Following notifications were issued by CBIC on 7th March 2019 to implement decision of 32nd GST council meeting. It increases threshold for Composition scheme from 1 cr to 1.5 Cr. w.e.f. 01. Apr.19, Notifies due date for GSTR-3B for Apr’19-Jun’19, Notifying due date for GSTR-1 for Apr’19-Jun’19, Increase in limit for compulsory registration for supplier of Goods from 20L to 40L w.e.f. 01.Apr.19, Indirect composition scheme for Supplier of services for turnover upto 50L with 6% rate and no ITC w.e.f. 01.Apr.19 and Clarifies on business promotion schemes such as Buy 1 get 1, buy more save more, free sample and secondary discounts019.
| Notification no. | Impact |
|---|---|
| Notification No. 14/2019 – Central Tax Dated 07.03.2019 | Increasing the threshold for Composition scheme from 1 cr to 1.5 Cr. w.e.f. 01. Apr.19 |
| Notification No. 13/2019 – Central Tax Dated 07.03.2019 | Notifying due date for monthly GSTR-3B for Apr’19-Jun’19 as 20th of following month |
| Notification No. 12/2019 – Central Tax Dated 07.03.2019 | Notifying due date for monthly GSTR-1 for Apr’19-Jun’19 as 11th of following month |
| Notification No. 11/2019 – Central Tax Dated 07.03.2019 | Notifying due date for quarterly GSTR-1 for Apr’19-Jun’19 as 31.Jul.19 |
| Notification No. 10/2019 – Central Tax Dated 07.03.2019 | Increase in limit for compulsory registration for supplier of Goods from 20L to 40L w.e.f. 01.Apr.19 |
| Notification No. 2/2019-Central Tax (Rate) Dated 07.03.2019 | Indirect composition scheme for Supplier of services for turnover upto 50L with 6% rate and no ITC w.e.f. 01.Apr.19 |
| 92/11/2019 circular Dated 07.03.2019 | Clarification on business promotion schemes such as Buy 1 get 1, buy more save more, free sample and secondary discounts |
| Notification No. 2/2019- Union Territory Tax Dated 07.03.2019 | UTGST Registration Exemption up to 40 lacs w.e.f. 01-04-19 |
| Notification No. 2/2019- Union Territory Tax (Rate) Dated 07.03.2019 | Optional 6% UTGST Tax for First 50 lacs w.e.f. 01-04-2019 |
