GST Council: States not staring at financial emergency, asks Infy to fix glitches by June

It also decided to extend the deadline for filing the GST9R and GSTR9C for FY19 till June 30.

The GST Council on March 14 said that states are not staring at a financial emergency. This comes in the backdrop of constant complaints from states that the lower compensation was impacting their finances. However, the Council said it had granted over Rs 1.2 lakh crore in compensation to states.

Addressing a major bugbear of the industry, the Council asked Infosys to fix glitches in the GST Network (GSTN) by June. It asked Infosys and Tech Mahindra to coordinate better to speedily address taxpayers' concerns.

The Council decided to make GSTR-1 compulsory only for B2B supplies and exports. B2C and non-filers of GSTR-3B will be exempted from filing GSTR-1.

It also decided to extend the deadline for filing the GST9R and GSTR9C for FY19 till June 30.

The Goods & Services Tax (GST) rate on all kinds of match boxes will now be 12 percent.

But consumers will be definitely hit by the hike in GST on mobile phones to 18 percent from 12 percent.

The domestic maintenance, repair and overhaul (MRO) service providers have reason to cheer as as the Council cut the slab rate to 5 percent from 18 percent.

The Council deferred the proposal of hiking the rates on fertilisers and footwear due to the current economic slowdown and impact of the novel coronavirus pandemic.

It also decided to defer the proposal of rate rationalisation on textiles.

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