GST Update – First GST Council Meeting Concludes on Exemption Limits and Control Over Assessee.
Exemption Limit – Rs 20 Lakhs Limit ,Except in Hilly & North East Wherein Rs 10 Lakhs, Has Been Confirmed.
Existing 11 Lakh Service Providers Shall Be Under The Control Of Central Government Irrespective of Their Turnover.
Units Upto Rs 1.5 Cr – They Will Be Under The Control Of States.
Next GST Council Meeting – Rate of GST will be Finalised in Next Meeting Scheduled on 17- 19 October 2016.