35th GST Council Meeting: Key Highlights

The 35^th GST Council Meeting was held on 21^st June 2019 under the chairmanship of new Finance Minister Smt. Nirmala Sitharaman. The council has recommended the following changes.

• Due to difficulties faced by taxpayers while filing GST annual returns, the due date for filing forms GSTR-9, GSTR- 9A and GSTR-9C is now extended till 31st August 2019. 
  

• The due date to furnish the declaration in FORM GST ITC-04 for the period July 2017 to June 2019 will be extended till 31st August, 2019. 
  

• Due date to avail composition scheme in FORM GST CMP-02 to be extended from 30^th April 2019 to 31^st July 2019. 
  

• The blocking of generating e-way bills due to non-filing of GST returns for two consecutive tax periods will come in effect from 21^st August 2019. 
  

• The new GST return system will be available between July 2019 to September 2019 on trial for taxpayers in FORM GST ANX-1 & FORM GST ANX-2. But taxpayer shall continue to file FORM GSTR-1 and FORM GSTR-3B as at present. 
  

• Filing of FORM GST ANX-1 will be compulsory from October 2019. Large taxpayers whose aggregate turnover is more than Rs. 5 crores in P.Y has to file FORM GST ANX-1 on a monthly basis. Whereas, small taxpayers have to file first FORM GST ANX-1 in January 2020 for the quarter October to December 2019. 
  

• Large taxpayers have to file FORM GSTR-3B on monthly basis for the month of October and November 2019. Then they have to file first FORM GST RET-01 for the month of December 2019 in January 2020. Large and small taxpayers can upload invoices in FORM GST ANX-1 by from October 2019.
  

• Small taxpayers shall stop filing FORM GSTR-3B from October 2019, and has to file FORM GST PMT-08. They will file their first FORM GST-RET-01 for the quarter October to December 2019 in January 2020. 
  

• FORM GSTR-3B shall be completely phased out from January 2020. 
  

• The tenure has been extended by 2 years for National Anti-Profiteering Authority. 
  

• The Council has also decided to introduce an electronic invoicing system for B2B transactions in a phase-wise manner. Phase 1 will roll out from January 2020 which will be voluntary. 
  

• The issue relating to GST concessions on an electric vehicle, charger and hiring of an electric vehicle shall be examined in detail by the Fitment Committee. 
  

• The issue relating to valuation of goods and services in a solar power generating system and wind turbine be placed before the next Fitment Committee as per the order of the Hon’ble High Court of Delhi. 
  

• Group of Ministers has submitted a report to the Council on Lottery. And the GST council recommended that the certain issues relating to taxation on Lottery would require a legal opinion of Learned Attorney General. 
  

The government is planning to ease out the filing of GST returns with the upcoming new structure of GST returns. Moreover, the system of e-invoice will help minimizing tax evasion.