Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st 2018
GST
Dated:- 21-7-2018
Recommendations made during the 28th meeting of the GST Council held in New Delhi on 21st 2018
\nAmendments to the CGST Act, 2017, IGST Act, 2017, UTGST Act 2017, and GST (Compensation to States) Act, 2017
\nThe GST Council in its 28thmeeting held here today has recommended certain amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act.
\n2. The major recommendations are as detailed below:
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\nUpper limit of turnover for opting for composition scheme to be raised from ₹ 1 crore to ₹ 1.5 crore. Present limit of turnover can now be raised on the recommendations of the <\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ry in respect of multiple places of business located within the same State\/Union territory. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e the recipient fails to pay the due amount to the supplier within 180 days from the date of issue of invoice, the input tax credit availed by the recipient will be reversed, but liability to pay interest is being done away with. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st 2018 GSTDated:- 21-7-2018Recommendations made during the 28th meeting of the GST Council held in New Delhi on 21st 2018 Amendments to the CGST Act, 2017, IGST Act, 2017, UTGST Act 2017, and GST (Compensation to States) Act, 2017 The GST … Continue reading “Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st 2018”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12722","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12722"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12722\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
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\nMandatory registration is required for only those e-commerce operators who are required to collect tax at source.
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\nRegistration to remain temporarily suspended while cancellation of registration is under process, so that the taxpayer is relieved of continued compliance under the law.
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\nThe following transactions to be treated as no supply (no tax payable) under Schedule III:
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\nSupply of goods from a place in the non-taxable territory to another place in the non-taxable territory without such goods enteringinto India;
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\nSupply of warehoused goods to any person before clearance for home consumption; and
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\nSupply of goods<\/p>\n
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\nRegistered persons may issue consolidated credit\/debit notes in respect of multiple invoices issued in a Financial Year.
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\nAmount of pre-deposit payable for filing of appeal before the Appellate Authority and the Appellate Tribunal to be capped at ₹ 25 Crores and ₹ 50 Crores, respectively.
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\nCommissioner to be empowered to extend the time limit for return of inputs and capital sent on job work, upto a period of one year and two years, respectively.
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\nSupply of services to qualify as<\/p>\n
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