Highlights of 37th GST Council meeting

The  37th GST Council meeting was held on 20th September 2019 to address some crucial issues and provide their recommendations.

Following are key highlights of the GST Council Meeting:

  1. Recommended reductions in GST rate of certain goods and services w.e.f. 01st October 2019.
  2. Extended exemption to some additional goods and services w.e.f. 01st October 2019.
  3. Filing of annual return for F.Y.2017-18 & 2018-19 made optional for taxpayer having aggregate turnover upto Rs.2 Crores.
  4. Constitution of committee for further simplification of annual return and reconciliation statement.
  5. Implementation of new return filing system has been deferred to April 2020.

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