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Home News Goods and Services Tax - GST Month 3 2019 2019 (3) This
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Implementation of various decisions taken by the GST Council for the MSME Sector; Issue of Notifications there of

March 7, 2019
  • Contents

The GST Council in its 32nd Meeting held on 10th January, 2019, inter-alia, had taken the following decisions to be effective from 1st April, 2019 (01.04.2019):

  • 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. ₹ 40 lakhs and ₹ 20 lakhs. States would have an option to decide about one of the limits. The Threshold for Registration for Service Providers would continue to be ₹ 20 lakhs and in case of Special Category States ₹ 10 lakhs.
  • Composition Scheme for Services and Mixed Suppliers: A Composition Scheme shall be made available for Suppliers of Services (or Mixed Suppliers) with a tax rate of 6% (3% CGST + 3% SGST) having an Annual Turnover in preceding Financial Year upto ₹ 50 lakhs.
  • Increase in Turnover Limit for the Existing Composition Scheme: The Limit of Annual Turnover in the preceding Financial Year for availing Composition Scheme for Goods shall be increased to ₹ 1.5 crore. Special Category States would decide about the Composition Limit in their respective States.

            The following Notifications have been issued to implement the above decisions:

            These Notifications shall come into effect from the 1st of April, 2019.

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