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.

No GST on Ocean freight. Hon'ble SC.

Supreme Court has pronounced its judgment in the matter of Mohit Minerals (Ocean Freight matter). While upholding the judgment of Gujarat High Court, the Supreme Court has held that recommendations of GST Council are only recommendatory and not binding on Union and State. To summarise the Hon'ble Apex Court has ruled that GST is not leviable on ocean freight. CA Yashu Goel

DATE FOR FILING VAT RETURN EXTENDED

LAST DATE FOR FILING VAT RETURN FOR FIRST QUARTER OF 2013-14 EXTENDED The Value Added Tax Department has vide Circular dated 25.07.2013 extended the last date for filing online Return for the first quarter 2013-14. Class of Return Last date for online filing Last date for Hard Copy Returns - DVAT 16, DVAT 17 07/08/2013 10/08/2013 Annexure 2C and 2D which form part of the return. 07/09/2013 10/09/2013 However it may be noted that the due date for depositing tax is not changed.

N K GOEL AND BROS.

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