Home / Knowledge / News / Textiles / GST Council extends return filing system for 3 months
GST Council extends return filing system for 3 months
12
Mar '18
Finance minister Arun Jaitley chairing the 26th GST Council meeting in New Delhi on March 10. Courtesy: Ministry of finance
Finance minister Arun Jaitley chairing the 26th GST Council meeting in New Delhi on March 10. Courtesy: Ministry of finance
At its 26th meeting, the Goods and Services Tax (GST) Council has extended the present system of filing of GSTR 3B and GSTR 1 for another three months i.e., April to June 2018 till the new return system is finalised. “A new model was discussed extensively, and Group of Ministers on IT has been tasked to finalise the same,” an official statement said.

The Council has also deferred the liability to pay tax on reverse charge basis till June 30, 2018. “In the meantime, a Group of Ministers will look into the modalities of its implementation to ensure that no inconvenience is caused to the trade and industry,” the statement said.

The Council has also recommended suspension of the provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act till June 30, 2018. “In the meantime, the modalities of linking State and Central Governments accounting system with GSTN will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source,” the release said.

Further, a GST Implementation Committee (GIC) has been tasked with the work of redressing the grievances caused to the taxpayers arising out of IT glitches.

The electronic way or e-way bill for movement of goods from one state to another (inter-state) will be implemented from April 1, 2018. For intra-state movement, the e-way bill would be rolled out in a phased manner beginning April 15. States would be divided into 4 lots for this phased rollout which would cover all the states by June 1. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

SABIC signs MoU with PRC province for petrochem complex

Textiles | On 26th Sep 2018

SABIC signs MoU with PRC province for petrochem complex

The Saudi Basic Industries Corporation (SABIC) recently announced the ...

New Pakistani federation to fight for workers' rights

Textiles | On 26th Sep 2018

New Pakistani federation to fight for workers' rights

The various unions in Pakistan’s textile and garment industry...

Courtesy: Pexels

Textiles | On 26th Sep 2018

Fitch raises growth forecast for India to 7.8% in 2018-19

Rating agency Fitch last week raised India’s growth forecast for...

Interviews View All

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search