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R.R.JAGADEESAN, GST PRACTITIONER WELCOMES YOU TO "ABHIVIRTHI" WITH LATEST UPDATES ON GST - GOODS AND SERVICES TAX ACT, IGST - INTEGRATED GOODS AND SERVICES TAX ACT, CGST- CENTRAL GOODS AND SERVICES TAX ACT, SGST - STATE GOODS AND SERVICES TAX ACT, UTGST - UNION TERRITORY GOODS AND SERVICES TAX ACT WITH NOTIFICATIONS, CIRCULARS, FORMATS, GST TAX RATES,PRESS RELEASES, HSN CODES AND OTHER INFORMATION FOR BUSINESS SECTOR AND INDUSTRIAL SECTOR AND SERVICE SECTOR, PRIVATE BANKS, PUBLIC SECTOR BANKS, PUBLIC SECTOR UNDERTAKINGS, STAKEH0LDERS, ACADEMICIANS, STUDENTS AND CHARTERED ACCOUNTANTS AND GST PRACTITIONERS WITH COMPLETE GUIDELINES FOR ONLINE REGISTRATION, ONLINE RETURN FILING, ONLINE PAYMENT AND ONLINE GENERATION OF CERTIFICATES IN GST PORTAL (www.gst.gov.in) As per the Notification No. 78/2020 dated 15th Oct 2020, the tax payers, having Aggregate Annual Turn Over (AATO) above Rs 5 Crore, shall use atleast 6 digit HSN code in the e-Invoices and e-Waybills and other tax payers shall use atleast 4 digit HSN code in E-Invoices and E-Way Bills with effect from 1st October, 2023.-----GSTR-2B WILL BE AVAILABLE IN THE AFTERNOON OF 14TH AS ITS GENERATION COMMENCES AFTER END OF DUE DATE OF GSTR-1/IFF FILING ON 13TH TAXPAYERS MUST FURNISH 4 DIGIT HSN CODES AND 6 DIGIT HSN CODES IF THE AGGREGATE TURNOVER IN THE PRECEDING FINANCIAL YEAR IS BELOW RUPEES 5 CRORES AND ABOVE RUPEES 5 CRORES RESPECTIVELY AND 8 DIGIT HSN CODES IF THE GOODS ARE EXPORTED IRRESPECTIVE OF QUANTUM OF TURNOVER THANK YOU VERY MUCH FOR YOUR VISIT AND BOOKMARKING THIS BLOGSPOT FOR FREQUENT VISITS-----SHARE THE ARTICLES WITH YOUR COLLEAGUES AND FRIENDS USING PRINT FRIENDLY OPTION AVAILABLE ON THE RIGHT SIDE-----TO VIEW MORE ARTICLES PLEASE VISIT AGAIN AND AGAIN. ABHIVIRTHI R.R.JAGADEESAN அபிவிருத்தி R.R.ஜெகதீசன் अभिविरथी R.R.जगदीसन
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Sunday, October 29, 2017

Composition Scheme opted taxpayers has to file stock details before 30.11.2017

LAST DATE FOR FILING OF STOCK DETAILS IN 

FORM GST CMP-03 ENTENDED TILL 30.11.2017


The Goods and Services Tax Act, 2017 came into force in India with effect from 1.7.2017.

The aggregate turnover limit has been extended two times after 1.7.2017 and the taxpayers are filing compounding scheme options.

The taxpayers who have opted to pay tax under Compounding Scheme Option has to file the details of stock held on the date preceding the date from which the option to pay tax under section 10 of the Act is exercised in FORM  GST  CMP-03   under the Goods and Services Tax Act, 2017.

The time limit to file FORM GST CMP-03 was extended till 31.10.2017 and the same has been extended till 30.11.2017 by the Central Government.

The relevant Central Government Order is given below for ready reference:


F. No. 349/58/2017-GST Government of India Ministry of Finance Department of Revenue
Central Board of Excise and Customs
***

New Delhi, the  28th October, 2017

Order No. 05/2017-GST

Subject:  Extension of  time  limit  for intimation of  details  of  stock  held  on  the  date preceding the  date  from which  the  option  for composition levy is exercised  in FORM GST CMP-03

In exercise of the powers conferred by sub-rule (4) of rule 3 of the Central Goods and
Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act,
2017 (hereafter referred to as the Act), on the recommendations of the Council, and in supersession of Order  No.  04/2017-GS dated  29t September,   2017,  the  period  for intimation of details of stock held on the date preceding the date from which the option to pay tax under section 10 of the Act is exercised in FORM  GST  CMP-03  is extended till 30th November, 2017.



(Upender Gupta) Commissioner (GST)


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