Annual Return Date Extended
The Council additionally adopted a two-year expansion of National Anti-profiteering Authority.
Sitharaman, who won over as Finance Minister last month, led over the 35th meeting of the GST Council. Leading over the initial GST Council meeting, the deadline to register annual return via a month to August 30. This has been done by the Finance Minister Nirmala Sitharaman-led GST Council on June 21st.
Every state except Mizoram, Karnataka and Telangana were represented in the meeting. In an important move, the Council has chosen to use Aadhaar for registration on GSTN. The Council passed a two-year expansion of National Anti-profiteering Authority.
“Newly single return form for all to work out in January 2020,” Said by revenue Secretary Ajay Bhushan Pandey.
The Council also authorised penalty for not paying beneficial charges. There will be a fine of 10% if one does not give the beneficial amount within the 30 days of the order.
Explore the essential points from Today’s meeting :
- Council permits initiation of the new return system.
- Electronic invoicing system is approved by the council.
- The E-ticketing for multiplexes has to be executed as compulsory.
- To have a relook at rate decrease on EVs by the Fitment Committee