Chaired by Arun Jaitley, Union Finance Minister.
Compliance and returns
- Raised the composition scheme turnover limit from Rs. 75 lakh to Rs. 1 crore (Rs. 75 lakh for most special category States), and allowed persons supplying exempt services such as bank deposits to opt in.
- Allowed taxpayers with turnover up to Rs. 1.5 crore to file returns and pay tax quarterly from October-December 2017, with buyers still able to take credit monthly.
- Relieved taxpayers with turnover up to Rs. 1.5 crore from paying GST on advances received for supply of goods.
- Postponed registration and operation of TDS and TCS provisions until 31 March 2018.
Registration
- Exempted service providers with turnover below Rs. 20 lakh (Rs. 10 lakh in special category States) from registration even when making inter-State supplies.
Law and procedure
- Suspended reverse charge on supplies from unregistered persons under section 9(4) of the CGST Act until 31 March 2018.
Rates
- Exempted services of goods transport agencies to unregistered persons.
- Cut rates on items such as unbranded namkeens, unbranded ayurvedic medicines and real zari (12 to 5 per cent), man-made yarns (18 to 12 per cent) and e-waste (to 5 per cent).
Trade facilitation
- Decided to introduce the e-way bill in a staggered manner from 1 January 2018 and nationwide from 1 April 2018.
Refunds
- Restored pre-GST exemptions on imports by exporters as an interim measure and allowed merchant exporters to procure goods at 0.1 per cent GST, pending an e-wallet scheme.
Other
- Set up a Group of Ministers to examine how to make the composition scheme more attractive.
Official documents
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