Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
  Aalami Sahara Rashtriya Sahara Roznama Sahara
GST Composition Scheme: Rs 1.5 cr threshhold from 2019-20
New Delhi
Last Updated : 10 Jan 2019 04:42:32 PM IST
GST Composition Scheme: Rs 1.5 cr threshhold from 2019-20
Finance Minister Arun Jaitley


In a further relief to the micro, small and medium (MSME) sector, the threshhold limit for eligibility under the GST Composition Scheme was raised to Rs 1.5 crore, from Rs 1 crore, by the GST Council on Thursday and will apply from the 2019-20 fiscal beginning April 1.

"We had raised the Composition Scheme limit to Rs 1.5 crore. The decision will be applicable from April 1, 2019," Finance Minister Arun Jaitley told reporters here after chairing the 32nd meeting of the GST Council.

Those opting for the Composition Scheme pay a minimal Goods and Services Tax (GST) of 1 per cent.

In an easing of the compliance burden, the GST Council also decided that those opting for the scheme would need to file their returns only once a year, Jaitley said. The tax payment mode, however, would continue to be on a quarterly basis.

This facility will also be also applicable from April 1.

In a third decision, the GST Council also made small service providers, and those providing a mix of goods and services, with a turnover of up to 50 lakhs, eligible for the Composition Scheme.

With Thursday's decision, service and mixed goods and service providers will be entitled to avail the benefit on payment of GST at 6 per cent, Jaitley said.


For Latest Updates Please-

Join us on

Follow us on

Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:

The UDF in Kerala is all set to enter the Guinness world record for the longest banner whe

Bengali actress and newly-elected MP Nusrat Jahan looked every bit the traditional bride i

LG Electronics Inc said on Wednesday that it will introduce new C with its artificial inte


Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live