Dated 7th September, 2017

Recommendation and extension in timeline for submission of GST returns

Recommendation and extension in timeline for submission of GST returns


Backdrop

With the constant problems experienced by the tax payers during the return filing process of GSTR 1 the Government has now come up with the new extended deadlines for the filing of GST returns for the month of July and subsequent months.

In the middle of the rush faced by tax payers to complete the GSTR 1 filing for the month of July 2017, the GST council met on 9th September, 2017 at Hyderabad for its 21st meeting. The GST Council dealt on various issues faced by the tax payers to ease the compliances process for them.

Key recommendations of the meetings

We have summarized the key recommendations by the Council as follows:-

Revised due dates for GST returns for the month of July 2017

Returns Class of taxable/registered persons Revised dates
GSTR 1 - Outward supplies1 Turnover up to INR 100 crore
Turnover exceeding INR 100crore
3rd October, 2017
10th October, 2017
GSTR2 - Inward supplies1 31st October, 2017
GSTR 3 -Monthly / Final1 10th November, 2017
GSTR4 - Quarterly return for composition taxpayers1 18th October, 2017
GSTR6 - Monthly Return2 Input Service Distributor 13th October , 2017

The revised timelines for submission of GST returns for the subsequent periods would be notified in due course of time.

GSTR - 3B

Form GSTR 3B is to be filed on a monthly basis for the months of August,2017 to December, 2017 on or before 20th of the following month.3

Extension in the date of filing Form TRAN – 1

The due date for submission of Form TRAN – 1 has now been revised to 31stOctober, 2017 One-time revision of Form TRAN – 1 statement has also been made permissible by the GST council.3

Registration for Tax Deducted at Source and Tax Collected at Source

The Council has decided that registrations process for persons liable to deduct or collect GST will commence from 18th September 2017. The date from which the provisions for deduction or collection of GST will commence is yet to be notified.

Extension in date to opt for composition scheme

All the migrated or new registrants have been provided with the option to opt for composition scheme, within a time period of 30th September, 2017.3

Other important decisions

Additional compensation cess of 2% on mid-sized cars, 5% on the large cars and 7% on SUVs has been proposed to be levied by GST Council. The date of implementation of the additional cess is yet to be notified.

Job-workers making inter-State supplies of job work services to a registered person are exempted from obtaining GST registration provided that the goods move under the cover of an e-way bill irrespective of the threshold limit of value of consignment. However, job-workers providing services relating to jewellery, goldsmiths and silversmiths would not be eligible for the exemption from registration, as transportation of these goods does not require an e-way bill.3

Conclusions

Although the new extended deadlines has been provided for the GST return filing but no extension has been provided for the time limit for the payment of tax. Hence, the liability to discharge the payment obligation under GST remains unchanged i.e. on or before 20th of the following month.

The main agenda of the GST council meet was to resolve the technology related issues faced by the tax payers, the GST Council has also decided to constitute a committee of ministers for resolving all such problems relating implementation of GST.


1 NotificationNo. 30/2017- CGST Rule, 2017

2 NotificationNo. 31/2017- CGST Rule, 2017

3 Yet to be notified.


Recommendation and extension in timeline for submission of GST returns

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Recommendation and extension in timeline for submission of GST returns

Introduction of E-way bill, an improvement over its former
Founder Member

Bhaskar Thakkar

Chief Executive officer

BT Associates, India

thakkar@btassociate.com

Twenty years of exprience in tax practice, specialist in structuring & planing and tax optimization under indirect tax. Lead eastern India indirect tax practice of Ernst & Young in past.