{"id":633,"date":"2020-03-16T07:52:20","date_gmt":"2020-03-16T07:52:20","guid":{"rendered":"https:\/\/www.gstrobo.com\/kc\/news\/?p=633"},"modified":"2020-03-25T08:47:46","modified_gmt":"2020-03-25T08:47:46","slug":"updates-from-39th-gst-council-meeting-held-on-14th-march-2020","status":"publish","type":"post","link":"https:\/\/www.gstrobo.com\/kc\/news\/updates-from-39th-gst-council-meeting-held-on-14th-march-2020\/","title":{"rendered":"Updates from 39th GST Council Meeting held on 14th March, 2020"},"content":{"rendered":"\n<p>Recommendations made in 39th Meeting of the GST Council held on 14th March, 2020  are as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>E-Invoicing and QR code applicability deferred to 1st October, 2020.<br>Present returns in GSTR-1 &amp; Form GSTR-3B to continue till September,  2020. New returns are likely to be implemented from 1st October, 2020.<br><\/li><li>Filing of GSTR-9C has been waived off for the financial year 2018-19 for the businesses having a turnover less than 5 crores.<br><\/li><li>Due date for filing of GSTR-9 (Annual Return) and GSTR-9C Reconciliation Statement for financial year 2018-19 will be extended to June 30, 2020.<br><\/li><li>For taxpayers having aggregate turnover less than 2 Crore in the Financial year 2017-18 &amp; 2018-19, no late fees will be charged for delayed filing of GSTR-9.<br><\/li><li>New facility &#8221; Know your customer&#8221; to be introduced to enable registered persons to have some basic information about the suppliers with whom they conduct or propose to conduct business.<br><\/li><li>Interest for delay in payment of GST to be calculated on net cash tax liability, it will be effective from 1st July, 2017 (retrospective changes to be made in law).<br><\/li><li>GSTR-1 for financial year 2019-20 will be waived for certain taxpayers who could not opt for the special composition scheme by filing FORM CMP-02.<br>Nandan Nilekani to be present at the next 3 council meetings and make a presentation on the progress made.<br><\/li><li>More time for finalizing the e-wallet scheme up to 31.03.2021.<\/li><\/ul>\n\n\n\n<p>Recommendations of the GST council will be given effect through relevant circulars\/notifications or amendments in GST laws which alone shall have the force of law.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gstrobo.com\/resources\/press-release-GST-Councilin-the-39th-meeting-held-on-14th-March-2020.pdf\">More Details<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recommendations made in 39th Meeting of the GST Council held on 14th March, 2020 are as follows: E-Invoicing and QR code applicability deferred to 1st October, 2020.Present returns in GSTR-1 &amp; Form GSTR-3B to continue till September, 2020. New returns are likely to be implemented from 1st October, 2020. Filing of GSTR-9C has been waived &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[230],"class_list":["post-633","post","type-post","status-publish","format-standard","hentry","category-news-updates","tag-39th-gst-council-meeting"],"_links":{"self":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/comments?post=633"}],"version-history":[{"count":1,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/633\/revisions"}],"predecessor-version":[{"id":634,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/633\/revisions\/634"}],"wp:attachment":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/media?parent=633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/categories?post=633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/tags?post=633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}