Significant Changes in GST compliance  

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

These Changes shall be effective prospectively from November 15, 2017

Relaxation in GST returns filing

  1. GSTR 1

 

S. No.PeriodDue Dates
For registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year
1MonthlyJuly – October, 201731st December, 2017
2MonthlyNovember, 201710th January, 2018
3MonthlyDecember, 201710th February, 2018
4MonthlyJanuary, 201810th March, 2018
5MonthlyFebruary, 201810th April, 2018
6MonthlyMarch, 201810th 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
1QuarterlyJuly – September, 201731st December, 2017
2QuarterlyOctober – December, 201715th February, 2018
3QuarterlyJanuary – March, 201830th April, 2018
  1. GSTR 2 and GSTR 3

For the period – July to March 2018

Due dates for filing of GSTR 2 and GSTR3 dates will be notified late on.

 

  1. GSTR 4 (for Composition dealer)

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

 

 

  1. 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.

 

 

  1. 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

 

  1. 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 Rs 50 per day and where tax amount payable is nil, it is Rs. 20 per day.

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