Updates on 38th GST Council meeting and due date extensions...
The 38th GST council meeting the due date for annual return which is GSTR-9 and reconciliation statement which is GSTR-9C (GST annual return) for FY 2017-18 to be extended to 31 January 2020.
The second update on the GST council meeting is the tax periods between Jul 17 to Nov 19 thelate fee for GSTR-1 will be waived off,
if it is filed before 10 January 2020.
If the taxpayer does not file for more than two tax periods, then the e-way bills of such taxpayers will be blocked from generation.
Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in GSTR2A shall be restricted to 10% of the eligible credit available in GSTR 2A.
To check the Fraudulent or fake invoices, suitable action to be taken for blocking of fraudulently availed input tax credit in certain circumstances.
The SOP(Standard Operating Procedure) is to be released for the benefit of taxation officers for actions taken for the non-filing of GSTR-3B.
On 38th GST council meeting theDue date of GST returns for the month of November 2019 to be extended to some North Eastern States.
Lastly, on the GST Council meeting, some of the amendments will be introduced in Budget 2020.
1 Comments
Nice one and thank you..
ReplyDelete