39th Meeting of GST council held in New Delhi today. Some of highlights are given below:-.
- It was decided to raise the GST rate on mobile phones and specific parts to 18% form 12%.
- A completely enhanced capacity with better system of GSTN will be made available by July 2020, instead of Jan 2021.
- 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.
- It was decided that GST Rate on matchsticks (man-made or machine made) will be 12% for both types.
- The council has decided to extend the deadline for filing the GST9R and GSTR9C for FY 18-19 till June 30 from March 31.
- 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.
- Turnover limit for mandatorily filing of GST has been increased to Rs 5 crore annual turnovers from Rs 2 crores.
- The council has decided not to hike rates of fertilisers and footwear.
click here to download press release for 39th GST council meeting.