Recommendations made during 31stMeeting of the GST Council

Dec 26, 2018 | by Avantis RegTech Legal Research Team

The GST Council in its 31st meeting held on December 22, 2018 made the policy recommendations.

Some of the major policy recommendations are as under:

·         The new return filing system shall be introduced on a trial basis from April 01, 2019 and on mandatory basis from July 01, 2019.

·         The due date for furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial Year 2017 – 2018 shall be further extended till June 30, 2019.

·         Certain clarificatory changes, inter-alia, shall be carried out in the formats/instructions according to which the annual return / reconciliation statement has to be submitted by the taxpayers.

·         The due date for furnishing FORM GSTR-8 by e-commerce operators for the months of October, November and December, 2018 shall be extended till 31.01.2019.

·         The due date for submitting FORM GST ITC-04 for the period July 2017 to December 2018 shall be extended till March 31, 2019.

·         ITC in relation to invoices issued by the supplier during FY 2017-18 may be availed by the recipient till the due date for furnishing of FORM GSTR-3B for the month of March, 2019, subject to specified conditions.

·         All the supporting documents/invoices in relation to a claim for refund in FORM GST RFD-01Ashall be uploaded electronically on the common portal at the time of filing of the refund application itself. Certain type of refunds shall also be made available through FORM GST RFD- 01A.

·         The due date for the taxpayers who did not file the complete FORM GST REG-26 but received only a Provisional ID (PID) till December 31, 2017 for furnishing the requisite details to the jurisdictional nodal officer shall be extended till January 31, 2019. Also, the due date for furnishing FORM GSTR-3B and FORM GSTR-1 for the period July, 2017 to February, 2019/quarters July, 2017 to December, 2018 by such taxpayers shall be extended till March 31, 2019.

·         Late fee shall be completely waived for all taxpayers in case FORM GSTR-1, FORM GSTR-3B & FORM GSTR-4 for the months / quarters July, 2017 to September, 2018, are furnished after December 22, 2018 but on or before March 31, 2019.

·         Changes made by CGST (Amendment) Act, 2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 and the corresponding changes in SGST Acts would be notified with effect from February 01, 2019.

·         The requisite Notifications/Circulars for implementing the above recommendations of the GST Council shall be issued shortly.



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