TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>GST Council Sets Exemption and Composition Thresholds; Discusses Compensation and Cross-Empowerment, Plans Further Meetings.</h1> The first GST Council meeting, chaired by the Union Finance Minister, convened on September 22-23, 2016, in New Delhi. Key agenda items included drafting rules for Council procedures, setting GST implementation timelines, determining exemption thresholds, and discussing GST compensation modalities. The Council agreed on a Rs. 20 lakh exemption threshold, with a Rs. 10 lakh threshold for special category states. A composition threshold of Rs. 50 lakh was set, excluding manufacturers and service providers. Compensation for states was based on 2015-16 as the base year, with quarterly payments. Discussions on cross-empowerment for GST administration remained inconclusive, with further meetings scheduled.
TaxTMI 
TaxTMI 
