GST Council meet: Rollout to rule changes, decisions explained in 12 points

July 1 rollout now certain; Council eases timeline for filing of returns for July and August

The government would allow companies to file late returns for the first two months after the implementation of the Goods and Service Tax (GST) regime on July 1, Finance Minister Arun Jaitley said on Sunday after a meeting of the GST Council. This would help companies adapt to the new online filing system.

GST, arguably the biggest tax reform in 70-year history of independent India, will require companies to file three online returns each month. Some industry bodies had earlier urged that the rollout of GST, scheduled for July 1, be delayed to allow companies more time to get ready.