28th GST council meeting was held on Saturday, 21st July, 2018 at New Delhi.
The key decisions taken in this meeting are highlighted below:
1. Return filing process further simplified
- NIL return filers shall have the facility to file return via SMS
- Option of amendment return to be introduced
- For taxpayers with turnover up to Rs 5 crores, return can be filed quarterly. However, payment of GST has to be made monthly.
2. The threshold limit of turnover for GST registration increased to 20 lakhs from 10 lakhs for Taxpayers of 6 states – Sikkim, Arunachal Pradesh, Himachal Pradesh, Uttarakhand, Assam & Meghalaya
3. Applicability of Reverse Charge Mechanism (RCM) deferred till 30th September, 2019.
4. Rates on various categories of goods and services rationalized – consumers to benefit the most.