Key Decisions taken in GST Council 36th Meeting. electric vehicles rate reduced. CMP-02 date extended

Key Decisions taken in GST Council 36th Meeting
 
GST rate on all Electric Vehicles reduced from 12% to 5% and of charger or charging stations for EVs from 18% to 5%
 
Hiring of electric buses by local authorities exempted from GST Changes in GST rates shall be effective from 1st August, 2019
 
The 36th GST Council Meeting was held here today Via Video Conference under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Revenue Secretary Shri Ajay Bhushan Pandey and other senior officials of the Ministry of Finance.
 
The Council has recommended the following:
 

A. GST rate related changes on supply of goods and services

(i) The GST rate on all electric vehicles be reduced from 12% to 5%.

(ii) The GST rate on charger or charging stations for Electric vehicles be reduced from 18% to 5%.

Notification No. 12/2019-Central Tax (Rate) issued for reduction of rates for electric Vehicles Click Here >>

(iii) Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities be exempted from GST. Notification No.13/2019- Central Tax (Rate) dated 31.07.2019 issued in this regard Click Here >>

These changes shall become effective from 1st August, 2019.

B. Changes in GST law:

(i) Last date for filing of intimation, in FORM GST CMP-02, for availing the option of payment of tax under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 (by exclusive supplier of services), to be extended from 31.07.2019 to 30.09.2019.

(ii) The last date for furnishing statement containing the details of the self-assessed tax in FORM GST CMP-08 for the quarter April, 2019 to June, 2019 (by taxpayers under composition scheme), to be extended from 31.07.2019 to 31.08.2019. (Notification No. 35/2019-Central Tax dated 29.07.2019 issued)

(Note: The recommendations of the GST Council have been presented in this release in simple language for information of all stakeholders. The same would be given effect through relevant Circulars/Notifications which alone shall have the force of law.)

DSM/RM/HP
(Release ID :192337)

read latest abcaus posts

Read by Tags abcaus posts

addition u/s 68 budget 2017-18 ca misconduct cash deposit in bank CBDT cbdt circular CBDT Instruction cbdt notification cbdt order cbdt press release cgst notification cit revision 263 concealment penalty custom circular demonetisation due date extension e-way bill faq GST circular GST Clarification GST Council Meeting gst faq GSTR-3B GST rates gst refund IBBI icai income tax prosecution itat ITAT Delhi mca circular MCA notification order u/s 119 penalty 271(1)(c) penalty u/s 271(1)(c) Press Release reasons recorded reopening 148 Reopening us 147 sebi circular service tax notification transfer and postings unexplained cash credits validity of notice u/s 148 Withdrawal of 2000 500 Bank Notes

----------- Similar Posts: -----------

Leave a Reply

Subscribe to ABCAUS Newsletter

Get reliable, authentic and latest updates on taxation/corporate and other laws in your mail box free.



After subscribing, please check your email (including spam or junk folder) and activate the subscription link by clicking it.