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.