{"id":20425,"date":"2019-06-23T11:00:25","date_gmt":"2019-06-23T05:30:25","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=20425"},"modified":"2021-03-22T15:45:51","modified_gmt":"2021-03-22T10:15:51","slug":"35th-gst-council-meetings","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/35th-gst-council-meetings\/","title":{"rendered":"All about 35th GST Council Meeting Overview"},"content":{"rendered":"<p class=\"has-drop-cap\">The 35<sup>th<\/sup> GST Council meeting held on June 21, 2019 is the first council meeting chaired by the current and the second female Union Finance Minister, Smt. Nirmala Sitharaman. Various amendments are proposed to be made in this meeting for the simplification of GST Rules. <\/p>\n\n\n\n<p>Let us describe the points which were drawn\nattention to in this meeting;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key highlights of the 35<sup>th<\/sup> GST Council Meeting<\/h2>\n\n\n\n<p>The following are the major highlights of\nthis meeting<\/p>\n\n\n\n<ul><li>The due date for filling the GSTR-9, GSTR-9A and GSTR-9C for FY 2017-18 is extended by two months. The new date is 31<sup>st<\/sup> August 2019.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"580\" height=\"351\" src=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/06\/image-87.png\" alt=\"Key highlights of the 35th GST Council Meeting\" class=\"wp-image-20426\" srcset=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/06\/image-87.png 580w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/06\/image-87-300x182.png 300w\" sizes=\"(max-width: 580px) 100vw, 580px\"\/><\/figure><\/div>\n\n\n\n<ul><li>Introduction of Aadhar-enabled <a rel=\"noreferrer noopener\" aria-label=\"GST Registration (opens in a new tab)\" href=\"https:\/\/enterslice.com\/gst-registration\" target=\"_blank\">GST Registration<\/a><ul><li>This change is introduced to reduce paper work and to simplify the GST Registration process.<\/li><li>The GST Council has proposed an upgrade for the verification system of taxpayers and the way to register themselves under GST.<\/li><li>Under this the Aadhar number has to be linked with the GSTIN<\/li><\/ul><\/li><li>Tenure of NAA is extended by two years<ul><li>The previous tenure of NNA was due to end by 30 November 2019<\/li><li>The council has extended this tenure by two years<\/li><li>Therefore, the NNA can take cases if the there is any rate cutting cases. This stipulates that the GST Council is planning to rationalize GST rates.<\/li><\/ul><\/li><li>The penalty for failing to deposit profiteered amount after 30 days is 10%<\/li><li>From January 2020 E-Invoicing will start<ul><li>This new system will be applicable from 1 January 2020<\/li><li>Applicable only for B2B invoicing<\/li><li>No e-way bill will be needed in the case of e-invoice<\/li><li>Returns has to be drawn from these e-invoices<\/li><\/ul><\/li><li>&nbsp;E-ticketing is compulsory for multiplexes<\/li><li>The issue of GST rate cuts for electric vehicles is sent to the Fitment Committee for further discussion<\/li><li>&nbsp;The rate cut for GST is put on hold for further discussion with the Attorney General of India<\/li><li>Other extensions of due dates<ul><li>Due date of Form ITC-04 for July 2017-june 2019 is extended to 31 august 2019<\/li><li>Due date of Form CMP-02 is extended to 31 July 2019 <\/li><\/ul><\/li><li>E-way bills will be blocked if;<ul><li>GST Returns GSTR-3B\/GSTR-4 is not filled for two consecutive tax periods<\/li><li>This will be applicable from 21 August 2019, which previously was 21 June 2019<\/li><\/ul><\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" loading=\"lazy\" width=\"628\" height=\"484\" src=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/06\/image-89.png\" alt=\"Highlights of 35th Council Meeting\" class=\"wp-image-20502\" srcset=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/06\/image-89.png 628w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/06\/image-89-300x231.png 300w\" sizes=\"(max-width: 628px) 100vw, 628px\"\/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">How the 35<sup>th<\/sup> GST Council Meeting held?<\/h2>\n\n\n\n<p>The <strong>35<\/strong><sup><strong>th<\/strong><\/sup><strong> GST Council meeting<\/strong> was held on June 21, 2019 in New Delhi. This meeting was chaired by present Financial Meeting of the newly elected Government of India. Altogether, twelve agenda items were discussed in this meeting including the minutes of the 34<sup>th<\/sup> Council meeting.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A Glimpse of the Highlights of the 34<sup>th<\/sup> Council Meeting<\/h2>\n\n\n\n<p>The <strong>34<sup>th<\/sup> Council meeting<\/strong><sup><a href=\"http:\/\/www.gstcouncil.gov.in\/34th-gst-council-meeting\"><strong>[1]<\/strong><\/a><\/sup> was held on 19 March 2019, New Delhi. The meeting was chaired by then Finance Minister Mr. Arun Jaitley. The key highlights of the meeting are;<\/p>\n\n\n\n<p><strong>Options with\nrespect of ongoing projects: <\/strong>The\npromoters will be provided with a one-time option to continue to pay their\ntaxes at a rate at which they were paying previously. This is applicable for\ntaxpayers whose projects are still ongoing.<\/p>\n\n\n\n<p><strong>New tax\nrates<\/strong>: new tax rates will be applicable\nto new ongoing projects which have exercised the prescribed activities.<\/p>\n\n\n\n<p><strong>Conditions\nfor the new tax rates: <\/strong>The new tax\nrates includes 1% for construction of affordable and 5% on other than\naffordable houses will be available under prescribed conditions<\/p>\n\n\n\n<p><strong>Opting for\nthe new tax rates will transition the ITC as per the prescribed methods for the\nongoing projects <\/strong><\/p>\n\n\n\n<p><strong>Treatment of\nTDR\/FSI and long term lease for projects started after 1 April 2019<\/strong><\/p>\n\n\n\n<p><strong><a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Amendment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;An &amp;quot;amendment&amp;quot; refers to the formal change or correction of a legal document, often involving additions, variations, or deletions to address irregularities or clarify points in an agreement.(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/amendment\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>Amendment<\/a> in\nthe ITC rules<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Disclaimer<\/h2>\n\n\n\n<p>The 35<sup>th<\/sup> council made rules regarding the simplifications of GST Rules. These rules will simplify the <a href=\"https:\/\/enterslice.com\/gst-return-filing\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"GST return (opens in a new tab)\">GST return<\/a> system for consumers. Steps are taken towards reducing paperwork and reduce hassle for taxpayers when registering themselves under GST. The meeting also resulted in upgrading of upgrade for the verification system of taxpayers. E-ticketing is compulsory for multiplexes to prevent selling of tickets in black.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 35th GST Council meeting held on June 21, 2019 is the first council meeting chaired by the current and the second female Union Finance Minister, Smt. Nirmala Sitharaman. Various amendments are proposed to be made in this meeting for the simplification of GST Rules. Let us describe the points which were drawn attention to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":20429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[],"acf":{"service_id":"132"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>35th GST Council Meeting Overview &amp; Key Updates by Enterslice<\/title>\n<meta name=\"description\" content=\"The 35th GST council meeting made rules regarding the simplifications of GST Rules. 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