Time to time so many Notifications, Orders, Circulars, amendments in Rule/Rates etc have taken place with the passage of time since 1st July 2017 till date. Books on subject have their own reservations that after publishing book, immediate changes taken place which in turn redundant the books, therefore from time to time I compile the latest status of GST – which is Topic Wise for your help is as under:
RETURNS:
1. Turnover > 1.50 crores or not opted for Quarterly Return
(Note – This limit of turnover is aggregate turnover of One PAN No. it is not state wise i.e. if you have not crossed Rs.1.50 crores in any state but aggregate you have crossed the limit of Rs.1.50 crores then you are debarred from Quarter Return Option.)
GSTR – 3B – (Notification No.56/2017 dt.15/11/2017)
On Monthly basis for all – (whether turnover is less or more than Rs.1.50 crores) –
- For Dec 17 – 22/01/2018;
- For Jan 18 – 20/02/2018;
- For Feb 18 – 20/03/2018;
- For March 18 – 20/04/2018;
For and from April, 2018 – No picture clear whether GSTR 3B will be continued or only GSTR 3 will take place as originally defined in the Act. We hope GSTN will work correctly.
GSTR – 1 – (Notification No.58/2017 dt.15/11/2017)
- For Dec 17 – 10/02/2018;
- For Jan 18 – 10/03/2018;
- For Feb 18 – 10/04/2018;
- For Mar 18 – 10/05/2018;
GSTR 2 & GSTR 3 – (Notification No.30/2017 dt.11/09/2017; 54/2017 dt.30/10/2017)
Originally dates came only for July 17 – for GSTR 2 & 3 were 31/10/17 & 10/11/17 respectively then by next notification – these dates extended to 30/11/17 & 11/12/17.
Till today no further dates announced for filing of GSTR 2 & 3.
2. Turnover < 1.50 crores
GSTR 1- dates – are as under (other dates as above)
Qtr Oct to Dec 17 – 15/02/2018
Qtr Jan to Mar 17 – 30/04/2018
GSTR 4 – By composition Tax Payers, in any case it is Quarterly because it can be opt by only those whose turnover is 1 crore.
Qtr Oct to Dec 17 – 18/01/2018
Qtr Jan to Mar 17 – 18/04/2018
GSTR 5 – u/r 63 – within 20 days of the following month every Registered Non Resident has to file his return:
July 17 to Dec 17 – 31st Jan 2018 (Extended by Notification No.68/2017 dt.21/12/2017)
Jan 18 – 20th Feb 2018
Feb 18 – 20th March 2018
March 18 – 20th April 2018 and so on
PENALTIES:
For depositing late fund/return in all cases it is Rs.50/- per day (Rs.25/- CGST + Rs.25/- SGST) and Rs.20/- (Rs.10/- CGST + Rs.10/- SGST) (if turnover is Nil).
This is for GSTR 1, 3B, 4, 5, 5A, 6.
INTEREST:
Under section 50 Interest is to be paid on “Own” and can go max. 18% at present GSTN is not calculating interest on automatic basis only column of “Penalty” is coming as pre-filled therefore you are required to calculate and deposit interest also otherwise at the time of assessment or annual basis interest may be heavily charged on you.