The centre has introduced the four GST amendment bills in order to make return forms easy and increase the turnover threshold limit for composition dealers to Rs. 1.5 crore.
Piyush Goyal, finance minister mentioned in a statement that the amendment bills such as the Union Territory GST (Amendment) Bill, the GST (Compensation to States) Amendment Bill, the Integrated GST (Amendment) Bill, and the Central GST (Amendment) Bill were basically come into effect to support the small traders and the MSME sector.
Sunil Jakhar, the member of Congress, although, blamed the government for bringing such bills in hurry and also predicted that these amendments would hurt the interests of the MSME sector.
He further said that Punjab was facing problems due to GST introduction and the government was required to discuss the matter of GST law amendments with the stakeholders.
In a reply, Mr Goyal had favoured the move and said that the government had set up a wide discussion with the shareholders comprising Punjab and all the changes are put in favour of small traders. As the threshold limit for the composition dealers was increased to Rs. 1.5 Crore from Rs. 1 Crore.
