The Decision taken by the GST Council in the 32nd meeting held on 10th January 2019 at New Delhi.
Dear all,
Your association SIMA is forwarding herewith the Press Note on the decision taken by the GST Council in the 32nd meeting held on 10th January 2019.
To give relief to MSME(including small traders), and the following decisions were taken in the meeting:
- Increase in turnover limit for the existing composition scheme.
- Compliance simplification.
- Higher exemption threshold limit for a supplier of goods.
- Composition scheme for services.
- Free Accounting and Billing Software shall be provided to small taxpayers by GSTN.
- Matter referred to Group of Ministers.
Your association is pleased to inform you that, the Goods and Services Tax (GST) Council approved a series of measures aimed at benefiting small businesses, such as a doubling of the exemption threshold to 40 lakh and an increase in the turnover limit for service providers looking to avail of the low-compliance composition scheme. In this regards your association is forwarding articles published on Economic Times Epaper and Times of India Epaper on dated 11.01.2019.
This is for your kind information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
