CA Mohamed Asharaf FCA, DISA(ICA)

31 st  GST Council Meeting- 7 things to know In the 31 st  GST Council meeting, the Council has proposed various relief to the taxpayers,  inter-alia , reduction of GST rates on goods and services, extension of due date for filing of Annual return and GST Audit. All such recommendations would be effective after the issuance of necessary notifications in this regard. Key takeaways from 31 st  GST Council meeting are as follows: 1. New Return Filing System The CBIC has already issued the draft mechanism for new return filing system. This new return filing system shall be introduced on trial basis from April 1, 2019, which shall be made mandatory from July 1, 2019. 2. Extension of due dates of various returns   a) The GST Council has made the recommendation for extension of due date for filing of GST Annual Return in Form GSTR-9 or GSTR-9A and GST Audit in Form GSTR-9C for financial year 2017-18. The revised due date shall be June 30, 2019.   b...