GST MINUTES OF THE 31st GST Council Meeting

31st GST Council Meeting

Important Changes (Other than Refunds & Returns)

1)FY 2017-18 Credit can be availed up to 31-03-19:

Time Limit to avail credit on Invoices issued during the FY 2017-18 would be the due date for furnishing GSTR 3B for the month of March 2019 and not 20th October 2018

2)GSTR 9,9A,9C – Due Date : 30.06.2019
The due date for furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial Year 2017 – 2018 shall be further extended till 30.06.2019.

3)Form ITC – 04 (Jul17 – Dec18) – Due Date : 31.03.2019

The due date for submitting FORM GST ITC-04 for the period July 2017 to December 2018 shall be extended till 31.03.2019.

4)Waiver of Late fee

  • for GSTR 3B/1/4 of July 2017 to September 2018 filed before 31st March

5)Effective Date Notified :
Changes made by the CGST / IGST / UTGST (Amendment) Act, 2018, and GST (Compensation to States) Amendment Act, 2018 and the corresponding changes in SGST Acts would be notified w.e.f. 01.02.2019. – Refer to out tax alert dt. 29-08-2018

1) Single Cash ledger system to be implemented :
For Example, Tax paid under the head CGST can be adjusted under the head CGST / SGST / IGST.

2) Time Limit for filing GSTR – 8 for the months of October, November & December extended to 31.03.19

3) Creation of Centralized Appellate Authority for Advance Ruling

4) Payment of interest on Net Cash Liability

Other Changes
1) Tax payers who have not filed returns for two consecutive months cannot generate E Waybill.

1)System of Single Authority for disbursement of Refunds to be set up – No need to liaise with two departments.

2)All the supporting documents for GST Refund claim can be uploaded electronically – No need to physically interface with the department.

3)Other pending types of refund applications shall also be made available

If the documents pertaining to the refund claims filed on the common portal are not submitted within 15 days of notice from the department, the refund claims would be rejected and the credit amount would be re-credited.

The new return filing system shall be introduced on a trial basis from 01-04- 19 and on mandatory basis from 01-07-19.

Changes in GSTR 9, 9A & 9C

Changes Recommended
Earlier Scenario
DAA Comments
Form GSTR 9 & 9A to cover all the supplies made during the year
Earlier Form GSTR 9 & 9A covered only the supplies disclosed in the returns filed during the year.

Outward supplies should capture all supplies even if not declared earlier in the return
HSN code may be declared for the inward supplies amounting to 10% or more of Total value of Inward supplies.

HSN wise summary of all Inward supplies was mandatorily to be disclosed in Form GSTR-9

Assessees need not provide HSN wise summary for all inward supplies. Reduces a significant burden on the industry.
Additional tax payments arising due to audit findings, can only be paid in Cash through Form GST DRC-03.

It was understood that the payments must be made through GSTR 3B.

 Payment for any additional tax liability shall be made through Form GST DRC – 03

 Failure to avail Input tax credits within the time limit, cannot be done through Form GSTR-9 & GSTR-9C

Credit cannot be availed through GSTR 9 & GSTR 9C
Credit can be availed only through GSTR 3B filed till the month of March 2019.
Invoices pertaining to previous FY would be auto populated in Form GSTR-9 as “ITC available as per GSTR-2A” irrespective of the month in which the invoice is declared in Form GSTR-1 by the vendor.

Only the Invoices declared in Form GSTR-1 during the previous FY would be reflected in Form GSTR-9 & not the invoices declared after the FY.

This would be the logical manner of reconciliation.

Rate Changes (Effective date to be notified)
Erstwhile Rate
Amended Rate
Transmission shafts including cam shafts and crank shafts and cranks (excluding crankshaft for sewing machine); gear boxes and other speed changers, including torque converters; flywheels and pulleys, including pulley blocks; clutches and shaft couplings including universal joints
Monitors and TV up to screen size of 32 inches
Re-treaded or used pneumatic tyres of rubber
Power banks of Lithium Ion Batteries
Digital Camera and Video camera recorders
Video games consoles and Machines, article and accessories for billiards [9504 20 00], other games operated by coins, banknotes, i.e., casino games [9504 20 00] and others [other than board games of 9504 90 90
Natural cork, de-backed or roughly squared, or in rectangular (including square) blocks, plates, sheets or strip (including sharp-edged blanks for corks or stoppers)
Articles of natural cork such as Corks and Stoppers, Shuttlecock cork bottom
Agglomerated cork (with or without a binding substance) and articles of agglomerated cork
Solar Industry – Due to the recent ARA rulings there was confusion brewing among the industry with respect to the taxability of solar projects.
To resolve the dispute the Council has recommended that in all such cases, the 70% of the gross value shall be deemed as the value of supply of said goods attracting 5% rate and the remaining portion (30%) of the aggregate value of such EPC contract shall be deemed as the value of supply of taxable service attracting standard GST rate.

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