36th GST Council Meeting Updates

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36th GST Council Meeting Updates

36th GST Council Meeting was held on 27th July 2019. It was postponed from its scheduled date of 25th July 2019 due to the busy schedule of the Finance Minister Nirmala Sitharaman. It was the second GST Council Meeting after she assumed the Office as Finance Minister. A few of the decisions which are taken in today’s meeting were hinted in the Union Budget 2019. Two GST Council meeting back to back in less than 40 days. The last GST Council Meeting i.e. 35th Meeting which was held on 21st June 2019. GST Council comprises of Union Finance Ministers and State Finance Ministers which is the federal decision-making body for the matters of GST.

Meeting36th GST Council Meeting
Date Thursday, 27th July 2019
ChairpersonFinance Minister Nirmala Sitharaman Via Video Conferencing
VenueVigyan Bhawan, New Delhi
AttendeesFinance Ministers of all the states

Major outcomes from 36th GST Council Meeting held are (Click here to see the press release for the same)

⊗ Electric Vehicle & Chargers

GST rates for electric vehicle will be reduced from 12% to 5% with effect from 1st August 2019.

GST rates for on chargers or charging stations will be reduced from 18% to 5% with effect from 1st August 2019.

The hiring of Electric Buses by local authorities will be exempted from GST. The carrying capacity of buses should be more than 12 passengers.

HSN codeDescription of goodsCurrent GST Rate (%)Reduced GST Rate (w.e.f-01.08.19 )
87Electrically operated vehicles, including two
and three-wheeled electric motor vehicles
12% 

5%

85044030Charger for Electric Vehicle18%5%

Deductions in respect of loan taken for purchasing an electric vehicle under income tax act.

 

⊗ Due date for FORM CMP 08 Extended till 31st Aug 19

The due date for FORM CMP 08 has been extended by one month. Due date has been extended till 31st August 19, as the Form was not available on the GSTN portal for the taxpayers till 27th July 2019. The form is now available for payment.

⊗ Last date for FORM CMP 02 Extended till 30th Sep 19

A registered service provider who wants to shift from a regular scheme to the composition scheme of GST had to file an intimation for change in registration in  FORM GST CMP-02.  The due date to file this has been extended from 31st July 19 to 30th Sep 19. (Click here to read the detailed procedure).

Note: Notification/Circular for the same is awaited and the same shall be effective only after that.



The article is compiled by CA Ankita Khetan. If you have any queries concerning the above article. Please write to us either in the comments section below or email us on info.financepost@gmail.com.

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