Cabinet gives nod to GST amendment

images-gst.jpg

PORVORIM: As part of an effort to streamline the existing Goods and Services Tax (GST) regime, the council of ministers approved the Goa Goods and Services Tax (Amendment) Bill 2019, which paves the way for the bill to be introduced in the assembly in the coming session.

The amendment proposes 14 major changes, including the move to allow commercial entities earning revenue of up to Rs 1.5 crore to opt for the composition scheme.

The amendment will also provide for filing of quarterly returns with monthly payment of taxes.

The revised changes have already been implemented through an ordinance on November 20, 2018, which was passed by the state government since the assembly was not in session.

While approving the amendment bill, the council of ministers also agreed to repeal the Goa Goods and Services Tax (Amendment) ordinance.

Once the Bill is passed, it will bring the state GST law on par with the Central GST Act of 2018. The law department has vetted the amendment bill and has approved it.

Source : https://timesofindia.indiatimes.com/city/goa/cabinet-gives-nod-to-gst-amendment/articleshow/67716175.cms

Leave a Reply

Your email address will not be published.

Solve this and then Post Comment *

scroll to top