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In the recent 33rd, GST council meeting which was held on 24th Feb 2019 took some important decisions based on the inputs given by many of the industry experts and GoM.
A few days back, GST Council held the 32nd meeting in which it was said that the GST threshold has been doubled from 20 lakh to 40 lakh annually to help small businesses and the state government can take their decision on it.
The Finance Minister of Andhra Pradesh Yanamala Ramakrishnudu showed his worry about the decision taken by GST (Goods and Services Tax) Council by choosing the agenda items without discussing with the state government.
32nd GST council meeting latest updates coming 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., Prime minister request over bringing the energy sector into the GST.
GST Council’s 31st meeting has taken some of the major decisions on the higher slab rate. The meeting deliberately made discussion on the items coming under the highest 28% GST slab rate.
To change the hospital bill structure of patients a proposal will be considered by the GST (Goods and Services Tax) to ensure that medical bills have transparency.
The GST Council will most probably bring down the 28% rate in its upcoming meeting by reducing the GST rate on construction items like – cement.
The Cess may get increased on the cars by the GST Council to organize the resources for giving the subsidy to the EVs. This scheme is made to promote green energy sources and minimize the use of crude oil.
The GST Council Secretariat has instructed six Indian states, including Delhi, Punjab and Madhya Pradesh, along with the Puducherry UT, to promptly set up the Appellate Authority for Advance Ruling (AAAR) in their respective regions to enable traders to file appeals against the orders released by the AAR.
