Recommendations made during the 26th meeting of the GST Council held in New Delhi Today

Recommendations made during the 26th meeting of the GST Council held in New Delhi Today

  1. Return filing System

The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.

 

II.        Reverse charge mechanism 

The liability to pay tax on reverse charge basishas been deferred till 30.06.2018. In the meantime, a Group of Ministers will look into the modalities of its implementation to ensure that no inconvenience is caused to the trade and industry.

 

III.       TDS/TCS

The provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act shall remain suspended till 30.06.2018. In the meantime, the modalities of linking State and Central Governments accounting system with GSTN will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source.

 

IV.       Grievance Redressal Mechanism

GST implementation Committee (GIC) has been tasked with the work of redressing the grievances caused to the taxpayers arising out of IT glitches.

 

DSM/RM/SS

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GST Tip – 333

GSTR – 2A is an auto-populated draft inward supplies return based on the supplier of goods or services filed through GSTR – 1 (outward supplies), GSTR – 5 ( filed by non-resident taxable person), GSTR – 6 (filed by input service distributor), GSTR – 6 (filed by Tax deductor at source) & GSTR – 7 (filed by a person collecting tax at source).

GST Tip – 103

The amount of tax recovered by the e-commerce operator as collection of tax at source (TCS) should be shown in Table 10(2) of GSTR – 2. It is applicable only when the goods or services are supplied through e-commerce operator. TCS Taxes eligible for ITC  are TCS_IGST, TCS_CGST and TCS_SGST.

GST Tip – 80

The amount of tax deducted by e-commerce operator and filed in return GSTR-8 will be available to the concerned taxable person in Part D of GSTR 2A electronically through the Common Portal and such taxable person may include the same in FORM GSTR-2.