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New Delhi (India), Jan 6 (ANI): The Group of Ministers (GoM) on Goods and Services Tax (GST) on Sunday recommended that Kerala should be given the right to levy cess maximum up to one per cent for two years.
The government of Kerala had requested the Centre for relief in State GST (SGST) to generate revenue for the rehabilitation of last year's ravaging victims.
"The Centre and the state can collectively decide the borrowing limit by the state. Kerala had submitted a memorandum for the relief, which was considered and recommended for approval in the meeting," Sushil Kumar Modi, Bihar Deputy Chief Minister, told media persons after the meeting.
Modi said the panel has also recommended that those dealers and suppliers who have turnover below Rs 1.5 crore can opt for the composition scheme after which they would be required to file their return annually and not every three months.
"The GoM meeting also recommended that free software should be provided to the dealers and suppliers who have a turnover of up to Rs 1.5 crore," Modi informed.
He said that most of the ministers were of the view that GST threshold should be increased and GST Council has a take final call on it. Currently, businesses with an annual turnover of up to Rs 20 lakh are exempted from the GST. (ANI)
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
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