GST updates

On recommendations of the GST Council, the Commissioner hereby extends the period for submitting the declaration in FORM GST TRAN-1 till 31st March, 2019, for the class of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and whose cases have been recommended by the Council. [Source: Order No. 01/2019-GST dated 31st January, 2019]

The Central Government, on recommendations of the GST Council, hereby makes the Central Goods and Services Tax (Removal of Difficulties) Order, 2019. It is hereby clarified that the value of supply of exempt services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account – for determining the eligibility for composition scheme under second proviso to sub-section (1)…