India to allow late filing in first two months of GST - Jaitley

However, the invoice-wise details in regular GSTR 1 would have to be filed for the month of July and August as per the timelines given below: For July Month: GSTR 3B (20th August), GSTR - 1 (1st 5th September*), GSTR 2 (auto populated from GSTR-1) (6th 10th September).

Companies will have to file sale invoice for August with the GST Network by 20 September instead of 10 September earlier.

Industry chamber Assocham today demanded postponing GST implementation, saying that taxpayers will find it hard to comply with the provisions of the new indirect tax regime as the IT network is not yet ready. The Council also decided that the 28% tax rate will apply to AC hotels with tariffs above Rs 7,500. He further announced that the official launch of GST shall take place at midnight on June 30.

Hailing the Council's decision to give initial two months' relaxation in filing of returns, the Confederation of All India Traders said that the move will give ample time for businesses to prepare their IT systems and comply with the new indirect tax regime.

The next meet of the Council will be held on June 30.

The registration, which closed on June 15, will reopen on June 25 and process has been going on "satisfactorily". "We don't have the luxury of time to defer GST implementation", Jaitley made it clear.

"Businesses should not rush for migration".

The GST Council on Sunday also decided on a two-slab structure for taxing lottery tickets, which Jaitley said proved to be a contentious issue. However, Uttarakhand will have it at Rs 75 lakh.

"Even in the All Party Meeting, the State Government failed to come up with its proposal to deal with this issue and had no answers to provide".

"If GST regime is implemented in its present form via Constitutional Amendment 101 of the Constitution of India, the state will then like all other states, which is an enormous constitutional and political dis-empowerment of the State", he said. "Such deliberate irresponsibility is a ploy to extend the GST regime to the State in a hush-hush manner", Nasir Aslam Wani said in his address.

"Barring Uttarakhand and Jammu and Kashmir, it was chose to make the composition limit at Rs 50 lakh for the other north-eastern states and hill state of Himachal Pradesh", Jaitley said.