All taxpayers who have become eligible to take input tax credit as per provision of subsection – 1 of section 18 of the CGST Act are required to file FORM GST ITC – 01 by 31st January 2018. This notification is applicable to all taxpayers who have become eligible for the months of July 2017 to November 2017.
A non-resident taxable person who has to file Form GSTR – 5, the last date for filing of the return for the months July 2017 to December 2017 is now 31st January 2018.
A person who is supplying online information and database access or retrieval services from a place outside India to a non-taxable online recipient, as to file FORM GST – 5A by 31st of January 2018 for the months July 2017 to December 2017 on a monthly basis.
CGST Rules have been amended to collect more information for processing of refunds easily. Changes have been made to Table 6 of FORM GSTR – 1, FORM GST RFD – 01, FORM GST RFD – 01A
Clarification has been provided by the department whether the supply of paintings by artists to galleries for exhibition and further sales from the exhibition. There was confusion whether delivery to galleries is a supply or not, now it is classified that it can be treated as supply on approval basis and for this delivery challan has to be issued and if required E-way bill also. At the time of actual sale by the gallery, tax invoice has to be issued.
Clarification has been provided by the department with respect of maintenance of books of accounts relating to the additional place of business by a principal or an auctioneer for the purpose of an auction of tea, coffee, rubber etc.- regarding. Now it is clarified that the principal, the Auctioneer & the buyer has to declare the warehouse as an additional place of business. The principal and the auctioneer have to maintain the books of accounts of each other and also intimate the jurisdictional officer in writing for the additional place of business.
Manual return filing process has been prescribed for the claiming of refund by the taxpayers on account of refund processing module not in place for the online processing of the refund. This manual process is applicable for inverted duty structure, for deemed exporters and also for the payers where excess balance is laying in their accounts.
Under GST all the process is supposed to be online and now the same is not in place for filing of Application for Advance Ruling. Till such time the systems are in place, the manual filing of applications for Advance Ruling and appeals before Appellate Authority for Advance Ruling is provided.
Please ask all your clients to file the returns at the earliest in case if they have not filed any returns under GST. As per clause (C), Subsection – 2 of Section 29 of the CGST Act, the proper officer may cancel the registration if they have not furnished the returns continuously for a period of 6 months in case of the regular taxpayers.
The Author is an SME, Speaker, Author, Advisor on GST and he is founder of India-gst.in . He has written three books titled “Roll Up Your Sleeves for GST, The Impending Tax Reform in India”, “GST” & Good and Simple Tax – GST For You”” and can be reached at firstname.lastname@example.org