Outcome of the 35th GST Council Meeting held on 21st June, 2019
The GST Council held its 35th meeting in New Delhi on 21st June, 2019. In the meeting, GST Council has broadly taken the following decisions –
- Recommendation on GST Rate related changes
- Fitment committee to examine in detail on issues relating to GST concessions on electric vehicle, charger and hiring of electric vehicle.
- Issue related to valuation of goods and services in a solar power generating system and wind turbine to be placed before next fitment committee.
- Issues related to taxation(rates and destined principle) of lottery would require legal opinion of learned Attorney general.
- Recommendation on law and procedural related changes
- For the months of July to September, 2019 the tax payers shall continue to fulfil their compliances by filing the details of their outward supply in FORM GSTR-1 on monthly/quarterly basis and FORM GSTR-3B on monthly basis. However, the new forms i.e. Form GST ANX-1 and FORM GST ANX-2 will be available on trail basis.
- From October, 2019 and onwards, FORM GST ANX -1 will be made compulsory. Large tax payers (having aggregate turnover of more than Rs. 5 Crore in previous year) will file FORM GST ANX-1 on monthly basis whereas small taxpayers to file first FORM GST ANX -1 for the quarter October,2019 to December, 2019 in January ,2020.
- For October and November 2019, large taxpayers would continue to file FORM GSTR-3B on monthly basis and for the month of December,2019 they will file their first FORM GST RET-01 for December,2019 in January, 2020.Invoices can be uploaded by the tax payers from October,2019 and onwards in FORM ANX -1 on a continuous basis while FORM GST ANX-2 can be viewed simultaneously but no action van be taken
- Small tax payers would stop filing GSTR -3B and would start filing FORM GST PMT- 08 from October, 2019 onwards. They will file their first FORM GST RET-01 for the quarter October,2019 to December, 2019 in January, 2020.
- From January, 2020 onwards, all taxpayers shall be filing FORM GST RET-01 and FORM GSTR-3B shall be phased out.
- Deadline to file FORM GSTR-9 ,GSTR-9A & GSTR-9C for financial year 2017-18 has been extended to August 31, 2019 from June 30, 2019.
- Deadline to furnish the declaration in Form GST ITC-04, relating to job work for the period July,2017 to June, 2019 has been extended till August 31, 2019.
- The restriction of generating e-way bills for the taxpayers who have not filed the returns for two consecutive tax periods shall be brought into effect from August 21,2019 instead of earlier notified date of June 21, 2019.
- Deadline for filing of intimation in FORM GST CMP-02 for availing the option of payment of tax under Notification No 2/2019 – central tax rate dated 07.03.2019 to be extended to July 31,2019 from April 30, 2019.
- Recommendation on issues other than law and procedural changes
- Approves location of State and Area Benches for GSTAT (GST Appellate tribunal) for various states and the union territories with legislature. Common state bench for the states of Sikkim , Nagaland, Manipal and Arunachal Pradesh.
- Tenure of National Anti-profiteering Authority (NAA) has been extended by 2 more years.
- Introduction of electronic invoice system in a phase manner for B to B transactions. The phase 1 is proposed to be voluntary and it shall be rolled-out from January 2020.
For more information please refer the attached Press Releases