Friday, Nov 16 2018 | Time 00:29 Hrs(IST)
image
States Share

Increase in limit for GST exemption in Assam

Guwahati, Oct 3 (UNI) The Assam Assembly today approved increasing the limit of annual
turnover for compulsory registration for small traders as well as raising the cap for those
eligible for filing composite tax under the GST regime.
As per the changes approved through the Assam Goods and Services Tax (Amendment)
Bill, 2018, passed by the House today, the annual turnover for compulsory GST registration
has been increased to Rs 20 lakh from current Rs 10 lakh.
Finance Minister Dr Himanta Biswa Sharma said the change in the slab would greatly
benefit the small traders in the state.
He pointed that besides Assam, Meghalaya and Nagaland had got the approval from the
GST Council in its last meeting for increasing the cap to Rs 20 lakh, though the North
Eastern states were originally put together in the Rs 10 lakh cap bracket as the turnover
of most businesses was within the latter limit and pushing up the cap to Rs 20 lakh would
deprive the state government of substantial revenue.
The other major amendment passed in the Assembly increased the turnover limit from
Rs 75 lakh to Rs 1.5 crore for businesses to be eligible for filing 1% composite tax under
the GST regime.
Further, for entrepreneurs with a turnover of up to Rs 1.5, the composite tax has been
fixed at 2 per cent.
Dr Sharma said both these changes in the limit were earlier proposed by the Opposition
members of the House and the state government had got the necessary clearance from
the GST council for implementing the same.
UNI SG BM
More News
Rahul's dream of winning MP will not be fulfilled: Smriti Irani

Rahul's dream of winning MP will not be fulfilled: Smriti Irani

15 Nov 2018 | 11:09 PM

Sehore, Nov 15 (UNI) Star campaigner of BJP and Union Minister Smriti Irani on Thursday took a jibe on Congress President Rahul Gandhi by alleging that his dream to win Madhya Pradesh, was not going to be fulfilled.

 Sharesee more..
Cyclone Gaja to cross TN coast tomorrow morning

Cyclone Gaja to cross TN coast tomorrow morning

15 Nov 2018 | 10:57 PM

Chennai, NOv 15 (UNI) The Severe Cyclonic Storm ‘GAJA’ over Southwest
Bay of Bengal moved further west-southwestwards and lay centred over
Southwest Bay of Bengal about 95 km east-southeast of Nagapattinam.

 Sharesee more..

144th birth anniversary of Birsa Munda observed in Tripura district

15 Nov 2018 | 10:54 PM

Ambassa(Tripura), Nov 15 (UNI) The 144th birth anniversary of the legendary tribal leader Birsa Munda was observed with pomp and gaiety in the Munda dominated Kartikgram in Dhalai district, here today.

 Sharesee more..

EC may slap criminal cases on poll abuse: CEO

15 Nov 2018 | 10:50 PM

Hyderabad, Nov 15 (UNI) State Chief Electoral Officer Rajat Kumar on Thursday asked political party leaders in Telangana to desist from using abusive language against each other during the poll campaign, as it will violate the poll code and criminal procedures, as per the Supreme Court guidelines.

 Sharesee more..

Sonowal urges COBSE members to display integrity

15 Nov 2018 | 10:46 PM

Guwahati, Nov 15 (UNI) Assam Chief Minister Sarbananda Sonowal today urged members of the Council of Boards of School Education in India (COBSE) to display integrity, exemplary skill and diligence in conduct of examinations to reinforce people’s faith into the examination system in the country.

 Sharesee more..
image