Prime Minister’s Office calls top officials to discuss GST refunds

Prime Minister’s Office calls top officials to discuss GST refunds
By PTI | Updated: Mar 11, 2018, 06.43 PM IST

Claims of about Rs 10,000 crore are stuck due to discrepancies in the information furnished by exporters to GST Network (GSTN).
NEW DELHI: The Prime Minister’s Office has called a meeting of top officials of commerce and finance ministries tomorrow to discuss the issue of GST refunds as exporters claimed that their 70 per cent of refunds are still stuck even after eight months of roll out of the new tax regime.
The meeting would also assess the impact of delay in refund process on exports and manufacturing, sources said.

The issue of refunds to exporters has been hanging fire for over five months now, with exporters complaining that delay in GST refunds has blocked their working capital.
The revenue department, on the other hand, has argued that there are discrepancies in forms submitted by exporters with the customs department and those with the GST Network (GSTN).
The Central Board of Excise and Customs (CBEC) has sanctioned Rs 4,000 crore worth refunds to exporters in four months since October. Still, claims of about Rs 10,000 crore are stuck due to discrepancies in the information furnished by exporters to GST Network (GSTN) through forms like GSTR 1 or Table 6A or GSTR 3B, and the shipping bills filed with the Customs.
According to sources, the meeting would be attended by Finance Secretary Hasmukh Adhia, Commerce Secretary Rita Teaotia, CBEC Chairperson Vanaja Sarna and top officials from the Directorate General of Foreign Trade (DGFT).
The DGFT, under the Commerce Ministry, is slated to make a presentation before the Principal Secretary to the Prime Minister on the pending refunds to exporters.
The GST Council in October last year had said that an e-wallet mechanism for refunds to exporters would be developed and had entrusted the DGFT to prepare required norms for the implementation from April, 2018.
Under the e-wallet mechanism, a notional credit would be transferred to the exporters account based on their past record and the credit can be used to pay taxes on input.
The GST Council in its meeting on Saturday decided to defer implementation of the e-wallet scheme for refunds to exporters till October 1.
To ease exporter woes, the Council had also allowed exporters to continue to claim tax exemptions for an extra 6 months till October 1, 2018.
Accordingly, merchant exporters can pay a tax at the rate of 0.1 per cent on goods procured for export purposes and obtain a refund for the same.
Also, domestic procurement made under Advance Authorisation, EPCG and EOU schemes are being recognised as ‘deemed exports’ with flexibility for either the suppliers or the exporters being able to claim a refund of GST/IGST paid thereon.
Exports during April-January 2017-18 grew by 11.75 per cent to USD 247.89 billion as against USD 221.82 billion in the year-ago period.

GST 26th GST Council meeting updates

26th GST Council meeting updates :

1. Intra-state e-way bill to be rolled out from April 15 in a staggered manner. Entire country to be covered by 1st June. States to be divided into 4 lots to execute the staggered rollout.
2. Council plans  for returns simplification.
3. Existing system of filing returns 3B has been extended for another 3 months and meanwhile Group of Ministers on the Income Tax will look into it & consult tax experts among others.
4. No new items under GST.
5. Relief for exporters, tax exemption extended by 6 months.
6. Implementation of reverse charge mechanism has also been extended by three months.

GST Council updates today’s

(1) GST Council updates..

GST council defers applicability of reverse charge till July, 2018..

(2) 

GST Council approves rollout of intra-state e-way bills in phases manner from 15th April.

Kerala, Karnataka, Tamil Nadu likely to roll out e-way bills in first phase.

GSTR-3B may be extended till June, simplified return forms on cards

GSTR-3B may be extended till June, simplified return forms on cards
By ET Bureau |

The last date for filing initial GSTR-3B returns for a month is the 20th of the subsequent month.
NEW DELHI: The GST Council in its meeting on Saturday is likely to extend the deadline for filing of simplified sales return GSTR-3B by three months till June.
The Council, chaired by Finance Minister Arun Jaitley and comprising his state counterparts, is also expected to finalise a simplified return filing procedure for businesses registered under Goods and Services Tax (GST) regime.
“The new return filing system, if agreed upon by the Council, would take about 3 months to be implemented. Till then GSTR-3B could continue,” an official told PTI.

The 26th GST Council meet is slated on March 10.
Simplified sales return GSTR-3B was introduced in July, the month of GST roll out, to help businesses to file returns easily in the initial months of GST roll out. This was to be followed with filing of final returns — GSTR – 1, 2 and 3.

With businesses complaining of difficulty in invoice matching while filing final returns as well as complications in GSTN systems, the GST Council in November last year extended GSTR-3B filing requirement till end of March, 2018, and did away with filing of purchase return GSTR-2 and final return 3.
“GSTR-3B filing system has stabilised and businesses are comfortable. So, businesses can continue to pay taxes by filing 3B till the time new return filing system is put in place,” the official added.

The last date for filing initial GSTR-3B returns for a month is the 20th of the subsequent month.
The GST Council had in January entrusted Bihar Deputy Chief Minister Sushil Kumar Modi led GoM to work out a simplified return filing process so that businesses can fill up only a single form to file returns under GST.
The group of ministers met last month to work out a simplified return form, but the meeting remained inconclusive.
In the GoM meet, the Centre and state officials presented their model for return simplification, while Nandan Nilekani also made his presentation. The idea is GST return form should be simplified, it should ideally be one return every month, Modi had said.
About 8 crore GST returns have been filed so far on GST Network portal since implementation of GST on July 1.
In absence of anti-evasion measures and invoice matching, the GST collections have declined since July.
As per official data available, in January 57.78 lakh GSTR-3B returns were filed, which fetched Rs 86,318 crore revenue to the exchequer.
For December 56.30 lakh GSTR-3B were filed which fetched Rs 86,703 crore revenue to the exchequer, while in November 53.06 lakh returns were filed with total revenue of Rs 80,808 crore.
Collections topped Rs 95,000 crore in the initial month of July.

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टैक्‍सपेयर्स को राहत, GSTN पोर्टल पर चेक कर सकेंगे सप्‍लायर की रिटर्न फाइलिंग

1 अप्रैल से पहले ठीक कर लें GST रिकॉर्ड, नहीं तो लगेगी पेनल्टी

1 अप्रैल से पहले ठीक कर लें GST रिकॉर्ड, नहीं तो लगेगी पेनल्टी

जीएसटी
जीएसटी के पोर्टल पर ऐसे अपलोड होगी रिटर्न

नई दिल्ली। कारोबारी और ट्रेडर्स 1 अप्रैल से पहले अपना जीएसटी रिकॉर्ड और रिटर्न फाइलिंग का पैटर्न ठीक कर लें, नहीं तो आगे उन्हें परेशानी हो सकती है। सरकार पहले ही कह चुकी है कि 1 अप्रैल से उनका रिटर्न फाइलिंग का जीएसटी सिस्टम समय अनुसार काम करेगा और तब समय पर रिटर्न फाइल नहां करने पर कारोबारियों को जुर्माना भी भरना पड़ सकता है। ऐसे में कारोबारी पेंडिंग रिटर्न और मार्च महीने की रिटर्न समय पर फाइल कर दें।

अपना रिकॉर्ड करें ठीक

टैक्स एक्सपर्ट एम के गांधी ने moneybhaskar.com कहा कि कारोबारी और ट्रेडर्स मार्च तक अपनी पेंडिंग रिटर्न भर लें और मार्च से पहले अपना ट्रैक रिकॉर्ड ठीक कर लें। सरकार का टारगेट था कि जीएसटी सिस्टम को 1 अप्रैल 2018 तक रेगुलर करेगी यानी सभी रिटर्न अपनी डेडलाइन वाले समय पर मंथली जाएगी। 1 अप्रैल के बाद से रिटर्न देर से फाइल करने पर कारोबारियों को लेट फीस चार्ज भी देना पड़ेगा। ऐसे में कारोबारी अपनी पिछली पुरानी पेंडिंग रिटर्न भर दें और मार्च की रिटर्न भी समय पर फाइल कर दें। ताकि, 1 अप्रैल से कारोबारी किसी भी परेशानी में न फंसे।

मार्च में जाएंगी ये रिटर्न

– मार्च में जनवरी 2018 की जीएसटीआर-1 रिटर्न जाएगी जिसकी डेडलाइन 10 मार्च 2018 तक है।

– 31 मार्च 2018 तक जुलाई 2017 से फरवरी 2018 तक जीएसटीआर-6 रिटर्न फाइल करनी है। जीएसटीआर-6 इन्पुट सर्विस डिस्ट्रीब्यूटर को भरनी है जिसमें इन्पुट टैक्स क्रेडिट रिसीवड की जानकारी होगी। ये जीएसटीआर रिटर्न सभी कारोबारियों और ट्रेडर्स को भरनी होगी क्योंकि ज्यादतर सभी इन्पुट टैक्स क्रेडिट रिसीव करते हैं।

– 1.50 करोड़ रुपए तक टर्नओवर वाले कारोबारी जिन्होंने कंपोजिशन स्कीम ली है और जिन्होंने नहीं ली है वह अपनी पेंडिंग रिटर्न फाइल कर दे।

यहां से डाउनलोड कर सकते हैं जीएसटीआर फॉर्म

कारोबारी और ट्रेडर्स इस लिंक https://www.gst.gov.in/download/returns पर क्लिक करके जीएसटीआर रिटर्न के फॉर्म और ऑफलाइन टूल डाउनलोड कर सकते हैं। ये एक तरह की जिप फाइल है जिसमें रिटर्न फॉर्मेट से लेकर इन्वॉयस की ऐक्सल शीट भी है।

पोर्टल पर रिटर्न और बिल बनाने का है ऑफलाइन टूल

जीएसटी के पोर्टल पर जीएसटी सॉफ्टवेयर टूल है जिसे कारोबारी अपने कंप्यूटर पर डाउनलोड कर सकते हैं। ये सॉफ्टवेयर टूल एक्सल फॉरमेट और जावा स्क्रिप्ट में है। इस एक्सल फॉरमेट पर आप अपने बिल बना सकते हैं। बिल की जानकारी एक्सेल शीट में सेव करके इसे ही जीएसटी के पोर्टल पर रिटर्न के साथ अपलोड कर सकते हैं।

ऑफलाइन टूल की जिप फाइल में मिलेंगी ये डिटेल्स

– जीएसटी ऑफलाइन टूल

– सेक्शन वाइज सीएसवी फाइल्स

– जीएसटीआर ऐक्सल वर्कबुक टेम्पलेट

– यूजर मैनुअल

– टैक्सपेयर्स के सवालों के जवाब भी इसमें हैं।

– टैक्सपेयर्स को जीएसटी ऑफलाइन टूल पर डबल क्लिक कर अपने कंप्यूटर सिस्टम पर डाउनलोड करना होगा।

More trouble for taxpayers! CBEC directs not to use disputed transitional CENVAT credit under GST; details here

More trouble for taxpayers! CBEC directs not to use disputed transitional CENVAT credit under GST; details here
The department has also mentioned that if the taxpayers failed to do so, the amount along with the interest and penalty will be recovered from them.

The taxpayers have been directed not to utilise disputed transitional CENVAT credit under the goods and services tax (GST) regime. (Express photo)
The taxpayers have been directed not to utilise disputed transitional CENVAT credit under the goods and services tax (GST) regime. This has been informed by Central Board of Excise and Customs (CBEC) in a circular. The department has also mentioned that if the taxpayers failed to do so, the amount along with the interest and penalty will be recovered from them, according to Indian Express reports. However, questioning the denial of disputed CENVAT credit against GST liability, the Tax experts have said that such step could invite litigation. According the report, Ernst & Young (EY) in a note said that the circular by CBEC seems to be in suppression of the position under the law and hence it could invite litigation.

According to EY, the GSTN portal till now did not give the taxpayer the option to retain part of the credit without utilising it fully while computing GST liability exceeding such credit. However, this circular could result in the recovery of credit with interest and penalty. This will be triggered in all such cases where a taxpayer had utilised the credit, as the tax authorities will be bound to follow the circular.

Also, as per the circular, the taxpayers are not allowed to utilise the blocked credit which is ineligible under GST law. CBEC has disallowed utilisation of blocked credit such as for telecommunication towers and pipelines laid outside the factory premises for payment of tax liability.

Not just that, according to report, the taxpayers – who have more than Rs 10 lakh in disputed or blocked credit – must submit an undertaking to the jurisdictional officer of the central government. Such taxpayers must give in writing saying that such credit will not be utilised or has not been availed as transitional credit. However, as per the circular, in other cases of transitional credit of an amount lesser than Rs 10 lakh, the directions as above shall apply but the need to submit the undertaking shall not apply.

To this EY was quoted as saying that the directions to submit an “undertaking” for non-utilisation of disputed or blocked credits is unwarranted. It added by saying that this will require reconsideration as it would add to the compliance burden of the taxpayer.