Extension of due date of GST returns

Extension of due date of GST returns

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

Government of India

Ministry of Finance

(Department of Revenue)

(Central Board of Excise and Customs)

Notification No. 20/2017 – Central Tax New Delhi,

08th August, 2017 

G.S.R. …..(E).—In exercise of the powers conferred by the sub-section (6) of section 39 read with section 168 of the Central Goods and Services Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the return under sub-section (1) of section 39 of the said Act for the month as specified in column (2) of the Table below, within the period as specified in the corresponding entry in column (3) of the said Table, namely:- 

Table

 Serial Number           Month                 Time period for filing of details in FORM GSTR-3

1.                              July, 2017                       11th to 15th September, 2017 

2.                             August, 2017                    26th to 30th September, 2017. 

2. This notification shall come into force with effect from the 8th day of August, 2017.

 [F. No.349 /74 /2017-GST(Pt.)]

 (Dr. Sreeparvathy S.L.) Under Secretary to the Government of India 

GST rollout: JOB WORK ON TEXTILE WORKS, TRACTOR PARTS, E-WAY BILL

The GST rates on textile job works like stitching and embroidery, and tractor parts were cut on Saturday, while e-way bill provisions relating to online pre-registration of goods before transportation were relaxed.

The all-powerful GST Council, headed by finance minister Arun Jaitley and comprising representatives of all states, decided to tax all job works in the textile sector, from embroidery to weaving, at five percent instead of previously decided 18 percent.

This 5 percent rate will be applicable for job works in apparel, shawls and carpets. To make farm equipment cheaper, tractor parts would attract the Goods and Services Tax (GST) rate of 18 percent instead of 28 percent previously.

Government work contracts would attract 12 percent GST with input tax credit, Jaitley said.

The Council also gave in-principle approval to anti-profiteering measures and setting up of a Screening Committee in 15 days to see if tax reductions after implementation of GST have been passed on to consumers

GST Rates of interest-Notification 13/2017

GST - Rates of interest-Notification 13/2017

The rates of interest are same as mentioned in the Act. The notification ratifies the rates.

This notification shall come into force from the 1st day of July, 2017

Sections	Interest p.a.
Sec 50(1)- Failure to pay tax	18%
Sec 50(3)- Less tax paid/ excess ITC availed	24%
Sec 54(12)- Interest on refunds withheld in an appeal later given	6%
Sec 56- Interest on delayed refunds	6%
Proviso to 56- Interest on refunds ordered in an appeal	9%

The same notification has also been made under IGST (notification 6).

HSN Codes-Notification 12/2017

Every registered person with turnover more than 1.5 crores must mention the HSN Codes in each and every invoice.

However, the numbers of digits to be mentioned in the Invoice depends on the annual turnover in the preceding financial year.

Turnover in previous FY	No. of digits
Upto Rs. 1.50 Cr	NIL
More than Rs. 1.50 Cr. & upto Rs. 5 Cr	2 digits
More than Rs. 5 Cr	4 digits

This is effective from 1st July, i.e., all invoices from 1st July must be GST compliant and have details of HSN codes.

The same notifications have also been made under IGST (notification 5).