40th GST Council Meeting, Expectations we have

40th GST Council Meeting, Expectations we have - 40th GST Council Meeting to be held on 12th June 2020 1. Reduction of Rates: Certain sectors such as Real Estate, Hospitality, Airlines, Tourrism etc. hope of GST Rate Reduction. 2. Relaxations in GST Return Filing: Further relaxations in due dates of various GST Returns is Expected. 3. Interest and fees to be waived off on Late filing of GST Returns. 4. Pending Dues of States to be processed 5. Waiver of late fees of GSTR-3B - Refer News 6. Medical Equipments to be taxed at lower tax rate. 7. Removing restrictions for availament of ITC for a temporary period of time.