Certain important issues referred by GST Council to various Committees / GoM
The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:
i. Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed – Law Committee and Fitment Committee.
ii. Tax rate on lotteries – Committee of States.
iii. Taxation of residential property in real estate sector – Law Committee and Fitment Committee.
iv. Threshold limit of exemption under GST regime – GoM on MSMEs.
2. GST council in its next meeting would take a view on the above issues in its next meeting. (PIB)