HP govt introduces new law to amend GST Act 2017

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Himachal Pradesh Government introduced a new law in the state assembly to amend the Himachal Pradesh Goods & Services Tax Act 2017 to make it more effective. Another legislation also introduced in the state assembly to exempt the micro, small and medium industrial units from certain approvals and inspections before their establishment and operation. Presenting the bill in the house on Tuesday, Chief Minister Jai Ram Thakur who hold the portfolio of Finance said that legislation would amend HP GST Act 2017 to make it more effective, workable & affable.

The new bill inter alia provide excluding National Appellate Authority for advance ruling from the definition of the Adjudicating Authority and include in the definition of Advance Ruling. It further provide alternate composition scheme for suppliers of services or mixed supplies who are not eligible in the earlier composition scheme having annual turnover in proceeding finical year up to Rs 50 lakh. Presently those who are making supplies of good of aggravated annual turnover above Rs 20 lakh have to register for GST registration with existing provisions.

Provisions are also being made that a class of suppliers shall mandatory offer the facility of digital payments to the recipients. Some amendments are also being made with regard to the provisions of filling various returns under the Act to make this more practice and convenient. The Industry Minister Vikram Singh also introduced Himachal Pradesh Micro, Small and Medium Enterprise for establishment and operation Bill 2019. The legislation would prove exemption from certain approvals and inspection for establishment and operation of the Micro, Small and Medium Enterprise . The bill would likely to come for discussion and approval in the house tomorrow or later.

Read More at: http://www.uniindia.com/hp-govt-introduces-new-law-to-amend-gst-act-2017/north/news/1817049.html