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Budget-II 2019

Central Goods and Service Tax Act- Amendmentst<br>Registration <br>Threshold:<br>The Goods and Service Tax Council in its 32nd council meeting had decided to increase the threshold exemption limit for supplier of goods from Rs. 20 lakhs to Rs. 40 lakhs. <br>

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Budget-II 2019

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  1. GST Key Amendments Budget, 2019 KEY HIGHLIGHTS - JULY 19 M. S. CHHAJED & CO. 1

  2. Central Goods and Service Tax Act- Amendments Registration Threshold: The Goods and Service Tax Council in its 32nd council meeting had decided to increase the threshold exemption limit for supplier of goods from Rs. 20 lakhs to Rs. 40 lakhs. An explanation and a proviso is proposed to be inserted in Section 22 of the Central Goods and Service Tax, Act which empowers the Central Government at the request of the Council and States to increase the threshold exemption limit from Rs. 20 lakhs to such amount not exceeding INR 40 lakhs in case of a supplier engaged in exclusive supply of goods. Aadhar New sub-section are proposed to be inserted in Section 25 of the CGST Act to make Aadhaar authentication mandatory for specified class of new taxpayers and to prescribe the manner in which certain class of registered taxpayers are required to undergo Aadhaar authentication. In case where Aadhaar number is not assigned, the Government would offer alternate and viable means of identification. In case of persons, other than an individual, Aadhaar of following relevant person shall be required to be furnished: •Karta •Managing Director/ Whole time Director •Partners •Members of Managing Committee of Association •Board of Trustees Authorised representative •Authorised signatory However, the Government may exempt class of persons from the above authentication by way of notification. Read More KEY HIGHLIGHTS - JULY 19 M. S. CHHAJED & CO. 2

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