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 »
 Amendment of Income-tax Rules, 1962 for notifying Challan-cum statement for the purposes of section 194M of the Income-tax Act, 1961
 How To Prepare And File Income Tax Return (ITR) Online: A Step-By-Step Guide
 Pay extra tax to buy a house below circle rateaGST simplification: Govt ready to consider suggestions on tax filing
 Income tax department's message to those who didn't file ITR this time
 Income-tax (13th Amendment) Rules, 2019
 How you can e-verify your Income Tax Return and get a refund
 GSTR-9, GSTR-9C forms simplified deadline extended
 Income-tax (12th Amendment) Rules, 2019
 Individuals with more than one house cannot use ITR-1 form to file taxes
 Income tax department admits error in charging late ITR filing fee
 How to pre-validate your bank account to get income tax refund Income Tax Return 2019

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