GST Council in the 37th meeting held on September 20, 2019 at Goa took the following decisions relating to changes in GST rates, ITC eligibility criteria, exemptions and clarifications on connected issues.
GST Council meeting outcome:
1. Hotel Tariffs Rs. 7,500 and above GST at 18%.
2. Hotel Tariffs Rs. 1,000 upto 7,500 GST at 12%.
3. Hotel Tariffs below Rs. 1,000 GST at Nil rate.
4. Outside Catering GST rate reduced to 5%.
5. Diamond Job-work GST rate reduced to 1.5% and Other Job-work GST rate reduced to 12% from 18%.
6. Council amended rules regarding Refund by Appellate Authority.
7. Council amended rules regarding GST Practitioners and Consumer Welfare Fund.
8. Cups/Plates made from Flowers leaves GST rate Nil from earlier 5%.
9. GST Annual Returns GSTR-9, 9A Optional for those with turnover upto Rs 2cr for FY 17-18 & 18-19.
10. Those with turnover above Rs 2cr to still file GSTR-9.
11. No relief in case of GSTR-9C as it’s applicable only where turnover exceeds Rs 2cr.
12. GSTR-9 also to be made “Saral”.
These are much needed steps to boost trade and industry and hopefully it revives the economy also. GST as of now has become a pain and hopefully we will be able to remove the pain through these small required steps.