Aug 012019
 

The New return form CMP-08 , for GST dealers who have opted for payment of tax under Composition scheme is now available in the GST portal.

The return for the period Apr 2019 – June 2019 can be filed now using the new form CMP 08.

The last date for filing the CMP-08 for the above period has been extended upto 31st of Aug 2019.

The relevant notification is provided below

Download (PDF, Unknown)

Feb 122019
 

New GST Input Tax Credit (ITC) Set off procedure w.e.f. 01 st Feb 2019.

Feb 062019
 

GST Set off rules changed w.e.f. 01st Feb 2019

The GST Amendment Act has been made applicable w.e.f. 1st Feb 2019. One of the important changes in the GST Amendments is that the manner of set off of Input Tax credit.

 

Before amendment, the GST was Set off as under :-

 

Towards Payment of First Setoff toThen Setoff to
SGSTSGSTIGST
CGSTCGSTIGST
IGSTIGSTCGST/SGST

 

As per the new rules as applicable from 1st Feb 2019, the following will be new set off procedure :-

 

Towards Payment of First Setoff toThen Setoff to
SGSTIGSTSGST
CGSTIGSTCGST
IGSTIGSTCGST/SGST
Aug 112018
 

As you are aware, as per Section 9(4) of the CGST Act, GST is payable under Reverse Charge basis in respect of inward supplies from unregistered suppliers.  This was deferred by notification till 30th of September 2018 earlier. Now another notification has been issued to defer the same till 30th September 2019. In view of the above,no GST under reverse charge basis is payable in respect of inward supplies , as per section 9 (4) .

Kindly note that Reverse charge on Freight Payments (Goods Transport Agency) , Advocate fees, Sitting fees to Directors , which are covered under Section 9(3) are not exempted and GST on these payments shall continue to be paid under Reverse Charge.

The relevant notification is reproduced below :-

Aug 112018
 

As per the latest Notification No 34/2018-Central Tax, the filing of Monthly Summary Return in GSTR 3B shall continue till the month of March 2019 and in view of the same, tax payment shall also be paid while filing the GSTR – 3B . The last date for filing the GSTR-3B is 20th of the succeeding month.

The relevant Notification is reproduced below :-

Aug 102018
 

The CBIC has announced the due dates for filing GSTR-1 returns till the month of March 2019.

As per Notification No 33/2018-Central Tax, the due dates for filing GSTR-1 returns in respect of taxpayers with less than 1.50 crores turnover is as follows :-

Sl NoQuarter for which details in For GSTR 1 are furnishedTime period for furnishing details in Form GSTR-1
1Jul-September 201831st October 2018
2October-December 201831st January 2019
3January-March 201930th April 2019

As per Notification No 32/2018-Central Tax , the due dates for filing GSTR-1 returns in respect of tax payers with more than 1.50 Crores turnover is as follows :-

GSTR for the month ofDue date
July 201811th Aug 2018
Aug 201811th Sep 2018
Sep 201811th Oct 2018
Oct 201811th Nov 2018
Nov 201811th Dec 2018
Dec 201811th Jan 2019
Jan 201911th Feb 2019
Feb 201911th Mar 2019
Mar 201911th Apr 2019

Download (PDF, Unknown)

Download (PDF, Unknown)

May 162018
 

As per latest notification issued by the CBDT, there is a small change in the GSTR returns to be filed for the months of Apr 2018 to June 2018.

The Changes are Summarised below :-

For Registered Persons having aggregate turnover exceeding Rs. 1.50 Crores during the preceeding year, the Due dates are as follows :

MonthGSTR 1 due dateGSTR 3B due date
Apr 201831st May 201820th May 2018
May 201810th June 201820th June 2018
June 201810th Jul 201820th Jul 2018

Effectively, for Registered  persons having turnover above 1.50 crores, they have to file their GSTR 1 first and then file GSTR 3B along with payment of GST. This was the initial plan at the time of introduction of GST.

 

For Registered Persons having aggregate turnover less than Rs. 1.50 Crores during the preceeding year, the Due date for filing GSTR 1 is as follows :

QuarterGSTR 1 due date
April-June 201831st July 2018

For all registered persons, the due date for filing GSTR 3B is as follows :-

MonthGSTR 3B due date
April 201820th May 2018
May 201820th June 2018
June 201820th July 2018

 

The relevant notifications are reproduced below

 

Download (PDF, Unknown)

Download (PDF, Unknown)

Download (PDF, Unknown)

 

Apr 232018
 

The e way bill system was implemented for Inter-state supplies all over India and for Intra-state supplies in few of the states.

There were numerous queries with regard to e-way bill generation of Bill to – Ship to transactions. The Government has provided a clarification for the same and the same is reproduced below

Download (PDF, Unknown)

 

Apr 032018
 

The following are the statutory obligations for the month of April 2018

ActComplianceDue Date
GSTGSTR 1 (For Feb 18) filing for taxpayers with more than 1.5 Crores Turnover10-04-2018
ESIESI Payment for the month of March 201815-04-2018
PFPF Payment for the month of March 201815-04-2018
GSTGSTR 4 (For assessee's opted for Compounding Scheme) - Jan-Mar 201818-04-2018
GSTGSTR 3B Return filing for the month of March 201820-04-2018
GSTGSTR 1(Jan-Mar 2017) filing for Taxpayers with Less than 1.5 Crores turnover30-04-2018
Income-taxDeposit of TDS deducted during the month of March 201830-04-2018
Income-taxFiling of Form 61 containing particulars of Form 60 during the period 1st Oct to 31st March 201830-04-2018
Income-taxDue date for uploading declarations received from recipients in Form. 15G/15H during the quarter ending March, 2018.30-04-2018


B S Sridhar & Co., Contact us @ 91-44-45540180 / 91-90804 33131. 

For Quick Response email :- sridharca@gmail.com

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