TaxTMI 
TaxTMI 
TaxTMI 
Mentioned below are the recent amendments in GST in view of recommendations made at 23rd GST Council meeting. Notifications will be issued on Nov 14 and same shall be effective from Nov 15.
Major Gist of Changes
- GSTR-3Bwill continue to be filed on Monthly basis alongwith Tax Payment by 20th of following Month till March 2018
- GSTR-2 & 3 from July'17 - Mar'18 is on hold for time being and modalities on its implementation shall be worked out by Committee.
- Late fees has been waived for period from July'17-Sep'17 for delay in submission of GSTR-3B and any amount paid shall be credited to E-Cash Ledger to be utilised in future.
- GSTR-1 shall be matched with GSTR-3B till Mar'18 till GSTR-2 & GSTR-3 is put in place.
- Late Fees of ₹ 20/- per day shall be applicable for delay in submission of GSTR-3B returns for period Oct'17 onwards.
Extension in Return Submission dates- GSTR-1
[For Persons having Turnover > ₹ 1.50 Cr]
PERIOD | DATE |
JUL-OCT'17 | 31ST DEC 2017 |
NOV'17 | 10th JAN 2018 |
DEC'17 | 10th FEB 2018 |
JAN'18 | 10th MAR 2018 |
FEB'18 | 10th APR-2018 |
MAR'18 | 10th MAY- 2018 |
[For Persons having Turnover < ₹ 1.50 Cr]
PERIOD | DATE |
JUL-SEP'17 | 31st DEC 2017 |
OCT-DEC'17 | 15th FEB 2018 |
JAN-MAR'18 | 30thApril 2018 |
Extension in Return Submission dates- Other Returns
Return | Revised Due Date |
| ITC-04 (July-Sep'17) - Job Work Return | 31.12.2017 |
| GSTR-4 (Composition Scheme) | 24.12.2017 |
| GSTR-5 | 11.12.2017 |
| GSTR-5A | 15.12.2017 |
| GSTR-6 (ISD Return) | 31.12.2017 |
| TRANS-1 | 31.12.2017 |
- Uniform GST Rate of 1% under Composition Scheme for Manufacturers / Traders.
- Services upto value of ₹ 5 lacs p.a. by Composition Tax Payer brought under Exemption.
- GST on Restaurants AC/Non-AC @ 5% without ITC and same rate on Food Parcels / Takeaways. [Restaurant in Hotel and if Declared Tariff in Hotel > ₹ 7500/- per day, then GST is 18% with ITC on Restaurant Services]
- Important Industrial Items on which Tax rates are reduced are as follows: [Effective from Nov 15, 2017 subject to Notification to be issued]
| [From 28% to 18%] | [From 28% to 12%] | [From 18% to 12%] | [From 18% to 5%] | [From 5% to 0%] | [From 12% to 5%] |
| Wire, cables, insulated conductors, electrical insulators, electrical plugs, switches, sockets, fuses, relays, electrical connectors | Wet grinders consisting of stone as grinder | Condensed milk | Puffed rice chikki, peanut chikki, sesame chikki, revdi, tilrevdi, khaza, kazuali, groundnut sweets gatta, kuliya | Guar meal | Desiccated coconut |
| Electrical boards, panels, consoles, cabinets etc for electric control or distribution | Tanks and other armoured fighting vehicles | Refined sugar and sugar cubes | Flour of potatoes put up in unit container bearing a brand name | Hop cone (other than grounded, powdered or in pellet form) | Narrow woven fabric including cotton newar [with no refund of unutilised input tax credit] |
| Furniture, mattress, bedding and similar furnishing | Pasta | Chutney powder | Certain dried vegetables such as sweet potatoes, maniac | Idli, dosa batter | |
| Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic | Curry paste, mayonnaise and salad dressings, mixed condiments and mixed seasoning | Fly ash | Unworked coconut shell | Finished leather, chamois and composition leather | |
| Particle/fibre boards and ply wood. Article of wood, wooden frame, paving block | Diabetic food | Sulphur recovered in refining of crude | Fish frozen or dried (not put up in unit container bearing a brand name) | Coir cordage and ropes, jute twine, coir products | |
| Trunk, suitcase, vanity cases, brief cases, travelling bags and other hand bags, cases | Medicinal grade oxygen | Fly ash aggregate with 90% or more fly ash content | Khandsari sugar | Fishing net and fishing hooks | |
| Detergents, washing and cleaning preparations | Printing ink | Worn clothing | |||
| Liquid or cream for washing the skin | Hand bags and shopping bags of jute and cotton | Fly ash brick | |||
| Shampoos; Hair cream, Hair dyes (natural, herbal or synthetic) and similar other goods; henna powder or paste, not mixed with any other ingredient; | Hats (knitted or crocheted) | ||||
| Pre-shave, shaving or after-shave preparations, personal deodorants, bath preparations, perfumery, cosmetic or toilet preparations, room deodorisers | Parts of specified agricultural, horticultural, forestry, harvesting or threshing machinery | ||||
| Perfumes and toilet waters | Specified parts of sewing machine | ||||
| Beauty or make-up preparations | Spectacles frames | ||||
| Fans, pumps, compressors | Furniture wholly made of bamboo or cane | ||||
| Rubber tubes and miscellaneous articles of rubber | |||||
| Lamp and light fitting | |||||
| Primary cell and primary batteries | |||||
| Sanitary ware and parts thereof of all kind | |||||
| Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic | |||||
| Slabs of marbles and granite | |||||
| Goods of marble and granite such as tiles | |||||
| Ceramic tiles of all kinds | |||||
| Miscellaneous articles such as vacuum flasks, lighters, | |||||
| Wrist watches, clocks, watch movement, watch cases, straps, parts | |||||
| Article of apparel & clothing accessories of leather, guts, furskin, artificial fur and other articles such as saddlery and harness for any animal | |||||
| Articles of cutlery, stoves, cookers and similar non electric domestic appliances | |||||
| Razor and razor blades | |||||
| Multi-functional printers, cartridges | |||||
| Office or desk equipment | |||||
| Door, windows and frames of aluminium | |||||
| Articles of plaster such as board, sheet, | |||||
| Articles of cement or concrete or stone and artificial stone, | |||||
| Articles of asphalt or slate, MICA | |||||
| Ceramic flooring blocks, pipes, conduit, pipe fitting | |||||
| Wall paper and wall covering | |||||
| Glass of all kinds and articles thereof such as mirror, safety glass, sheets, glassware | |||||
| Electrical, electronic weighing machinery | |||||
| Fire extinguishers and fire extinguishing charge | |||||
| Fork lifts, lifting and handling equipment, | |||||
| Bull dozers, excavators, loaders, road rollers, | |||||
| Earth moving and levelling machinery, | |||||
| Escalators, | |||||
| Cooling towers, pressure vessels, reactors | |||||
| Crankshaft for sewing machine, tailor’s dummies, bearing housings, gears and gearing; ball or roller screws; gaskets | |||||
| Electrical apparatus for radio and television broadcasting | |||||
| Sound recording or reproducing apparatus | |||||
| Signalling, safety or traffic control equipment for transports | |||||
| Physical exercise equipment, festival and carnival equipment, swings, shooting galleries, roundabouts, gymnastic and athletic equipment | |||||
| All musical instruments and their parts | |||||
| Artificial flowers, foliage and artificial fruits | |||||
| Explosive, anti-knocking preparation, fireworks | |||||
| Cocoa butter, fat, oil powder, | |||||
| Extract, essence ad concentrates of coffee, miscellaneous food preparations | |||||
| Chocolates, Chewing gum / bubble gum | |||||
| Malt extract and food preparations of flour, groats, meal, starch or malt extract | |||||
| Waffles and wafers coated with chocolate or containing chocolate | |||||
| Rubber tubes and miscellaneous articles of rubber | |||||
| Goggles, binoculars, telescope, | |||||
| Cinematographic cameras and projectors, image projector | |||||
| Microscope, specified laboratory equipment, specified scientific equipment such as for meteorology, hydrology, oceanography, geology | |||||
| Solvent, thinners, hydraulic fluids, anti-freezing preparation |
GST Council has done great job this time thus reducing the Tax Rates on day to day items and majority of Industrial goods, which would eventually bring relief to Industry / Customers, as less funds will blocked and Cost of products to come down.
Wait for the Notification to be issued under CGST / SGST / IGST by November 15 for implementation of above.