GST Council extends anti-profiteering authority's tenure by two years, sends rate cut on EVs to fitment panel

The all-powerful GST Council on Friday extended the tenure of the anti-profiteering authority by two years and approved imposing a penalty of up to 10 percent on entities not passing on benefits of GST rate cuts to consumers

Press Trust of India June 21, 2019 19:08:38 IST
GST Council extends anti-profiteering authority's tenure by two years, sends rate cut on EVs to fitment panel
  • GST Council extended the date for filing annual returns under the Goods and Services Tax (GST) regime by two months to 30 August

  • It also approved an electronic invoicing system and e-ticketing in multiplexes

  • The tenure of National Anti-Profiteering Authority (NAA) has been extended by two years till 30 November, 2021

New Delhi: The all-powerful GST Council on Friday extended the tenure of the anti-profiteering authority by two years and approved imposing a penalty of up to 10 percent on entities not passing on benefits of GST rate cuts to consumers.

Briefing reporters after the 35th meeting of the Council, Revenue Secretary A B Pandey said it has been decided to allow the use of Aadhaar by businesses to register with GST-Network.

GST Council extends antiprofiteering authoritys tenure by two years sends rate cut on EVs to fitment panel

Finance minister Nirmala Sitharaman at 35th GST Council meeting. Image courtesy-FinMin

Also, it extended the date for filing annual returns under the Goods and Services Tax (GST) regime by two months to 30 August, he said, adding the one-form new GST return filing system will be applicable from 1 January, 2020.

The Council, which is headed by the Union Finance Minister and comprises representatives of all states and UTs, also approved an electronic invoicing system and e-ticketing in multiplexes.

Pandey said the proposal to reduce GST rate on EVs to 5 percent from the current 12 percent and that on the electric charger to 12 percent from 18 percent to the fitment committee for fine-tuning.

The tenure of National Anti-Profiteering Authority (NAA) has been extended by two years till 30 November, 2021.

Soon after the GST was rolled out from 1 July, 2017, the government had approved setting up the NAA for two years to deal with complaints by consumers against companies for not passing on GST rate cut benefits.

The NAA came into existence on 30 November, 2017, after its Chairman B N Sharma assumed charge. So far, the NAA has passed 67 orders in various cases and complaints still keep coming in.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Parliament Updates: Lok Sabha likely to adjourn sine die tomorrow, says PTI
Politics

Parliament Updates: Lok Sabha likely to adjourn sine die tomorrow, says PTI

Parliament LIVE Updates: Speaker Om Birla has extended the Lok Sabha proceedings till 10 pm today. The House is taking up the Zero Hour now

LS passes FCRA bill, Opposition claims Centre acting as 'Big Brother'; eight RS MPs suspended over farm bills row
Politics

LS passes FCRA bill, Opposition claims Centre acting as 'Big Brother'; eight RS MPs suspended over farm bills row

The draft law seeks to make it mandatory for officer-bearers of NGOS to provide Aadhar numbers at the time of registration and also to bar public servants from receiving foreign funds.

Parliament Monsoon Session: Centre, Oppn trade fire on PM CARES Fund; RS passes bill to punish attacks on health workers
India

Parliament Monsoon Session: Centre, Oppn trade fire on PM CARES Fund; RS passes bill to punish attacks on health workers

In the Lok Sabha, Opposition MPs of the Congress, DMK, TMC, and others opposed the PM CARES Fund, alleging that it lacked transparency