Date for filing GSTR-1 returns for July extended to 10 October

The GST Council has announced an extension of the deadline for filing of GST returns in view of the difficulties being faced by taxpayers.

Accordingly, GSTR-1 for July can now be filed latest by 10 October 2017. However, for registered persons with aggregate turnover of more than Rs100 crore, the due date will be 3 October 2017, the Council said.

GSTR-2 for July will have to filed latest by 31 October and GSTR-3 for July by 10 November while GSTR-4 for July-September will have to be filed latest by 18 October.

Taxpayers need not fill Table-4 under GSTR-4 for the quarter July-September 2017 while the requirement of filing GSTR-4A for the quarter has been dispensed with.

However, GSTR-6 for July will have to filed by 13 October 2017.

The GST Council said due dates for filing of returns for subsequent periods will be notified at a later date. Registered Taxpayers may, however, continue filing GSTR-3B for the months of August to December 2017.

The Council has given registered persons (whether migrated or new registrants), who could not opt for composition scheme, the option to avail composition till 30 September 2017 and such registered persons will be permitted to avail the benefit of composition scheme with effect from 1 October 2017.

It has also exempted persons making inter-state taxable supplies of handicraft goods up to an aggregate turnover of Rs20 lakh from registration requirement provided the person has a Permanent Account Number (PAN) and the goods move under the cover of an e-way bill, irrespective of the value of the consignment.

At present, any person making inter-state taxable supplies is not eligible for threshold exemption of Rs20 lakh (Rs10 lakh in special category states except J & K) and is liable for registration.

The Council also exempted job workers making inter-state taxable supply of job work service to a registered person from obtaining registration as long as the goods move under the cover of an e-way bill, irrespective of the value of the consignment.

This exemption, however, will not be available to job work in relation to jewellery, goldsmiths' and silversmiths' wares as covered under Chapter 71 which do not require e-way bill.

At present, a job worker making inter-state taxable supply of job work service is not eligible for threshold exemption of Rs20 lakh (Rs10 lakh in special category states except J & K) and is liable for registration.

Taxpayers can revise GST TRAN-1 form once and the due date for submission of the same has been extended by one month, ie, up to 31 October 2017. (TRAN 1 is a transition form that can be filed by a registered person under the new laws of GST as also a person registered under the old laws of indirect tax.)

The registration for persons liable to deduct tax at source (TDS) and collect tax at source (TCS) will commence on 18 September 2017. However, the date from which TDS and TCS will be deducted or collected will be notified by the Council later.

The GST Council has decided to set up a committee consisting of officers from both the centre and the states under the chairmanship of the revenue secretary to examine the issues related to exports.

The GST Council has also decided to constitute a group of ministers to monitor and resolve the IT challenges faced during GST implementation.