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Extension of due date to 25th October, 2018 for furnishing return in the FORM GSTR-3B for the month of September, 2018

the last date for furnishing return in the FORM GSTR-3B for the month of September, 2018 is being extended up to 25th October, 2018. Relevant notification will follow shortly.

Availability of ITC based on reconciliation GSTR-2A and GSTR-3B is unfounded

The apprehension that ITC can be availed only on the basis of reconciliation between FORM GSTR-2A and FORM GSTR-3B conducted before the due date for filing of return in FORM GSTR-3B for the month of September, 2018 is unfounded as the same exercise can be done thereafter also

Claimed higher rate of drawback, no Refund

Claimed higher rate of drawback, no Refund It is clarified that it has been noted that exporters has availed the option to take drawback at higher rate in place of IGST out of their own voliation. Considering the fact that exporters have made aforeside declaration while while claiming the higher rate of drawback, it has been decided that it would not be justified allowing exporters to avail lGST refund after initially claiming the benefit of higher drawback. There is no justification for re-opening the issue at this stage.

Important update in GST refund for Exporter

Notification 54/2018- Central Tax dated 9th October, 2018: Changes in Rule 96(10): With effect from 9th October 2018, where exporter has availed EPCG benefit for import of capital goods under EPCG scheme, he shall be eligible for refund of IGST paid on export goods under Rule 96 of the CGST Rules.

IMPORTANT COMPLIANCE DATES FOR OCTOBER 2018

Sr. No.DatePurposeCompliance MonthEvent Details15th Oct 2018KYC of DirectorsNAEvery individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these Rules shall, submit e-form DIR-3-KYC to the Central Government on or before30th April of immediate next financial year.Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018, shall submit e-form DIR-3 KYC on or before 31st August, 2018. Otherwise DIN will be inactivated. (Extended Date)27th Oct 2018TDS/TCS Liability DepositSep-18Due date of depositing TDS/TCS liabilities for the month of Sepember 2018313th Oct 2018GSTR -6Sep-18Due Date for filing return by Input Service Distributors for the […]

Why it is important to fill Part B of Eway Bill

Why it is important to fill Part B of Eway Bill In the recent order passed by High court of Madhya Pradesh in there order dated 05-07-2018, demand and penalties imposed Rs. 1,32,13,683 on M/s Gati Kintetsu Express Pvt Ltd by GST Appellate Authority & Joint commissioner of State Tax, Indore and Assistant Commissioner of State Tax, Indore has been confirmed. Facts of cases: The vehicle of M/s Gati Kintetsu Express Pvt Ltd was carrying goods from Pune(Wadki), Maharashtra to Noida via Indore and other different places. Inspection was carried out of their vehicle on 27.04.2018. On enquiry, the driver (person incharge of a conveyance) of the vehicle produced the […]

Setting up of an IT Grievance Redressal Mechanism – Snapshots

CBIC on 3rd April 2018 via Circular no. 39/12/2018-GST decided to put in place an IT-Grievance Redressal Mechanism to address the difficulties faced by a section of taxpayers owing to technical glitches on the GST portal and the relief that needs to be given to them. Where it has been identified that there is failure in filling returns or forms with in time specified due to IT related glitch and evidence available to estabilish bonafide attempt has been made to comply with the process of filing of form or return, GST Council has delegated powers to the IT Grievance Redressal Committee to approve and recommend to the GSTN the steps […]

How to rectify error in GSTR 3B

Introduction: In this article, we will understand following: Stages of returns Type of Error in GSTR-3B Rectification of error made while filling GSTR-3B Earlier it has been clarified that error in GSTR-3B can be rectified while filling GSTR-1 and GSTR-2, however since the mechanisms is not implemented till now, this video provide detail scope on how rectification can be done in GSTR-3B Amendment, Corrections and Rectifications of returns: FORM GSTR-3B do not contain provisions for reporting of differential figures for past month(s), the said figures may be reported on net basis along with the values for current month itself in appropriate tables While making adjustment in the output tax liability […]

GST Update – 02nd January 2018

GST Update 2nd January 2018   Extension in Various Due Dates for Return filling   S no Descriptions Form no Period Revised Date Notification No 1 The registered person who is eligible to avail ITC u/s 18(1) GST ITC – 01 July’17 August’17 September’17 October’17 November’ 2017 31st January 2018 67/2017-Central Tax ,dt. 21-12-2017 2 Return filled by the non-resident person GST ITC-05 July’17 August’17 September’17 October’17 November’ 2017 December’2017 31st January 2018 68/2017-Central Tax ,dt. 21-12-2017 3 Furnishing of Return by a person supplying online information and database access or retrieval services from a place outside India to a non-taxable online recipient GST ITC-5A July’17 August’17 September’17 October’17 November’ […]

Form and Manner of Appeal to the Appellate Authority for Advance Ruling

Form and Manner of Appeal to the Appellate Authority for Advance Ruling An Appeal against advance ruling shall be made by applicant in quadruplicate in FORM GST ARA-02. An Appeal against advance ruling shall be made by concerned officer or jurisdictional officer in quadruplicate in FORM GST ARA-03. Fee of Rs. 10,000 to be deposit online and challan of such payment to be filed along with such application. No fee shall be paid in case appeal is made by jurisdictional officer. Such appeal shall be filled within 30 days from the date of communication of such ruling. Relevant Text of Circular: CIRCULAR NO.25/25/2017-GST [F.NO.275/22/2017-CX.8A], DATED 21-12-2017 Form and Manner of Appeal […]

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