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GST Council discussing quarterly return filing

Posted By: Doraiah Vundavally October 6, 2017

GST Council discussing quarterly return filingNew Delhi, Oct 6 (IANS) The Goods and Services Tax (GST) Council is actively discussing relief measures for traders, including quarterly return filing and increasing threshold limit for Composition Scheme, sources said on Friday.

"Council members requested quarterly return filings for businesses with turnover less than Rs 1.5 crore," a Council member said on the sidelines of its ongoing meeting.

A state Finance Minister said that the Council was discussing the issues being faced by small traders.

 

Raising the threshold limit for Composition Scheme from the current Rs 75 lakh to Rs 1 crore is also under discussion.

"Rs 1 crore threshold in the Composition Scheme is also supported by the GST Council members," he said.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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GST Council discussing quarterly return filing

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.