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GSTN launches new facility for exporters to claim refunds

GSTN launches new facility for exporters to claim refunds

GSTN launches new facility for exporters to claim refunds

GST Network (GSTN)  today said it has introduced a utility Table 6A in Form GSTR1 for exporters to claim refunds.

An exporter can claim the refund of Integrated GST tax paid at the time of export by filling the details of shipping bill and tax paid GST invoice in his Form GSTR1 in the relevant month.

“Table 6A of Form GSTR1 has been introduced on the GST portal,” GSTN said in a statement.

The shipping bill filed by an exporter with customs authorities is considered to be an application for refund of integrated tax paid on the goods exported out of India.

Table 6A of FormGSTR1 enables taxpayers to file export related data for the tax period so that refund of that tax- period may be processed on the basis of the declaration made under Form GSTR 3B and Table 6A of GSTR 1.

Since for the months of August, September and October a number of taxpayers have filed return GSTR- 3B but as the dates for filing of GSTR-1 for August onwards have not yet been notified and GSTR1 has not been filed, therefore to enable exporters to file for refund, this functionality has been made available, the GSTN said.

Also Read: Offline version for GSTR-4 preparation launched on GST portal

Exporters can save and upload their export data which are part of GSTR-1 after filling up export details in table 6A.

The table will be then extracted separately and after exporters digitally sign it, it would automatically go to the customs department.

The customs department will then validate the information provided in the table with the shipping bill data and also the taxes paid in GSTR-3B.

The refund amount would be either credited to exporter’s bank account through ECS or a cheque would be issued.

“Every registered taxable person who has made exports on payment of IGST, other than an input service distributor or compounding taxpayer or TDS deductor or TCS collector can file Table 6A of Form GSTR1 electronically on the GST Portal” GSTN CEO Prakash Kumar said.

The table can be filed from the returns section of the GST Portal.


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Source: ET
GST interim returns: Over 30 lakh paid tax in August, matching July trend

GST interim returns: Over 30 lakh paid tax in August, matching July trend

gst forum

While the number of businesses registered for the goods and services tax (GST) has crossed 90 lakh, much higher than tax base in the previous regime, filing of even the interim (summarised) returns and tax payments are not keeping pace. Just over 30 lakh taxpayers have filed the interim return (GSTR-3B) for August, before the stipulated September 20 deadline, GST Network (GSTN) chairman Ajay Bhushan Pandey told FE. The glitches plaguing GSTN, the inability of a sizeable section of SMEs to comply and a general lackadaisical tendency among taxpayers are said to be reasons for the slack in the return-filing process. But the filing pace for August was not much slower than it for July GST — by August 20, the initial deadline for GST payment for July, only 32 lakh taxpayers filed the interim return and made tax payments; the figure rose to 39 lakh by August 29, the extended deadline without penal interest, and then to 49 lakh till date.

While about Rs 92,300 crore was collected as GST for July till August 20, a similar amount has been paid by the taxpayers till Wednesday for August GST, sources said. To make things easier for the business, the GST Council had extended the last dates for filing detailed returns — GSTR1, GSTR2 and GSTR3 — but businesses need to pay the tax with GSTR-3B filing. However, the slow pace at which even the interim returns are being filed is vexing the government — a TV channel reported that finance minister Arun Jaitley has asked the Central Board of Excise and Customs to submit daily reports of GST filings. With the GSTR1 for outward supplies for the month of July can now be filed until October 10 and GSTR2 for inward supplies by October 31, the government is now putting in place an interim arrangement for refund of taxes to exporters, as waiting for these funds for longer periods could hit the liquidity of thousands of exporters. Pandey said that some assessees were still filing return for July along with August. For July, there were nearly 60 lakh eligible taxpayers and this number must have moved up for August and new registrants are being added.

Pandey said the GSTN portal could handle the sudden rush in filings in the last two to three days, which displayed its robustness. He said GSTN accepted up to 85,000 returns per hour on Wednesday, as nearly 14 lakh assessees filed the interim summarised return on that day. While the government is keeping its fingers crossed on the GST revenue, analysts expect it to cut rates — at least for the goods that fall under 28% slab — given the robustness of collections. The government is closely examining the huge transitional credit claims of Rs 65,000 crore by the industry — these can be availed of by the industry against its supplies in the next six months. Sanjay Garg, partner, indirect tax, KPMG in India, said: “Expansion in the tax base at the outset due to the applicability of GST on transactions not taxed before would likely shrink after the industry avails the credit generated by payment of tax on such newly-taxable transactions. The GST collections might decline. It is apparent that fingers would remain crossed at least for next two quarters of (FY18).” Earlier this month, the GST Council had constituted a group of ministers (GoM) under Bihar deputy chief minister Sushil Modi, to resolve issues faced by businesses while filing returns and paying taxes on GSTN portal. The GoM met earlier this week, and assured taxpayers that most technical glitches in GSTN would be resolved by October-end.


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Source :  Financial Express
Outcome of the 21st GST Council Meeting held at Hyderabad

Outcome of the 21st GST Council Meeting held at Hyderabad

21st gst council meeting

The GST Council today met for the 21st time to discuss some of the issues after the implementation of the Goods and Service Tax or GST. During the meet, various states raised the challenges faced by traders and enterprises in registering and filing GST returns.

The major highlights of the meeting are as under:

  • The last date for filing of sales return or GSTR-1 has been extended by a month to October 10 instead of September 10 earlier.
  • The Council increases cess on mid-sized cars by 2%, big cars by 5 % and SUV by 7%. No change in small cars, 13-seater vehicles & hybrid cars.
  • The deadline for GSTR-3B—a self-declaration form—have been extended by four months.
  • Handicraft artisans with annual earnings of upto Rs 20 lakh will not require GST registration.
  • The governement decided to form a 3-member inter-ministerial team to look at the functioning of GSTN to address issues faced by users while uploading GST returns
  • The Council discussed tax rates of 134 items, including unbranded food products.
  • Businesses selling branded food are deregistering their brands to evade tax as unbranded food is not taxed. The fitment committee proposed to the GST Council to consider May 15, 2017, as the cut-off date for considering a brand as registered for the purpose of levy of GST, irrespective of whether or not the brand is subsequently deregistered.


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Source: GST India Expert