11
Jan2019

Summary of Updates from 32nd GST Council Meeting held on 10/01/2019

GST Registration
 Basic exemption limit for suppliers of goods will be increased from Rs 20 lakhs to Rs
40 lakhs. However, this limit remains Rs 20 lakhs for suppliers of services.

 For the special category States, the limit for registration is currently at Rs 10 lakhs.
This limit in case of supply of goods is increased up to Rs 20 lakhs and such States
have been given an option to either choose Rs 40 lakhs or Rs 20 lakhs threshold limit
in a week’s time.

2. Composition scheme
Change in Existing Scheme
 Increase in turnover limit for the existing composition scheme for goods to Rs.1.5
crore.
 Compliance Simplification: Tax to be paid quarterly along with simple declaration
and GST Returns to be filed annually.
New Composition Scheme
 A composition scheme shall be made available to the supplier of services (or mixed
suppliers) having Annual Turnover in the preceding Financial Year up to Rs.50 lakhs.
Tax rate will be 6% (3% CGST +3% SGST).
 The said Scheme shall be applicable to both Service Providers as well as Suppliers
of Goods and Services, who are currently ineligible for availing composition scheme
of goods.
All these provisions will be effective from 1st April 2019

3. Free Accounting and Billing Software will be provided to Small Taxpayers by GSTN.

4. Levy of additional cess within Kerala
 GST Council approved Levy of Cess on Intra-State Supply of Goods and Services
within the State of Kerala at a rate not exceeding 1% for a period not exceeding 2
years.

5. Matters referred to Group of Ministers:
 A seven Member Group of Ministers shall be constituted to examine the proposal of giving a
Composition Scheme to Boost the Residential Segment of the Real Estate Sector.

 A Group of Ministers shall be constituted to examine the GST Rate Structure on Lotteries.

6. Extension of GST practitioner exam
 The Last Date for passing the examination for GST Practitioners to be extended till
31.12.2019 for those GST Practitioners who were sales tax practitioner or tax return
preparer under the existing law for a period of not less than five years

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