SG Tax Consultant

Information to taxpayers regarding Late fee amount shown in GSTR 3B of September, 2017

18/10/2017

Some taxpayers are reported that there is late fee amount shown in their GSTR 3B return, for the month of September, 2017, even though the last date of filing GSTR 3B return for the month of September, 2017, is 20th October, 2017. This is not for any delay on filing of GSTR 3B for September, 2017 (as last date of filing GSTR 3B is 20th October). It is on account of late filing of return for previous period, i.e. August, 2017.

The system does entry into ledgers from GSTR 3B return on the date on which return is submitted (entries get frozen). The late fee for the difference of date of submission and prescribed due date of filing, till the date of submission is applied in that month itself. In case the return is filed later than the date of submission, then the differential late fee for the gap between date of filing and last date of filing return or date of submission (whichever is later), is added in the next month’s return.

The delay between date of submission (D1) and date of filing (D2) [ie 8th to 23rd September for five days] amounting to Rs. 1000.00 (5*100*2), is to be paid by the taxpayer in the month of October, while filing GSTR 3B return for the month of September. The same is now being added in the return and shown to the taxpayer.

http://indianexpress.com/article/business/economy/govt-waives-fee-on-late-filing-of-gstr-3b-return-4825900/

Government waives fee on late filing of GSTR-3B return Finance minister Arun Jaitley, while announcing the figures for GST collections for July, had said that a nominal late filing penalty of Rs 100 per day for CGST and SGST each will be levied for those who haven’t yet paid the GST.

Tax firm

Hello,

Here are the important announcements from yesterday’s GST council meeting.

Businesses with annual turnover of upto INR 1.5 Crores
Quarterly filing of GSTR 1, 2 and 3 along with the payment of tax from 3rd Quarter of the Financial Year, i.e October to December 2017. GSTR 1,2 and 3 are to be filed monthly for the months of July, August and September. Till December, monthly filing of GSTR 3B is also required.
Need not pay GST at the time of receipt of advances for supply of goods
Service providers:
Exemption from GST Registration if the aggregate turnover is less than INR 20 Lacs (INR 10 Lacs in special category state except J&K) even if making inter-state supplies of services
TDS/TCS provisions postponed till 31st March 2018
Services provided by a GTA to unregistered persons exempted from GST
Composition scheme:
Eligibility raised to INR 1 crore except for special category state (Except J&K and Uttarakhand), which is increased to INR 75 Lacs from INR 50 Lacs
Businesses providing exempted services now eligible for composition scheme
Reverse charge mechanism applicable for purchases from unregistered dealers shall be suspended till 31st March 2018
E-way bill system shall be rolled out nationwide from 1st April, 2018
Last date for filling GSTR-4 for 1st Quarter shall be extended to 15th November, 2017
Last date for filling GSTR-6 by ISD for the month of July, August and September, 2017 shall be extended to 15th November 2017
Subscribe
Subscribe to our Youtube channel for latest updates, tips and training on GST

GIC decides to extend Date of GSTR 1, GSTR 2 and GSTR 3 for the month of July to 10th, 25th and 30th September 2017 respectively.
7:58 PM - Sep 4, 2017

The Government has decided to extend the due date for filing GSTR1, GSTR2 and GSTR3 return to help businesses comply with the new regulations. Prior to the announcement today, GSTR1 for July and August was due on 5th September and 16th September. GSTR2 for July and August was due on 10th and 25th September. Finally, GSTR3 for July and August were due on 15th and 30th September. However, the due dates have now been changed and taxpayers have been provided more time to comply with GST return filing. The change of dates was announced through the official twitter handle of GST on September 4th, 2017.