31st GST Council meeting will be held today

by EDITOR · December 22, 2018

31st GST Council meeting will be held today to discuss issues related to ease of filing of returns, refund processes and cutting GST rates on some items.

*WHISPERS – Under active consideration in GST Council meet –

• *Postponement of GSTR-9 & GSTR-9C*

• *Good news for builders*

• *Time to correct mismatches between the GSTR-1 and GSTR-3B on the GSTN portal*

• *Waiver or part reduction of some penalties*

• *Rationalization of Cash Ledger procedure by reduction of heads*

• *Blocking of e-Way Bill facility of not non-filers*

• *Reduction of tax rates on select items*

Not immediately but steps to reduce litigation and writs such as to allow ITC on invoices or debit notes of 2017-18 u/s 16(4) till March 31, 2019. Some of these may be decided this time but deferred till next meeting in January.