New Delhi, June 21: The last date of filling Goods and Services Tax (GST) annual returns has been extended by two months. The GST Council on Friday extended the date from June 30 to August 30. Revenue Secretary Ajay Bhushan Pandey said that the extension in the date was made after receiving representations from trade and business that they need more time. 31st GST Council Review Meet Ends; Finance Ministry Reduces Tax on 33 Items, New Rates to be Effective From January 1.

Pandey said, “Last day for filing of annual returns was 30 June 2019, we had received representations from trade and business that they need more time as they'll be filing returns for the 1st time. GST council has extended the date. So now they'll be filed by 30 August, 2019.” 27th GST Council Meeting: Finance Minister Arun Jaitley Says GST Network to be Wholly Owned by Government.

Dealers with turnover upto Rs five Crore will be filing quarterly and those above Rs five crore will be filing monthly returns. Pandey also stated, “Composition scheme for service providers, a decision which was taken in GST Council a few months back and done through a notification will be made a part of the law.”

ANI's Tweet:

In the GST meeting headed by Finance Minister Nirmala Sitharaman, the decision was also taken to raise GST registration limit threshold limit from Rs 20 Lakh to Rs 40 Lakh. “Earlier, it was done through notification, now appropriate changes have been made in the laws,” said the revenue secretary. GST Council Likely To Simplify Tax Returns In Its 26th Meeting On March 10

Ajay Bhushan Pandey's statement:

The ministry has also eased the process of GST registration. Pandey said, “In the earlier system, people had to give various documents. Now we have decided to use Aadhaar. By using Aadhaar several advantages will occur to the business.”

Ajay Bhushan Pandey's statement:

The 35th GST Council Meeting was held in New Delhi on June 21 under the chairmanship of the Union Finance and Corporate Affairs Minister. This was the first meeting of the Council after the swearing in of the new Government. The meeting was also attended by Union Minister of State for Finance and Corporate Affairs Anurag Thakur besides the Revenue Secretary and other senior officials of the Ministry of Finance. Chief ministers of all the states except Karnataka, Mizoram and Telangana were present at the meeting. Sitharaman, however, spoke to all the three Chief Ministers last evening.

(The above story first appeared on LatestLY on Jun 21, 2019 08:44 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).