GST Council recommends relaxation in filing of annual returns for MSMEs

The 37th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman here recently, has recommended relaxation in the filing of annual returns for Micro Small and Medium Enterprises (MSMEs) for Financial Year 2017-18 and Financial Year 2018-19.

Similarly, it has decided to extend the last date for filing of appeal against orders of Appellate Authority before the GST Appellate Tribunal as the Appellate Tribunal is yet not functional, an official release said on Wednesday.

The new GST return system is now to be introduced from April 2020. With this, several transitional issues that could crop up while implementing in the middle of the year can now be avoided. Taxpayers can begin on a fresh note from a new financial year.

The meeting was also attended by Minister of State for Finance Anurag Thakur, Chief Minister Pramod Sawant, besides Minister for Transport and Panchayat Mauvin Godinho who is nominated a member of Goa for GST Council.

They were among other delegates which included finance minister of states and N K Singh, Chairman, Fifteenth Finance Commission.