Outcome of the 25th GST Council Meeting held on 18th January, 2018

Outcome of the 25th GST Council Meeting held on 18th January, 2018

January 19, 2018 Fiscal, Industries, states 0

The GST Council has held its 25th meeting in New Delhi on 18th January, 2018. In the meeting GST council has broadly taken the following decisions –

  • The late fee payable by any registered person for failure to furnish FORM GSTR-1 is being reduced to fifty rupees per day and shall be twenty rupees per day for NIL filers.
  • The late fee payable for failure to furnish FORM GSTR-6 (Input Service Distributor) shall be fifty rupees per day.
  • For migrated taxpayers, the last date for filing FORM GST REG-29 for cancellation of registration is being extended by further three months till 31 March, 2018.
  • The facility for generation, modification and cancellation of e-way bills is being provided on trial basis on the portal ewaybill.nic.in. Once fully operational, the e-way bill system will start functioning on the portal ewaybillgst.gov.in.
  • The rate of GST on 29 goods and 53 services has been reduced. Press Release on GST rate changes on goods and services has been attached herewith.

Recommendations made in 25th GST Council Meeting for changes in rates of Goods and Services…. Download Here

Source: Press Information Bureau

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