Recommendations made in 39th GST Council Meeting held on 14th March, 2020
Extension and Deferment
Revocation of cancellation of registration being cancelled till 14.03.2020 can be filed up-to 20.06.2020;
Exemption from GSTR-9C, entities having aggregate turnover below Rs. 5 crores for the FY 2018-19;
Due date for filing GSTR-9 & GSTR-9C for FY 2018-19 extended to 30.06.2020;
Waiver of late fees of GSTR-9 and 9C for FY 2017-18 and 2018-19 for taxpayers with aggregate turnover less than Rs. 2 crores.
FORM GSTR-1 for 2019-20 waived for taxpayers who could not opt the option of special composition scheme by filing FORM CMP-02.
For registered person having principal place of business in Ladakh due dates for FORM GSTR-3B to be extended till 24th March, 2020 for the period Jul-2019 to Jan-2020.
Exemption from issuing e-invoices or capturing dynamic QR code to certain class of registered persons
Dates for implementation of e-invoicing and QR Code to be extended to 01.10.2020.
Time to finalize e-Wallet scheme extended up to 31.03.2021
Exemptions from IGST and CESS on the imports made under the AA/EPCG/EOU schemes extended up to 31.03.2021
Introduction of new return filing scheme extended till September, 2020;
Amendment in law
Interest to be charged on net cash liability for delay in payment of GST w.e.f 01.07.2017;
New initiative and facilities
Introduction of ‘Know Your Supplier’ facility to get basic information about the suppliers.
Transition procedure prescribed in Dadra and Nagar Haveli & Daman and Diu; to be completed by 31.05.2020.
Bunching of refund claims allowed across financial years
Circulars to be issued for clarification:
In apportionment of ITC in cases of business reorganization;
Appeals during non-constitution of the Appellate Tribunal;
On refund related issues; and
On special procedure for corporate debtors undergoing the corporate insolvency resolution process
Amendments to the CGST Rules to provide for:
Procedure for reversal of ITC in respect of capital goods used for affecting both taxable supplies exempt supplies;
Ceiling on value of the export supply for refund calculation;
Refund to be sanctioned in both cash and credit in case of excess payment of tax; and
To operationalize Aadhaar authentication for new taxpayers.
