Important issues referred by GST Council

Important issues referred by GST Council

Certain important issues referred by GST Council to various Committees / GoM

The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:

i. Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed – Law Committee and Fitment Committee.

ii. Tax rate on lotteries – Committee of States.

iii. Taxation of residential property in real estate sector – Law Committee and Fitment Committee.

iv. Threshold limit of exemption under GST regime – GoM on MSMEs.

2. GST council in its next meeting would take a view on the above issues in its next meeting.

Download the press release on important issues referred by GST Council by clicking the below image:

Source: http://www.cbic.gov.in/resources//htdocs-cbec/press-release/22181222_Press%20Release_31st%20GST%20Council%20Policy_%20refernece%20to%20committee.pdf;jsessionid=BF26AD9545ADD1592E7210AFF4327A36