Certain important issues referred by GST Council to various Committees / GoM

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The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:

  1. Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed – Law Committee and Fitment Committee.
  2. Tax rate on lotteries – Committee of States.
  3. Taxation of residential property in real estate sector – Law Committee and Fitment Committee.
  4. Threshold limit of exemption under GST regime – GoM on MSMEs.

GST council in its next meeting would take a view on the above issues in its next meeting.

Read More at: http://pib.nic.in/PressReleseDetail.aspx?PRID=1557059