GST council meet: Relief for SMEs, real estate and lottery referred to GoM

The GST Council during its 32nd meet on Thursday doubled the exemption limit and raised the threshold for availing the composition scheme. The council also increased the GST exemption limit to Rs 20 lakh for northeastern states and Rs 40 lakh for the rest of the country. The move aims to give relief to micro, small and medium enterprises. The council also allowed Kerala to levy 1 per cent calamity cess on intra-state sales for a period of up to two years. It decided to form a seven-member group of ministers on including real estate and lottery under the Goods and Services Tax. Watch five key decisions of the GST council meeting