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.

 

 

 

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From: Niitesh Garg  niiteshgarg@gmail.com

 

Date: 19 September 2017 at 12:50:13 PM IST

 

To: undisclosed-recipients:;

 

Dear Colleague

 

This is to update you regarding notifications issued on 15 September 2017 by CBEC.

 

 

The timelines for filing of return in GSTR 3B for the months of August to December 2017 have been notified as follows:

 

Month	Due date
August, 2017	20 September, 2017
September, 2017	20 October, 2017
October, 2017	20 November, 2017
November, 2017	20 December, 2017
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.

 

 

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

• local authority

• 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.

 

 

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.