On 18th December 2019, the 38th GST council meeting is held in which the following recommendations and decisions are being taken by the GST council meeting which are as follows:-
1. Extension of GSTR 9 and GSTR 9C for FY 2017-18 has been extended from 31-12-2019 to 31-01-2020.
2. Waiver for late filing fee for GSTR 1 for the period from July 2017 to November 2019 for the returns filed upto 10-01-2020.
3. Blocking of E-way bill facility if the GSTR 1 has not been filed for 2 consecutive tax periods.
4. Reducing the rate of ITC to be taken in case of non-reflection of invoices or debit notes in GSTR 2A from 20% to 10%.
5. Due date of GSTR 3B for the North-eastern states for the month of November 2019 to be extended.
6. Exemption of upfront amount payable for long term lease of industrial / financial infrastructure plots by an entity having 20% or more ownership of Central or State government with effect from 1st January 2020.
7. With effect from 1st March 2020, 28% GST on both state and central run authorized lottery.
8. Increase of GST from 12% to 18% for woven and non-woven bags and sacks of polyethylene strips or like, whether or not laminated, of a kind used for packing of goods (HSN 3923 / 6305) with effect from 1st January 2020.
You must be logged in to post a comment.