulses bari (mungodi)
34	22	Mineral water
35	2201 90 10	Ice and snow
36	25	Cement
37	27	Coal
38	27	Kerosene PDS
39	27	LPG Domestic
40	30	Insulin
41	33	Agarbatti
42	33	Tooth powder
43	33	Hair oil
44	33	Toothpaste
45	3304 20 00	Kajal [other than kajal pencil sticks]
46	34	Soap
47	37	X ray films for medical use
48	3822	Diagnostic kits and reagents
49	3926 90 99	Plastic Tarpaulin
50	4202	School Bag
51	4820	Exercise books and note books
52	4823	Kites
53	4903	Childrens' picture, drawing or colouring books
54	50	Silk fabrics
55	51	Woollen fabrics
56	52	Cotton fabrics not containing any other textile material
57	53	Other Vegetable yarn fabrics
58	54, 55	Manmade filament/fibre fabrics
59	61, 62, 63	Readymade garments and made up articles of textiles of sale value not exceeding Rs. 1000 per piece
60	61, 62, 63	Readymade garments and made up articles of textiles  of sale value exceeding Rs. 1000 per piece
61	64	Footwear of RSP upto Rs. 500 per pair
62	64	Other footwear
63	65	Helmet
64	65	Headgear and parts thereof
65	68	Fly ash bricks and fly ash blocks
66	701510	Glasses for corrective spectacles and flint buttons
67	73	LPG Stove
68	76	Aluminium foils
69	8215	Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs
70	84	Fixed Speed Diesel Engines of power not exceeding 15HP
71	4011	Tractor rear tyres and tractor rear tyre tubes
72	8423 & 9016	Weighing Machinery [other than electric and electronic]
73	8443	Printers [other than multifunction printers]
74	8521	Recorder
75	8525	CCTV
76	8452	Sewing Machine
77	8472	Staplers
78	8703	Car for Physically handicapped person
79	8715	Baby carriages
80	900140, 900150	Spectacles Lenses
81	9002	Intraocular lens
82	9004	Spectacles, corrective
83	91	Braille Watches
84	94	Medical furniture
85	94	LED
86	94	Kerosene pressure lantern
87	9403	Bamboo furniture
88	9506	Sports goods other than articles and equipments for general physical exercise
89	96031000	Phul-jahroo

Source:PIB