Tuesday, Oct 20, 2020 | Last Update : 02:55 PM IST

195th Day Of Lockdown

Maharashtra1443409114960338084 Andhra Pradesh7192566588755981 Karnataka6406615157829286 Tamil Nadu6088555529389653 Uttar Pradesh4031013468595864 Delhi2827522506135401 West Bengal2603242287555017 Odisha222734190080912 Kerala204242131048772 Telangana1992761701091163 Bihar178882164537888 Assam169985139977655 Gujarat1332191132403417 Rajasthan1288591077181441 Haryana1237821059901307 Madhya Pradesh117588932382207 Punjab107096840253134 Chhatisgarh9856566860777 Jharkhand7770964515661 Jammu and Kashmir69832495571105 Uttarakhand4533233642555 Goa3107125071386 Puducherry2548919781494 Tripura2412717464262 Himachal Pradesh136799526152 Chandigarh112128677145 Manipur9791760263 Arunachal Pradesh8649623014 Nagaland5768469311 Meghalaya5158334343 Sikkim2707199431 Mizoram178612880
  Business   Economy  18 Jun 2017  GST Council gives 2 months relaxation for return filing

GST Council gives 2 months relaxation for return filing

PTI
Published : Jun 18, 2017, 7:15 pm IST
Updated : Jun 18, 2017, 7:15 pm IST

The Council's decision came in the wake of the industry's push for deferment of the tax implementation.

Representational Image.
 Representational Image.

New Delhi: The GST Council today relaxed return filing rules for businesses for the first two months of the rollout of the new indirect tax regime even as it stuck to the July 1 launch date.

The industry has been pushing for deferment of the tax implementation. As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.

 

"To obviate any lack of preparedness, a slight relaxation of time for two months -- July-August -- has been given. From September, strict adherence to time will go on," Finance Minister Arun Jaitley told reporters here today.

In relief for AC hotels, the Council decided to raise the threshold for the 28 per cent tax to RS 7,500 from Rs 5,000 at present. This would mean that an 18 per cent GST will be levied on bills of Rs 2,500-7,500.

The Council decided to tax lotteries in two segments -- with state-run ones attracting 12 per cent GST and the state-authorised 28 per cent. Additionally, it has cleared six rules, including anti-profiteering. "I hope we are not compelled to use it (anti-profiteering)," Jaitley added.

 

"A number of companies and trade have been raising the issue of lack of preparedness. We don't have the luxury of time to defer GST implementation," Jaitley made it clear.

The official launch of the goods and services tax (GST) is slated for mid-night of June 30 and July 1. 

Tags: gst, gst council, gst rollout, anti-profiteering rule, gst slab, finance minister arun jaitley, lottery, hotels, gst council meet
Location: India, Maharashtra, Mumbai (Bombay)