Rates of GST Compensation Cess

https://drive.google.com/open?id=0B1rRav-P4-8JQWJaVDMxRDlqUEE

GST HSN Code

GST HSN Code List in EXCEL:
https://drive.google.com/open?id=0B1rRav-P4-8JdlczYlpILXdvanc

GST HSN Code List in PDF
https://drive.google.com/open?id=0B1rRav-P4-8JbHhEeE0ycXpxbzQ

Service Tax Return for the period 1.4.2017 to 30.06.2017

Service Tax return for the period 1st April, 2017 to 30th June,2017 shall be submitted by 15th Aug. 2017, in form ST-3 or ST-3C as the case may be, period for revision of the return shall be 45 days from the date of submission of return.

Source:
https://drive.google.com/open?id=0B1rRav-P4-8JelI0dzY0Q3V4Nkk

Relaxation in return filing procedure for first two months of GST implementation

With the objective of ensuring smooth rollout of GST and taking into account the concerns expressed by the trade and industry regarding filing of the returns in GST regime, it has been decided that, for the first two months of GST implementation, the tax would be payable based on a simple return (Form GSTR-3B) containing summary of outward and inward supplies which will be submitted before 20^th of the succeeding month. However, the invoice-wise details in regular GSTR – 1 would have to be filed for the month of July and August, 2017 as per the timelines given below –

Month	GSTR – 3B	GSTR – 1	GSTR – 2 (auto populated from GSTR-1)
July, 2017	20th August	1st – 5th September*	6th – 10th September
August, 2017	20th September	16th – 20th September	21st  – 25th September

* Facility for uploading of outward supplies for July, 2017 will be available from 15^th July, 2017.

No late fees and penalty would be levied for the interim period. This is intended to provide a sense of comfort to the taxpayers and give them an elbow room to attune themselves with the requirements of the changed system. This not only underlines the government’s commitment towards ensuring that all the stakeholders are on board but also provides an opportunity to the taxpayers to be ready for this historic reform.

Records to be maintained by owner or operator of godown or warehouse and transporters

(1) Every person required to maintain records and accounts in accordance with the provisions of sub-section (2) of section 35, if not already registered under the Act, shall submit the details regarding his business electronically on the Common Portal in FORM GST ENR-01, either directly or through a Facilitation Centre notified by the Commissioner and, upon validation of the details furnished, a unique enrolment number shall be generated and communicated to the said person.

(2) The person enrolled under sub-rule (1) as aforesaid in any other State or Union territory shall be deemed to be enrolled in the State or Union territory.

(3) Every person who is enrolled under sub-rule (1) shall, where required, amend the details furnished in FORM GST ENR-01 electronically on the Common Portal either directly or through a Facilitation Centre notified by the Commissioner.

(4) Subject to the provision of rule 1, any person engaged in the business of transporting goods shall maintain records of goods transported, delivered and goods stored in transit by him alongwith GSTIN of the registered consignor and consignee for each of his branches.

(5) Subject to the provision of rule 1, every owner or operator of a warehouse or godown shall maintain books of accounts with respect to the period for which particular goods remain in the warehouse, including the particulars relating to dispatch, movement, receipt, and disposal of such goods.

(6) The owner or the operator of the godown shall store the goods in such manner that they can be identified item wise and owner wise and shall facilitate any physical verification or inspection by the proper officer on demand.

REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY

[As per discussions in the 16th GST Council Meeting held on 11th June, 2017]

Sub section (1) of section 10 read with sub-section (2) of the same section of the Central Goods and Services Tax Act, 2017 [CGST Act] provides that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed Rs.50 lakh, may opt to pay, in lieu of the tax payable by him, an amount calculated at the rate of:

• 1% of turnover in State or turnover in Union Territory in case of a manufacturer;
• 2.5% of turnover in State or turnover in Union Territory in case of persons engaged in making supplies referred to in Paragraph 6(b) of Schedule II to the CGST Act [6(b) supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption), where such supply or service is for cash, deferred payment or other valuable consideration.]; and
• 0.5% of turnover in State or turnover in Union Territory in case of other suppliers.

The said sub-section also provides that the said limit may be increased upto Rs.1 crore on the recommendations of the GST Council.

The GST Council, in its meeting held on 11th June, 2017, has recommended increase in the aforesaid turnover limit for Composition Levy for CGST and SGST purposes from Rs. 50 lakh to Rs.75 lakh in respect of all eligible registered persons, referred to in the aforesaid sub­section. 

However, whether the same increased turnover limit for Composition levy will apply in case of Special Category States or not will be decided in the next GST Council meeting.

IGST Exemptions/Concessions under GST

 [As per discussions in the GST Council Meeting held on 18th/19th May, 2017]

https://drive.google.com/open?id=0B1rRav-P4-8JQUd4cWR2ZkJjR2c