LIVE UPDATES: 32nd GST council meeting underway

Catch all the live updates of the 32nd GST council meeting, Vigyan Bhavan New Delhi.

3:27 pm The press meeting concludes, 32nd GST council meet comes to an end.

3:10 pm Finance Minister details the press about the decisions taken in the 32nd Council Meet.

2:15 pm GOM will look into the Real Estate Sector issues concerning GST

 

1.30 p.m  Sources say,  New Composition scheme limit for service providers:

  • Tax rate at 6%
  • Threshold limit to opt into the scheme is up to Rs.50 lakh

 

12.30 p.m Sources say,  GST registration limit to increase from Rs.20 lakhs to Rs.40 lakhs

 

11.43 a.m The threshold to opt-in for the composition scheme is likely to increase from 1 crore to 1.5 crores starting 1st April. 2019

 

11.41 a.m  Sources say, the council is likely to introduce RFID tagging for the e-way bill and Anti-Profiteering measures are also on agenda

 

10.45 a.m Issac Thomas, Kerala Finance Minister told media reporters:

“Attempt to reverse the tax structure in Lotteries is unacceptable and Suggestion to increase the compensation of MSMEs is positive”

 

10. 30 a.m Finance Minister arrives at the Vigyan Bhavan, New Delhi

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