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GST Consultants in Chennai - Kanakkupillai

Kanakkupillai is one of the leading GST consultants in Chennai. Over a decade of experience in this field, we have filed GST for many leading companies and startups and they branded us the best GST consultants in Chennai. Contact us to file GST at a nominal cost. <br>

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GST Consultants in Chennai - Kanakkupillai

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  1. Updates & Highlights - 31st GST Council Meeting www.kanakkupillai.com

  2. 31st GST Council meeting  The GST Council met for the 31st time on 22nd December 2018, Saturday at Vigyan Bhavan, New Delhi. It was chaired by the Finance Minister Shri Arun Jaitley. Highlights were Rate tweaks, relief in the form of due date extensions, clarity on GST 2.0 Implementation and streamlining of GST compliance like return filing, registration and refund procedure on the portal.

  3. GST 2.0 to be implemented -trial basis New return filing system to be started on a trial basis from April 1, 2019, and will be implemented by July 1, 2019. E-way bills norms made stern Taxpayers cannot generate e-way bill if they do not file GST returns for two consecutive tax periods.

  4. Announcements on Present GST return filing • Late fee waiver for all the GST returns yet to be filed as on 22nd December 2018 up to 31st March 2019, for the months July 2017 up to September 2018. • Further time to claim the Input tax credit for FY 2017-18 allowed up due date of filing GSTR-3B of March 2019, subject to conditions. • There is going to be single tax ledger for each Tax head. For example- The cash ledgers for each tax heads will be merged into one single cash ledger for all tax head such as IGST, SGST/UTGST CGST and Cess.

  5. Simplification of Form GSTR-9 & GSTR-9C • ITC cannot be availed through FORM GSTR-9 and FORM GSTR-9C. • Verification by a taxpayer who is uploading the reconciliation statement would also be included in FORM GSTR-9C. • All monthly/quarterly GST Returns must be filed before filing Annual returns • If any additional payments are to be made they can be done through the FORM GST DRC-03 in cash.

  6. Due date extensions recommended • The due date for filing of GST Annual Return (GSTR-9) and Reconciliation statement ( GSTR-9C) after GST Audit to be extended till 30th June 2019. • GSTR-8 to be filed by e-commerce operators for the period 1st October 2018 to 31st December 2018 will be extended to 31st January 2019. • Filing of ITC-04 for the months July 2017 to December 2018 to be extended to 31st March 2019.

  7. GST Rates rationalised • No change in tax rate on Cement: 13 items of automobile parts, 8 items of the cement industry still remain under 28 %GST Slab. • Third party insurance lowered to 12 per cent GST Slab from the earlier 18%. • 6 goods and 1 service have been removed from the 28 % GST Slab tax bracket under the Good Services Tax (GST) regime. • GST for cinema tickets being less than Rs 100 has a reduced tax rate from 18% to 12% GST Slab, for tickets equal to or above Rs 100, GST reduced from 28% to 18%.

  8. Lithium-ion batteries charges, video games consoles, small sport related items, accessories for carriages for disabled removed from 28% slab. • Items claimed to be used by the upper segments such as Air conditioners, dishwashers will remain at 28% GST Slab. • Bank charges (savings bank), and Pradhan Mantri Jan Dhan Yojana has been exempted from GST. • GST rate on special flights for pilgrims slashed for the economy to 5 per cent and business class to 12 per cent. These include travel by non-scheduled/chartered operations for religious pilgrimage, which is facilitated by GoI under bilateral agreements.

  9. Miscellaneous • Changes in the filing of Form RFD-01 A: • Documents to be annexed to the form can now be uploaded online. • Types of the GST refund that can be applied in this form shall include Excess tax paid, refund by assessment orders, Tax paid on an intra-State supply which is consequently held to be inter-State supply and vice-versa. • Window to complete GST migration process is opened till 31st January 2019. Such taxpayers have time till 31st March 2019 to file the GST returns in GSTR-1 and GSTR-3B for the period July 2017 till February 2019.

  10. Most Expected – 31st GST Council Meeting • Deliberations on announcing GST rates on Petrol and Diesel. • GST Rate cut highly likely for Housing sector with two proposals before the Council:1. To slash GST rate from the existing 12% to 8%, in order to bring it at par with the affordable housing with ITC claim option2. To slash the GST rate to 5% without the ITC claim option • Decision to be taken on the reports submitted by the sub-committees formed for analysing GST on Sugar and Cess in case of exigencies.

  11. GST Registration Online in Chennai • We knew the difficulties of GST Filling in Chennai but the expertise accountants at Kanakkupillai does it in an easy way and also at the shortest span. Ask any successful businessman about GST filing in Chennai, they would always whisper the single brand, Kanakkupillai. The city’s leading Best  GST Registration services are provided by Kanakkupillai at an affordable cost. To contact call us at 7305345345 and get free consulting.

  12. Contact Us – Kanakkupillai.com CHENNAI OFFICE No 13/22 2nd floor, Yatra, TNGO Colony, West Karikalan street, Adambakkam, Chennai – 88 Phone: 7305 345 345 Email: support@kanakkupillai.com https://www.kanakkupillai.com/

  13. Thank You

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