NEW DELHI: The Cabinet on Wednesday authorized GST laws amendments which incorporated hiking threshold prohibit for availing composition scheme sellers to Rs 1.5 crore, among different things.
The govt will now desk amendments to the Central GST law, Integrated GST law, Compensation Cess law within the ongoing monsoon consultation of Parliament.
"GST laws amendments have been cleared," an legitimate supply said after the Cabinet meeting chaired via Prime Minister Narendra Modi.
In all, there are 46 amendments, which among different things, will permit employers to assert input tax credit on facilities like meals, shipping and insurance provided to staff beneath any law.
It additionally supplies for modification of reverse price mechanism, separate registration for firms having different business verticals, cancellation of registration, new go back filing norms and issuance of consolidated debit/credit notes covering a couple of invoices.
The govt will now desk amendments to the Central GST law, Integrated GST law, Compensation Cess law within the ongoing monsoon consultation of Parliament.
"GST laws amendments have been cleared," an legitimate supply said after the Cabinet meeting chaired via Prime Minister Narendra Modi.
In all, there are 46 amendments, which among different things, will permit employers to assert input tax credit on facilities like meals, shipping and insurance provided to staff beneath any law.
It additionally supplies for modification of reverse price mechanism, separate registration for firms having different business verticals, cancellation of registration, new go back filing norms and issuance of consolidated debit/credit notes covering a couple of invoices.
Cabinet clears amendments to GST laws
![Cabinet clears amendments to GST laws]()
Reviewed by Kailash
on
August 02, 2018
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