KEY HIGHLIGHTS OF a 37" GST COUNCIL MEETING The 37th GST Council was held on 20th September 2019 in Goa under the Chairmanship of Union Finance Minister, Smt. Nirmala Sitharaman. Annual Returns For taxpayers with an annual turnover below Rs 2 crores - Annual Return form (GSTR 9) has been made optional for Financial Year 2017-18 and 2018-2019. For Composite Dealers, Annual Return form GSTR 9A Simplified GST Returns The New GST Return filing system under simplified GST regime was supposed to be implemented in a phase based manner from October 2019, will now be introduced with the upcoming financial year i.e. from April 2020. Thus, taxpayers will be required to continue filing their GSTR | and GSTR 3B until March 2020. has been completely waived off for Financial Year 2017-18 and 2018-2019. A committee of officers shall be constituted to examine and simplify annual GST return Furthermore, in order to increase compliance of filing of GSTR | (outward supplies) a form. proposed restriction shall be a applicable on availing ITC by entities who do not file GSTR |. Compensation Cess for 10-13 Seater celtic) Cess on Petrol Motor Vehicle (10-13 seate PA (omen ego EY) Cess on Diesel Motor Vehicle (10-13 seater): 3% (From the previous 15%) GST Rate Revision Plates and cups made of Nil flowers, leaves and bark I Caffeinated Beverages Supplies to Railways Outdoor Catering (without ITC) Woven/ Non-woven polyethylene bags Supply of Machine Job 12% 5% Job work for Diamonds 0.25% 9 18% 12% Wet Grinders (Stone as Grinder) IRIS Business is a leading GST Suvidha Provider (GSP) providing an easy and efficient solution for GST (IRIS Sapphire) and E-way bill (IRIS Topaz) compliance. To have your GST queries solved and to know more about our solution, please contact us at Sage eset f Ta]