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)

Other Decision in 31ST GST Council Meeting

GST Rate Reduction proposed by GST Council during 31st Meeting

Formation of GoM as Recommended by GST Council in 31st Meeting

In Principle Approval to Centralised AAAR & Interest on net tax liability in 31st GST Council Meeting

15 Recommendations made during 31st Meeting of GST Council

GST on Goods- Changes proposed in 31st meeting of GST Council

GST on services- 21 Changes proposed in 31st meeting of GST Council

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January 2021