32nd GST Council Meet is expected to give relief & rate cuts for real estate & MSME sectors and at the same time discuss possibilities to achieve GST revenue target. Tyagi Parisha with the latest on the meet!.
32nd GST Council Meet is expected to give relief & rate cuts for real estate & MSME sectors and at the same time discuss possibilities to achieve GST revenue target. Tyagi Parisha with the latest on the meet!
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The GST Council during its 32nd meet on Thursday doubled the exemption limit and raised the threshold for availing the composition scheme. The council also increased the GST exemption limit to Rs 20 lakh for northeastern states and Rs 40 lakh for the rest of the country. The move aims to give relief to micro, small and medium enterprises. The council also allowed Kerala to levy 1 per cent calamity cess on intra-state sales for a period of up to two years. It decided to form a seven-member group of ministers on including real estate and lottery under the Goods and Services Tax. Watch five key decisions of the GST council meeting.
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The GST Council on Friday left taxes on Covid-19 vaccines and medical supplies unchanged but exempted duty on import of a medicine used for treatment of black fungus. A group of ministers will deliberate on tax structure on the vaccine and medical supplies, said Finance Minister Nirmala Sitharaman addressing the press.
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GST Council Meet in Delhi, कपड़ा व्यापारियों को राहत नहीं बढ़ेगा 7 फीसदी GST
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