The GST Council has approved constitution of 18 Sectoral Groups

The GST Council has approved constitution of 18 Sectoral Groups representing various sectors of the economy with the following objectives - 1. Interact and examine representations received from trade and industry associations/bodies of their respective sectors, 2. Highlight specific issues for smooth transition of the sector to the GST regime and 3. Prepare sector-specific draft … Continue reading The GST Council has approved constitution of 18 Sectoral Groups

REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY

As per discussions in the 16th GST Council Meeting held on 11th June, 2017 Sub section (1) of section 10read with sub-section (2)of the same section of the Central Goods and Services Tax Act, 2017 [CGST Act] provides that an eligible registered person,whose aggregate turnover in the preceding financial year did not exceed Rs.50 lakh, … Continue reading REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY