To, All Members,
Sub: GST update - Ministry of Finance issued Notifications- Brief
Placed below please find information regarding GST Update along with copy of relevant notifications by the Ministry of Finance, Govt. of India.
For more details, please consult your Chartered Accountant.
With best regards,
Subject: GST update - Ministry of Finance issued Notifications- Brief
Date: 19 September 2017 at 12:50:13 PM IST
This is to update you regarding notifications issued on 15 September 2017 by CBEC.
GSTR 3B Timelines (Notification No 35/2017 - CGST)
The timelines for filing of return in GSTR 3B for the months of August to December 2017 have been notified as follows:
||20 September, 2017
||20 October, 2017
||20 November, 2017
||20 December, 2017
||20 January, 2018
Further, it has been provided that these are also the due dates for the payment of tax liabilities for the respective months.
TDS provisions notified (Notification No 33/2017 - CGST)
Section 51 (1) of the CGST Act for deduction of tax at source has been notified w.e.f. 18 September 2017.
The following persons shall be liable to deduct tax at source from the payment made or credited to the supplier of taxable goods or services:
- a department or establishment of the Central Government or State Government
- an authority or a board or any other body, -
(i) set up by an Act of Parliament or a State Legislature; or
(ii) established by any Government, with fifty-one percent or more participation by way of equity or control , to carry out any function;
- society established by the Central Government or the State Government or a Local Authority
- public sector undertakings
Section 51 provides that TDS @ 1% (plus 1% under SGST Act i.e. total 2%), is required to be deducted where the total value of taxable supply, under a contract, exceeds INR 250,000. Further, it is to be noted that though the section has been made effective from 18 September 2017, the date from which TDS would be required to be deducted would be notified separately.
Amendment to Rules (Notification No 34/2017 - CGST)
- Form GST TRAN-1 can be revised once within the specified time period for filing of TRAN -1 i.e. by 31 October 2017. This date can be further extended.
- Where goods are sent by a principal located in one State to a job-worker located in any other State, the e-way bill shall be required to be generated mandatory by the principal irrespective of the value of the consignment
- Changes made in form TRAN-1 - re-availment of credit reversed on account of non-payment to vendor to be included in Table 5(a) - credit being availed through Credit Transfer Document (CTD) also to be included in TRAN -1 in Table 7A
- It has been clarified in e-waybill form GST EWB-1, details of bill of entry shall be entered in place of invoice where the consignment pertains to import.
Exemption from registration for inter-state job workers (Notification No 7/2017 - IGST)
Any job-worker making inter-state supplies has been exempted from the requirement to obtain registration.
The exemption would not be available in following cases:
- where turnover exceeds INR 20 lakhs
- where voluntary registration is taken
- job worker involved in supply of jewellery, goldsmiths’ and silversmiths’ wares
These notifications are attached herewith for reference.
Trust the above is useful. Should you have any clarification, please feel free to revert.
Best Regards & Thanks
CA Niitesh Garg & CA Kamal Gupta
KGNG & Company
GST Consultants & Advisory Services
99 90 00 34 57
99 99 41 24 35