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Tax Audit due date extension AY 2019-20

    

GST Council 37th Meeting Update

    

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

    

Fake Input and refund of IGST on exports - crackdown by DGGI and DRI

    

GST Council may Scrap GSTR-9 and GSTR-9C for FY 17-18 for small taxpayers upto 5 crore turnover

    

Changes in 36th GST Council Meeting held on 27th July 2019

    

CMP-08 due date for quarter April 2019 to June 2019 extended till 31st July 2019

    

Press Release restricting the last date for availing ITC for FY 2017-18 is illegal : Gujarat High Court

    

Budget 2019 Highlights - 05 July 2019

    

Transfer of GST amount from one head to other head (Form GST PMT - 09)

    

DGGST arrests one person for availing and passing fake ITC of Rs.16 Crore.

    

Notification issued to extend the date of blocking and unblocking on e-way bill facility to 21.08.2019.

    

Press Release of 35th GST Council Meeting held on 21st June 2019

    

Issues reported in filing Form GSTR 9C by the taxpayers : Advisory by Team GSTN

    

Issues reported in filing Form GSTR 9 by the taxpayers: Advisory by Team GSTN

    

New GST Return Transition Phase applicable from Oct 2019

    

Latest amendments in GST enacted on 07.03.2019

    

Recommendations of the 33rd GST Council meeting held on 24.02.2019

    

GSTR-3B due date for January 2019 has been extended upto 22.02.2019

    

New GST Input-Output Set off Rules w.e.f. 01.02.2019

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41 20-09-2019

Press Release No. 34 dated 20-09-2019 - Central Tax

Decisions taken by the GST Council in its 37th Meeting held on 20.09.2019

PRESS RELEASE ON GST RATE ON GOODS AS RECOMMENDED BY THE GST COUNCIL IN ITS 37th MEETING HELD ON 20.09.2019 GST Council in the 37th meeting held on 20.09.2019 at Goa took the following decisions in respect to rates relating to goods. I. GST rates reduction, - a) 18% to 12% on parts of Slide Fasteners b) 18% to 5% on Marine Fuel 0.5% (FO) c) 12% to 5% on Wet Grinders (consisting stone as a grinder) d) 5% to Nil on:- (i) Dried tamarind (ii) Plates and cups made up of leaves/ flowers/bark e) 3% to 0.25% on cut and polished semi- precious stones f) Applicable rate to 5% on specified goods for petroleum operations undertaken under Hydrocarbon Exploration Licensing Policy (HELP) g) Exemptions from GST/IGST on:- (i) imports of specified defence goods not being manufactured indigenously (upto 2024) (ii) supply of goods and services to FIFA and other specified persons for organizing the Under-17 Women’s Football World Cup in India. (iii) supply of goods and services to Food and Agriculture Organisation (FAO) for specified projects in India. II. GST rates have been recommended to be increased from, - a) 5% to 12% on goods, falling under chapter 86 of tariff like railway wagons, coaches, rolling stock (without refund of accumulated ITC). This is to address the concern of ITC accumulation with suppliers of these goods. b) 18% to 28% +12% compensation cess on caffeinated Beverages III. Measures for Export Promotion a) Exemption from GST/IGST:- (i) at the time of import on Silver/Platinum by specified nominated agencies (ii) supply of Silver/Platinum by specified nominated agency to exporters for exports of Jewellery, b) Inclusion of Diamond India Limited (DIL) in the list of nominated agencies eligible for IGST exemption on imports of Gold/ Silver/Platinum so as to supply at Nil GST to Jewellery exporters. IV. A uniform GST rate of 12% on Polypropylene/Polyethylene Woven and Non- Woven Bags and sacks, whether or not laminated, of a kind used for packing of goods (from present rates of 5%/12%/18%) V. GST concession in certain cases for specific period: - a) Exemption to Fishmeal for the period 01.07.17 to 30.09.19. There were doubts as regards taxability of fishmeal in view of the interpretational issues. However, any tax collected for this period shall be required to be deposited. b) 12% GST during the period 1.07.2017 to 31.12.2018, on pulley, wheels and other parts (falling under heading 8483) and used as parts of agricultural machinery. VI. Passenger vehicles of engine capacity 1500 cc in case of diesel, 1200 cc in case of petrol and length not exceeding 4000mm designed for carrying upto 9 persons attract compensation cess of 1% for petrol and 3% for diesel vehicle. Council recommended same compensation cess rate for vehicles having these specifications (length and engine capacity) but designed for carrying more than 10 persons but upto 13 persons. (Presently these vehicles attract compensation cess at the rate of 15%) VII. Other miscellaneous Changes:  Aerated drink manufacturers shall be excluded from composition scheme.  Option to pay GST at the rate of 18% on transaction value at the time of disposal of specified goods for petroleum operations (on which concessional GST rate of 5% was paid at the time of original supply) provided that the goods are certified by Directorate General of Hydrocarbons (DGH) as non-serviceable.  Restriction on refund of compensation cess on tobacco products (in case of inverted duty structure)  Prescribing modalities for allowing concessions on spare parts imported temporarily by foreign airlines for repair of their aircraft, while in India in transit in terms of the Chicago Convention on Civil Aviation.  Certain other changes of technical nature for the sake of clarity in application of notification. VIII. Clarifications as regards applicability of GST rate in respect of certain goods recommended by GST Council which inter-alia includes: a) Mere heating of leguminous vegetables (gram/lentil) for removing moisture, or to soften and puff it or removing the skin, and not subjecting to any other processing or addition of any other ingredients (salt, oil etc.) would be classified under HS code 0713. b) All “mechanical sprayers” falling under HS Code 8424 would attract 12% GST. c) Parts like Solar Evacuation tubes for solar power based devices like solar water heater, solar steam, generation systems, would be eligible to 5% GST rate. d) Exclusive parts and accessories suitable for use solely or principally with a medical device (falling under headings 9018, 9019, 9021 or 9022) would fall in respective headings and attract GST at the concessional rate of 12%. e) Almond milk is classifiable under HS code 22029990 and attracts GST rate of 18%. f) Imported stores for Navy would be entitled to exemption from IGST. The rate changes shall be made effective with effect from 1st October, 2019. [This note presents the decision of the GST Council in simple language for ease of understanding, which would be given effect to through Gazette notifications/circulars, which shall have force of law.]

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42 20-09-2019

Press Release No. 33 dated 20-09-2019 - Central Tax

Decisions on Services taken by the GST Council in its 37th Meeting held on 20.09.2019 at Goa

1 PRESS RELEASE ON GST RATE ON SERVICES AS RECOMMENDED BY THE GST COUNCIL IN ITS 37th MEETING HELD ON 20th SEPTEMBER, 2019 GST Council in the 37th meeting held on 20th September, 2019 at Goa took following decisions relating to changes in GST rates, ITC eligibility criteria, exemptions and clarifications on connected issues. (A) EXEMPTIONS / CHANGES IN GST RATES / ITC ELIGIBILITY CRITERIA: Rate reduction sector wise: Hospitality and tourism: 1. To reduce the rate of GST on hotel accommodation service as below: - Transaction Value per Unit (Rs) per day GST Rs 1000 and less Nil Rs 1001 to Rs 7500 12% Rs 7501 and more 18% 2. To reduce rate of GST on outdoor catering services other than in premises having daily tariff of unit of accommodation of Rs 7501 from present 18% with ITC to 5% without ITC. The rate shall be mandatory for all kinds of catering. Catering in premises with daily tariff of unit of accommodation is Rs 7501 and above shall remain at 18% with ITC. Job work service: 3. To reduce rate of GST from 5% to 1.5% on supply of job work services in relation to diamonds. 4. To reduce rate of GST from 18% to 12% on supply of machine job work such as in engineering industry, except supply of job work in relation to bus body building which would remain at 18%. Exemption sector wise: Warehousing: 5. To exempt prospectively services by way of storage or warehousing of cereals, pulses, fruits, nuts and vegetables, spices, copra, sugarcane, jaggery, raw vegetable fibres such as cotton, flax, jute etc., indigo, unmanufactured tobacco, betel leaves, tendu leaves, rice, coffee and tea. Transportation: 6. To increase the validity of conditional exemption of GST on export freight by air or sea by another year, i.e. till 30.09.2020. 2 Insurance: 7. To exempt “BANGLA SHASYA BIMA” (BSB) crop insurance scheme of West Bengal Government. 8. To exempt services of life insurance business provided or agreed to be provided by the Central Armed Paramilitary Forces (under Ministry of Home Affairs) Group Insurance Funds to their members under the respective Group Insurance Schemes of these Central Armed Paramilitary forces. Export promotion: 9. To exempt services provided by an intermediary to a supplier of goods or recipient of goods when both the supplier and recipient are located outside the taxable territory. 10. To issue a notification under Section 13(13) of IGST Act notifying the place of supply of specified R&D services (such as Integrated discovery and development, Evaluation of the efficacy of new chemical/ biological entities in animal models of disease, Evaluation of biological activity of novel chemical/ biological entities in in-vitro assays, Drug metabolism and pharmacokinetics of new chemical entities, Safety Assessment/ Toxicology, Stability Studies, Bio Equivalence and Bio Availability Studies, Clinical trials, Bio analytical studies) provided by Indian pharma companies to foreign service recipients, as the place of effective use and enjoyment of a service i.e. location of the service recipient. 11. To clarify that the place of supply of chip design software R&D services provided by Indian companies to foreign clients by using sample test kits in India is the location of the service recipient and section 13(3)(a) of IGST Act, 2017 is not applicable for determining the place of supply in such cases. Miscellaneous 12. To allow the registered authors an option to pay GST on royalty charged from publishers under forward charge and observe regular GST compliance. 13. To notify grant of liquor licence by State Governments against payment of license fee as a “no supply” to remove implementational ambiguity on the subject. 14. To exempt services related to FIFA Under-17 Women's World Cup 2020 similar to existing exemption given to FIFA U17 World Cup 2017. (B) RATIONALIZATION/ TRADE FACILITATION MEASURES: 15. To allow payment of GST on securities lending service under reverse charge mechanism (RCM) at the merit rate of 18% and to clarify that GST on securities lending service for period prior to RCM period shall be paid on forward charge basis. IGST shall be payable on supply of these services and in cases where CGST/SGST/UTGST have been paid, such taxpayers will not be required to pay tax again. 3 16. To allow RCM to suppliers paying GST @ 5% on renting of vehicles, from registered person other than body corporate (LLP, proprietorship) when services provided to body corporate entities. (C) CLARIFICATIONS: 17. To clarify the scope of the entry ‘services of exploration, mining or drilling of petroleum crude or natural gas or both”. 18. To clarify taxability of Passenger Service Fee (PSF) and User Development Fee (UDF) levied by airport operators. Note: It is proposed to issue notifications giving effect to these recommendations of the Council on 1 st October, 2019. [This note presents the decision of the GST Council in simple language for easy understanding which would be given effect to through Gazette notifications/ circulars which shall have force of law.] *****

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43 20-09-2019

Press Release No. 32 dated 20-09-2019 - Central Tax

Decisions taken by the GST Council in its 37th Meeting held on 20.09.2019

Page 1 of 2 37th Meeting of the GST Council, Goa 20 September, 2019 *** PRESS RELEASE (Law and Procedure related changes) The GST Council, in its 37th meeting held today at Goa, recommended the following: 1. Relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under: a. waiver of the requirement of filing FORM GSTR-9A for Composition Taxpayers for the said tax periods; and b. filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for the said tax periods. 2. A Committee of Officers to be constituted to examine the simplification of Forms for Annual Return and reconciliation statement. 3. Extension of last date for filing of appeals against orders of Appellate Authority before the GST Appellate Tribunal as the Appellate Tribunals are yet not functional. 4. In order to nudge taxpayers to timely file their statement of outward supplies, imposition of restrictions on availment of input tax credit by the recipients in cases where details of outward supplies are not furnished by the suppliers in the statement under section 37 of the CGST Act, 2017. 5. New return system now to be introduced from April, 2020 (earlier proposed from October, 2019), in order to give ample opportunity to taxpayers as well as the system to adapt and accordingly specifying the due date for furnishing of return in FORM GSTR-3B and details of outward supplies in FORM GSTR-1 for the period October, 2019 - March, 2020. 6. Issuance of circulars for uniformity in application of law across all jurisdictions: a. procedure to claim refund in FORM GST RFD-01A subsequent to favourable order in appeal or any other forum; b. eligibility to file a refund application in FORM GST RFD-01A for a period and category under which a NIL refund application has already been filed; and c. clarification regarding supply of Information Technology enabled Services (ITeS services) (in supersession of Circular No. 107/26/2019-GST dated 18.07.2019) being made on own account or as intermediary. Page 2 of 2 7. Rescinding of Circular No.105/24/2019-GST dated 28.06.2019, ab-initio, which was issued in respect of post-sales discount. 8. Suitable amendments in CGST Act, UTGST Act, and the corresponding SGST Acts in view of creation of UTs of Jammu & Kashmir and Ladakh. 9. Integrated refund system with disbursal by single authority to be introduced from 24th September, 2019. 10. In principle decision to link Aadhar with registration of taxpayers under GST and examine the possibility of making Aadhar mandatory for claiming refunds. 11. In order to tackle the menace of fake invoices and fraudulent refunds, in principle decision to prescribe reasonable restrictions on passing of credit by risky taxpayers including risky new taxpayers. Note: The recommendations of the GST Council have been presented in this release in simple language only for immediate information of all stakeholders. The same would be given effect through relevant Circulars/Notifications which alone shall have the force of law. *****

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44 31-08-2019

Notification No. 41/2019 dated 31-08-2019 - Central Tax

Seeks to waive the late fees in certain cases for the month of July, 2019 for FORM GSTR-1 and GSTR-6 provided the said returns are furnished by 20.09.2019.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 41/2019 – Central Tax New Delhi, the 31 st August, 2019 G.S.R. (E).- In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee payable under section 47 of the said Act, by the following class of taxpayers: – (i) the registered persons whose principal place of business is in the district mentioned in column (3) of the Table below, of the State as mentioned in column (2) of the said Table, having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year, who have furnished, electronically through the common portal, details of outward supplies in FORM GSTR-1 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2019, on or before the 20th September, 2019; (ii) the registered persons whose principal place of business is in the State of Jammu and Kashmir, having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year, who have furnished, electronically through the common portal, details of outward supplies in FORM GSTR-1 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2019, on or before the 20th September, 2019; (iii)the Input Service Distributors whose principal place of business is in the district mentioned in column (3) of the above said Table, of the State as mentioned in column (2) of the said Table, who have furnished, electronically through the common portal, return in FORM GSTR-6 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2019, on or before the 20th September, 2019; (iv)the Input Service Distributors whose principal place of business is in the State of Jammu and Kashmir, who have furnished, electronically through the common portal, return in FORM GSTR-6 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2019, on or before the 20th September, 2019. Table Sl. No. Name of State Name of District (1) (2) (3) 1. Bihar Araria, Kishanganj, Madhubani, East Champaran, Sitamarhi, Sheohar, Supaul, Darbhanga, Muzaffarpur, Saharsa, Katihar, Purnia, West Champaran. 2. Gujarat Vadodara. 3. Karnataka Bagalkot, Ballari, Belagavi, Chamarajanagar, Chikkamagalur, Dakshina Kannada, Davanagere, Dharwad, Gadag, Hassan, Haveri, Kalaburagi, Kodagu, Koppal, Mandya, Mysuru, Raichur, Shivamogga, Udupi, Uttara Kannada, Vijayapura, Yadgir. 4. Kerala Idukki, Malappuram, Wayanad, Kozhikode. 5. Maharashtra Kolhapur, Sangli, Satara, Ratnagiri, Sindhudurg, Palghar, Nashik, Ahmednagar. 6. Odisha Balangir, Sonepur, Kalahandi, Nuapada, Koraput, Malkangiri, Rayagada, Nawarangpur. 7. Uttarakhand Uttarkashi and Chamoli [F. No. 20/06/07/2019-GST] (Ruchi Bisht) Under Secretary to the Government of India

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45 31-08-2019

Notification No. 40/2019 dated 31-08-2019 - Central Tax

Seeks to extend the last date in certain cases for furnishing GSTR-7 for the month of July, 2019.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 40/2019 – Central Tax New Delhi, the 31st August, 2019 G.S.R. .....(E).— In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Commissioner hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 26/2019-Central Tax, dated the 28 th June, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 452(E), dated the 28 th June, 2019, namely: - In the said notification, after the portion beginning with the words “except as respects things done” and ending with the words, figures and letters “for the months of October, 2018 to July, 2019 till the 31st day of August, 2019”, the following provisos shall be inserted, namely: – “Provided that the return by a registered person, required to deduct tax at source under the provisions of section 51 of the said Act in FORM GSTR-7 of the Central Goods and Services Tax Rules, 2017 under sub-section (3) of section 39 of the said Act read with rule 66 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2019, whose principal place of business is in the district mentioned in column (3) of the Table below, of the State as mentioned in column (2) of the said Table, shall be furnished electronically through the common portal, on or before the 20th September, 2019:– Table Sl. No. Name of State Name of District (1) (2) (3) 1. Bihar Araria, Kishanganj, Madhubani, East Champaran, Sitamarhi, Sheohar, Supaul, Darbhanga, Muzaffarpur, Saharsa, Katihar, Purnia, West Champaran. 2 Gujarat Vadodara. 3 Karnataka Bagalkot, Ballari, Belagavi, Chamarajanagar, Chikkamagalur, Dakshina Kannada, Davanagere, Dharwad, Gadag, Hassan, Haveri, Kalaburagi, Kodagu, Koppal, Mandya, Mysuru, Raichur, Shivamogga, Udupi, Uttara Kannada, Vijayapura, Yadgir. 4 Kerala Idukki, Malappuram, Wayanad, Kozhikode. 5 Maharashtra Kolhapur, Sangli, Satara, Ratnagiri, Sindhudurg, Palghar, Nashik, Ahmednagar. 6. Odisha Balangir, Sonepur, Kalahandi, Nuapada, Koraput, Malkangiri, Rayagada, Nawarangpur. 7 Uttarakhand Uttarkashi and Chamoli: Provided further that the return by a registered person, required to deduct tax at source under the provisions of section 51 of the said Act in FORM GSTR-7 of the Central Goods and Services Tax Rules, 2017 under sub-section (3) of section 39 of the said Act read with rule 66 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2019, whose principal place of business is in the State of Jammu and Kashmir shall be furnished electronically through the common portal, on or before the 20th September, 2019.”. [F. No. 20/06/07/2019-GST] (Ruchi Bisht) Under Secretary to the Government of India Note: - The principal notification No. 26/2019- Central Tax, dated the 28th June, 2019 was published in the Gazette of India, Extraordinary, vide number G.S.R. 452(E), dated the 28th June, 2019.

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46 31-08-2019

Notification No. 39/2019 dated 31-08-2019 - Central Tax

Seeks to bring Section 103 of the Finance (No. 2) Act, 2019 in to force.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 39/2019 – Central Tax New Delhi, the 31 st August, 2019 G.S.R. ….(E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of September, 2019, as the date on which the provisions of section 103 the said Act, shall come into force. [F. No. 20/06/12/2018-GST] (Ruchi Bisht) Under Secretary to the Government of India

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47 31-08-2019

Notification No. 38/2019 dated 31-08-2019 - Central Tax

Seeks to waive filing of FORM ITC-04 for F.Y. 2017-18 & 2018-19.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 38/2019 – Central Tax New Delhi, the 31 st August, 2019 G.S.R......(E).— In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby notifies the registered persons required to furnish the details of challans in FORM ITC-04 under sub-rule (3) of rule 45 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), read with section 143 of the said Act, as the class of registered persons who shall follow the special procedure such that the said persons shall not be required to furnish FORM ITC-04 under subrule (3) of rule 45 of the said rules for the period July, 2017 to March, 2019: Provided that the said persons shall furnish the details of all the challans in respect of goods dispatched to a job worker in the period July, 2017 to March, 2019 but not received from a job worker or not supplied from the place of business of the job worker as on the 31st March, 2019, in serial number 4 of FORM ITC-04 for the quarter April-June, 2019. [F. No. 20/06/09/2019-GST] (Ruchi Bisht) Under Secretary to the Government of India

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48 26-08-2019

Removal of Difficulty Order No. 7/2019 dated 26-08-2019 - Central Tax

Seeks to remove difficulties regarding filing of Annual returns by extending the due date for filing of Annual return / Reconciliation Statement for the Financial year 2017-18 in FORMs GSTR-9, GSTR-9A and GSTR-9C to 30th November, 2019.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (ii)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Order No. 7/2019-Central Tax New Delhi, the 26th August, 2019 S.O.(E).––WHEREAS, sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this Order referred to as the said Act) provides that every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or before the thirty-first day of December following the end of such financial year; AND WHEREAS, for the purpose of furnishing of the annual return electronically for every financial year as referred to in sub-section (1) of section 44 of the said Act, certain technical problems are being faced by the taxpayers as a result whereof, the said annual return for the period from the 1st July, 2017 to the 31st March, 2018 could not be furnished by the registered persons, as referred to in the said sub-section (1) and because of that, certain difficulties have arisen in giving effect to the provisions of the said section. NOW, THEREFORE, in exercise of the powers conferred by section 172 of the Central Goods and Services Tax Act, 2017, the Central Government, on recommendations of the Council, hereby makes the following Order, to remove the difficulties, namely:–– 1. Short title.––This Order may be called the Central Goods and Services Tax (Seventh Removal of Difficulties) Order, 2019. 2. In section 44 of the Central Goods and Services Tax Act, 2017, in the Explanation, for the figures, letters and word “31st August, 2019”, the figures, letters and word “30 th November, 2019” shall be substituted. [F.No.20/06/07/2019-GST] (Ruchi Bisht) Under Secretary to the Government of India

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49 26-08-2019

Press Release No. 31 dated 26-08-2019 - Central Tax

Extension of Due Date to 30th November, 2019 for furnishing Annual Return and Reconciliation Statement for FY 2017-18

Press Release Subject:- Extension of Due Date to 30th November, 2019 for furnishing ‘Annual Return and Reconciliation Statement’ for FY 2017-18 It is hereby informed that the last date for furnishing of Annual Return in the FORM GSTR-9 / FORM GSTR-9A and Reconciliation Statement in the FORM GSTR-9C for the Financial Year 2017-18 is extended from 31st August, 2019 to 30th November, 2019. *****

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50 22-08-2019

Press Release No. 29 dated 22-08-2019 - Central Tax

Legacy Dispute Resolution Scheme, 2019

Press Release In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas - Legacy Dispute Resolution Scheme, 2019. The Scheme has now been notified and will be operationalized from 1st September 2019. The Scheme would continue till 31st December 2019. Government expects the Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service Tax and Central Excise cases that are now subsumed under GST so they can focus on GST. The two main components of the Scheme are dispute resolution and amnesty. The dispute resolution component is aimed at liquidating the legacy cases of Central Excise and Service Tax that are subsumed in GST and are pending in litigation at various forums. The amnesty component of the Scheme offers an opportunity to the taxpayers to pay the outstanding tax and be free of any other consequence under the law. The most attractive aspect of the Scheme is that it provides substantial relief in the tax dues for all categories of cases as well as full waiver of interest, fine, penalty, In all these cases, there would be no other liability of interest, fine or penalty. There is also a complete amnesty from prosecution. For all the cases pending in adjudication or appeal – in any forum - this Scheme offers a relief of 70% from the duty demand if it is Rs.50 lakhs or less and 50% if it is more than Rs. 50 lakhs. The same relief is available for cases under investigation and audit where the duty involved is quantified and communicated to the party or admitted by him in a statement on or before 30th June, 2019. Further, in cases of confirmed duty demand, where there is no appeal pending, the relief offered is 60% of the confirmed duty amount if the same is Rs. 50 lakhs or less and it is 40%, if the confirmed duty amount is more than Rs. 50 lakhs. Finally, in cases of voluntary disclosure, the person availing the Scheme will have to pay only the full amount of disclosed duty. As the objective of the Scheme is to free as large a segment of the taxpayers from the legacy taxes as possible, the relief given thereunder is substantial. The Scheme is especially tailored to free the large number of small taxpayers of their pending disputes with the tax administration. Government urges the taxpayers and all concerned to avail the Sabka Vishwas - Legacy Dispute Resolution Scheme, 2019 and make a new beginning.

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