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of <h1>GST Council Reviews CGST Rule Amendments, Late Fee Reductions, and State Compensation Amid COVID-19 Challenges.</h1> The 40th GST Council Meeting, chaired by the Finance Minister, was held on June 12, 2020, via video conference. Key agenda items included confirming the 39th meeting minutes, reviewing the revenue position, and discussing recommendations from the Law Committee. These included amendments to the CGST Rules, proposals for extending deadlines for registration cancellations, and reducing late fees and interest rates for small taxpayers. The Council also discussed creating State and Area Benches of the GST Appellate Tribunal in Uttar Pradesh, the quarterly report of the National Anti-Profiteering Authority, and the constitution of Grievance Redressal Committees. The issue of inverted duty structures in key sectors was deferred. The Council agreed to hold a separate meeting to discuss compensation to States due to revenue shortfalls exacerbated by the COVID-19 pandemic.
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