Top 13 Takeaways of 39th GST Council Meeting

CA Nikhil Jhanwar | Last updated: 17 March 2020

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The 39th GST Council meeting introduced several key changes aimed at supporting trade and industry. Notably, interest on delayed GST payments will now be calculated on the net cash liability, offering relief to businesses. Filing deadlines for GSTR-9 and GSTR-9C have been extended, with relaxations for MSMEs and waivers for smaller taxpayers. Several important implementations, including e-invoicing and the new GST returns system, have been deferred to later in the year.

Amid huge expectations from GST council from 39th meeting held on 14.03.2020, GST Council has recommended various changes in GST law to facilitate trade and industry at large. We present to you top 10takeways from GST council meeting at New Delhi: 1. Interest on delayed payment to be calculated on net GST liability Council has recommended retrospective change w.e.f. 1st July 2017, to calculate interest on delayed payment of GST on Net liability paid in cash This will come as much req

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About the Author

CA Nikhil Jhanwar

CA,CS

Its Nikhil Jhanwar, CA (May 2011) and CS (December 2011). My area of interest is Corporate Project Finance, Investment Banking, Indirect Taxation. I am passionate about writing articles, blogs, quotes etc. Would like to expand my network across the globe. Yo can freely catch me for any issues/queries/discussion her ... Read more

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