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
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
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.
List of Expected Decisions from 37th GST council meeting
- 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.
- 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.
- Taxpayers may also expect tax reductions on Biscuits and other fast-moving consumer goods.
- GST council may take more steps to increase the revenue and tax evasion from GST.
- 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
Frequently Asked Questions
The 37th GST Council meeting will be held on 20th September 2019.
The meeting will be held in the state of Goa.
The meeting will be held in the month of September 2019.
There is no official agenda yet declared.
You can find all notifications, press release from GST notification page.
You can find it on GST council meeting date wise list page.
You may see GST India News home page on 20th September 2019 to see the live updates of this meeting.
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