Home Top Ad

Find latest updates below

Recent changes in GST law consequent to 31st GST council meeting


GST Council met for the 31st time on 22nd December 2018, Saturday at Vigyan Bhavan, through video conferencing New Delhi.

It was chaired by the Finance Minister Shri Arun Jaitley.
Consequent to that following orders/Circulars or Notification issued on 31st of Dec’2018.

Sr. No

Central Tax
67/2018-Central Tax
79/2018-Central Tax ,Dt.31-12- 2018
Central  Tax   Rate
24/2018-Central Tax (Rate), Dt.31-12-2018
30/2018-Central Tax (Rate), Dt.31-12-2018
76/50/2018 Date 31-
Date 31-12-2018


Here are the highlights of amendment
or changes made are as follows:
Ø  GST 2.0 to be implemented on trial basis in April 2019
New return filing system to be started on a trial basis from April 1, 2019, and will be to be implemented by July 1, 2019
Ø  E-way bills norms made strict
Taxpayers cannot generate e-way bill if they do not file GST returns for two consecutive tax periods
Ø  Waiver of fees to improve GST return compliance
  • Late fee waiver for all the GST returns yet to be filed as on 22nd December 2018 up to 31st March 2019, for the months July 2017 up to September 2018.
  • Further time to claim the Input tax credit for FY 2017-18 allowed up due date of filing GSTR-3B of March 2019, subject to conditions.
Ø  Simplification of Form GSTR-9 & GSTR-9C
  • HSN code may be declared only for those inward supplies whose value independently accounts for 10% or more of the total value of inward supplies.
  • If any additional payments are to be made they can be done through the FORM GST DRC-03 in cash.
  • ITC cannot be availed through FORM GSTR-9 and FORM GSTR-9C.
  • Verification by a taxpayer who is uploading the reconciliation statement would also be included in FORM GSTR-9C.
  • All monthly/quarterly GST Returns must be filed before filing Annual return.
  • Outward or Inward supplies to be declared in the Annual returns to be ‘supplies made during the financial year’ and not ‘supplies, as declared in GST returns filed.
  • Value of ‘No Supply’ can be declared under Exempt supplies section at Table 5D, 5E or 5F of GSTR-9
  • In GSTR-9, Table 8A-ITC as per GSTR-2A – auto-populates all invoices related to FY 2017-18 irrespective of the month of filing GSTR-1 by suppliers
Ø  Due date extensions recommended
  • The due date for filing of GST Annual Return (GSTR-9) and Reconciliation statement ( GSTR-9C) after GST Audit to be extended till 30th June 2019.
  • GSTR-8 to be filed by e-commerce operators for the period 1st October 2018 to 31st December 2018 will be extended to 31st January 2019.
  • Filing of ITC-04 for the months July 2017 to December 2018 to be extended to 31st March 2019.
Ø  The scope of Composition scheme to be expanded
Council to meet again in January 2019 to decide whether or not to include under  Composition scheme: the supply of residential properties under real estate and supply of services by small service providers. A group of ministers(GoM) is to be formed for looking into the same.
Ø  GST Rates rationalized
  • Today’s GST rates reduction will have an overall impact on revenue of Rs 5500 crore, said Jaitley.
  • Recommendations made by the Fitment committee reports have been taken into consideration in today’s meet.
  • No change in tax rate on Cement: 13 items of automobile parts, 8 items of the cement industry still remain under 28 %GST Slab.
  • Third party insurance lowered to 12 percent GST Slab from the earlier 18%.
  • 6 goods and 1 service have been removed from the 28 % GST Slab tax bracket under the Good Services Tax (GST) regime.
  • GST for cinema tickets being less than Rs 100 has a reduced tax rate from 18% to 12% GST Slab, for tickets equal to or above Rs 100, GST reduced from 28% to 18%.
  • Lithium-ion batteries charges, video games consoles, small sport related items, accessories for carriages for disabled removed from 28% slab.
  • Items claimed to be used by the upper segments such as Air conditioners, dishwashers will remain at 28% GST Slab.
  • Bank charges (savings bank), and Pradhan Mantri Jan Dhan Yojana has been exempted from GST.
  • GST rate on special flights for pilgrims slashed for the economy to 5 percent and business class to 12 percent. These include travel by non-scheduled/chartered operations for religious pilgrimage, which is facilitated by GoI under bilateral agreements.


  1. P.O. financers like to finance finished goods being dropped shipped to an end customer. They are better at providing financing when there is a single customer and a single supplier.
    payday loan online az

  2. Excellent website! I adore how it is easy on my eyes it is. I am questioning how I might be notified whenever a new post has been made. Looking for more new updates. Have a great day! financial news for today

  3. I recently came across your article and have been reading along. I want to express my admiration of your writing skill and ability to make readers read from the beginning to the end. I would like to read newer posts and to share my thoughts with you. cheaploansdirectory.com

  4. Wow, this is fascinating reading. I am glad I found this and got to read it. Great job on this content. I liked it a lot. Thanks for the great and unique info. KETQUAMOINHAT

  5. When you use a genuine service, you will be able to provide instructions, share materials and choose the formatting style. best academic writing companies

  6. Thanks for a very interesting blog. What else may I get that kind of info written in such a perfect approach? I’ve a undertaking that I am simply now operating on, and I have been at the look out for such info. Christmas loans for bad credit

  7. Accepting a getting pace of 6 percent, the 45-day slack in installment brings about a conveying cost of $371,204. In the event that similar numbers are run with a renting account program that produces installment inside 2 days, the conveying cost drops $82,253, sparing the organization more than $288,951 in one business quarter.

  8. I found your this post while searching for some related information on blog search...Its a good post..keep posting and update the information. Arizona emergency cash

  9. I am grateful to the writer for writing this.

  10. This comment has been removed by the author.

  11. The hardest thing about financing a vehicle through these dealers is usually finding them. With so many dealerships advertising Guaranteed Auto Approvals, Bad Credit - No Credit Car Financing and the like but most of them do not have any options for you if you are declined by the national finance companies.burlington houses for sale

  12. Equity finance means the owner, own funds and finance. Usually small scale business such as partnerships and sole proprietorships are operated by their owner trough their own finance. Joint stock companies operate on the basis of equity shares, but their management is different from share holders and investors.https://myifsccode.com/

  13. I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post. slick cash loan

  14. I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog, I will keep visiting this blog very often. buy cheap instagram likes instantly

  15. Thank you for some other informative website. The place else may just I get that kind of information written in such a perfect method? I have a venture that I am simply now running on, and I’ve been at the glance out for such info. discrimination lawyer los angeles

  16. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here! keep up the good work... slick cash loan

  17. I actually enjoy the posting. It usually is wonderful to evaluate any one demonstrate around thoughts in the cardiac coupled with lucidity in this significant dilemma can be immediately found. Finance

  18. The meaning of totality of the conservative relations framed during the time spent arrangement, conveyance and utilization of finances,usaa routing number as cash sources is broadly spread

  19. Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info. Jawad Azizi

  20. you should always keep in mind that you are going to want to find financial solutions that really meet your needs.to learn more

  21. Finances exist on the state level and furthermore on the makes and branches' level as well, and in such conditions, when the most piece of the fabricates are not state. Financial planner

  22. Short term investments will not make you richer Time is another important deciding factor calculate tax return. Accumulation takes its own time. Time and higher rate of compounded growth rate will make you rich.

  23. Cool you write, the information is very good and interesting, I'll give you a link to my site. Finance

  24. Cool you write, the information is very good and interesting, I'll give you a link to my site. Finance

  25. This is just the information I am finding everywhere. Thanks for your blog, I just subscribe your blog. This is a nice blog.. internal audit tracking software

  26. In any case, "Playmate James," as he was presently brought in the press, guaranteed Smith he would patch his delinquent ways, in the event that he was chosen for the best position around. NYC Mayor

  27. Awesome post, and incredible site. Much obliged for the data! Business Analytics

  28. Positive site, where did u come up with the information on this posting? I'm pleased I discovered it though, ill be checking back soon to find out what additional posts you include. bad credit history

  29. I was surfing the Internet for information and came across your blog. I am impressed by the information you have on this blog. It shows how well you understand this subject. Dr. Gőz Péter ügyvéd Debrecen

  30. You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers.abogado de inmigracion consulta gratis

  31. You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers. abogado de inmigracion consulta gratis

  32. Thanks for picking out the time to discuss this, I feel great about it and love studying more on this topic. It is extremely helpful for me. Thanks for such a valuable help again. 파워볼 안전사이트