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GST exemption limit doubled to 40 lakhs
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New Delhi, Jan. 10 -- GST exemption limit doubled to Rs 40 lakh annual turnover; Rs 20 lakh for north eastern states. Group of Ministers constituted to consider GST on real estate, lottery after differences of opinion in GST Council, said FM Arun Jaitley.
GST Council hiked annual turnover for availing composition scheme to Rs 1.5 cr from Rs 1 cr; effective April 1, 2019.
Businesses availing GST Composition Scheme to file just one annual return, pay taxes once every quarter. GST Council allows Kerala to impose 1 pc cess on intra-state sales for up to 2 years.
Published by HT Digital Content Services with permission from MetroVaartha English....
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