On 10th January 2019 (Thursday), under the chairmanship of Hon. Finance Minister Mr. Arun Jaitley, the 32nd GST Council Meet took place in New Delhi.
Suppliers rendering either independent services or providing a combined supply of goods and services with an annual turnover of up to ₹ 50 lakhs in the preceding financial year, now can join the new Composition Scheme for service providers for which 6% Tax rate has been fixed (3% CGST + 3% SGST).
Kerala has been given special approval for charging disaster/calamity cess of up to 1% on all Intra-State supplies of goods and services within the state of Kerala, for only up to a fixed period of two years.
The last date for passing the GST Practitioners examination for existing GST Practitioners has now been extended till 31st 2019 (for those GST Practitioners who have already enrolled themselves under rule 83(1)(b) i.e. who were sales tax practitioner or tax return preparer under the existing law for more than five years).
Two GoMs has now been formed for further examination of GST on real estate and uniformity of taxation on the lottery and other such issues coming out of the lottery.
Of course, this 32nd GST Council meet has brought some tremendous decisions keeping in view the ease of almost every sort of businesses. The council also declared that all the decisions will come into effect on and from 1st April 2019. The Govt. has been making the whole GST concept easier and more convenient and this meeting can be considered as a milestone in the long run.
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