Top 5 major highlights of 23rd meeting of GST Council

The 23^rd meeting of the GST council was held today 10^th 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:

Period	Dates
Jul- Sep	31st Dec 2017
Oct-Dec	15th Feb 2018
Jan- Mar	30th 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:

Period	Dates
Jul- Oct	31st Dec 2017
Nov	10th Jan 2018
Dec	10th Feb 2018
Jan	10th Mar 2018
Feb	10th Apr 2018
Mar	10th 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 14^th/15^th November 2017, to be effective from 00hrs on 15^th 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 Details	Original due date	Revised due date
1	GST ITC-04 for the quarter July-September, 2017	25.10.2017	31.12.2017
2	GSTR-4 for the quarter July-September, 2017	18.10.2017	24.12.2017
3	GSTR-5 for July 2017	20.08.2017 or 7 days from the last date of registration whichever is earlier	11.12.2017
4	GSTR-5A for July 2017	20.08.2017	15.12.2017
5	GSTR-6 for July 2017	13.08.2017	31.12.2017
6	TRAN-1	30.09.2017	31.12.2017 (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.

Top 5 major highlights of 23rd meeting of GST Council

1) Revised dates of Monthly GST Return filing

2) Refund of late Fees charged.