34th meeting of the GST committee members was held on 19th March 2019, where Members met via video conferencing where they discussed and endeavoured to pass circulars pertaining to rate cut on affordable and non affordable housing under construction.
- Due date for filing of GSTR 3b return for the month of January 2019 has been extended to 22nd
February 2019. - The GST council has Increased the GST threshold for registration of Suppliers of Goods from 20
Lakhs to 40 Lakhs. - The GST committee as a initiative introduced a newly made composition scheme for service
providers and for those parties which are engaged in providing services along with the supply of
goods. The turnover limit in this case has been devised at Rs 50 lakhs and the rate of taxation
has been kept at 6%. - GSTR 9A, 9C ,9 filing due date extended till 30th June 2019. The trials for filing the new returns
have encouraged from April 1st 2019. - Clarification on refund related issues was made vide circular No. 75/53/2018, where in it
highlighted the following issues for refund seekers and addressed them:
a) Physical submission of refund claims with jurisdictional proper officer
b) Calculation of refund amount for claims of refund of accumulated Input Tax Credit
(ITC) on account of inverted duty structure
c) Mode of disbursal of refund amounts after sanction:
d) Issues related to refund of accumulated Input Tax Credit of Compensation Cess
e) Refund of accumulated ITC of input services and capital goods arising on account of
inverted duty structure/li>
No rate cuts were announced this time. GoMs were formed to study taxation of under-construction
properties & lotteries.
Calamity cess up to 1% for up to 2 years will be charged for supplies made within the State of
Kerala<