PRESS RELEASE OF 37th MEETING OF THE GST COUNCIL HELD ON 20th SEPTEMBER, 2019 AT GOA
Dear all,
Your association SIMA is forwarding herewith a PRESS RELEASE ON GST RATE ON SERVICES AS RECOMMENDED BY THE GST COUNCIL IN ITS 37th MEETING HELD ON 20th SEPTEMBER, 2019 at Goa relating to changes in GST rates, ITC eligibility criteria, exemptions and clarifications on connected issue.
The GST Council, in its 37th meeting held today at Goa, recommended the following:
1. Relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under: a. waiver of the requirement of filing FORM GSTR-9A for Composition Taxpayers for the said tax periods; and b. filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for the said tax periods.
2. A Committee of Officers to be constituted to examine the simplification of Forms for Annual Return and reconciliation statement.
3. Extension of last date for filing of appeals against orders of Appellate Authority before the GST Appellate Tribunal as the Appellate Tribunals are yet not functional.
4. In order to nudge taxpayers to timely file their statement of outward supplies, imposition of restrictions on availment of input tax credit by the recipients in cases where details of outward supplies are not furnished by the suppliers in the statement under section 37 of the CGST Act, 2017.
PLEASE CLICK HERE TO VIEW THE PRESS RELEASE FOR MORE INFORMATION.
This is for your kind information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association,
Narendra Trivedi,
Secretary
