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Expectations from 39th GST Council Meeting

Rohit Kumar Singh 
Updated on 16 March 2020

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The 39th GST Council meeting will be held on the 14th March 2020, at Vigyan Bhawan, New Delhi. Taxpayers and practitioners have huge expectations from the meeting as the meeting is being held just two weeks before the last date of filing Annual Returns for FY 18-19 and the implementation of the New Return System. Below are some expectations from the 39th GST Council Meeting:

1. Deferment and relaxation of e-Invoicing under GST :

The GST Council in its 35th GST Council Meeting announced the implementation of e-invoicing. As per the latest CBDT notification, the e-invoicing generation was to start from 1st April 2020. However, the Council in it's 39th meeting may defer GST E-Invoicing and QR Code benefits till 30th June 2020. It may also relax certain category of taxpayers from E-Invoicing and QR Code. 

2. The current format of GST Returns may continue till September 2020:

The New GST Return which is scheduled to be implemented from the 1st of April 2020, it's implementation might get delayed keeping in mind the technical inefficiencies that are quite obvious on the portal. However, there is already a trial available on the portal for the new return system.  The current format of GSTR 1 and GSTR 3B may continue till September 2020.

Expectations from 39th GST Council Meeting

3. Clarification on Interest collection on Gross GST Liability:

The FM in her budget speech had proposed that the interest collection will be on Net Gst Liability and the Section 50 of the CGST Act will be amended. However later the clarification from CBDT came that interest collection will continue to be collected on the Gross GST payment till the amendment is made with a prospective effect. Taxpayers had raised concerns on the same, GST Council may provide clarity on payment of Interest on delayed filing of GSTR 3B (beyond due date). The Department is demanding Interest on Gross Liability at 18% on delayed payment of GST u/s 50 of the CGST Act, 2017.

4. Aadhaar Based Authentication for GST

GST Council may decide to finalize contours for Aadhaar based authentication.

5. Extension of due date for filing Annual Returns and GST Audit (GSTR 9 and GSTR 9C)

The last date to file GST Annual Returns for FY 2018-19 is 31st March 2020. However, due to the problems being faced by the taxpayers on the portal the GST Council may decide to extend the due date for filing Annual Return (Under Form GSTR 9) and Audit Report (Form GSTR 9C) to 30th June 2020. 

6. Proposed GST Rate Changes for correction in Inverted Duty Structure 

GST rate changes has been proposed for Mobile Phones, Textiles, Footwear and Fertilizer Industry. The rate calibration is due to accumulation of ITC since rate of Inputs are higher than the rates of output (Mainly due to Input Service and Capital Goods which are taxed at 18%).

What are your expectations from the 39th GST Council meeting?


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