GST News update 3rd week of September 2017

  1. The Central Government on recommendation of the Council vide Notification No. 24/2017- Central Tax (Rate) dated 21th September, 2017 amends the Notification No. 11/2017 Central Tax (Rate) dated 28th June, 2017 to reduce the GST rate on specified supplies of Work Contract Services from 18% to 12%. The said notification specified that services provided to the Central Government, State Government, Union Territory, Local Authority or a Governmental Authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of:
    1. A civil structure or any other original work meant predominantly for use other than for commerce, industry, or any other business or profession.
    2. A structure meant predominantly for use as an educational, a clinical, or an art or cultural establishment.
    3. A residential complex predominantly meant for self-use or the use of their employees or other persons specified in paragraph 3 of the Schedule III of the Central Goods and Services Tax Act, 2017.
  2. CBEC vide Order No. 02/2017-GST dated 18st September, 2017extend the time limit for revision of TRAN-1 till 31st October, 2017 and also vide Order No. 03/2017-GST dated 21st September, 2017 extend the time limit to file FORM GST TRAN 1 till 31st October, 2017.
  3. Taxpayers who have not set-off their tax liability in GSTR 3B for the month of July, 2017 and have only Submit their return but pending for filing, such taxpayers now has a option to edit their GSTR 3B and after making necessary changes can file the return for the month of July, 2017.