GST Updates November 2017

Central Government vide Notification No. 50/2017 Central Tax, dated 24.10.2017 waives the late fee payable, for all registered persons who failed to furnish the return in FORM GSTR-3B for the months of August and September, 2017 by the due date.

Central Government vide Notification No. 51/2017 Central Tax, dated 28.10.2017 amend Central Goods and Service Tax Rules, 2017 as under:

1. Extend the date from 31.10.2017 to 31.12.2017 to cancel the registration of the person registered under any existing laws, who is not liable to be registered under the Act.
2. The details of challans in respect of goods dispatched to a job worker or received from a job worker or sent from one job worker to another during a quarter shall be included in FORM GST ITC-04 furnished for that period on or before the twenty-fifth day of the month succeeding the said quarter now can be furnished within such further period as may be extended by the Commissioner by a notification in this behalf.
3. For the purpose of Rule 96 and 96A of The CGST Rules, where the date for furnishing the details of outward supplies in FORM GSTR-1 for a tax period has been extended, the supplier shall furnish the information relating to exports as specified in Table 6A of FORM GSTR-1 after the return in FORM GSTR-3B has been furnished and the same shall be transmitted electronically by the common portal to the system designated by the Customs.

Central Government vide Notification No. 55/2017 Central Tax, dated 15.11.2017 amend Central Goods and Service Tax Rules, 2017 as under:

1. In determination of input tax credit in respect of inputs and input service and reversal thereof in accordance with Rule 42 the aggregate value of exempt supplies shall exclude the value of supply of services having place of supply in Nepal or Bhutan, against payment in Indian Rupees.
2. An insurer or a banking company or a financial institution, including a non-banking financial company now may issue a tax invoice or any other document in lieu thereof.
3. By way of inserting Rule 97A, refund process or procedure shall include manual filing of the said application, intimation, reply, declaration, statement or issuance of the notice, order or certificate in such Forms as appended to these rules.
4. By way of inserting Rule 107A, process or procedure for advance ruling shall include manual filing of the said application, intimation, reply, declaration, statement or issuance of the notice, order or certificate in such Forms as appended to these rules.
5. By way of inserting Rule 109A, appellate authority has been appointed and time limit for appeal has been fixed.
6. By way of inserting a proviso in Rule 124, Central Government is empowered with the approval of the Chairperson of the Council to terminate the appointment of the Chairman and a Technical Member of anti-profiteering authority at any time.
7. Form GST RFD-01A has been inserted for casual taxable person or non-resident taxable person, tax deductor, tax collector and other registered taxable person.

Central Government vide Notification No. 56/2017 Central Tax, dated 15.11.2017 specifies that the return in FORM GSTR-3B as under:

Central Government vide Notification No. 57/2017 Central Tax, dated 15.11.2017 specifies that the registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year, as the class of registered persons who shall  furnish the details of outward supply of goods or services or both as under:

Central Government vide Notification No. 64/2017 Central Tax, dated 15.11.2017 waives the amount of late fee payable by any registered person for failure to furnish the return in FORM GSTR- 3B for the month of October, 2017 onwards by the due date, which is in excess of an amount of twenty five rupees (Rs. 25/-) where there is tax payable and ten rupees (Rs. 10/-) where there is NIL tax payable, for every day during which such failure continues.

Central Government vide Notification No. 65/2017 Central Tax, dated 15.11.2017 specifies the persons making supplies of services, through an electronic commerce operator who is required to collect tax at source, and having an aggregate turnover, to be computed on all India basis, not exceeding an amount of twenty lakh rupees (ten lakh rupees in special category states) in a financial year, as the category of persons exempted from obtaining registration.

Central Government vide Notification No. 66/2017 Central Tax, dated 15.11.2017 Seeks to exempt all taxpayers from payment of tax on advances received in case of supply of goods.

Central Government vide various notifications seeks to extend dates as under:

Central Government vide various Orders seeks to extend dates as under:

Central Government vide various notifications seeks to change in the GST rates as under: