Key decisions at the 32nd GST Council Meet
Under the Chairmanship of Union Finance Minister Shri Arun Jaitley, the 32nd meeting of the Goods and Services Tax Council is going on at Vigyan Bhawan, New Delhi.
Revenue Secretary, Dr. Ajay Bhushan Pandey is also the part of the meeting.
So far, following 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 as against the media news of Rs. 50 Lakh
2 Government nods for Calamity Cess.
3. GST Council agrees to allow composition tax payers to pay GST quarterly and file returns annually.
4 GST Council decides to Increase the limit of annual turnover for composition scheme to 1.5cr effective from 1st April 2019