26th GST Council Meeting : Agenda and Minutes : Download
26th GST Council Meeting held on 10th March 2018 at Vigyan Bhawan, New Delhi.
Agenda of 26th GST Council Meeting
Agenda of 26th GST Council meeting includes
- Detailed Agenda Note – 26th GSTCM
- Additional Agenda Items – 26th GSTCM
- Table Agenda – Agenda Item 14(iv)
Detailed Agenda Note – 26th GSTCM
Additional Agenda Items – 26th GSTCM
Table Agenda – Agenda Item 14(iv)
Minutes of Meeting of 26th GST Council Meeting
Minutes of Meeting of 26th GST Council Meeting released by Govt.
Press Release on 26th GST Council Meeting
Recommendations made during the 26th meeting of the GST Council held in New Delhi on 10th March, 2018
- Press Note Data Analytics
- Press Note E way bill
- Press Note Return RCM TDS /Press Release regarding Policy Change
- Press Release exporter extension 10 March 2018 v1.0
Press Note Data Analytics
Refer 26th meeting of GST Council : Recommendations regarding Data Analytics
Press Note E way bill
Refer 26th GST Council Meeting recommendation on E-way Bill
Press Note Return RCM TDS
Press Release regarding Policy Changes : March 10, 2018
Recommendations made during the 26th meeting of the GST Council held in New Delhi on 10th March, 2018
I. Return filing System
The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.
II. Reverse charge mechanism
The liability to pay tax on reverse charge basis has been deferred till 30.06.2018. In the meantime, a Group of Ministers will look into the modalities of its implementation to ensure that no inconvenience is caused to the trade and industry.
III. TDS/TCS
The provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act shall remain suspended till 30.06.2018. In the meantime, the modalities of linking State and Central Governments accounting system with GSTN will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source.
IV. Grievance Redressal Mechanism
GST implementation Committee (GIC) has been tasked with the work of redressing the grievances caused to the taxpayers arising out of IT glitches.
Press Release exporter extension 10 March 2018 v1.0
Refer 26th Meeting of the GST Council : Extension of tax exemptions for exporters for six months
Key Highlights of 26th GST Council Meeting
- FM
@arunjaitley 26th GST Council Meeting said that existing system of filing returns has been extended for another 3 months and meanwhile, GOM on the IT will look into it & consult tax experts among others. - GST Council also agreed today to:
(a) Defer the implementation of the e-Wallet scheme by 6 months i.e., upto 01.10.2018; and
(b)Extend the present dispensation in terms of exemptions etc. which is available up to 31.03.2018, for a further 6 months i.e., upto 01.10.2018.
- Domestic procurement made under Advance Authorization, EPCG and EOU Schemes were recognized as ‘deemed exports’ with flexibility for either the suppliers or the exporters being able to claim a refund of GST/IGST paid thereon. All these avenues were made available upto 31.03.2018.
- For merchant exporters a Special Scheme of payment of GST @ 0.1% on their procured goods was introduced.
- Thereafter, the GST Council directed GSTN to expeditiously forward the balance refund claims to the Customs/Central GST/State GST authorities, as the case may be, for their immediate sanction and disbursal.
- In a related development which would benefit the exporters, the GST Council reviewed the progress in grant of refunds to exports of both IGST and Input Tax Credit. The Council appreciated that the pace of grant of IGST refund has picked up.
- Thus, exporters presently availing various Export Promotion Schemes can now continue to avail such exemptions on their imports up to 1st October,2018, by which time an e-Wallet Scheme is expected to be in place to continue the benefits in future.
- GST Council in its 26th Meeting held under the Chairmanship of the Union FM, Shri
@arunjaitley today in New Delhi sent a strong positive signal to exporting community by deciding to extend the available tax exemptions on imported goods for further 6 months beyond 31st March,2018. - A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.
- Another major recommendation of the Council include deferment of the liability to pay tax on reverse charge basis till 30.06.2018. Meantime, a Group of Ministers will look into the modalities of its implementation to ensure that no inconvenience is caused to the trade & industry.
- Another major recommendation of the GST Council was relating to Grievance Redressal Mechanism.The GST Council in its 26th Meeting today tasked the GST implementation Committee (GIC) with the work of redressing the grievances caused to the taxpayers arising-out of IT glitches.
Press Conference by Sh Arun jaitely After 26th GST Council Meeting
Video- 26th GST Council Meeting: Arun Jaitely Press Conference
Video by TAXHEAL on 26th GST Council Meeting
Video; 26th GST Council Meeting Decisions 10.03.2018 : GST News [Part 187 ] : TaxHeal.com