S K Jhunjhunuwala & Co.

24/09/2018

CBDT extends due date to 15th October 2018 for submission of Tax Audit Reports and related returns

05/09/2018

Government has notified Central GST (Eighth Amendment) Rules, 2018, wherein it has notified Form GSTR-9 of Annual Return and Form GSTR-9A of Annual Return for composition taxpayers. Below is the link:

https://cbec-gst.gov.in/pdf/central-tax/Notification-39-2018-central_tax-English.pdf

12/03/2018

Recommendations made during the 26th meeting of the GST Council held in New Delhi on 10th March, 2018

I. Return filing System
The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized.

II. Reverse charge mechanism
The liability to pay tax on reverse charge basis has been deferred till 30.06.2018.

III. TDS/TCS
The provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act shall remain suspended till 30.06.2018. In the meantime, the modalities of linking State and Central Governments accounting system with GSTN will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source.

E-way bill
In the meeting held on 10thMarch, 2018, the GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 01st June, 2018. Major improvements over the last set of rules, has been approved by the Council in this meeting.

12/03/2018

26th Meeting of the GST Council meets & decides Extension of tax exemptions for exporters for six months

Sending a strong positive signal to the exporting community, the Council decided to extend the available tax exemptions on imported goods for a further 6 months beyond 31.03.2018. Thus, exporters presently availing various export promotion schemes can now continue to avail such exemptions on their imports up to 01.10.2018, by which time an e-Wallet scheme is expected to be in place to continue the benefits in future.

26/02/2018

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10/11/2017

Recommendations made by the GST Council in the 23rd meeting at Guwahati on 10th November, 2017

The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the followingfacilitative measuresfortaxpayers: