NEWS UPDATE
GSTR-3B hourly return-filing pattern for August indicates peak filing of 1.33 lakh on Sept 20 at 7 PM; About 37K filed even at midnight; 13.7 lakh returns filed on Sept 20: GSTN GST - CBEC about to notify cross-empowerment for dividing assessee-base GSTN approves 24.6 lakh Registration from July 1 till date CII favours further extension of GSTR-1, 2 & 3 GSTR - 3B for July if submitted but not FILED can be done now: GSTN Whether due date for submission of GST TRANS-1 is really extended? Blockage of Exporters' working capital - Govt exploring link between GSTR-1 & GSTR-3B Affordable housing - Industry takes up GST issue with Govt GST - Govt notifies new rates for Duty Credit Scrips, saree falls, roasted grams and many other items + restriction on refund for corduroy fabrics + exemption to khadi fabric, musical instruments and many other items + clarity on issue of cereals etc sold in unit container with brand name Govt grants conditional IGST exemption to skimmed milk powder or concentrated milk GST - Rs 65k Cr TRANS-1 Credit is much less than Rs 1.3 lakh crore as closing balance: Govt July GSTR-3B can now be edited and submitted: GSTN GST - GSTN informs that portal for uploading application seeking advance ruling to be ready only in Jan 2018; alternatively, facility for filing manual applications to be available from 20 Oct- HC questions authority for postponement GST - Ground-level problems crying for solutions! GST - Supply of construction service to Govt & Govt bodies - Concessional tax rate and other conditions notified UTGST & IGST - NIL tax on stadium tickets for FIFA World Cup 2017 + exempts intra-state & inter-state supply of heavy water & nuclear fuels by DoAE to NPCI Ltd GST - Govt extends TRAN-1 due date till October 31, 2017 Almost 50% of about 30 lakh taxpayers filed GSTR-3B on last day Guidelines for division of taxpayer base between the Centre and States to ensure Single Interface under GST GSTN system dysfunctional,needs to be updated to meet requirements - no coercive action of penal interest, late fees: Rajasthan HC GST - Division of assessees - 90% of below Rs 1.5 Crore goes to States; Above Rs 1.5 Crore turnover divided in 50:50 ratio; Guidelines for deciding turnover prescribed GST - Govt to notify 5% tax rate for pulses & flours sold in units or containers with brand name as on May 15, 2017, valid from Friday GST Council prepones next meeting to Oct 6 from Oct 24 Sale of Old & Scrap buses - whether leviable to 28% GST or 18% GST as Ferrous scrap - Petitions premature, dismissed: HC Govt notifies facility of REVISING TRANS-01 latest by Oct 31, 2017 GST - Registration for Composition Scheme - GSTN opens window upto Sept 30, 2017 GST Mess - Why blame GSTN alone! It's time to review Business Processes!

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GST - Ground-level problems crying for solutions!

Published: September 21, 2017

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