Mera Saansad
Search Search
Tamil language

Major Decisions taken by the GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley

Published By : Admin | January 10, 2019 | 19:12 IST

The GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley in New Delhi took the following major decisions to give relief to MSME (including Small Traders) among others -

1.   Increase in Turnover Limit for the existing Composition Scheme: The limit of Annual Turnover in the preceding Financial Year for availing Composition Scheme for Goods shall be increased to Rs 1.5 crore. Special category States would decide, within one week, about the Composition Limit in their respective States.

1.1    Compliance Simplification: The compliance under Composition Scheme shall be simplified as now they would need to file one Annual Return but Payment of Taxes would remain Quarterly (along with a simple declaration).

2.    Higher Exemption Threshold Limit for Supplier of Goods: There would be two Threshold Limits for exemption from Registration and Payment of GST for the suppliers of Goods i.e. Rs 40 lakhs and Rs 20 lakhs. States would have an option to decide about one of the limits within a weeks’ time. The Threshold for Registration for Service Providers would continue to be Rs 20 lakhs and in case of Special Category States at Rs 10 lakhs.

3.   Composition   Scheme for Services: A Composition Scheme shall be made available for Suppliers of Services (or Mixed Suppliers) with a Tax Rate of 6% (3% CGST +3% SGST) having an Annual Turnover in the preceding Financial Year up to Rs 50 lakhs.

3.1  The said Scheme Shall be applicable to both Service Providers as well as Suppliers of Goods and Services, who are not eligible for the presently available Composition Scheme for Goods.

3.2  They would be liable to file one Annual Return with Quarterly Payment of Taxes (along with a Simple Declaration).

4.     Effective date: The decisions at Sl. No. 1 to 3 above shall be made operational from the 1st of April, 2019.

5.    Free Accounting and Billing Software shall be provided to Small Taxpayers by GSTN.

 6.   Matters referred to Group of Ministers:

        i.   A seven Member Group of Ministers shall be constituted to examine the proposal of giving a Composition Scheme to Boost the Residential Segment of the Real Estate Sector.

      ii.    A Group of Ministers shall be constituted to examine the GST Rate Structure on Lotteries.

7.  Revenue Mobilization for Natural Calamities: GST Council approved Levy of Cess on Intra-State Supply of Goods and Services within the State of Kerala at a rate not exceeding 1% for a period not exceeding 2 years.

Login or Register to add your comment
Explore More
ஒவ்வொரு இந்தியனின் இரத்தமும் கொதிக்கிறது: ‘மன் கீ பாத்’ (மனதின் குரல்) நிகழ்ச்சியில் பிரதமர் மோடி

பிரபலமான பேச்சுகள்

ஒவ்வொரு இந்தியனின் இரத்தமும் கொதிக்கிறது: ‘மன் கீ பாத்’ (மனதின் குரல்) நிகழ்ச்சியில் பிரதமர் மோடி
View All
India Semiconductor Mission: How India plans to become the world’s next chip powerhouse

Media Coverage

India Semiconductor Mission: How India plans to become the world’s next chip powerhouse
View All
NM on the go

Nm on the go

Always be the first to hear from the PM. Get the App Now!
Download App
...
PM chairs high-level meeting to review the progress of the fisheries sector
May 15, 2025
Focus of the discussion on Fishing in the EEZ and High Seas
PM Calls for using Satellite Technology to Boost Fisheries and Fishermen Safety
PM Stresses Modernization of Fisheries with Smart Harbours, Drone Transport, and Value-Added Supply Chains
On the lines of agro tech in the agriculture sector, PM suggests enhanced adoption of fish tech in the fisheries sector for improving production, processing and marketing practices
PM discusses Fisheries in Amrit Sarovars and promotion of Ornamental Fisheries for livelihood support
PM suggests exploration of multifarious use of seaweeds for fuel purposes, as nutritional inputs, in pharmaceuticals and other sectors
PM calls for strategy to Boost Fish Supply in Landlocked Areas

Prime Minister Shri Narendra Modi chaired a high-level meeting to review the progress of the fisheries sector, with focus on Fishing in the Exclusive Economic Zone(EEZ) and High Seas, at his residence at Lok Kalyan Marg earlier today.

Prime Minister emphasized the extensive use of satellite technology to harness better use of fish resources and give safety instructions to fishermen.

Prime Minister stressed on modernization of the sector through smart harbours and markets, use of drones in transportation of the catch and its marketing. He said that there is a need to move toward a healthier system of functioning so as to add value in the supply chain.

Further, Prime Minister suggested exploration of the usage of drones, as per technical protocols, for transportation of fresh fish from production centres to big nearby markets in cities / towns in consultation with civil aviation.

Prime Minister underlined the need for improvements in processing and packaging of the produce. Facilitation of investments from the private sector was also discussed.

Regarding the use of technology, Prime Minister said that similar to agro tech in the agriculture sector, adoption of fish tech in the fisheries sector should be enhanced for improving the production, processing and marketing practices.

Prime Minister said that taking up fisheries production in Amrit Sarovars will not only improve the sustenance of these water bodies but also improve the livelihoods of the fishermen. He also highlighted that ornamental fisheries also needs to be promoted as an avenue for income generation.

Prime Minister said that a strategy should be worked out to serve the needs of landlocked areas where there is high demand for fish but not enough supply.

Prime Minister suggested that usage of seaweeds for fuel purposes, as nutritional inputs, in pharmaceuticals and other sectors should be explored. He said that all the departments concerned should work together and use technology to create the required outputs and outcomes in the seaweed sector, ensuring complete ownership.

Prime Minister also suggested undertaking capacity building of fishermen in modern fishing practices. He also suggested maintenance of a negative list of items that hinder the growth of the sector so that action plans can be made to overcome these and further enhance Ease of Doing Business and Ease of Living of the fishermen.

During the meeting, a presentation was also done on the progress made in important initiatives, compliances to the suggestions given during the last review, and the proposed enabling framework for sustainable harnessing of fisheries from the Indian Exclusive Economic Zone(EEZ) and High Seas.

Since 2015, Government of India has stepped-up investment to Rs. 38,572 crore through various GoI schemes and programs namely Blue Revolution Scheme, Fisheries and Aquaculture Infrastructure Development Fund (FIDF), Pradhan Mantri Matsya Sampada Yojana (PMMSY), Pradhan Mantri Matsya Samridhi Sah Yojana (PM-MKSSY) and Kisan Credit Card (KCC). India has registered an annual fish production of 195 lakh tons in 2024-25 with sectoral growth rate of more than 9%.

The meeting was attended by the Union Minister of Fisheries, Animal Husbandry and Dairying Shri Rajiv Ranjan Singh alias Lalan Singh, Principal Secretary to PM Dr. P.K. Mishra, Principal Secretary-2 to PM Shri Shaktikanta Das, Advisor to PM Shri Amit Khare, Secretary of the Department of Fisheries and senior officials.