Summary of Points Finalized in the Meeting

Deemed Ratification of Notifications, Circulars, and Orders
The Council ratified Notifications, Circulars, and Orders issued by the Central Government between 20th February 2019 and 12th March 2019, under CGST, UTGST Acts, and related rules. State notifications on the same matters were also deemed ratified.
34th GST Council Minutes, page 3

Decisions of the GST Implementation Committee (GIC)
The Council took note of GIC’s decisions, which included:

Amendments to CGST Rules and related circulars.

Deferment of the e-Wallet scheme.

Extension of IGST and Cess exemption on imports under Advance Authorisation/EPCG/EOU schemes up to 31st March 2020.

Settlement of ₹20,000 crore IGST on an ad hoc basis.
34th GST Council Minutes, page 4

IT Grievance Redressal Committee (ITGRC)
The Council noted decisions of the 5th ITGRC Meeting (held on 5th March 2019), which deliberated 224 TRAN-1 cases and allowed 80 cases for relief.
34th GST Council Minutes, page 4

Real Estate Sector – Operationalisation of New GST Rates
The Council finalised the framework to implement the reduced GST rates (1% and 5%) for residential projects effective 1st April 2019, as recommended in the 33rd Meeting.
Key points approved:

1% GST without ITC on affordable housing (up to 60 sqm in metros/90 sqm in non-metros; value up to ₹45 lakh).

5% GST without ITC on other residential properties.

Option for ongoing projects (construction started before 1st April 2019) to continue under old rates (8% or 12% with ITC).

80% of inputs/services to be procured from registered suppliers; shortfalls taxable under Reverse Charge Mechanism (RCM).

TDR/FSI/Lease premiums exempted for under-construction residential projects; liability shifted to builders under RCM, payable at completion.

Amendments to ITC rules for clear computation and reversal in real estate projects.
Notifications to take effect from 1st April 2019 after vetting by Law and Fitment Committees.
34th GST Council Minutes, pages 13–14, page 14

Creation of Goods and Services Tax Appellate Tribunal (GSTAT)
The Council reviewed progress on the formation of State and Area Benches of the GSTAT as per Section 109 of the CGST Act.

Reports from 20 States/UTs were received.

Remaining States were urged to expedite submission of proposals for locations of benches.
34th GST Council Minutes, page 15

Approval of Draft Removal of Difficulty Order (MSME Sector)
The Council approved a draft Removal of Difficulty Order to give effect to the Composition Scheme for Service Providers as per Notification No. 2/2019-Central Tax (Rate) dated 7th March 2019.
This extended provisions of Sections 10 and 18 of the CGST Act to such service providers.
34th GST Council Minutes, page 16

IGST Settlement and Closing Remarks

Members from Delhi, Bihar, and Gujarat requested another ad hoc IGST settlement before 31st March 2019.

The Chairperson acknowledged and agreed to review the matter.

Members appreciated the consensus-based, democratic functioning of the Council under the Chairpersonship of Shri Arun Jaitley.
34th GST Council Minutes, page 16–17