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