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GST 39th Council Meeting Update:- GST on mobile phone and parts increased to 18% and Deadline for GST filing extended.

39th Meeting of GST council held in New Delhi today. Some of highlights are given below:-.

  1. It was decided to raise the GST rate on mobile phones and specific parts to 18% form 12%.
  2. A completely enhanced capacity with better system of GSTN will be made available by July 2020, instead of Jan 2021.
  3. It was decided to reduce the GST rate on MRO services in respect of aircraft from 18 per cent to 5 per cent with full ITC.
  4. It was decided that GST Rate on matchsticks (man-made or machine made) will be 12% for both types.
  5. The council has decided to extend the deadline for filing the GST9R and GSTR9C for FY 18-19 till June 30 from March 31.
  6. The council decided not to levy Late fees for the delayed filing of the annual return & reconciliation statement for 2017-18 & 2018-19 for taxpayers with aggregate turnover less than Rs 2 crore.
  7. Turnover limit for mandatorily filing of GST has been increased to Rs 5 crore annual turnovers from Rs 2 crores.
  8. The council has decided not to hike rates of fertilisers and footwear.

click here to download press release for 39th GST council meeting.

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