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GST News Highlights 18th Oct 2018

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GST: FinMin may not extend deadline to claim input tax credit for 2017-18
The Finance Ministry is unlikely to accept the request made by industry bodies and CA association to extend the due date for claiming input tax credit for the period July 2017-March 2018.
Return for the month of September has to be filed by October 20 while last date for filing annual return (for financial year 2017-18) is December 31.

Composition scheme biz need not file purchase details while filing GST quarterly returns
Businesses opting for composition scheme under GST need not file details of purchases made from their vendors at the time of filing quarterly return GSTR-4

Dealers in Bengaluru reverse Rs 17 cr claims made on fake GST invoices
Sections of dealers in Bengaluru have reversed their input tax credit (ITC) claims worth Rs 17.45 crore after realising that they made their claims based on fake GST invoices, Karnataka Commercial Taxes Commissioner M.S.Srikar said.

Source: Law Crux Gst Update

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