Ministry of Finance
GST Council’s decisions regarding Law and Procedure related changes
Posted On: 18 DEC 2019
The 38th meeting of the GST Council met under the Chairmanship of the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today. The meeting was also attended by the Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of Ministry of Finance. The GST Council recommended the following:
1. Grievance Redressal Committees (GRC) will be constituted at Zonal/State level with both CGST and SGST officers and including representatives of trade and industry and other GST stakeholders (GST practitioners and GSTN etc.). These committees will address grievances of specific/ general nature of taxpayers at the Zonal/ State level.
2. Due date for annual return in FORM GSTR-9 and reconciliation statement in FORM GSTR-9C for FY 2017-18 to be extended to 31.01.2020.
3. Following measures would be taken to improve filing of FORM GSTR-1:
i. waiver of late fee to be given to all taxpayers in respect of all pending FORM GSTR-1 from July 2017 to November 2019, if the same are filed by 10.01.2020.
ii. E-way Bill for taxpayers who have not filed their FORM GSTR-1 for two tax periods shall be blocked.
4. Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in his FORM GSTR-2A shall be restricted to 10 per cent of the eligible credit available in respect of invoices or debit notes reflected in his FORM GSTR-2A.
5. To check the menace of fake invoices, suitable action to be taken for blocking of fraudulently availed input tax credit in certain situations.
6. A Standard Operating Procedure for tax officers would be issued in respect of action to be taken in cases of non-filing of FORM GSTR 3B returns.
7. Due date of filing GST returns for the month of November, 2019 to be extended in respect of a few North Eastern States.
8. The Council also approved various law amendments which will be introduced in Budget 2020.
[This note presents the decision of the GST Council in simple language for easy understanding which would be given effect through Gazette notifications/ circulars which alone shall have force of law. The same will be made effective from the date as specified in such notifications / circulars.]
Also Read-
38th GST Council’s decisions On Rate Changes
38th GST Council Meeting – Presentation on GST Revenue Trends
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[This note presents the decision of the GST Council in simple language for easy understanding which would be given effect through Gazette notifications/ circulars WHICH ALONE SHALL HAVE FORCE IN LAW . The same WILL BE MADE EFFECTIVE from the date AS SDPECIFIED in such notifications / circulars.]
“Also Read-…….”
Apropos of Related Own Pr. Comment
FONT < Messing up of the GST Regime is, no gainsaying, to be relentlessly pursued ?! CAs, etc., in practice, directly or indirectly (or deemed to be so) – 'HIGH Profiles' down to 'start-ups' (amateurs) to, in the meantime, could only be expected to persist in making their own 'individual ‘contribution to attempt and "ADD VALUE" (+ or – ) to the cess pool of changes in the process of making…(simplistically just for the heck / fancy of IT) ???!!!
courtesy
To stop the menace of 2A input cr and safeguard the interest of the genuine buyers , e invoice must be implemented on war foot basis. Otherwise the 2A cr will be playing a vital role of disaster in case of genuine buyers. Why the authorities are not prepared to implement it .
Fake input tax credit is claimed by fraudsters only, and the amount involved is normally huge. So the Government should find out some other method to have a control over heavy amounts of GST so that the SME sector is not affected and not put to unnecessary harassment of maintaining/following up continuously the ITC in 2A. The SME sector should spend a lot of time reconcilng 2A because of the new rule of restrictions in ITC.
we suggest for abolishimg or minimising gst penalties for thoes whos turnover below 2 crores which is max 10000 per month., because most of the small traders businessman are cannot afford it and cannot filled the returs
1. Heavy penalty must impose on late GSTR-1 filing.
2. GSTR – 1 should be filled monthly for each category.
These above system will help to each & every purchaser in getting their Input Credit.
The present system is thinking only for own benefit through GSTR – 3B but it is not helping to the purchaser.
I think , my suggestion for timely filling of GSTR-1 i.e, monthly within due date will be helpful to each & every business man & the Gov. must be strict by imposing heavy penalty for late filling.
very quick intimation of latest changes in GST
Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in his FORM GSTR-2A shall be restricted to 10 per cent of the eligible credit available in respect of invoices or debit notes reflected in his FORM GSTR-2A.
20% replaced by 10% what a move towards transparency. but how and when the tax payer can get the balanced 90% of unloaded Input credit and when he will claim in next return and what is the logic. April-19 input credit unloaded by party after rectification can in claim in Dec-19 return or not and how to track all the input credits claimed or not its really a mess for a Accountant to keep all records. software for GST return filing do not have any colum.for balance input credit still to be claimed.
Infact input credit form must be there wherein taxpayer declare that as per purchase nov-19 input credit available is RS100000/- as per form 2A is 50000/- only and i am claiming 20% more 10000/- hence 60000/- claimed for the month and still balance 40000/- to be claimed in future returns