The all-powerful GST Council Friday extended the tenure of the anti-profiteering authority by two years and approved imposing a penalty of up to 10 per cent on entities not passing on benefits of GST rate cuts to consumers.
Briefing reporters after the 35th meeting of the Council, Finance Minister Nirmala Sitharaman said that the meeting was conducive and fruitful. Revenue Secretary A.B. Pandey said that GST council has decided to allow the use of Aadhaar by businesses to register with GST-Network.
The council extended the date for filing annual returns under the Goods and Services Tax regime by two months to August 30, adding the one-form new GST return filing system will be applicable from January 1, 2020.