Giving a slight shift to the return filing schedule of GST returns, government has recently modified the due date for filling GST returns for businesses having turnover below 1.5 Crore to the 11^th of succeeding month of the return filing period/month which was earlier stipulated to 10^th of the succeeding month.

Guiding the change with a notification, government stated the new return filing due dates and made all the required changes to the GST portal. CBIC defined that stipulated details of outward supply of business of the filling period between July 2018 to March 2019 has to be filed by  11^th of succeeding month. For businesses with turnover over Rs 15 million and those who are subject to file their return quarterly will now have to file their quarterly returns by the last date of the subsequent month.

The new GST filling due dates are as under :-

GST Council 29^th Meet – Highlights and Proposals

In a round of making above amendments, some other major important decisions also became the part of the last GST Council which was held on 4^th August 2018.

Below we have listed out some key highlights of all such proposed amendments in the present GST law:-

– Effective incentives to be offered in GST return payments through digital modes of   transactions.

– Several issues were raised related to the issues of MSMEs. It gave importance to following suggestions like:-

– To consider a 20 lakh exemption for inter states supplies .

– To increase the exemption limit of E-Way billing from Rs 50,000 to 1 lakh or even exempting some movements within state.

– To bring agro products under lower slab rate section.

– To speed up GST refunds process which is at present causing blockage of working capital .

– To fastly close pending issues of VAT regime and still pending closure.

Also Read : GST slabs may be pared to 3; Rates could be 5%,15% and 25%: Sanjeev Sanyal