Top 5 major highlights of 23rd meeting of GST Council


highlights of 23rd meeting of GST Council
The 23rd meeting of the GST council was held today 10th November 2017  at Guwahati.  Let us see below, what are the top recommendations made by the GST Council in this meeting:

1) Revised dates of Monthly GST Return filing

GSTR 3B   Till March 2018: All taxpayers will have to file a GST return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018.

GSTR 1 – Till March 2018 :

A) All Taxpayers with annual aggregate turnover up to Rs. 1.5 crore need to file GSTR-1 on a quarterly basis as per the following frequency:

Jul- Sep31st Dec 2017
Oct-Dec15th Feb 2018
Jan- Mar30th April 2018

B)Taxpayers with annual aggregate turnover of more than Rs. 1.5 crore need to file GSTR-1 on monthly basis as per following frequency:

Jul- Oct31st Dec 2017
Nov10th Jan 2018
Dec10th Feb 2018
Jan10th Mar 2018
Feb10th Apr 2018
Mar10th May 2018

C) GSTR 2 and GSTR 3: The time period for filing GSTR-2 and GSTR-3 for the months of July 2017 to March 2018 would be worked out by a Committee of Officers. However, the filing of GSTR-1 will continue for the entire period without requiring the filing of GSTR-2 & GSTR-3 for the previous month/period.

2) Refund of late Fees charged.

A large number of taxpayers were unable to file their return in FORM GSTR-3B within the due date for the months of July, August, and September 2017.  The late fee was waived in all such cases.  It has been decided that where such late fee was paid, it will be re-credited to their Electronic Cash Ledger under “Tax” head instead of “Fee” head so as to enable them to use that amount for discharge of their future tax liabilities. The software changes for this would be made and thereafter this decision will be implemented.

A) For subsequent months, i.e. October 2017 onwards, the amount of late fee payable by a taxpayer whose tax liability for that month was ‘NIL’will be Rs. 20/- per day (Rs. 10/- per day each under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under CGST & SGST Acts).

3) Reduction in GST rates on various items.

It is proposed to issue notifications [giving effect to below recommendations of the Council] on 14th/15th November 2017, to be effective from 00hrs on 15th of November, 2017.

1) Goods on which the Council has recommended a reduction in GST rate from 28% to 18% include:

  • Wire, cables, insulated conductors, electrical insulators, electrical plugs, switches, sockets, fuses, relays, electrical connectors
  • Electrical boards, panels, consoles, cabinets etc for electric control or distribution
  • Particle/fibre boards and plywood. Article of the wood, wooden frame, paving block
  • Furniture, mattress, bedding and similar furnishing
  • Trunk, suitcase, vanity cases, briefcases, travel bags and other handbags, cases
  • Detergents, washing and cleaning preparations
  • Liquid or cream for washing the skin
  • Shampoos; Hair cream, Hair dyes (natural, herbal or synthetic) and similar other goods; henna powder or paste, not mixed with any other ingredient;
  • Pre-shave, shaving or after-shave preparations, personal deodorants, bath preparations, perfumery, cosmetic or toilet preparations, room deodorisers
  • Perfumes and toilet waters
  • Beauty or make-up preparations
  • Fans, pumps, compressors
  • Lamp and light fitting
  • Primary cell and primary batteries
  • Sanitary ware and parts thereof of all kind
  • Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic
  • Slabs of marbles and granite
  • Goods of marble and granite such as tiles
  • Ceramic tiles of all kinds
  • Miscellaneous articles such as vacuum flasks, lighters,
  • Wristwatches, clocks, watch movement, watch cases, straps, parts
  • Article of apparel & clothing accessories of leather, guts, furskin, artificial fur and other articles such as saddlery and harness for any animal
  • Articles of cutlery, stoves, cookers and similar non-electric domestic appliances
  • Razor and razor blades
  • Multi-functional printers, cartridges
  • Office or desk equipment
  • Door, windows and frames of aluminium.
  • The Articles of plaster such as board, sheet,
  • Articles of cement or concrete or stone and artificial stone,
  • Articles of asphalt or slate,
  • A Articles of mica
  • Ceramic flooring blocks, pipes, conduit, pipe fitting
  • Wallpaper and wall covering
  • The glass of all kinds and articles thereof such as mirror, safety glass, sheets, glassware
  • Electrical, electronic weighing machinery
  • Fire extinguishers and fire extinguishing charge
  • Forklifts, lifting and handling equipment,
  • Bulldozers, excavators, loaders, road rollers,
  • Earthmoving and levelling machinery,
  • Escalators,
  • Cooling towers, pressure vessels, reactors
  • Crankshaft for the sewing machine, tailor’s dummies, bearing housings, gears and gearing; ball or roller screws; gaskets
  • Electrical apparatus for radio and television broadcasting
  • Sound recording or reproducing apparatus
  • Signalling, safety or traffic control equipment for transports
  • Physical exercise equipment, festival and carnival equipment, swings, shooting galleries, roundabouts, gymnastic and athletic equipment
  • All musical instruments and their parts
  • Artificial flowers, foliage and artificial fruits
  • Explosive, anti-knocking preparation, fireworks
  • Cocoa butter, fat, oil powder,
  • Extract, essence ad concentrates of coffee, miscellaneous food preparations
  • Chocolates, Chewing gum/bubble gum
  • Malt extract and food preparations of flour, groats, meal, starch or malt extract
  • Waffles and wafers coated with chocolate or containing chocolate
  • Rubber tubes and miscellaneous articles of rubber
  • Goggles, binoculars, telescope,
  • Cinematographic cameras and projectors, image projector,
  • Microscope, specified laboratory equipment, specified scientific equipment such as for meteorology, hydrology, oceanography, geology
  • Solvent, thinners, hydraulic fluids, anti-freezing preparation

2) Goods on which the Council has recommended a reduction in GST rate from 28% to 12% are:

  •  Wet grinders consisting of stone as the grinder
  • Tanks and other armoured fighting vehicles

3) Other changes/rationalisation of GST rates on goods -18% to 12% :

  • Condensed milk
  • Refined sugar and sugar cubes
  • Pasta
  • Curry paste, mayonnaise and salad dressings, mixed condiments and mixed seasoning
  • Diabetic food
  • Medicinal grade oxygen
  • Printing ink
  • Handbags and shopping bags of jute and cotton
  • Hats (knitted or crocheted)
  • Parts of specified agricultural, horticultural, forestry, harvesting or threshing machinery
  • Specified parts of sewing machine
  • Spectacles frames
  • Furniture wholly made of bamboo or cane

4) 18% to 5%

  • Puffed rice chikki, peanut chikki, sesame chikki, revdi, tilrevdi, khaza, kazuali, groundnut sweets gatta, kuliya
  • Flour of potatoes put up in unit container bearing a brand name
  • Chutney powder
  • Fly ash
  • Sulphur recovered in the refining of crude
  • Fly ash aggregate with 90% or more fly ash content

5) 12% to 5%

  •  Desiccated coconut 
  • Narrow woven fabric including cotton newar [with no refund of unutilised input tax credit]
  • Idli, dosa batter
  • Finished leather, chamois and composition leather
  • Coir cordage and ropes, jute twine, coir products
  • Fishing net and fishing hooks
  • Worn clothing
  • Fly ash brick

     6) 5% to nil

  •  Guar meal
  • Hop cone (other than grounded, powdered or in pellet form)
  • Certain dried vegetables such as sweet potatoes, maniac
  • Unworked coconut shell
  • Fish frozen or dried (not put up in unit container bearing a brand name)
  • Khandsari sugar

7) Miscellaneous

  •  GST rates on aircraft engines from 28%/18% to 5%, aircraft tires from 28% to 5%, and aircraft seats from 28% to 5%.
  • GST rate on bangles of lac/shellac from 3% GST rate to Nil.

4) Extension of form submission dates

Taking cognizance of the late availability or unavailability of some forms on the common portal, it has been decided that the due dates for furnishing the following forms shall be extended as under:

S. No.FORM and DetailsOriginal due dateRevised due date
1GST ITC-04 for the quarter July-September, 201725.10.201731.12.2017
2GSTR-4 for the quarter July-September, 201718.10.201724.12.2017
3GSTR-5 for July 201720.08.2017 or 7 days from the last date of registration whichever is earlier11.12.2017
4GSTR-5A for July 201720.08.201715.12.2017
5GSTR-6 for July 201713.08.201731.12.2017
6TRAN-130.09.201731.12.2017 (One- time option of revision also to be given till this date)

Revised due dates for subsequent tax periods will be announced in due course.

5) Changes recommended in Composition Scheme

  • Uniform rate of tax @ 1% under composition scheme for manufacturers and traders (for traders, turnover will be counted only for the supply of taxable goods). No change in composition scheme for restaurant.
  • Supply of services by Composition taxpayer up to Rs 5 lakh per annum will be allowed by exempting the same
  • Annual turnover eligibility for the composition scheme will be increased to Rs 2 crore from the present limit of Rupees 1 crore under the law. Thereafter, eligibility for composition will be increased to Rs. 1.5 Crore per annum.
  • The changes recommended by GST Council at (ii) and (iii) above will be implemented only after the necessary amendment of the CGST Act and SGST Acts.

General Questions of GCM

What is the date of 23rd GST Council Meeting?

10th November 2017

Where Can I find the updates of Todays GST council meeting?

You can find the updates of the GST council meeting at GST India News home page.

Why GST Council meeting takes place?

To decide on various factors in GST like GST Rate revision, GST return updates, and revision, changes in existing law etc.

Is GST Council meeting Live?

Yes. However, the decision can be known correctly only after the press conference by the chairman of the GST Council.

What is the time of the GST council meeting?

You can check it from our home page on the date of the council meeting.

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