GST Council relaxes return filing rules for July, August, strict adherence from September

New Delhi: The GST Council today revised and relaxed return filing rules for businesses for the first two months of the roll out of the new indirect tax regime even as it stuck to the July 1 launch date. For July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.From September, strict adherence to time will go on, said finance minister Arun Jaitley.

The official launch of the goods and services tax (GST) is slated for midnight of June 30 and July 1.

In relief for AC hotels, the Council decided to raise the threshold for the 28 per cent tax to RS 7,500 from Rs 5,000 at present. This would mean that an 18 per cent GST will be levied on bills of Rs 2,500-7,500.

Jaitley said that the council will hold further consultation on e-way bills, till then an alternative or transient rule will prevail.

The Council decided to tax lotteries in two segments – with state-run ones attracting 12 per cent GST and the state-authorised 28 per cent.

Additionally, it has cleared six rules, including anti-profiteering. “I hope we are not compelled to use it (anti- profiteering),” Jaitley added.