Government introduces 4 GST amendment Bills

Why it is in news?
  • The government  introduced four Bills seeking to amend the Goods and Services Tax (GST) laws that will make return forms simpler and raise the turnover threshold for availing composition scheme to ₹1.5 crore.
  •  The amendment Bills —
    1. the Central GST (Amendment) Bill,
    1. the Integrated GST (Amendment) Bill,
    2. the GST (Compensation to States) Amendment Bill and the U
    3. nion Territory GST (Amendment) Bill — were primarily aimed at helping the MSME sector and small traders.
Oppositions views
  • Opposition  however  charged the government with bringing these Bills “hurriedly” and said it would hurt the interests of the MSME sector.
  • Opposition  alleged that Punjab was suffering on account of GST implementation and the Centre should have consulted stakeholders before amending the GST laws.
  • Responding to Oposition, FM  said the government had held wide consultations with all stakeholders including Punjab and the changes were intended to help small traders.
  • Government  said the threshold for composition scheme was being raised from ₹1 crore to ₹ 1.5 crore.
Source
The Hindu
 
 
 
 
Posted by Jawwad Kazi on 8th Aug 2018
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