Policy Changes recommended by the 25th GST Council Meeting
- Reduction in late fee on GST return :-
Late fee is now Rs. 50 per day for FORM GSTR-1 (supply details), FORM GSTR-5 (Non-resident taxable person) or FORM GSTR-5A (OIDAR)
In case of NIL return Late fee is Rs. 20 per day.
For FORM GSTR-6 (Input Service Distributor) late would be Rs. 50 per day.
- Cancelation of Voluntary registration even before expiry of 1 year.
- Taxpayer, migrated, cancelation period extended upto 31/03/2018.
- Eway bill website implemented on trail basis.
- Recommendations Given by the Committee on Handicrafts were also accepted by the GST Council.