Please find below some of the key decisions taken by the GST Council in its 39th meeting which was held on 15.03.2020.
Policy and rate changes:
- ceiling to be fixed for the value of the export supply for the purpose of calculation of refund on zero rated supplies
- to allow for refund to be sanctioned in both cash and credit in case of excess payment of tax
- to provide for recovery of refund on export of goods where export proceeds are not realized within the time prescribed under FEMA
- to operationalize Aadhaar authentication for new taxpayers
This update has been contributed by Ajay Sanwaria (Managing Associate).
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