GST Amendment Bills get approval from the President [Read the Act]

The four bills amending laws relating to the Goods and Services Tax ( GST ) has got green signal from the President, Ram Nath Kovind.

The Central GST (Amendment) Bill, Integrated GST (Amendment) Bill, Union Territory GST (Amendment) Bill and GST (Compensation to States) Amendment Bill were tabled in the lower House of Parliament a few weeks ago.

Once implemented, the amendment will make return forms simpler and raise the turnover threshold for availing composition scheme to ₹1.5 crore.

Finance Minister Piyush Goyal said the amendment Bills, i.e., the Central GST (Amendment) Bill, the Integrated GST (Amendment) Bill, the GST (Compensation to States) Amendment Bill and the Union Territory GST (Amendment) Bill, were primarily aimed at helping the MSME sector and small traders.

source:http://www.taxscan.in/gst-amendment-bills-president/27754/

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