Major announcements in today’s GST Council meeting


Here are some of the major announcements in today’s GST Council meeting:

  • Deadline for GSTR 9 and GSTR 9C return filing for financial year 2017-18 extended to January 31, 2020 from December 31, 2019 earlier.
  • GST Council exempts long term lease on industrial plots to facilitate setting up of industrial parks.
  • Land lease GST rates to be applicable from January 1, 2020.
  • Penalty for non-filing of GSTR-1 from July 2017 relaxed.
  • Uniform rate of 18% for woven and non-woven bags.
  • Input tax credit to be restricted to 10 per cent from 20 earlier if invoices not uploaded

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