Applicability of E - Way Bill on Inter State Basis from 1st April 2018:-

From 1st April 2018 E – Way Bill Operations are Compulsory throughout the Nation for Inter Sate Supply and Intra State Supply within the State of Karnataka.

E – Way Bill can be generated in Four Modes such are Web System, SMS System, API System and Bulk Generation System.

 

Applicability of E - Way Bill on Intra State (Within State) Basis from 15th April 2018:-

In Karnataka State E – Way Bill is mandatory within the State as well as Intra State along with Inter State Supply. From 15th April 2018 E – Way Bill Operations are Compulsory within the State i.e. Intra State in Andhra Pradesh, Gujarat, Kerala, Telangana and Uttar Pradesh.

 

Applicability of E –Way Bill: -  

Every Registered Tax Payer is required to Generate E – Way Bill when Value of Supply Exceeding Rs. 50000 and Inter State Supply but in Certain Cases for Intra State Supply E –Way Bill is required to Generate.

 

GST TRAN – 2

Any Taxpayers who are registered under Goods and Service Tax but Not Registered Previously i.e. under any Tax Laws before GST Regime can claim Input of Tax on Stock Lying as on 30th June 2017 by filing GST TRAN -2.

Conditions to file GST TRAN – 2: -

·         Tax Payer should not be registered under Pre GST Regime (i.e. No Registration under any Tax).

·         Tax Payer should not Posses any Document which evidence Payment of Tax, i.e. No Tax Payment in earlier Tax Laws.

·         Tax Payer should not be Manufacturer under Central Excise Law.

·         Tax Payer should not be Service Provider under Service Tax.

 

Due to File GST Tran – 2 is extended up to 30th June 2018 for Period 1st July 2017 to 31th December 2017.

 

RFD – 10

RFD – 10 is form to be filled by Tax Payer to claim of Input Tax Credit on Tax Paid Purchases made by Tax Payer and Tax Payer Supplies Zero Rated Goods or Provides Zero Rated Services against such Purchase can claim Input of Tax Payment on Such Purchases in Form RFD – 10. RFD – 10 can filed within 18 Months from the End of the Quarter for which Tax payer want to claim Refund of Input Tax Credit on Purchase against Zero Rated Goods Supplies or Zero Rated Services.

 

Composition Scheme

Tax Payer who opted in Composition under GST Regime before 31st March 2018 (which is last date to opt in Composition Scheme under GST Regime)   have to file form ITC – 03 within 60 Days of commencement of Financial Year 2018-19 (i.e. Before 30th May 2018) to declare the Reversal of Input Tax Credit on Input Goods or Capital Goods or on Semi Finished Goods or on Finished Goods.

 

TDS and TCS Provisions

Provisions of Tax Deducted at Source and Provisions of Tax Collected at source under Goods and Service Tax will not be applicable till 30th June 2018.

 

Reverse Charge Mechanism

Provisions of Reverse Charge Mechanism (RCM) under Goods and Service Tax will not be applicable till 30th June 2018.

 

Export Promotion Schemes

Exporter can continue to avail Export Promotion Scheme till 1st October 2018.

 

Latest Version of GSTR -4 on GST Portal

Latest Version of GSTR – 4 is available on GST Portal; Tax Payers can download from Download section on GST Portal.

 

Change of Tax Payer Status from SEZ to Regular or Regular to SEZ

Any Tax Payer who had not opted or Migrated as SEZ and now want to opt status as SEZ Tax Payer can opt by sending mail on This email address is being protected from spambots. You need JavaScript enabled to view it. and attaching Copy of LOA for obtaining registration as SEZ/SEZ developer units.

Any Tax Payer who had opted or Migrated as SEZ and now want to opt status as Regular Tax Payer can opt by sending mail on This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

Due Dates for Different forms

 

GSTR - 1

Due Date for GSTR – 1 is 10th of Succeeding Month whose Turnover Exceed or Expected to Exceed Rs. 150 Lakh or 1.5 Crore

Due Date for GSTR – 1 is 10th of Succeeding Quarter whose Turnover Does Not Exceed or Expected Not To Exceed Rs. 150 Lakh or 1.5 Crore.

 Due Date for GSTR – 1 is 10th of Succeeding Month for E – Commerce Seller Irrespective of Turnover.

 

GSTR – 3B

Due Date for GSTR – 3B is 10th of Succeeding Month irrespective of Turnover or Type of Tax Payer.

 

GSTR – 4

 Due Date for GSTR – 4 is 10th of Succeeding Quarter

 

GSTR – 5

Due Date for GSTR – 5 is 10th of Succeeding Month.

 

GSTR – 5A

Due Date for GSTR – 5A is 10th of Succeeding Month.

 

GSTR - 6

Due Date for GSTR – 6 is 31th May 2018 for the Period July 2017 to April 2018.

 

GST TRAN - 2

Due Date for GST TRAN – 2 is 30th June 2018 for Period July 2017 to April 2018.

 

RFD - 10

Form RFD – 10 can be filed within 18 Months from the End of Quarter for Refund of Input Tax Credit is sought.

 

Penalties for Late Filing of Different GST Forms

Late fee for Late Filing of Form NIL Returns – GSTR – 1, GSTR – 3B, GSTR -4, GSTR -5 is RS. 20 Per Day.

Late fee for Late Filing of Form Normal Returns (i.e. Returns those contains Transactions) – GSTR – 1, GSTR – 3B, GSTR -4, GSTR -5 is RS. 50 Per Day.

 

Late fee for Late Filing of Form GSTR 5A NIL Return is RS. 100 Per Day.

 

Late fee for Late Filing of Form GSTR – 5A Normal Return (i.e. Returns those contains Transactions) – GSTR – 5A is RS. 200 Per Day.

 

Maximum Penalty can be imposed on Tax Payer for Late Filing of GST Returns or Forms is Rs. 5000.

 

Rs. 200 per Day can be charged for Late Filing of Annual Returns subject to Maximum of Rs. 25% of Turnover.

 

Note: - Above Penalty on Late Filing of GST Return or Forms may be Reduced or Increased through Notification.   

 

Interest on Late Deposit of TAX

18% PA can be Charged for Late Deposit of Tax under Goods and Service Tax.

24% PA can be Charged for Excess Input Claimed or Reeducation in Output Tax Liability.   

 

 

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