Group of Ministers · GST Council Secretariat (Minutes of the 32nd GST Council meeting) · 2019-01-10

Report of the Group of Ministers on MSMEs - 32nd GST Council

The GoM on MSMEs was set up to look at the compliance and cash-flow problems of small businesses under GST. At the 32nd Council meeting it presented five recommendations, which are attached to the minutes, and the Council discussed each one. They covered the composition scheme, registration thresholds and a simpler regime for small service providers. Some states worried about revenue loss from higher thresholds, so states were given options.

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Key findings and recommendations

  • The higher composition turnover limit of Rs. 1.5 crore to apply from 1 April 2019.
  • A higher registration threshold for suppliers of goods, with each state free to opt in.
  • A composition-type scheme for small service providers.
  • Composition taxpayers to file one annual return and pay tax quarterly.

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