Crucial issues referred by GST Council to various Committees

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.

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