Key highlights from the 53rd GST Council Meeting

 

1.  Time limit for ITC availment under Section 16(4) to be retrospectively extended till 30th November for FY 2017-18 till FY 2020-21

2. For demand notices issued under Section 73 for FY 2017-18 till FY 2019-20, waiver of interest and penalty if tax paid till 31st March 2025

3. Pre- deposit amount for appeals before appellate authority and GST Tribunal to be reduced

4. Time limit for filing appeal before GST Tribunal to be counted from the date of notification in Official Gazette

5. No interest applicable on amount present in the electronic cash ledger on the due date of filing Form 3B which is debited at the time of filing 3B

6. Insertion of Form GSTR-1A to report additional invoices missed while filing Form GSTR-1 for a tax period

7. Biometric Aadhar authentication to be made effective on PAN India basis

8. Services of railways for sale of tickets, facility of renting of room, cloak rooms, sale of battery operated vehicles etc to be exempt

9. Services of hostel accomodation outside educational institutions for students to be exempt Upto INR 20k per person per month provided continuous stay of 90 days

10. Monetary limit for appeals by department to be notified as INR 20 lakhs, INR 1 Cr and INR 2 Cr before GSTAT, High Court and Supreme Court respectively