Summary of 36th GST Council Meeting held on 27 July

The GST Council chaired by Finance Minister Nirmala Sitharaman meet for the 36^th time on 27^th July via video-conferencing. The meeting was proposed to be held on 25^th July, 2019 but postponed to 27^th July, 2019.

GST and Demonetization Destroyed Economy, is it True?

The following is summarized from the GST Council meet:

• The GST rate on all electric vehicles (EVs) has been reduced from 12 per cent to 5 per cent.
• The tax rate on chargers or charging stations for EVs has been slashed from 18 per cent to 5 per cent.
• The council also approved GST exemption for hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities from August 1, the statement said.
• The new Goods and Services Tax (GST) rate on EVs will be effective from August 1.

How to prepare invoice in Goods and Service Tax era?

It also took certain decisions regarding changes in GST law which are as follows:-.

• The last date for filing of intimation, in Form GST CMP-02, for availing the option of payment of tax (by exclusive supplier of services) has been extended from July 31 to September 30.
• The last date for furnishing statement containing the details of the self-assessed tax in Form GST CMP-08 for the June quarter (by taxpayers under composition scheme) has been extended to August 31. The earlier deadline was July 31, 2019.

The notification for the same is produced below:

36th GST Council Meeting, New Delhi

27th July, 2019

 PRESS RELEASE

In the meeting held today, that is 27th July, 2019, the Council has recommended :-

1. Reduction in the GST rate on supply of goods and services :

• The GST rate on all electric vehicles be reduced from 12% to 5%.
• The GST rate on charger or charging stations for Electric vehicles be reduced from 18% to 5%.
• Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities be exempted from GST.
• These changes shall become effective from 1st August,

2. Changes in GST law:

• 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 (by exclusive supplier of services), to be extended from 31.07.2019 to 30.09.2019.
• The last date for furnishing statement containing the details of the self-assessed tax in FORM GST CMP-08 for the quarter April, 2019 to June, 2019 (by taxpayers under composition scheme), to be extended from 31.07.2019 to 08.2019.

(Note: The recommendations of the GST Council have been presented in this release in simple language for information of all stakeholders. The same would be given effect through relevant Circulars/Notifications which alone shall have the force of law.)