Key updates of 32nd GST Council Meeting | 32nd GST Council Meeting updates:
Finance Minister Arun Jaitley chairs the 32nd meeting of the Goods and Services Tax Council, in Delhi. Revenue Secretary, Dr. Ajay Bhushan Pandey is also seen.
Below are the Key Updates of 32nd GST Council Meeting.
1.) GST Council has decided to increase GST registration threshold limit to Rs 40 lakh from Rs 20 lakh.
2.) GST Council agrees to allow composition tax payers to pay GST quarterly and file returns annually. The council also approved composition scheme for services.
3.) GST Council decides to Increase the limit of annual turnover for composition scheme to 1.5 cr effective from 1st April 2019
4.) Real estate issues referred to the Group of Ministers, the composition is expected to be announced soon: Sources
5.) Composition rate for services to be 6% . GST composition limit for services set at Rs 50 lakh
6.) Kerala Govt to levy a 1 percent calamity cess for 2 years to shore up funds for rehabilitation
7.) Yearly return for tax payers of composition scheme.
8.) GST Council sets up committee to consider real estate GST rates says Finance Minister
You may also refer : 32nd GST Council Meeting Updates
|1.||Press Release of Major Decisions taken by the GST Council in its 32nd Meeting|
|2.||Key updates of 32nd GST Council Meeting | 32nd GST Council Meeting updates|
|3.||Breaking : Last Date for passing GSTP exam extended till 31.12.2019|
Earlier GST Council Meeting Updates