Updates on 38th GST Council Meeting | GSTR 9 & 9c Due date extanded | gst annual return filing date

Updates on 38th GST Council meeting and due date extensions...

• The 38th GST council meeting the due date for annual return which is GSTR-9 and reconciliation statement which is GSTR-9C (GST annual return) for FY 2017-18 to be extended to 31 January 2020.

• The second update on the GST council meeting is the tax periods between Jul 17 to Nov 19 the late fee for GSTR-1 will be waived off, if it is filed before 10 January 2020. 

• If the taxpayer does not file for more than two tax periods, then the e-way bills of such taxpayers will be blocked from generation.

• Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in GSTR 2A shall be restricted to 10% of the eligible credit available in GSTR 2A.

• To check the Fraudulent or fake invoices, suitable action to be taken for blocking of fraudulently availed input tax credit in certain circumstances.

• The SOP (Standard Operating Procedure) is to be released for the benefit of taxation officers for actions taken for the non-filing of GSTR-3B.

• On 38th GST council meeting the Due date of GST returns for the month of November 2019 to be extended to some North Eastern States.

• Lastly, on the GST Council meeting, some of the amendments will be introduced in Budget 2020.