Changes in GST as decided by GST council on 9th Sept.,2017.

1. R G N L and Co.
Chartered Accountants
Your mentor for GST compliance and Reporting
Know your worth, take control of your business.

2. Key take away from 21st GST
Council held on 09th Sept. 2017

3. Businesses can opt for composition
scheme till 30th September 2017.
Composition Scheme.

4. Quarterly Return- GSTR 4 for
Composition levy for July-Sept quarter
can be filed upto 18th October,2017
(no change).
Quarterly return filing date for
Composition Scheme.

5. Trans-1 Date filing extended till 31st
October 2017.
Basically an option to existing business
to rectify their errors as numbers of
input credit in transition don’t add up.
Return filing date of Trans-1.

6. One time revision is also allowed for
Trans-1.
Basic reason behind this is the
Transitional credit claimed is Rs. 60,000
Crore, numbers which just don’t add up
as per Governments Calculation.
Option for businesses already filed
Trans-1.

7. The council has decided that GSTR-3B
will be filed for four more months till
December.
GSTR 3B filing for 4 more months.

8. GSTR 1 of July can be filed till 3rd
October for entities having turnover
over 100 Crore.
GSTR 1 of July can be filed till 10th
October for rest of the entities.
GSTR 1 filing extended date.

9. GSTR 2 can be filed till 31st
October July.
GSTR 2 filing extended date.

10. GSTR 3 can be filed till 10th November
for July.
GSTR 3 filing extended date.

11. Software problem in filing GSTR 3B is
one of the reason for date extension.
GSTR 3 filing extended date reason
provided by Govt.

12. For the month of August Return date
will be communicated.
GSTR 1,2 &3 filing date.

13. Till Sept. 8th 2017:
1.Over 45 lakhs GSTR 3B filed
2.Over17 lakhs GSTR-1 filed
3.Over 13 crore invoices have been filed.
Return filing stats and one of the basic
reason to extend dates.

14. Group of Ministers have been
constituted to monitor/resolve
technological changes.
Composition of this group will be given
later.
Ministerial Group to look at GSTN

15. Handicraft traders who sell to other states
will not have to register if their turnover is
below Rs 20 lakh.
Relief for Handicraft makers

16. Collections have been robust with over 70
per cent of eligible taxpayers filing returns
of about Rs 95,000 crore
Revenues on right path

17. Food stuff sold in open was categorised
at 0% tax rate while the branded ones
attracted 5%.
Some businesses were deregistering
their brands and selling under
corporate brand name, creating
inequality of trade.
New framework for branded packaged
foods

18. If either of two categories satisfied, business
will have to pay 5 per cent tax :
1.If on May 15, 2017, you had a registered
trade mark you have to pay 5 per cent GST.
2.If you have a mark or a name on which you
are entitled to maintain actionable claim or
exclusivity, then you have to pay 5 per cent.
Loophole Pluged

19. GST on about 30 items have been lowered after
anomalies in the fixation of rates were pointed out.
Rates Lowered

20. GST council raised the cess on motor vehicles—
1.Mid-size cars-2%
2.Large cars-5%
3.Sports utility vehicles-7%
Instead of whole 10% increase effected in the law.
Overall tax incidence was kept within 50%.
Increase in Cess Rates of Motor
Vehicles

21. Thank you!