38th GST Council Meeting Decisions Held on 18th December 2019

Article explains Extension in Due Date of GST Returns , Decisions regarding restriction on availment of Provisional ITC in GSTR-3B, Late fee waiver on GSTR-1, Formation of Grievance Redressal Committees (GRC) and GST Rate revision as per 38th GST Council Meeting Decisions Held on 18th December 2019.

1. Extension in Due Date of GST Returns

• GSTR-9 and GSTR-9C for FY 2017-18 – extended till 31st January 2020
• GST Returns for some North Eastern States for the month November 2019 – extended till 31^st December 2019

2. Decisions regarding restriction on availment of Provisional ITC in GSTR-3B

• The amount of ITC availed on a provisional basis has been restricted to 10% (earlier it was 20%), where invoices or debit notes are not reflected in GSTR-2A.

3. Late fee waiver on GSTR-1

• 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.
• If the taxpayer does not still file for more than two consecutive tax periods, then generation of E-way bills will be blocked.

4. Formation of Grievance Redressal Committees (GRC)

• 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.

5. GST Rate Revision

Source-https://icmai.in/

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