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News Details

21

Jun - 2019

GST Council extends last date for annual returns

The GST Council in its 35th meeting today extended the date for filing annual returns under the Goods and Services Tax (GST) regime by two months to August 30.

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The Council also decided to introduce a new one-form new GST return filing system, which will be applicable from January 1, 2020. Today’s meeting of the Council was its first after the recently concluded general elections. The GST Council, which is headed by the Union Finance Minister Nirmala Sitharaman, also approved an electronic invoicing system and e-ticketing in multiplexes.

The GST Council also eased the registration process by allowing the use of Aadhaar by businesses to register with GST-Network.

In a major move, the Council has decided to use Aadhaar for registration on GSTN. The Council approved a two-year extension of National Anti-profiteering Authority.

The Council also approved penalty for not paying profiteering charges. There will be a penalty of 10 percent if one does not pay the profiteered sum till 30 days of the order.

Here are the other important talking points from today's meeting:

- Council approved the introduction of the new return system

- Council approved the electronic invoicing system

-  E-ticketing for multiplexes made mandatory

- Fitment Committee to take a relook at rate reduction on EVs



 


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