GST 35^th Council Meeting Update

The 35^th council meeting was held on 21^st June 2019 at Delhi, this was the first meeting of Mrs Nirmala Sitharaman chaired by the re-elected government and India’s second woman Union Finance Minister.

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Highlights of the 35^th GST Council Meeting:

• GST annual return due date extended till 31^st August FY 2017-18: The due date for filing GST return through GSTR-9, GSTR-9A, and GSTR-9C for the FY 2017-18 has been extended till 31 August 2019, earlier it was till 30^th June.
• To make ease in GST registration process Aadhar enabled GST Registration is introduced, in which the Aadhaar number shall be linked to the GSTIN while the generation
• National Anti-profiteering Authority (NAA) tenure extended by two years: The due date to end this NAA was by 30^th November 2019, but now it has been extended by 2 years, now the due date is in 2021.
• Delay in depositing profiteered amount will lead to a penalty of 10%: GST Council has approved a levy of a 10% penalty for delay in depositing the profiteered amount by more than 30 days.
• By January 2020 facilitate ate of E-invoicing will start: The new system for raising all the tax invoices on the GST portal has received in-principle approval for implementation from 1 January 2020. This applies to only B2B invoicing. By this system, no separate e-way bill will be required in case of e-invoice. Returns to be framed from these e-invoices. A phased implementation is being worked out. Earlier, the government had fixed Rs 50 crore as the limit for the applicability of e-invoicing.
• Multiplexes are made mandatory for E-ticketing: council approved the electronic ticketing system, for multiplexes, having multi-screens.
• GSTAT to be GST Appellate Tribunal: Council stated the Goods and Service Tax Appellate Tribunal will be the appellate authority and will adjudicate on appeals arising from central and state tax authorities’ in-house dispute resolution system.

• E-way bills to be blocked for non-filing of GST returns: The law stated that where the GST returns in GSTR-3B/ GSTR-4 are not filed for two consecutive tax periods, e-way bill generation for such taxpayers would be disabled. It will be effective from 21 August 2019, instead of the earlier notified date of 21st June 2019.