State GST Bill

The Goods and Services Tax Council should consider raising the GST exemption threshold to Rs 1.5 crore annual turnover and also do away with the requirement of state-wise registration, which would help ease compliance, economic think tank GTRI said on Friday. The GST network has over 1.4 crore registered taxpayers, making it the largest global platform for indirect taxes. "The GST Council now needs to consolidate gains by making compliance easy," the Global Trade Research Initiative (GTRI) said, while recommending seven reforms for next phase of transformational growth. The think tank suggested increasing the GST exemption limit to Rs 1.5 crore, which it feels will be a game changer for India's MSME sector and set them on the path to job creation and growth. Currently, registration for GST is optional for firms with an annual turnover of less than Rs 40 lakh for goods and Rs 20 lakh for services. "Firms with less than Rs 1.5 crore annual turnover account for 84 per cent of total

The Council had last year set up a panel of state ministers, headed by Karnataka Chief Minister Basavaraj Bommai, to suggest ways to augment revenue by rationalising tax rates

The negative growth rates of the SGST collection were recorded in April, May and June this year

Later, the UT GST Act has to be made for Ladakh and state GST Act for J&K

The picture becomes sharper if we look at how Central GST (CGST) and State GST (SGST) collections have grown or contracted in FY20

Amidst high drama and ruckus over a television channel sting operation on AIADMK MLAs, the Tamil Nadu Assembly today tabled the Tamil Nadu Goods and Services Tax (GST) Bill, 2017, in tune with the national rollout of the new tax regime on July 1. The State, which has been objecting GST initially, said that it is ready for the roll out and 90 per cent of the of 601,000 dealers have migrated.On the first day of the 24-day Assembly session, the opposition party Dravida Munnetra Kazhagam (DMK) raised the issue of cash-for-vote by MLAs during the last confidence motion on the Edappadi K Palaniswami-led government, allegedly exposed in a sting operation by a television channel. A private news channel this week has aired a sting operation which showed that some of the legislators commenting on alleged cash offerings by one faction of the party to the MLAs before the crucial confidence voting in the Assembly on February 18, which led to V K Sasikala's trusted Palaniswami-led cabinet to take ..