35th GST Council Meeting Highlights

The 35th GST Council meeting was the first meeting chaired by the newly-appointed Finance Minister, Ms. Nirmala Sitharaman

The following are the key recommendations made by GST Council:

E-Invoicing:

The council has approved electronic invoicing system in a phase-wise manner for B2B transaction. The Phase 1 is proposed to be voluntary and it shall be rolled out from Jan 2020 once implemented, this invoice will be treated as E-Way bill as well.

Extension of due dates:

For Annual Return GSTR9,GSTR9A,GSTR9C --> 31/08/2019.

For relating to job work ITC04 --> 31/08/2019.

Opting for composition scheme CMP02 --> 31/07/2019.

New Return System:

JUL-2019 :-Trail Phase upload ANX-1,and Download ANX-2

SEP-2019 :-File GSTR1& GSTR3B

OCT-2019 :-ANX-1 Compulsory for large taxpayer(Turnover above 5Crores)

DEC-2019 :-File RET01 for large taxpayers

JAN-20120 :- File RET01 all taxpayers

Blocking of E-Way Bill:

Blocking of the generation of e-way bill in case of non-filing of GST returns for two consecutive periods has been extended till 21st August 2019

Aadhaar Based GST Registration

Amendment in GST registration procedure by adding the Aadhaar card as proof for obtaining GST registration

E-ticketing made compulsory for multiplexes

National Anti-profiteering Authority

Tenure of National Anti-profiteering Authority (NAA) extended for 2 another years still 2021

Penalty for delay in depositing profiteered amount

If Profiteered amount is not deposited as per the order of the authority within 30 days then supplier will have to pay Penalty of 10% on it.

The GST Council has recommended following GST rate related changes on supply of goods and services:

Reduction in GST rates of Electronic Vehicles

• The decision to cut GST rates for electric vehicles and electric chargers have been postponed to the next Council meeting. Decision for reduction of rate on electric vehicle (EV) is given to Fitment committee.

• Current rate on EV is 12% and proposal is to reduce it to 5% And that on chargers for e-vehicles to 12% from 18%

Taxation of the lottery

Group of Ministers (GoM) on Lottery submitted report to the Council. After deliberations on the various issues on rate of lottery, the Council recommended that certain issues relating to taxation (rates and destination principle) would require legal opinion of Learned Attorney General

Solar Power Generating Systems and Wind Turbines

GST Council directed that the issue related to valuation of goods and services in a solar power generating system and wind turbine be placed before next Fitment Committee. The recommendations of the Fitment Committee would be placed before the next GST Council meeting.