News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
News Headlines »
 DIY guide to file your ITR
 Income Tax return online filing: Ensure your Form 16 is valid and here is how you can check for it
 How to report income from investments ITR filing
 How to file income tax returns?
 Will income tax department extend July 31 deadline for ITR filing?
 5 smart things to know about income tax return
 How to file ITR 1 with salary, home loan and other income for FY 2018-19
 Filing ITR online? Here's how you can check if your Form 16 is valid
 What to check in your Form-16 while filing ITR
 Here is how to file income tax return online
 Filling income tax return forms not a smooth affair

GST rollout on July 1: Deadline for filing tax returns extended
June, 19th 2017

The GST Council on Sunday 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.

According to 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.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions