21st GST COUNCIL meeting outcomes - 9th Sep 2017 - ""An Analysis""

Important outcomes based on GST Council meeting held on 9th Sep 2017 "

>>An Analysis & Author notes<<

http://economictimes.indiatimes.com

## : Timelines revised for various returns as below:

Sl. No.	Details / Return	Tax Period	Revised due date
1	GSTR-1	July, 2017	10-Oct-17
2	GSTR-2	July, 2017	31-Oct-17
3	GSTR-3	July, 2017	10-Nov-17
4	GSTR-4	July-September, 2017	18-Oct-17 (no change)
5	GSTR-6	July, 2017	13-Oct-17

GSTR-1 - Outward supplies details: GSTR -2 - Input supplies details, GSTR-3 - Monthly return

GSTR-4 - Composition suppliers return Quarterly,

GSTR-6 - Return of ISD (earlier notified date was 8 September 2017 which has now revised as above)

## GSTR-3B Which was just a summary of all input/output supplies of the registered person will continue to file till DECEMBER 2017 on monthly basis, 

## GSTR 3B for august was earlier notified by due on 20 Sep 2017 and for remaining months the dates will notified in future, 

## Table -4 of return GSTR-4 (for composition suppliers) deals in "details of inward supplies and RCM supplies"in NOT REQUIRED TO BE FILED during  JULY-AUGUST period,

## If you were not able to OPT  for COMPOSITION SCHEME then the option will not be open to avail the same till 30 SEP 2017 and the SCHEME will be applicable WITH EFFECT FROM 01 OCTOBER 2017 - It means the composition will not be allowed to get from 01 July 2017 and will only be available effective from 01 Oct 2017 UNLESS a person has applied composition scheme while making a transition registration,

## EXCEPTION of NON-REQUIREMENT OF COMPULSORY REG even a supplier do an Inter-STATE supply :

To WHOM: HANDICRAFT goods

Limits applies : Upto 20 lacs (or 10 as the case may be),

Conditions; VALID PAN is must, & Movement of inter state supplies with E-Way bill (even less than 50 K),

Remember that those already has applied for registration considering the Inter state supplies for the business as mentioned above will not go back and claim this benefits.

## SECOND EXCEPTION to NON-REQUIREMENT OF COMPULSORY REG even a supplier do an Inter-STATE supply :

To WHOM: All Job workers except Jewelry, goldsmith and silversmith covered under chapter 71

Limits applies: No LIMIT for such interstate supplies,

Conditions: No need for PAN (if Unreg), ONLY to supply to REG person,  Supplies with EWAY bill always

## There were lot of debates and confusion around the changes to be made in TRAN-1 once filed, now the option is given strictly for A CHANGE ONLY AT ONCE and no second revision is allowed,

## TRAN-1 was to be filed within 3 months from the appointed date i.e. from 01 July 2017 and was to be hence filed by 30 Sep 2017  which now extended to 31 Oct 2017. Please note that those who have filed their TRAN -1 by 28 Aug 2017 (which was required in order to get credit ) can revise the TRAN -1 ONLY AT ONCE,

It if further advisable to submit the TRAN 1 at the earliest before SECOND MONTH i.e. AUG 2017 GSTR 3 B is approaching where you may want to use ITC carried over from old systems.

## TDS and TCS related provisions were kept on hold by the government is now will be starting for REG with effect from 18 Sep 2017.........

## Committee and Groups will be formed to resolve export & IT related issues..


CHANGES IN SERVICES:

1- To reduce the rate of GST on following services from 18% to 12%:

Services provided to the Government, a local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of – (a) a civil structure or any other original works meant predominantly for use other than for commerce, industry, or any other business or profession; (b) a structure meant predominantly for use as (i) an educational, (ii) a clinical, or(iii) an art or cultural establishment a residential complex predominantly meant for self-use or the use of their employees or other persons specified in paragraph 3 of the Schedule III of the CGST Act, 2017,

2- SATELLITE SERVICES Provided outside India > EXPORT (Zero rated)
                                              Provided within India > Taxable

3- To exempt services by way of admission to FIFA U-17 Football World Cup- 2017 events from GST

For reading text of the release please refer - http://pib.nic.in/newsite/erelease.aspx?relid=170642

&  http://www.cbec.gov.in/resources//htdocs-cbec/gst/decisions-gst-council%20on%20Services-9-Sept-2017.pdf

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