Procedural Changes Adopted by GST Council

· Late Fee Charges

· Cancellation of GSTIN Allowed Any Time, No Wait from One Year

· Last Date for Registration Cancellation Extended to 31 March 2018

· E-Way Bill Trial Begins

· Inter State Movements to be under E-Way Bill Latest by 1 June 2018

· Handicraft Goods Listed

· Policy Changes Recommended by the 25th GST Council Meeting

The following Policy Changes have been recommended by the GST Council in its 25^thmeeting held on 18 January 2018:

1. The late fee payable by any registered person for failure to furnish FORM GSTR-1 (supply details), FORM GSTR-5 (Non-resident taxable person) or FORM GSTR-5A (OIDAR) is being reduced to fifty rupees per day and shall be twenty rupees per day for NIL filers. The late fee payable for failure to furnish FORM GSTR-6 (Input Service Distributor) shall be fifty rupees per day.

2. Taxable persons who have obtained voluntary registration will now be permitted to apply for cancellation of registration even before the expiry of one year from the effective date of registration.

3. For migrated taxpayers, the last date for filing FORM GST REG-29 for cancellation of registration is being extended by further three months till 31^st March, 2018.

4. The facility for generation, modification and cancellation of e-way bills is being provided on trial basis on the portal ewaybill.nic.in. Once fully operational, the e-way bill system will start functioning on the portal ewaybillgst.gov.in

5. Certain modifications are being made to the e-way bill rules which are to be notified nationwide for inter-State movement with effect from 01.02.2018 and for intra-State movement with effect from a date to be announced separately by each State but not later than 01.06.2018.

6. The report and recommendations submitted by the Committee on Handicrafts were also accepted by the GST Council.