37th GST Council Meeting – Key Highlights

Date: 20th September, 2019

1. Policy Changes

New Return Filing System

New Return filing to be introduced from April 2020 (Earlier proposed from Oct, 19)

Annual Returns and GST Audits

1) GST Annual Returns GSTR-9 & 9A Optional for those with turnover upto 2 Cr for FY 17-18 & 18-19.

2) Those with turnover above 2 Cr to still file GSTR-9.

3) No relief in case of GSTR-9C – GST Audit Form.

4) GSTR-9 & 9C to be made “Saral”.

Circulars (Old/New) to be issued on following matters

1) Refund RFD – 01A,

2) Supply of ITeS

3) Rescinding circulars wrt Post-Sales Discounts

2. Reduction in Rates and Rationalisation of various measures

Hospitality and Tourism Industry:

1) Tariffs 7500 & above – GST 18%,

2) Tariffs between 1,000-7500 – GST 12%,

3) Tariffs below 1000 – Nil,

4) Outside Catering – GST 5% without ITC (Reduce from 18%),

Job Work Sector

1) Diamond Job work – GST 1.5% (Reduce From 5% ),

2) Other Job-work – GST 12% (Reduce from 18%).

Warehousing

Exempted Storage & warehousing services wrt certain agricultural products 

Transportation

Export freight exemption further extended till 30th September, 2020

Insurance Sector

Exemption given to BSB Crop insurance of WB state & Life insurance services by Central Armed Paramilitary Forces 

Export Promotion

1) Exemption given to intermediary services where both supplier and recipient is outside India,

2) Place of supply for specified R&D Services and supply of chip design R&D Services shall be th to the location of service recipient

Miscellaneous measures

1) Option to authors to pay GST under forward charge,

2) Exemption given to Grant of liquor license by state govt, Services in relation to FIFA World Cup,

3) Securities lending services and Renting of Motor Vehicles under RCM,

4) Clarification would be issued in the case of UDF/ PSF, exploration and mining services

5) Council amended rules regarding Refund by Appellate Authority, GSTPs & Consumer Welfare Fund, Aadhaar based Registration and refunds

6) Putting restrictions on ITC – In case where supplier has not filed GST returns and Putting restrictions on passing of ITC by risky taxpayers

7) Amendments in All GST acts for J&K, Ladakh.

Also Read Press Releases by Ministry of Finance on decisions taken in 37th GST Council Meeting

Changes in GST Rate on Goods | 37th GST Council Meeting

Changes in GST Rate on Services | 37th GST Council Meeting

Changes in GST Law and Return Filing including Annual Returns

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7 Comments

  1. ASHOK KANUNGA says:

    Annual Returns and GST Audits

    1) GST Annual Returns GSTR-9 & 9A Optional for those with turnover upto 2 Cr for FY 17-18 & 18-19.

    2) Those with turnover above 2 Cr to still file GSTR-9. ——-FOR ALL DEALER OR ONLY MSME

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