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क्या है GST की सच्चाई – देखें video

समझें इस video से की क्या है GST में नए बदलाव


For businesses in the northeast and so-called hilly states, the exemption limit was again doubled to Rs 20 lakh (the threshold is lower in the region because it has smaller businesses). However, states have been given some amount of leeway — those with a Rs 20 lakh threshold can up it to Rs 40 lakh, and those with a Rs 40 lakh threshold can bring it down to ~20 lakh. This will be a a one-time provision for states to either increase of decrease this limit depending on their revenue considerations. “States would have an option to decide about one of the limits within a week’s time,” a statement released by the government said. According to the government officials familiar with the matter, Opposition-ruled states, particularly ones ruled by the Congress and the Left, did not want the exemption to be raised. After the council meeting, Bihar finance minister Sushil Kumar Modi tweeted: “Threshold limit increased from 20 to 40 lakh in #gst. Kerala & Chattisgarh insisted on 20 lakh. So states given option either remain in 20 or 40 lakh”. In another tweet, he said that the Congress-ruled states opposed “every move” of the council to give relief to micro, small and medium enterprises (MSMEs) and small traders. In order to provide relief to small businesses, the council also increased the turnover limit for the existing composition scheme from Rs 1 crore to Rs 1.5 crore . The scheme has also been extended for service providers with an annual turnover of Rs 50 lakh at the rate of 6%. The scheme was introduced to save small GST payers from the tax’s cumbersome procedures, which they could escape by paying tax at a fixed rate. Simplifying procedures for small enterprises, the council allowed them to file only an annual return in place of quarterly returns. They will, however, be required to pay tax every quarter. PwC India partner-GST and indirect tax, Anita Rastogi ,said that the changes have covered service providers under a composition scheme. “Accordingly, service providers [including persons undertaking mixed supplies of goods and services] with aggregate annual turnover up to Rs 50 lakh will have the option to pay lower GST at the rate of 6%. This will bring cheer to small service providers”. The council also permitted Kerala to levy a calamity cess at a rate not exceeding 1% for a maximum period of two years to help its recovery from the August floods. Abhishek Jain, tax partner, EY India, said, “While this additional levy should help Kerala victims, companies as well as GSTN [GST Network] would need to modify their IT systems for incorporating this change. Also, to some extent it dilutes the One Nation One Tax concept.” The council could not arrive at a consensus on two hot-button issues — tax relief to the real estate sector and a uniform rate of tax on lotteries. The council referred to these issues to two separate groups of ministers. Jaitley also ruled out more immediate rationalisation in rates. This could happen in time as revenue increases, he explained.