{"id":1749,"date":"2019-03-08T12:34:06","date_gmt":"2019-03-08T12:34:06","guid":{"rendered":"https:\/\/www.gstpractitioners.in\/?p=1749"},"modified":"2019-03-08T17:19:51","modified_gmt":"2019-03-08T17:19:51","slug":"implementation-of-various-decisions-taken-by-the-gst-council-for-the-msme-sector","status":"publish","type":"post","link":"https:\/\/www.gstpractitioners.in\/blog\/implementation-of-various-decisions-taken-by-the-gst-council-for-the-msme-sector\/","title":{"rendered":"Implementation of various decisions taken by the GST Council for the MSME sector"},"content":{"rendered":"<div class='epvc-post-count'><span class='epvc-eye'><\/span>  <span class=\"epvc-count\"> 773<\/span><\/div>\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"377\" src=\"https:\/\/www.gstpractitioners.in\/wp-content\/uploads\/2019\/03\/Implementation-of-various-decisions-taken-by-the-GST-Council-for-the-MSME-sector-1.jpg\" alt=\"\" class=\"wp-image-1756\" srcset=\"https:\/\/www.gstpractitioners.in\/blog\/wp-content\/uploads\/2019\/03\/Implementation-of-various-decisions-taken-by-the-GST-Council-for-the-MSME-sector-1.jpg 450w, https:\/\/www.gstpractitioners.in\/blog\/wp-content\/uploads\/2019\/03\/Implementation-of-various-decisions-taken-by-the-GST-Council-for-the-MSME-sector-1-300x251.jpg 300w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/figure>\n\n\n<p style=\"text-align: justify\"><span style=\"color: #000000\"><strong>The GST Council in its 32nd meeting held on 10th January, 2019, inter-alia, had taken following decisions to be effective from 01.04.19:<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000\">1. 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. The threshold for registration for service providers would continue to be Rs 20 lakhs and in case of Special category States Rs 10 lakhs.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000\">2. 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 Rs 50 lakhs.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000\">3. 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 Rs 1.5 crore. Special category States would decide about the composition limit in their respective States.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000\">4. The following notifications have been issued to implement the above decisions:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000\">(a) Notification No. 10\/2019 \u2013 Central Tax, dated the 7th of March, 2019 for higher exemption threshold limit for supplier of goods;<\/span><br><span style=\"color: #000000\">(b)Notification No. 02\/2019 \u2013 Central Tax (Rate), dated the 7th of March, 2019 for Composition scheme for services and mixed suppliers, which would be optional to the taxpayers;<\/span><br><span style=\"color: #000000\">(c ) Notification No. 14\/2019 \u2013 Central Tax, dated the 7th of March, 2019 for increase in turnover limit in case of existing composition scheme.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000\">5. These notifications shall come into effect from the 1st of April, 2019.<\/span><\/p>\n\n\n<p><strong>See Press Release<\/strong><\/p>\n\n\n<a href=\"https:\/\/www.gstpractitioners.in\/wp-content\/uploads\/2019\/03\/Press_Release_07032019-1_pages-to-jpg-0001.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Press_Release_07032019-1_pages-to-jpg-0001<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>773 The GST Council in its 32nd meeting held on 10th January, 2019, inter-alia, had taken following decisions to be &#8230;. <\/p>\n","protected":false},"author":2,"featured_media":1754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,2,24,40,28],"tags":[],"class_list":["post-1749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-annual-return-under-gst","category-blog","category-composition-scheme","category-gst-council-meeting","category-gst-return"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/posts\/1749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/comments?post=1749"}],"version-history":[{"count":5,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/posts\/1749\/revisions"}],"predecessor-version":[{"id":1761,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/posts\/1749\/revisions\/1761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/media\/1754"}],"wp:attachment":[{"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/media?parent=1749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/categories?post=1749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstpractitioners.in\/blog\/wp-json\/wp\/v2\/tags?post=1749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}