GST News and Updates- Get Latest news and updates about GST
GST News and Updates- Get Latest news and updates about GST
Hey guys check out this post to know what are recent GST updates and latest GST news.
Latest GST News
Meeting held on 22nd February 2019:-
- The 33rd GST council meet was held on 24th February 2019.
- The due date to file GSTR-3B for the month of January 2019 has been extended up to 22nd February 2019*
Meeting held on 10th February 2019:-
The next meeting-33rd GST Council meeting is scheduled to be held on 20th February 2019 via Video Conferencing.It will be chaired by the Finance Minister Arun Jaitley. Real estate and export sector to be in limelight.
This will be the first one after the Interim Budget 2019.
For more detailed information keep visiting The Tax Practitioner
Meeting held on 10th February 2019:-
32nd GST Council meeting was held at New Delhi and chaired by Shri Arun Jaitley. Announcements made was a big relief to MSMEs and small traders.The key takeaways of the 32nd GST Council meeting are as follows:
- Increase in GST registration limit from Rs 20 lakhs up to Rs 40 lakhs for suppliers of goods.
- Changes in the existing composition scheme made by increasing the turnover limit to join the scheme up to Rs 1.5 crores, tax payments to be made quarterly and returns to be filed annually starting 1st April 2019.
- New composition scheme is introduced for service providers and those who supply services along with goods; the Turnover limit set is Rs 50 lakhs and the Tax rate is fixed at 6%.
- No rate cuts were announced this time. GoMs were formed to study taxation of under-construction properties & lotteries.
- Calamity cess up to 1% for up to 2 years will be charged for supplies made within the State of Kerala.
31st GST Council meeting was held on 22nd December 2018; Some rate cuts, Decisions to extend filing of GSTR-9,9A and 9C upto 30th June 2019, New return filing to be made applicable on trial basis from 1st April 2019 and many more were announced.
Meeting held on 8th December 2018
CBIC extends due date for filing GSTR-9, GSTR-9A and GSTR-9C from 31st December 2018 till 31st March 2019 for FY 2017-18.
Meeting held on 8th December 2018
Next 31st GST Council meeting to be held on 22nd December 2018 at Delhi.
Meeting held on 28th November 2018
Due dates for filing GSTR-1, GSTR-3B and GSTR-4 have been extended in those places which were affected by cyclones Titli and Gaza:
| Sl. no. | Return/Form | Extended due date | Taxpayers eligible for extension |
|---|---|---|---|
| 1 | Form GSTR-3B for September 2018 and October 2018 | 30th November 2018 | Taxpayers whose principal place of business is in the district of Srikakulam in Andhra Pradesh |
| 2 | Form GSTR-3B for October 2018 | 20th December 2018 | Taxpayers whose principal place of business is in 11 districts of Tamil Nadu* |
| 3 | Form GSTR-1 for September 2018 and October 2018 | 30th November 2018 | Taxpayers having aggregate turnover more than Rs.1.5 crore and whose principal place of business is in the district of Srikakulam in Andhra Pradesh |
| 4 | Form GSTR-1 for October 2018 | 20th December 2018 | Taxpayers having aggregate turnover more than Rs. 1.5 crore and whose principal place of business is in the 11 districts of Tamil Nadu* |
| 5 | Form GSTR-1 for the quarter July 2018 to September 2018 | 30th November 2018 | Taxpayers having aggregate turnover of up to Rs. 1.5 crore and whose principal place of business is in the district of Srikakulam in Andhra Pradesh |
| 6 | Form GSTR-4 for the quarter July 2018 to September 2018 | 30th November 2018 | Taxpayers registered under Composition scheme, whose principal place of business is in the district of Srikakulam in Andhra Pradesh |
| 7 | Form GSTR-7 for the month of October 2018 | 31st January 2019 | All taxpayers |
To know basics of GST visit my earlier post What is GST?
For more informative postes on GST and income tax keep visiting The Tax Practitioner
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