43rd GST COUNCIL MEETING
AT A GLANCE
1. COVID RELIEF ITEMS :
No IGST shall be charged on certain items
like medical oxygen, oxygen storage, medical . .
. equipment, test kits, vaccines etc. till 31.08.2021.
FM has also constituted
a group of ministers (GOM) who will
decide other COVID related individual items.
Also they have to submit there report by 08.06.2021.
Important Note: Exemption is available only if goods imported free of cost for free distribution.
♦ IGST shall be charged on repair value of goods re – imported after repair.
♦ Services to education institution:
♦ Examination fees charged by national board of examination, similar central & state education board is exempt from GST.
♦ Provision related to land owner promoter :
♦ Supply of service to govt./local authority:
Condition : In this supply portion of goods < 25% of composite supply. If the above condition is not followed then GST is charged @ 5%.
♦ Provision Relating to Guarantee given by Govt. :
Guarantee given by government
to financial institution for providing
financial assistance to Govt. under taking/PSU
Such services supplied by government to
their undertaking and PSU is exempt from GST
♦ 18% GST has been charged on rope way construction services provided to an Government entity.
♦ Measures to trade facilitation relief in late fees:
NOTE : Tax payer can file their previous period return from 01.06.2021 till 31.08.2021.
♦ Late fees u/s 47 :
♦ Provisions related to form GSTR- 1/3B
> GSTR -7 : late fees = 50 rs. per day maximum upto rs. 2000.
♦ COVID -19 Related Relief :
♦ Provisions Related to MAY 2021 Return:
♦ Simplification Related to Annual Return :
Other COVID -19 related Relaxation :
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