Here are the top recommendations made by the GST council in its 39th Meeting under the chairmanship of Smt Nirmala Sitharaman.
1. GST rate on mobile is raised from 12% to 18%
2. Interest on GST to be payable only on the cash liability i.e net tax liability instead of gross liability. This will be applicable form July 2017.
3. GST Annual return and Reconciliation statement due date is extended for FY 2018 -19 from 31st march 2020 to 30th June 2020.
4. No late filing fees for turnover below Rs. 2crore. This is applicable for FY 2017-18 and 2018-19 only.
5. E invoicing is extended till 01.10.2020
6. GSTR 1 and GSTR 3B is further extended till 30th September 2020 as per the existing style of filing.
However, this is not the exhaustive list of recommendations of the 396th GST council. One can find the more details of the list at https://gstindianews.info (GST India news). It is a live blog on GST news and updates.
From India, Pune
1. GST rate on mobile is raised from 12% to 18%
2. Interest on GST to be payable only on the cash liability i.e net tax liability instead of gross liability. This will be applicable form July 2017.
3. GST Annual return and Reconciliation statement due date is extended for FY 2018 -19 from 31st march 2020 to 30th June 2020.
4. No late filing fees for turnover below Rs. 2crore. This is applicable for FY 2017-18 and 2018-19 only.
5. E invoicing is extended till 01.10.2020
6. GSTR 1 and GSTR 3B is further extended till 30th September 2020 as per the existing style of filing.
However, this is not the exhaustive list of recommendations of the 396th GST council. One can find the more details of the list at https://gstindianews.info (GST India news). It is a live blog on GST news and updates.
From India, Pune
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