The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:
Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed – Law Committee and Fitment Committee.
Tax rate on lotteries – Committee of States.
Taxation of residential property in real estate sector – Law Committee and Fitment Committee.
Threshold limit of exemption under GST regime – GoM on MSMEs.
GST council in its next meeting would take a view on the above issues in its next meeting.>