How can a buyer claim GST credit if supplier fails to upload his invoice

  Suppliers forgets to upload invoices issued to a Registered Recipient In case a supplier fails to upload few invoice(s) for supplies to registered persons in his GSTR1 and has filed his GSTR1, there is no need for undue concern for the recipient (buyer). Though, no invoices can be added to a GSTR 1 once it is filed, there are, yet two ways in which the recipient can claim credit and the supplier can discharge his liability on such invoices. These are, The recipient can add such invoices in his GSTR 2. These added invoices would be auto-drafted in the GSTR 1A of the supplier and they can accept them and file their acceptance to the GST portal before filing their GSTR 3 of the month. These invoices will form

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PFMS portal not ready to issue IGST Refund on export of goods

  Instruction No. 16/2017-Customs F. No. 450/119/2017-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Custom) ******** New Delhi, dated the 9th October, 2017 To All Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive), All Principal Chief Commissioners/Chief Commissioners of Customs and Central Excise, All Directors General, All Principal Commissioners/Commissioners of Customs / Customs (Preventive), All Principal Commissioners/ Commissioners of Customs and Central Excise. Sir/Madam, Sub: Refund of IGST paid on export of goods under Rule 96 of CGST Rules 2017 regarding Your attention is invited to Instruction No. 15/2017-Customs dated 09.10.2017 on the aforementioned subject. In this regard a letter has been received from Chief Controller of Account (copy enclosed) wherein they have expressed their inability to initiate the process of disbursement of IGST refund through

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CBEC guideline for Refund of IGST paid on export of goods

  Instruction No. 15/2017- Customs F. No. 450/119/2017-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Custom) ******** New Delhi, dated the 9th October 2017 To All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive). All Principal Chief Commissioners/Chief Commissioners of Customs and Central Excise. All Directors General, All Principal Commissioners/Commissioners of Customs / Customs (Preventive), All Principal Commissioners/ Commissioners of Customs and Central Excise. Sir/Madam, Sub: Refund of IGST paid on export of goods under Rule 96 of CGST Rules 2017 As you are aware, Rule 96 of the CGST Rules 2017 deals with refund of Integrated Tax paid on goods exported out of India. It provides that the shipping bill filed by an exporter shall he deemed to be an application for

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12 decisions taken by GST Council for Small and Medium Enterprises

  The GST Council, in its 22nd Meeting which was held today in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley has recommended the following facilitative changes to ease the burden of compliance on small and medium businesses: Composition Scheme has been extended to taxpayers having annual aggregate turnover of up to Rs. 1 crore. Under composite scheme traders, restaurants & manufacturers will pay 1% , 5% & 2% respectively. A Group of Ministers (GoM) will be constituted soon to examine measures to make the composition scheme more attractive. Quarterly returns for taxpayers with annual turnover less than ₹1.5 crores; Tax to be paid on monthly basis. This threshold of turnover for special category States, except J & K and Uttarakhand, has

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8 Relief Measure approved for exporters by GST Council

  The GST Council under Chairmanship of Union Finance Minister Shri Arun Jaitley has in its 22nd Meeting held at Delhi today approved a major relief package for exporters. 2. Mindful of the difficulties faced by exporters post-GST leading to a decline in export performance and export competitiveness, the Council had last month set up a high power Committee on Exports under Revenue Secretary Shri Hasmukh Adhia to recommend suitable strategies for helping this sector. This Committee had five senior Government functionaries from the Centre and an equal number from the States as members. 3. After wide ranging discussions with major Export Promotion Councils including FIEO, AEPC, GJEPC, EEPC, CLE, CHEMEXIL, PARMAEXCIL and Handicrafts EPC etc. and interacting with all stakeholders the Committee presented its recommendations to the Council today.

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Change in GST Rate on Services / Job Work approved by GST Council

  Decisions taken by the GST Council in the 22″meeting held on 6th October 2017 The following decisions were taken by the GST Council at its 22ndmeeting held in Vigyan Bhavan on 6thOctober, 2017. The information is being uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the list may undergo some changes. The decisions of the GST Council are being communicated for general information and will be given effect to through gazette notifications which shall have force of law. Relief to small units: 1. GST rates on job work services is being rationalised as follows: – S.No Description of Service Rate 1 Job work services in relation to all products falling in Chapter 71 (including imitation jewellery) 5% 2 Job work services

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Recommendations made by the GST Council in its 22nd Meeting

  Recommendations made by the GST Council in its 22nd Meeting held today under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley in the national capital.  The GST Council, in its 22nd Meeting which was held today in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley has recommended the following facilitative changes to ease the burden of compliance on small and medium businesses: Composition Scheme 1. The composition scheme shall be made available to taxpayers having annual aggregate turnover of up to Rs. 1 crore as compared to the current turnover threshold of Rs. 75 lacs. This threshold of turnover for special category States, except Jammu & Kashmir and Uttarakhand, shall be increased to Rs. 75 lacs

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Changes in GST Rates for Goods and IGST Rates on Imports of Goods 

  As per discussions held in the 22nd GST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6th October, 2017, the following changes in GST rates for certain Goods and IGST rates on Imports of specified Goods have been recommended. A. GST RATE FOR FOLLOWING GOODS HAVE BEEN REDUCED S. No. Chapter/ Heading/ Sub-heading/ Tariff item Description Present GST Rate GST Rate Recommended by the GST Council 1. 0804 Mangoes sliced dried 12% 5% 2.   1905 or 2106 Khakra and plain chapati / roti 12% 5% 3. 19 or 21   Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme dulyapproved by the Central Government or any State Government, subject to specified conditions [Foot note 1] 18%   5 %     4. 21 Namkeens other than

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Major announcements of GST Council on meeting dt. 07.10.2017

  The GST council today announced major cuts in taxes of various items and announced various measures to support exporters and small businesses, three months after the new taxation system was launched. “It’s almost three months since GST roll out..returns have been filed for first two months as well. So it was a time to deliberate on its effect on various trades and the transition,” Finance Minister Arun Jaitley said in a press briefing after the meeting of GST Council. Sops for exporters  Keeping in view of the liquidity problem being faced by the exporters, the Council has decided to immediately start refund process for the month of July by 10th October while exporters can get refund of August by 18th October. For the remainder of the fiscal, they will operate under an exempted

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Govt to carry Survey of taxpayers who have not filed GSTR-3B return

  Hasmukh Adhia, IAS Revenue Secretary Government of India Ministry of Finance Department of Revenue 3rd October, 2017 Dear Commissioner, As per the latest figure, about 53 lakh taxpayer (out of 57.57 Lakh) seem to have filed 3B return for the month of July 2017 . While only 42 lakh taxpayers (out of 68.20 lakh) have so far filed 3B return for the month of August 2017. It is understandable that in the initial months, taxpayer did not have full knowledge of how to file return and that is why there is a delay. However, we need to exactly find out the reasons for taxpayers not filing return. 2. I would be grateful if the Commissioner of CBEC as well as Commissioner of Commercial Tax in every State carry out

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