The 38th GOODS AND SERVICE TAX (GST) Council meeting which was held on 18th December 2019 has been concluded with several major and minor changes in the GST rates and has brought in certain amendment to the GST law and procedure.
Key Highlights:
GSTR 9 and GSTR 9C due date extended till 31st January 2020 for the FY 2017-18.
Setting up Grievance Redressal Committees (GRC) at Zonal/State levels.
Late fee has been waived off if GSTR-1 for tax periods between July 2017 to November 2019 is being filed by 10 January 2020.
Only 10% ITC available if invoice not uploaded by the taxpayer on the portal from the earlier 20%.
Standard Operating Procedure (SOP) released for the benefit of taxman handling GSTR 3B non-compliance cases.
The due date extension for GST returns for some North Eastern States (November 2019) to be extended till 31 Dec 2019.
Click here to read the press release.
