FAQ – 12

FAQ -12: My turnover during the period July 2017 to March 2018 is Rs 71.25 Lacs and basis of the Notification No 12/2017-Central Tax dated 28th June 2017, i have not shown HSN Codes on the Tax Invoice. In the Annual Return do i need to show the HSN Summary?

The said notification is only for the purpose of display on the tax invoice and not for the Returns, so you have to show the HSN Summary in the Annual Return, We need to wait and see if it is Mandatory or Optional when it is made available.

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Checklist to be followed before filing GST Returns for the month of September 2018

One of the main features of Goods and Service Tax is the availability of the Input Tax Credit across the supply chain cycle. This statement provides very soothing sound to the trade and industry but it has certain conditions to be fulfilled to take advantage of this statement. As there is no matching for the time being as the Government has differed it, now it has become more critical to ensure that all the conditions
mentioned in the Act and Rules are fulfilled and for this, the filing of the GSTR – 3B return for the month of September 2018 is very vital.

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Extension of Due Dates for filing of FORM GSTR-1 and FORM GSTR-3B in certain cases

It has been observed that the number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished FORM GSTR-1. Non-furnishing of FORM GSTR-1 is liable to late fee and penalty as per the provisions of the GST law. In order to encourage taxpayers to furnish FORM GSTR-1, a one-time scheme to waive off late fee payable for delayed furnishing of FORM GSTR-1 for the period from July, 2017 to September, 2018 till 31.10.2018 has been launched.

In this regard, the due date for furnishing FORM GSTR-1 for the period from July, 2017 to September, 2018 has been extended till 31st October, 2018 for all registered persons having aggregate turnover above Rs 1.5 crores including the registered persons in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry). For taxpayers having aggregate turnover up to Rs 1.5 crores, the due date for furnishing FORM GSTR-1 for the quarters from July, 2017 to September, 2018 has been extended till 31st October, 2018. Notification Nos. 43 and 44/2018 – Central Tax dated 10th September, 2018 have been issued in this regard. For registered persons having aggregate turnover up to Rs 1.5 crores in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry), the due date for furnishing FORM GSTR-1 for the quarter July, 2018 to September, 2018 would continue to remain as 15th November, 2018 as notified vide notification No. 38/2018-Central Tax dated 24th August, 2018.

Further, for those taxpayers who will now be migrating to GST as per the procedure specified in notification No. 31/2018-Central Tax, dated 06.08.2018, the last date for furnishing the details of outward supplies of goods or services or both in FORM GSTR-1 and for filing the return in FORM GSTR-3B for the months of July, 2017 to November, 2018 has been extended till 31.12.2018. Notification Nos. 45, 46 and 47/2018 – Central Tax dated 10th September, 2018 have thus been issued for extension of dates for filing FORM GSTR-3B.

It is hereby clarified that as per the provisions of section 16 (4) of the Central Goods and Services Tax Act, 2017, the registered person shall not be entitled to take input tax credit in respect of any invoice after the due date of furnishing of the return for the month of September following the end of financial year to which such invoice pertains; or furnishing of the relevant annual return, whichever is earlier. The taxpayers are thus, advised to furnish their returns on time to ensure that input tax credit does not become time barred.

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DSM/RM/KA

(Release ID: 1545562) Visitor Counter : 7993

43/2018-Central Tax ,dt. 10-09-2018

44/2018-Central Tax ,dt. 10-09-2018

45/2018-Central Tax ,dt. 10-09-2018

46/2018-Central Tax ,dt. 10-09-2018

47/2018-Central Tax ,dt. 10-09-2018

48/2018-Central Tax ,dt. 10-09-2018

 

 

Error! Summary for Filing is not Generated or is not available at this time. Please try again later

Many of them are getting the “Error! Summary for Filing is not Generated or is not available at this time. Please try again later” while filing the GSTR – 1.  The error may be caused due to the database refresh issue.

This error can be removed by trying the following ways

  1. Go back to the return dashboard and then try to file the return again.
  2. Logout and log in once
  3. Try filing after some time

I have tried the first two options and it was working.

Attention taxpayers! Don’t wait for the last date, file GSTR-1, 2 and 3 within the prescribed period

The due dates for the return of GSTR have bee extended and now there are few Do’s and Dont’s issued by the Department. Please follow them.

Don’t wait for the last date, file GSTR-1, 2 and 3 within the prescribed period

 

Source : http://www.cbec.gov.in/resources//htdocs-cbec/gst/gstr.pdf

Extension of due date for filing of GST Returns

The due dates for the filing of GST Returns for the month of July and August 2017 have been extended.

Revised Dates

July 2017 Returns

GSTR – 1 : 10th Sep 2017

GSTR – 2 : 25th of Sep 2017

GSTR – 3 : 30th Sep 2017

August 2017 Returns

GSTR – 1 : 5th Oct  2017

GSTR – 2 : 10th Oct 2017

GSTR – 3 : 15th Oct 2017

 

 

 

GOOD AND SIMPLE TAX – GST FOR YOU

My third book on GST, ‘GOOD AND SIMPLE TAX – GST FOR YOU” is now available at https://notionpress.com/read/good-and-simple-tax-gst-for-you

ISBN – 9781947697737

The Goods and Service Tax rolled out in India on 1st July 2017 subsuming a plethora of taxes into a single tax and enabling input tax credit at every stage of the supply chain, thereby making the products and services cheaper to the end consumer. The rollout of GST also improves the ease of doing business in India.

The way the business is carried out in India is undergoing a major change as the terms of manufacture, purchase, sale, and service is replaced with a single word called “Supply.” The author covers all these topics like Supply, Place of Supply, Time of Supply and Valuation with easy to understand examples so that the trade and industry can benefit at large from the same and change their business practices accordingly.

“GOOD AND SIMPLE TAX – GST FOR YOU” is a written in layman’s language and it explains the complex GST requirements in a simple and lucid language with examples.

  • – CS Vasudeva Rao Devaki, DV Rao and Associates

Kindle version and e-book will be released shortly

book 3