Agriculturists, small traders exempt from registering under GST

 

The Centre and states have decided to exempt agriculturists from registering under the Goods and Services Tax regime, while the threshold for traders has been set at Rs 20 lakh turnover.

The GST Council has also empowered commissioner-level officers to allow payment of GST levy by a taxpayer in instalments in order to mitigate any financial hardship being suffered by a taxpayer.

 

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Key takeaways of 8th GST Council meeting

 

Racing against time on the Government’s Goods and Services Tax (“GST”) implementation target of April 1, 2017, two – day meeting of all powerful GST Council, 8th in a row, begun on January 3, 2017. On the first day of the GST Council meet, the Ministry of Civil Aviation, Commerce, Railways, Electronics and IT and industry bodies such as NASSCOM made presentations on their expectations from GST.

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