"To avoid penalty file your income tax return for the A.Y. 2019-20 on or before the due date. The due date is 31st July 2019"           "Great things never came from comfort zones"           "Wealthy people invest first and spend what’s left and broke people spend first and invest what’s left"           "Good, better, best. Never let it rest. Till your good is better and your better is best"           "Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future"           "You cannot save time for future use, but you can invest it for the future you"           "The secret to getting ahead is getting started.................Start using your Savings to Earn Money"           "The best gift, and investment, you can give your child is your time"           "Investing in your child’s education is never a wasted effort"           "Do something today that your future self will thank you for"



35th GST Council Meeting

The 35th GST Council Meeting was held on 21 June 2019 at New Delhi, chaired by Union Finance Minister, Mrs Nirmala Sitharaman and the following decisions were made as under-
  • GST Council extends the due date for filing Annual Return GSTR 9, 9A & 9C has been extended by two months i.e. 31st August 2019.
  • Form GST ITC 04,relating to job work, the due date for furnishing the said form for the period July, 2017 to June, 2019 has been extended till 31st August 2019.
  • Due date for filing of CMP-02 for opting for composition scheme for service providers as per notification 2/2019-Central Tax (Rate) has been extended till 31st July 2019.
  • GST Council approves an extension of National Anti-profiteering Authority (NAA) by 2 years, while the tenure of National Anti-profiteering Authority (NAA) was due to end by 30 November 2019.
  • GST Council has approved a levy of 10% penalty for delay in depositing the profiteered amount by more than 30 days.
  • GST Council has given a go-ahead to a new system for verification of taxpayers registering themselves under GST, now the Government has decided to use Aadhaar for GST Registration. Once Aadhaar card is submitted no other documents would be required as proof and authentication can also be done using Aadhaar OTP.
  • GST Council approves the proposal of the introduction e-invoicing implemented w.e.f. 01.01.2020. This applies to only B2B invoicing. By this system, no separate e-way bill will be required in case of e-invoice.
  • The GST Council approved the electronic ticketing system, for multiplexes, having multi-screens are required to issue e-tickets.
  • GST Council approves setting of state & area based GST Appellate Tribunal (GSTAT); some states to have more than one GSTAT.


Leave a Reply

Name *
Comments *

© 2019 - Understand Your Income