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GST Return filling Simplified for tax payers

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New Delhi: 10 Nov 2017, GST council on its 23rd meeting held today at Guwahati recommended the big relief for GST taxpayers

 GST Return filling Simplified for tax payers

The return filing process is to be further simplified in the following manner:

                                                          GSTR 3B – Now file till  March 2018

  1.             All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018.

                                                            NOW TWO CATEGORIES OF TAXPAYERS FOR GSTR 1

  2.             For filing of details in FORM GSTR-1 till March 2018, taxpayers would be divided into two categories. Details of these two categories along with the last date of filing GSTR 1 are as follows:

(a) Taxpayers with annual aggregate turnover uptoRs. 1.5 croreneed to file GSTR-1 on quarterly basis as per following frequency:

PeriodDates
Jul- Sep31st Dec 2017
Oct- Dec15th Feb 2018
Jan- Mar30th April 2018

 

(b)      Taxpayers with annual aggregate turnover more thanRs. 1.5 croreneed to file GSTR-1 on monthly basis as per following frequency:

PeriodDates
Jul- Oct31st Dec 2017
Nov10th Jan 2018
Dec10th Feb 2018
Jan10th Mar 2018
Feb10th Apr 2018
Mar10th May 2018

 

GSTR 2

                iii.            The time period for filing GSTR-2 and GSTR-3 for the months of July, 2017 to March 2018 would be worked out by a Committee of Officers.

However, filing of GSTR-1 will continue for the entire period without requiring filing of GSTR-2 & GSTR-3 for the previous month / period.

WAIVER OF LATE FEES

b)A large number of taxpayers were unable to file their return in FORM GSTR-3B within due date for the months of July, August and September, 2017.

Late fee was waived in all such cases. It has been decided that where such late fee was paid, it will be re-credited to their Electronic Cash Ledger under “Tax” head instead of “Fee” head so as to enable them to use that amount for discharge of their future tax liabilities. The software changes for this would be made and thereafter this decision will be implemented.

c)For subsequent months, i.e. October 2017 onwards, the amount of late fee payable by a taxpayer whose tax liability for that month was ‘NIL’will be Rs. 20/- per day (Rs. 10/- per day eachunder CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day eachunder CGST & SGST Acts).

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