AS-ASSEMBLY-GST

Assam Assembly passes GST (Amendment) Bill Guwahati, Oct 3 (PTI) The state Assembly on Wednesday passed the Assam Goods and Services Tax (Amendment) Bill, 2018, increasing the annual turnover limit for compulsory
registration of small traders. The Bill also raised the cap for those eligible for filing composite tax under the GST regime. The annual turnover limit for compulsory GST registration has been hiked to Rs 20 lakh from the existing Rs
10 lakh. Assam Finance Minister Himanta Biswa Sharma, who introduced the Bill in the House, said the change in the slab would greatly benefit small traders in the state. Another amendment increased the turnover limit from Rs
75 lakh to Rs 1.5 crore for businesses to be eligible for filing one per cent composite tax under GST.  Sarma said the state government had got the necessary clearance from the GST council for implementing the changes.

source:https://www.theweek.in/wire-updates/business/2018/10/03/ces16-as-assembly-gst.html

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