GST Administration facing acute manpower shortage at Group 'A' level; About 1900 posts remain vacant against over 5800 posts in CBEC GST receipts - Agency commission to banks - Mumbai office of RBI to settle all claims GST & world trade slowdown take toll on October exports growth CBEC notifies GST rate changes for goods + services; New tax regime for restaurants notified; All changes come into effect from today GST impacts foreign trade adversely; Exports down by 1.1 % in October CBEC Chairperson inaugurates GST Pavilion at Pragati Maidan GST Council clarifies permanent transfer of IPR in IT software to attract 18% rate but other than software to attract 12% + no exemption from GST on packing & warehousing of processed tea, coffee, pulses and dry fruits GST - Supply of raw cotton by agriculturist brought under RCM + Inter-state supply of goods like rigs, tools and cranes not to constitute supply + supply of e-waste discarded only by consumers to attract 5% rate + NO GST on tickets for admission to protected monuments Amendment in Composition Scheme - Services upto Rs 5 lakh annual turnover allowed in addition to goods; Threshold to be hiked to Rs 1.5 lakh after law amendment + Rate reduced to 1% for traders on only taxable supplies + Restaurants not eligible for Scheme Uniform GST rate of 5% with no ITC imposed on restaurants of all turnovers except the ones in hotels: FM GST - Late fee reduced to Rs 200 per day to Rs 20 per day for NIL returns + for others from Rs 200 per day to Rs 50 per day Dates for GSTR-4, GSTR-5, GSTR-6, TRANS-01 & ITC-04 further extended upto December-end, 2017 GST Council's 23rd Meeting - 178 items moved from 28% to 18% w.e.f Nov 15, 2017 + two item moved from 28% to 12% slabs + 13 items moved from 18% to 12% slabs + 6 items from 18% to 5% GST Council sets up Committee to review entire Business Process & Invoice-matching GSTR-3B to be filed till March 31, 2017; Simplified 3B to be notified for NIL Returns + In current fiscal upto March 31, 2017, Only GSTR-1 to be filed GST Council extends ITC benefits to exports of goods or services to Nepal & Bhutan + Manual filing of Advance Ruling applications to be introduced + grants exemption to services providers making intra or inter-state supplies through e-Commerce platforms upto Rs 20 lakhs + Centralised UIN to be issued to UN Organisations or Foreign Missions GST - Due dates for all returns extended; GSTR-3B to survive till Mar 31, 2018 GST Council revamps Composition Scheme; tax regime for restaurants; reduces rates on 178 goods; Only GSTR-3B to be filed; GSTR-2 & 3 killed GST Council retains only 50 items in 28% bracket; 177 items shifted to 18% slab GST Council Meet - Opposition-ruled States demand lowering of peak rate to 18% GST - Chidambaram tweets Congress FMs to force Council to make changes GSTN activates functionality of revision of TRANS-01 filed before Nov 9 Business Processes have failed GST! Council needs to 'Reboot' it! GST - Procurement of goods by EoUs/STP/BTP from DTA - Forms prescribed for maintaining records of deemed exports GST - Govt clarifies due date for GSTR-1A also stands extended and details to be made available to supplier from Dec 1 to 6 for July month GST in its present avataar causing hardships to economy: Pondy CM IGST refund - Table 6A of GSTR-1 activated Sushil Modi favours MRP inclusive of GST method GST heading for Avalanche of Litigation! Over 20 lakh GSTR-2 filed for July month; 54 lakh GSTR-3B filed for August & 47 lakh for September Due dates for GSTR 2 and GSTR 3 extended to Nov 30 and Dec 11, 2017 respectively GST - Panel favours further hike in threshold limit for Composition Scheme CBDT, GST Council need to extend due dates for Corporate tax return filing & GSTR-2 ITC-04 date extended till Nov 30, 2017 120 days of GST Roll-out - Watch TIOL TUBE TRANS-1 Date extended from Oct 31 to Nov 30 Date extension - Subsequential amendments made in CGST Rules GSTR-3B - Late fee paid by taxpayers to be credited back in CASH Ledger: CBEC Chairperson GST - Date extended for TRAN-1 till Nov 30, 2017 + for REG-26 till Dec 31, 2017 + for CMP-03 till Nov 30, 2017 - Orders issued GST - Unstitched salwar suits to be treated as fabrics and to attract 5% rate