Key Decisions of 37th GST Council Meeting held in Goa

The 37th GST council meeting held in Goa on 20.09.2019. Here is the press release of final decisions taken in the said meeting. However, all the decisions will come into force from 1st October 2019. Visit our GST notifications and circulars page to see the latest notifications issued bringing these decisions into effect. All the notifications are issued on 30.09.2019.

GST Rates on Services

GST Rates on Goods

Law & Procedure Decisions

Live Press Conference of 37th GST Council Meeting in Goa

Union Minister of Finance and Corporate affairs Smt. Nirmala Sitharaman addressing Press Conference after GST Council Meeting. Click to Refresh

Top 5 Major Expectations from 37th GST Council Meeting

The 37th GST council meeting date is scheduled to be held in Goa, on 20th September 2019. Thus, the Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman will come down to Goa to chair the 37th GST council meeting.

The previous 36th GST Council meeting was held on 27.07.2019 under the chairmanship of Smt. Nirmala Sitharama. The council took the major decisions like reduction in GST rates on electric vehicles and on its charging stations, Grant of GST exemption, Extension of Return by composite dealers, etc.

In this article, we try to cover the details of some of the major expectations from the GST council for Trade and industry. Thus, the decisions of this meeting will play a crucial role in the upcoming days. It will define the impact on trade and industry, especially in the Automobile sector.

Further, the Goods and Service Tax council meeting decisions are important to deal with current weaker economic growth. Thus, the favorable decision towards the industrial sector may bring the GDP on the normal track again. Here is today’s update from “The Hindu” regarding the current situation of economic growth in India.

India’s economic growth is “much weaker” than expected, according to the #IMF, which attributed it to the corporate and environmental regulatory uncertainty.https://t.co/kMIlHKzDtp

— The Hindu (@the_hindu) September 13, 2019

List of Expected Decisions from 37th GST council meeting

1. GST council may recommend exempting small businesses from filing Annual Return(GSTR 9) for Turnover up to 5 crores. However, small taxpayers are facing issue filing this return as the current limit is 2 crores.
2. The GST council may also lower the GST rate from 28% to 18% to Automobile Sectors. Since more than 6 months this industry is continuously going down. Thus, the automobile sector is currently facing the lowest downtime of this season.
3. Taxpayers may also expect tax reductions on Biscuits and other fast-moving consumer goods.
4. GST council may take more steps to increase the revenue and tax evasion from GST.
5. The council may also make a clear road map to implement New GST Return System i.e GST Anx 1 and ANX2. However, the previous decision was to implement it from October month words.

According to the Economic Times, Road transport and highways minister Shri. Nitin Gadkari has backed calls to lower GST on hybrid and other vehicles.

However, the above is not the final list of the agenda of this meeting. These are the suggestions from the industry on which the GST Council may frame the future policies.

Frequently Asked Questions

Subscribe Newsletters to receive latest GST updates and news in your inbox. GST India News brings to you the official news updates from the official source of information. Similarly, Keep visiting this page to see the recommendations of the GST council in the upcoming meeting.