Last date for payment of GST and filing of return for july 2017 extended by 5 days
The last date for payment of taxes and filing of GST Return in Form 3B for the month of July is 20th of August 2017. Since it is the first Return to be filed under GST, the tax payers and the tax practitioners have requested for few more days to file their Return. Also there have been requests from States which are hit with floods to extend the last date for filing of GST Returns. The State of Jammu & Kashmir has also requested for extension of time because of lat4e passing of their GST Ordinance. Some technical glitches are also experienced by last minute return filers.
In order to take care of these issues, the GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017. For those tax payers, who do not want to avail of transitional credit in TRANS1 this month, the date for return filing will be 25th August 2017. And for those who want to fill up Trans1 this month, the last date for filing of returns will be 28th August 2017, as announced earlier. In order not to face any last moment technological difficulty in submission of return, all tax payers are requested to kindly file their return well before 25th /28th of August 2017 and not wait for the last date. Suitable notification is being issued shortly.
RATE OF TAX UNDER GST ON EXPENSES DEBITED TO TRADING, PROFIT & LOSS ACCOUNT
| Nature of Expense | Rate of Tax | Whether regd | Reverse Charge (If | Whether Eligible for |
| supplier will levy tax | supply is unregd supplier) | Input Credit | ||
| Salary, Wages and Bonus paid to employee | 0% | No | No | No |
| Electricity Bill | 0% | No | No | No |
| Water Charges/Plain Water | 0% | No | No | No |
| Bank Interest | 0% | No | No | No |
| Rent Deposits | 0% | No | No | No |
| Other Deposits | 0% | No | No | No |
| Petrol/Diesel/CNG/Kerosene Expenses | 0% | No | No | No |
| Liquor Expenses | 0% | No | No | No |
| Registration Fees (ROF/ROC etc.) | 0% | No | No | No |
| Bad Debts | 0% | No | No | No |
| Donation | 0% | No | No | No |
| Labour Welfare Contribution to Government | 0% | No | No | No |
| Fine & Penalties | 0% | No | No | No |
| Conveyance Expenses – Non AC Taxi, Auto, Bus, Train | 0% | No | No | No |
| Rent paid for residential use | 0% | No | No | No |
| Newspapers & Magazines | 0% | No | No | No |
| Remuneration to Directors and Others | 0% | No | No | No |
| Conveyance Expenses – Radio Taxi like Ola, Uber or other AC Vehicles | 5% | Yes | Yes | Yes |
| Payment to Goods Transport Agency | 5% | No | Yes | Yes |
| Travelling in Train by AC or First Class | 5% | Yes | Yes | No |
| Job Work/Labour Charges for textile yearn and textile fabrics | 5% | Yes | Yes | Yes |
| Job Work/Labour Charges for diamond, jewellery and precious metal | 5% | Yes | Yes | Yes |
| Job Work/Labour Charges for printing of books, journals and periodicals | 5% | Yes | Yes | Yes |
| Food & Beverage Expenses (Non AC Restaurant) | 12% | Yes | Yes | No |
| Room Rent in a hotel/lodge (Rs. 1,000 to Rs, 2,500) | 12% | Yes | Yes | Yes |
| Fuel (Furnace Oil/LPG) | 18% | Yes | Yes | Yes |
| Sales Promotion/Business Promotion | 18% | Yes | Yes | Yes |
| Food & Beverage Expenses (AC Restaurent) | 18% | Yes | Yes | No |
| Mineral Water | 18% | Yes | Yes | Yes |
| Truck/Tempo Hire Charges | 18% | Yes | Yes | Yes |
| Club & Membership Fee | 18% | Yes | Yes | No |
| Advertisement Charges/Hoarding/Magazine/News Papers/Media | 18% | Yes | Yes | Yes |
| AMC Charges | 18% | Yes | Yes | Yes |
| Bank Charges – Service Charges recovered | 18% | Yes | No | Yes |
| Broker Fee & Charges | 18% | Yes | Yes | Yes |
| Cancellation Charges | 18% | Yes | Yes | Yes |
| Extended Warranty | 18% | Yes | Yes | Yes |
| House Keeping Charges | 18% | Yes | Yes | Yes |
| Insurance of goods and vehicles | 18% | Yes | Yes | Yes |
| Health Insurance | 18% | Yes | No | No |
| Payment to Advocates | 18% | No | Yes | Yes |
| Loading & Unloading | 18% | Yes | Yes | Yes |
| Training Expenses | 18% | Yes | Yes | Yes |
| Payment to Post Office for Speed Post/Parcel | 18% | No | Yes | Yes |
| Postage & Courier Charges | 18% | Yes | Yes | Yes |
| Printing & Stationery (Flex Printing, Board Printing, Notice Printing) | 18% | Yes | Yes | Yes |
| Recruitment Expenses | 18% | Yes | Yes | Yes |
| Commission Paid | 18% | Yes | Yes | Yes |
| Rent paid for commercial use of premises | 18% | Yes | Yes | Yes |
| Rent for godown for commercial purpose | 18% | Yes | Yes | Yes |
| Repairs & Maintenance – Building/Electrical/P&M/ Others | 18% | Yes | Yes | Note 1 |
| Room rent in a hotel/lodge (Rs. 2,500 to Rs, 7,500) | 18% | Yes | Yes | Yes |
| Payment for Sponsorship services | 18% | Yes | Yes | No |
| Security Charges | 18% | Yes | Yes | Yes |
| Telephone, Mobile & Internet Charges | 18% | Yes | No | Note 2 |
| Sundry Expenses | 18% | Yes | Yes | Yes |
| Job Work/labour charges for garment processing | 18% | Yes | Yes | Yes |
| Job Work/labour charges – Others | 18% | Yes | Yes | Yes |
| Sitting Fee, Commission or any other payment made to directors by the company | 18% | Yes | Yes | Yes |
| Audit Fee, Account Writing, Processional Fee (Other than Advocates) | 18% | Yes | Yes | Yes |
| Research & Development Expenses | 18% | Yes | Yes | Yes |
| Food & Beverage Expenses (AC Restaurant) | 28% | Yes | Yes | No |
| Wall Paint | 28% | Yes | Yes | No |
| Room rent in a hotel/lodge above Rs. 7,500 | 28% | Yes | Yes | Yes |
| Travelling Expenses – International | 28% | Yes | Yes | No |
| Amusement Park/Theatre Ticket | 28% | Yes | Yes | Yes |
| Cold Drinks | 40% | Yes | Yes | No |
| Repairs & Maintenance Charges if it has not resulted into immovable property | 18%/28% | Yes | Yes | Yes |
| Electric Fittings | 18%/28% | Yes | Yes | No |
| Staff Uniform Expenses | 5%/12% | Yes | Yes | Yes |
| Packing Material and Packing Charges | 5%/12%/18 % | Yes | Yes | Yes |
| Plant & Machinery/ Furniture & Fixture | Actual Rate | Yes | Yes | Note 3 |
| Building/ Motor Car | Actual Rate | Yes | Yes | No |
| Office Equipment including Computer, Software & Hardware | Actual Rate | Yes | Yes | Note 3 |
| Free Gifts to Staff (Exempt upto Rs. 50,000 p.a.) | Actual Rate | Yes | Yes | No |
| Free Gifts to Staff (Above Rs. 50,000 p.a.) | Applicable Rate | Yes | Yes | Yes |
| Diwali/New Year Gifts purchased | Applicable Rate | Yes | Yes | Yes |
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