Throwbacks from 32nd GST Council Meetings:
1.The GST registration threshold limit doubled. It has increased to Rs 40 Lakhs from the existing limit of Rs 20 Lakhs.
2. Kerla allowed to impose 1% cess for 2 years,for Kerla flood relief
3. Composition taxpayer allowed to pay GST quarterly and file returns annually.
4.Composition scheme introduced for Service Providers limit set to Rs 50 Lakhs.
5.Composition Rate for service providers set to 6%.
6.The Existing Composition scheme for other than service providers raised to Rs1.5 crores from the existing limit of Rs 1 crores.
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CA Lalit Gopal Gandhi
Sudheendra & Co. LLP