Latest GST updates

1. Notification- 71/2017-Central Tax ,dt. 29-12-2017

Extends the due dates for

QUARTERLY furnishing of FORM GSTR-1

for taxpayers with aggregate turnover of upto Rs.1.5 crore.

Jul-Sep'17 : 10-Jan-2018

Oct-Dec'17 : 15-Feb-2018

Jan-Mar'18 : 30-Apr-2018

2. Notification 72/2017-Central Tax ,dt. 29-12-2017

Extends the due dates for

MONTHLY furnishing of FORM GSTR-1

for taxpayers with aggregate turnover of more than Rs.1.5 crores.

Jul-Nov'17: 10-Jan-2018

Dec'17 : 10-Feb-2018

Jan'18 : 10-Mar-2018

Feb'18 : 10-Apr-2018

Mar'18 : 10-May-2018

3. Notification 73/2017-Central Tax ,dt. 29-12-2017

Waives the late fee payable for failure to furnish the return in FORM GSTR-4

Comments

CBDT Instruction No 5/2014 dated 10.07.2014

Dear Members, The Hon'ble CBDT has issued Instruction No 5/2014 dated 10.07.2014 , by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised. The New limits are: Tax effect Appeal before ITAT Rs. 4,00,000/- High Court Rs. 10,00,000/- Supreme Court Rs. 25,00,000/- Copy of Instruction is attached for your information.

Reversal of Input Tax credit in respect of Credit/ Debit Note

The VAT department, Delhi has clarified its stand on the reversal of input tax credit in respect of credit/ Debit Note vide circular no.30 dated 19/12/2013

DVAT UPDATE + INCOME TAX UPDATE

Respected Members, Greetings for the day, This is for your information please: 1. Due date for E-filing DP-1 Form extended to 31.3.16 Notn. No. 1559 dt. 1.3.16. 2. Due date for E-filing CST Form-9 extended to 31.3.16 Cir. No. 39 dt. 29.2.16. 3. Due date for E-filing of CR-II for 1 to 3 Qtrs., 15-16 extended to 15.3.16 Notn. No. 1572 dt. 1.3.16. 4. Now Digital Signatures shall be Mandatory for filing DVAT returns w.e.f. 4th Qtr.,15-16 for dealers having turnover above 50 lakhs Notn. No. 1585 dt. 1.3.16. CA YASHU GOEL 9899263490 VICE PRESIDENT SALES TAX BAR ASSOCIATION

N K GOEL AND BROS.

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