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GST 35th Council Meeting Update

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GST 35th Council Meeting update

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

Highlights of 35th GST Council Meeting:

  • GST annual return due date extended till 31st 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 30th june.
  • To make ease in GST registration process Aadhar enabled GST registration is introduces, in which Aadhaar number shall be linked to the GSTIN while generation
  • National Anti-profiteering Authority (NAA) tenure extended by two year: The due date to end this NAA was by 30th 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 penalty of 10%: GST Council has approved a levy of 10% penalty for delay in depositing the profiteered amount by more than 30 days.
  • By January 2020 facility 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-tickting: 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.

Other Due Date

New Due Date

-ITC-04, for July 2017-June 2019                                  

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- CMP-02 for opting into the composition                             scheme for service providers under Notification 2/2019-CT rate

  

 

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  • E-way bills to be block for non filing of GST returns: The law stated that where the GST returns in GSTR-3B/ GSTR-4 is 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.

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Author
Sanya Arora
Highly motivated and innovative Environment MS graduate, highly effective at developing creative content and writing persuasive legal briefs. Expertise in writing E-waste, recycling, EPR, legal compliances articles, blogs, press releases and whitepapers etc. Excellent command over English Language with natural flair for writing. Excellent analytical skills and structured thinking capability.