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The GST journey

LiveMint logoLiveMint 03-10-2017 Livemint

• 1 July: Prime Minister Narendra Modi and President Pranab Mukherjee launch GST from the Central Hall of Parliament; Modi seeks political unity for more reforms.

Government imposes 10% basic customs duty on imported cellular phones and certain parts to give local producers an edge in GST regime.

First day of GST witnesses blackout in sales of items such as cars and refrigerators. Retailers moderate pre-GST discounts.

CBEC chairperson Vanaja N. Sarna. Photo: Pradeep Gaur/Mint

• 5 July: Central Board of Excise and Customs (CBEC) chairperson Vanaja N. Sarna says in a Mint interview that priority is to handhold businesses and traders into GST, not hounding them for inadvertent lapses.

Consumer affairs minister Ram Vilas Paswan. Photo: Mint

• 7 July: Consumer affairs minister Ram Vilas Paswan clarifies that pasting stickers with revised prices on pre-July stock is not a breach of rules; allows revised MRP stickers till 30 September; revenue secretary Hasmukh Adhia clarifies that consumers need to pay only the taxes specified in invoices that are generated before 1 July even if payment fell due after GST’s rollout.

• 8 July: President Pranab Mukherjee promulgates two ordinances introducing GST in Jammu and Kashmir; government spares airlines from dual levy of GST on leased aircraft.

• 10 July: Government clarifies that benefits to staff by employers as part of employment contract, occasional gifts up to Rs50,000 are not subject to GST.

The ministry of finance in New Delhi. Photo: Pradeep Gaur/Mint.

• 11 July: Finance ministry clarifies that GST is not applicable on free food supplied by religious institutions.

• 15 July: CBEC clarifies that services by lawyers and law firms will continue to be taxed under ‘reverse charge.’

GSTN chairman Navin Kumar. Photo: Ramesh Pathania/Mint

• 24 July: GST Network (GSTN) chairman Navin Kumar says in a Mint interview that registered GST assessees will outnumber taxpayers under the previous tax regime.

Finance minister Arun Jaitley. Photo: PTI

• 1 August: Finance minister Arun Jaitley tells Lok Sabha the tax base will widen significantly on account of GST.

• 5 August: GST Council lowers tax rates on a few services.

• 7 August: Finance ministry says GST Council had recommended raising ceiling of cess on motor vehicles to 25% from 15%.

• 17 August: Government extends deadline for filing returns for July to 28 August in cases where rebate for tax paid in previous regime is claimed.

• 19 August: GST implementation committee extends deadline for filing July returns and to pay taxes from 20-25 August.

• 23 August: Government clarifies on GST rates for ad agencies offering print media space.

• 24 August: GSTN urges businesses to avoid last-minute return filings on 25 August, the extended deadline for filing July returns.

• 25 August: Businesses face difficulties in filing returns for July; seek more time.

• 31 August: Finance minister Arun Jaitley indicates the number of GST slabs could be pruned in future.

• 1 September: Prime Minister Narendra Modi proposes GST registration for small taxpayers. GST Council waives late fee for July tax returns.

President of India Ram Nath Kovind. Photo: Hemant Mishra/Mint

• 3 September: President Ram Nath Kovind promulgates ordinance enabling increase in GST cess on motor vehicles from 15% to 25%.

• 4 September: GST Council extends deadline for filing detailed tax returns for July.

A file photo of Mahindra’s Chakan plant in Pune. Photo: Mint

• 9 September: GST Council raises cess on medium sized-to-large cars and sport utility vehicles in the range of 2-7 percentage points.

• 15 September: CBEC orders verification of large tax credit claims.

Bihar deputy chief minister Sushil Kumar Modi. Photo: Pradeep Gaur/Mint

• 16 September: A panel headed by Bihar’s deputy chief minister Sushil Kumar Modi says that most GSTN glitches will be resolved by October-end.

Photo: Priyanka Parashar/Mint

• 20 September: Government clarifies that retaining actionable claims on deregistered brand names makes packaged food taxable at 5%.

Revenue secretary Hasmukh Adhia. Photo: Pradeep Gaur/Mint

• 22 September: Panel on exports led by revenue secretary Hasmukh Adhia urges officials to clear pending tax refund claims of exporters.

• 26 September: GST receipts for August touch Rs90,669 crore, 3.6% less than July collections.

• 29 September: Consumer affairs ministry lets businesses to sell pre-GST goods till 31 December 2017 with revised price stickers.

6 October: GST Council to meet in New Delhi to review compliance, transition issues.

Goods and services tax completes 100 days on 8 October. Photo: PTi

• 8 October: GST to complete 100 days.

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