Key Outcomes of 32nd GST Council Meeting held on January 10, 2019 at New Delhi took following decisions to give relief to normal taxpayer be increasing the threshold limit for registration:
Free accounting and Billing software:
It shall be provided to small taxpayer by Goods and Service Tax Network (GSTN).
Revenue mobilisation for natural calamities:
GST Council approved levy of Calamity Cess on Intra State supply of goods and services within the State of Kerala at a rate not exceeding 1% for a period not exceeding 2 years.
Higher exemption threshold limit for supplier of goods:
There would be two threshold limits for exemption from registration and payment of GST for the suppliers of goods i.e. Rs 40 lakhs and Rs 20 lakhs. States would have an option to decide about one of the limits within a weeks’ time. The threshold for registration for service providers would continue to be Rs 20 lakhs and in case of Special category States Rs 10 lakhs. The increased limit shall be made effective from April 1, 2019
Press Release can be accessed at: http://www.a2ztaxcorp.com/wp-content/uploads/2019/01/Press-release-MSME-10012019.pdf