LATEST GST UPDATE

Haryana Assembly Passes GST Amendment Bill, 2019

The Haryana State Assembly has passed Haryana Goods and Services Tax (Amendment) Bill, 2019 which provides alternative Composition Scheme.

The Amendment enables alternative composition scheme for the supplier of services or mixed suppliers having an annual turnover up to Rs. 50 lakh in the preceding Financial Year.

The Amendment also provides for higher threshold exemption limit from Rs. 20 lakh to such amount not exceeding Rs. 40 lakh in case of the supplier who was engaged exclusively in the supply of goods, to provide for mandatory Aadhaar submission or authentication for persons who intend to take or have taken registration under the Act.

The Bill also provide that, the suppler would mandatorily offer facility for digital payment to recipient and for furnishing of Annual Returns and for quarterly payment of tax by taxpayer who opts for composition levy and to provide for certain other categories of taxpayers, an option for quarterly and monthly payments under the proposed new return filing system.

Source: Taxscan

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