{"id":5184,"date":"2017-11-20T10:36:49","date_gmt":"2017-11-20T05:06:49","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=5184"},"modified":"2021-04-03T11:01:19","modified_gmt":"2021-04-03T05:31:19","slug":"23rd-gst-council-meeting","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/23rd-gst-council-meeting\/","title":{"rendered":"GST Council 23rd Meeting: Major changes in GST Rates"},"content":{"rendered":"

Decisions are taken in 23rd<\/sup> GST Council meeting held at Guwahati, Assam on 10\/11\/2017<\/strong><\/p><\/blockquote>\n\n\n\n

In the 23rd<\/sup> GST Council Meeting, the council members have come up with the decisions related to extensions of GST returns due dates, rationalization of the GST Rates, ITC eligibility criteria,  Notifications and exemption relating to Composition Scheme under GST  and much more. This article is describing GST Council 23rd Meeting.<\/p>\n\n\n\n

Changes in GST Return Filing Due Date<\/h2>\n\n\n\n

1. GSTR 3B return filing due to date change:<\/h4>\n\n\n\n

GSTR 3B is the simple return which includes details of sales and purchases for the respective month. As per the 22nd<\/sup> GST Council meeting, it was announced that GSTR 3B<\/a> must be filed by all the registered taxpayers until December 2017.<\/p>\n\n\n\n

However, as per the 23rd<\/sup> GST Council meeting held it is announced that GSTR 3B must be from July 2017 to March 2018 on monthly basis<\/a> before 20th<\/sup> of every month<\/p>\n\n\n\n

2. Change in GSTR 1 due date:<\/h4>\n\n\n\n

Until March 2018 GSTR 1  is to be filed by the following due dates monthly:<\/p>\n\n\n\n

Sr.No.<\/th>Monthly<\/th>GSTR 1 Due Date<\/th><\/tr>
1<\/td>July 2017<\/td>31st<\/sup> December 2017<\/td><\/tr>
2<\/td>August 2017<\/td>31st<\/sup> December 2017<\/td><\/tr>
3<\/td>September 2017<\/td>31st<\/sup> December 2017<\/td><\/tr>
4<\/td>October 2017<\/td>31st<\/sup> December 2017<\/td><\/tr>
5<\/td>November 2017<\/td>10th<\/sup> January 2018<\/td><\/tr>
6<\/td>December 2017<\/td>10th<\/sup> February 2018<\/td><\/tr>
7<\/td>January 2018<\/td>10th<\/sup> March 2018<\/td><\/tr>
8<\/td>February 2018<\/td>10th<\/sup> April 2018<\/td><\/tr>
9<\/td>March 2018<\/td>10th<\/sup> May 2018<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Entities registered under GST and having a turnover of less than Rs. 1.5 crore is given an option to file quarterly returns on following due dates:<\/p>\n\n\n\n

Sr.No<\/th>Quarter<\/th>GSTR 1 Due date<\/th><\/tr>
1<\/td>July  to September 2017<\/td>31st<\/sup> December 2017<\/td><\/tr>
2<\/td>October to December 2017<\/td>15th<\/sup> February 2018<\/td><\/tr>
3<\/td>January to March 2018<\/td>30th<\/sup> April 2018<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

3. Change in GSTR 2 and GSTR 3:<\/h4>\n\n\n\n

The requirement of filing GSTR 2 return<\/strong><\/a> and GSTR 3<\/strong> has been suspended until further notice received from the government. However, it is mandatory to file GSTR 1 as per the schedule provided above.<\/p>\n\n\n\n

4. Waiver of Penalty:<\/h4>\n\n\n\n

The government has waived the late filing penalty for GSTR 3B<\/strong> for the month of July, August and September 2017. In case any taxpayer hah already paid the penalty, the penalty would be credited to the electronic cash ledger.<\/p>\n\n\n\n

5. Reduction of GST Return Penalty<\/h4>\n\n\n\n

In addition to the waiver of GST Return<\/a><\/strong> Penalty, the government has also announced a reduction in GST Return penalty for NIL GST Return. From October 2017 onwards the GST return penalty for not filing NIL GST return has been reduced to Rs.20 per day instead of Rs.200 per day.<\/p>\n\n\n\n

6. Change in GSTR 4 return:<\/h4>\n\n\n\n