Businesses with a turnover of less than Rs 40 lakh per annum and salaried individuals are not required to pay the GST on rent under the new rules
The government has ruled out any further extension for filing supply returns for the goods and services tax for the month of July, deadline of which will end tomorrow.Generally, supply returns -- GSTR1-- should be filed by 10th of the next month, but the GST Council had given relief in deadlines for the month of July. The deadline for July was extended till September 5, which was against stretched till September 10 after many assessees complained of system problems in GSTNetwork. After GSTN again faced glitches, the deadline was extended till October 10. "No further extension will be given to taxpayers for filing their GSTR 1 return for July 2017 for which the last date is October 10," the ministry of finance said in a statement here. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately, the ministry said.Once a taxpayer files GSTR-1 by October 10, the corresponding entries in GSTR-2A of his buyer shall get auto populated. The buyer shall finalize ...
Changes to GST rules announced on Friday are welcome, but the question that arises is why the measures were taken only after industry suffered pain due to procedural hurdles for over three months