GST Council to discuss rate rationalisation for residential properties, exemption threshold for MSMEs in January
The GST Council in its next meeting in January would consider rationalisation of tax rates on residential properties and raising the threshold limit for MSMEs from the current Rs 20 lakh
- Dec 23, 2018,
- Updated Dec 23, 2018 8:45 AM IST
The GST Council in its next meeting in January would consider rationalisation of tax rates on residential properties and raising the threshold limit for MSMEs from the current Rs 20 lakh, Finance Minister Arun Jaitley said Saturday.
He said the Council will also consider a composition scheme for small suppliers, a calamity cess and tax rates on the lottery.
Also Read: Government to meet fiscal deficit target of 3.3%: Arun Jaitley
Also Read: Opposition-ruled states bid to block GST rate cuts citing revenue consideration
The GST Council in its next meeting in January would consider rationalisation of tax rates on residential properties and raising the threshold limit for MSMEs from the current Rs 20 lakh, Finance Minister Arun Jaitley said Saturday.
He said the Council will also consider a composition scheme for small suppliers, a calamity cess and tax rates on the lottery.
Also Read: Government to meet fiscal deficit target of 3.3%: Arun Jaitley
Also Read: Opposition-ruled states bid to block GST rate cuts citing revenue consideration