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Monsoon Session: Cabinet clears more than 46 amendments under GST law

The government will now table amendments to the Central GST law, Integrated GST law, Compensation Cess law in the ongoing monsoon session of Parliament.

Published: 01st August 2018 04:31 PM  |   Last Updated: 02nd August 2018 05:24 AM   |  A+A A-

GST Council

Image used for representational purpose only. (Photo | PTI)

By Express News Service

NEW DELHI:  Union Cabinet on Wednesday also took many other key decisions, which include approving 46 amendments under GST law, including hiking the threshold limit for availing composition scheme dealers to Rs 1.5 crore, among other things. 

In all, there are 46 amendments that will allow employers to claim input tax credit on facilities like food, transport and insurance provided to employees under any law. It provides for modification of reverse charge mechanism, separate registration for companies having different business verticals, cancellation of registration, new return filing norms and issuance of consolidated debit/credit notes covering multiple invoices. 

Fresh equity issue of 15 per cent by Hindustan Copper Ltd, which will help the state-run company raise `900.6 crore, was approved. Oil and gas producers got a nod to explore for shale oil and gas and coal bed methane under the existing contracts, and Rs 1,258 crore interest-free loans were approved to revive three fertiliser units.

Extra budgetary resources of Rs 15,000 crore were allotted for Swachch Bharat via NABARD.

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