Outcome of the 26th GST Council Meeting held on 10th March, 2018

Outcome of the 26th GST Council Meeting held on 10th March, 2018

March 12, 2018 Fiscal, Industries, states 0

The GST Council has held its 26th meeting in New Delhi on 10th March, 2018. In the meeting, GST council has broadly taken the following decisions –

  1. The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return filing system is finalized.
  2. The liability to pay tax on reverse charge basis for supply made by unregistered suppliers has been deferred till 30.06.2018.
  3. The provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act shall remain suspended till 30.06.2018.
  4. GST implementation Committee (GIC) shall redress the grievances caused to the taxpayers arising out of technical glitches.
  5. E-way bill for inter-State movement of goods across the country to be rolled out from 01 April 2018. For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 01 June, 2018.
  6. Exporters presently availing various export promotion schemes can continue to avail such exemptions on their imports upto 01.10.2018
  7. Council has deferred the implementation of the e-Wallet scheme by 6 months i.e., upto 01.10.2018

Source: Press Information Bureau

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