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All Updates on 32nd GST Council Meeting On Threshold Limit & Composition Traders

32nd GST Council Meeting

32nd GST council meeting latest updates directly from major resources under which decisions on some major points including the GST threshold limit, GST rate fixed for composition scheme taxpayers along with annual return filing process taken.

32nd GST council meeting has been discussing for further announcements and decisions. The council has also decided on tax exemption for the small and medium enterprises by increasing GST threshold limit.

All Updates on 32nd GST Council Meeting in New Delhi

  • Committee set up for real estate sector to go through the issues and submit a report
  • GST Council permits the Kerala Govt to levy 1 per cent calamity cess for 2 years to collect funds for rehabilitation
  • 6 per cent GST rate applicable to the Composition scheme for service providers and turnover up to 50 lakh per annum.
  • The registration threshold limit under GST increased from earlier INR 20 lakh to INR 40 lakh. Kerala & Chattisgarh given option to remain in any limit either 20 lakh or 40 lakh. Also, Northeastern and hilly states threshold limit doubled more than 20 lakhs.
  • It was also announced that a free billing and cost accounting to be made available for the small taxpayers to reduce compliance cost.
  • GST Council increased the limit of annual turnover for composition scheme taxpayers to 1.50 Crores, effectively from 1 April 2019 under which the composition taxpayers allowed to file returns annually and pay tax on a quarterly basis.
  • The meeting has been started at the Vigyan Bhawan, Delhi chaired by the Union finance minister Arun Jaitley and state wise finance ministers.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Subodh Kumawat
Subodh has done with numerous professional degrees ranging from Human Rights to Banking along with MBA in HR Marketing. He is also interested in the field of tax-related articles and blog as per the industry based norms. Having expert knowledge in diverse sectors, he assures facts and figures along with testimony, in his articles. Working in SAG Infotech, he is a trusted author among the readers globally. View more posts
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23 thoughts on "All Updates on 32nd GST Council Meeting On Threshold Limit & Composition Traders"

  1. As per the council meeting in January 2019 composition tax for services below 50 lakh is to be taxed at 6% does it apply to hotels as well”

    1. As you are providing hotel services, so according to recent amendments by CBEC, First supplies of goods or services or both up to an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year, by a registered person, can opt for composition scheme and will pay tax @ 6%.

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