The 36th GST Council Meeting has been held by means of Video Conference under the chairmanship of Union Finance and Corporate Affairs Minister Nirmala Sitharaman. The GST Council Meeting was also attended by the Union Minister of State for Finance and Corporate Affairs Anurag Thakur besides Revenue Secretary Ajay Bhushan Pandey as well as other senior officials of the Ministry of Finance.
The Council has suggested the following:
A). GST rate relating to changes in the supply of goods and services:
• The rate of GST on every electric vehicle is lessened from 12% to 5%.
• The rate of GST on charger or charging stations for Electric vehicles is lessened from 18% to 5%.
• The hiring of electric buses (carrying capacity of above 12 passengers) through local authorities is exempted from GST.
These changes would become effective from 1st August 2019.
B). Changes in GST law:
• The last date for filing of intimation, in FORM GST CMP-02, for availing the option of payment of tax under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 (through the exclusive supplier of services), shall be extended from 31.07.2019 to 30.09.2019.
• The last date for furnishing statement containing the particulars of the self-assessed tax in FORM GST CMP-08 for the quarter April 2019 to June 2019, through individuals under composition scheme, would be extended from 31st July 2019 to 31st August 2019.
Finance Minister Nirmala Sitharaman
Nirmala Sitharaman, who served as the full-time Defence Minister of India in the Narendra Modi government from September 2017 to May 2019, has been appointed as the new finance minister in this 2nd term of the Modi Government. Union Finance Minister Nirmala Sitharaman had made her maiden budget of the Modi 2.0 Government in the Lok Sabha on July 5, 2019, in the Parliament, announced several sops for various sectors.
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