scorecardresearch
Follow Us:
Monday, April 19, 2021

GST Council: Anti-profiteering authority’s tenure extended, rate cut on EVs sent to fitment panel

The GST council has extended the date for filing annual returns under the Goods and Services Tax (GST) regime by two months to August 30. The one-form new GST return filing system will be applicable from January 1, 2020.

By: Express Web Desk | New Delhi |
Updated: June 21, 2019 7:56:46 pm
Nirmala Sitharaman, Rafale deal, Rafale deal documents stolen, balakot air strike, balakot air strike proof, pulwama attack, supreme court on Rafale deal, Modi biopic, Naendra Modi, Rahul gandhi, lok sabha elections, general elections, election news, decision 2019, lok sabha elections 2019, indian express The meeting was being seen as a litmus test for new finance minister Nirmala Sitharaman.

The 35th GST Council meeting Friday extended the tenure of the anti-profiteering authority by two years and also imposed a penalty of up to 10 per cent on entities not passing on benefits of GST rate cuts to consumers. This was Nirmala Sitharaman’s first GST Council meeting after she took charge as the Union Finance Minister.

Revenue Secretary A B Pandey, who briefed media after the meeting, said that it has been decided to allow the use of Aadhaar by businesses to register with GST-Network.

Besides this, the council has extended the date for filing annual returns under the Goods and Services Tax (GST) regime by two months to August 30, 2019, Pandey said, adding that the one-form new GST return filing system will be applicable from January 1, 2020.

The Council, which is headed by the Union Finance Minister and comprises representatives of all states and UTs, also approved an electronic invoicing system and e-ticketing in multiplexes.

The revenue secretary also said the proposal to reduce GST rate on EVs to 5 per cent from the current 12 per cent and on electric charger to 12 per cent from 18 per cent respectively has been sent to the fitment committee for fine-tuning.

Among other developments in the meeting, the tenure of National Anti-Profiteering Authority (NAA) has been extended by two years till November 30, 2021.

Soon after the GST was rolled out from July 1, 2017, the government had approved setting up the NAA for two years to deal with complaints by consumers against companies for not passing on GST rate cut benefits.

The NAA came into existence on November 30, 2017, after its Chairman B N Sharma assumed charge. So far, the NAA has passed 67 orders in various cases and complaints still keep coming in.

-With PTI

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
Advertisement
x