GST Council meet: Composition scheme limit increased to 1.5 crores

Jaitley

New Delhi, Jan 10: Union Finance Minister Arun Jaitley on Thursday chaired the 32nd meeting of the goods and services tax (GST) Council in the national capital.

Addressing media after the GST meet, jaitley made the anouncement that from 1st April 2019, composition scheme limit will be increased to 1.5 crores. Those who come under the composition scheme will pay tax quarterly, but the return will be filed only once a year”.

The Council approved composition scheme for Services”, he added.

Exemption limit for GST for those with a turnover up to 20 lakh has been raised to 40 lakhs.

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