You are here: Home » Economy & Policy » News » GST
Business Standard

Last date for filing GSTR-1 extended by a month to October 10

GST Council formed a five-member ministerial panel to oversee the technical glitches

IANS  |  New Delhi 

Arun Jaitley, GST Council
Finance Minister Arun Jaitley at the 21st GST Council meet in Hyderabad.

In view of the Goods and Services Tax (GST) filing portal encountering increasing technical glitches, the Council has decided to set up a five-member ministerial panel to oversee its functioning and smoothen the process, Finance Minister Arun Jaitley said on Saturday.

The return filing date deadline of for July, that was to end on Sunday, has also been extended by a month till October 10.

The Council also decided to reduce tax rates on approximately 30 goods and increased the cess on high-end cars.

"Since the work is huge, the Council decided a new schedule itself for filing returns. Because of the load on the system, we want to give adequate time to taxpayers," Jaitley told reporters after the meeting.

"There are transient challenges in technology. The Council decided to appoint a committee, the composition of which will be announced in a day or two. It will consist of ministers who will interact with to ensure a smooth transformation," he said.

The decision was taken after the Council reviewed the functioning of the Network (GSTN) platform. A detailed presentation was given to the members by GSTN officials.

Jaitley said the portal did face technical glitches on two-three occasions due to overload. 

He also said that in consonance with the recommendations of the fitment committee, the tax rates on approximately 30 goods of common man's utility, including raincoats, rubberbands and batter for idli and dosa, have been reduced. 

Khadi fabric through Khadi and Village Industries Commission Act of 1956 (KVIC) stores will now be exempted under  

Talking about the increase in cess rates on automobiles, he said that while status quo has been maintained for small cars (petrol and diesel), hybrid cars and 13-seater vehicles, the Council decided to increase the cess rates for some segments.

cess on mid-segment cars has been increased by 2 per cent, for large segment cars it has been increased by 5 per cent and for SUVs by 7 per cent, he said. 

Key announcements:

Overall collection robust with over 70 pc of eligible taxpayers filing returns of about Rs 95,000 cr

Rate on about 30 items like roasted gram, idli/dosa batter, oilcakes, raincoats, rubber bands reduced

5 pc will have to be paid by firms having registered trademark on May 15, 2017 for commodities

Khadi sold through KVIC stores to be exempted from GST; no additional burden on small cars will be levied by way of additional cess

Small petrol, diesel and hybrid cars to see no cess hike; mid-segment cars to attract 2 pc additional cess, large size cars 5 pc and SUV 7 pc

First Published: Sat, September 09 2017. 18:55 IST
RECOMMENDED FOR YOU