31st GST Council Meeting was held on 22nd December 2018. Major recommendations made were as follows:
- The new return filing system to be introduced on a trial basis from 01.04.2019 and on mandatory basis from 01.07.2019.
- The due date for furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial Year 2017 – 2018 to be further extended till 30.06.2019.
- The due date for furnishing FORM GSTR-8 by e-commerce operators for the months of October, November and December, 2018 to be extended till 31.01.2019.
- ITC in relation to invoices issued by the supplier during FY 2017-18 may be availed by the recipient till the due date for furnishing of FORM GSTR-3B for the month of March, 2019.
- Taxpayers who have not filed the returns for two consecutive tax periods shall be restricted from generating e-way bills.
- Taxation of residential property in real estate sector has been referred to the Law Committee and Fitment Committee.
- http://cbic.gov.in/resources//htdocs-cbec/press-release/PressRelease_Goods-rates_%2031-GST-Meeting-22122018.pdf;jsessionid=6569BE3495D0811E6C49ED741A00B2D0
- http://cbic.gov.in/resources//htdocs-cbec/press-release/22181222_Press%20Release_31st%20GST%20Council%20Policy.pdf;jsessionid=2988F02337060E88934E0C84FCA722C7