GST Registration Threshold Limit – Effective from 1st April, 2019, the threshold limit for GST Registration for suppliers of goods will be increased from Rs 20 lakhs to Rs 40 lakhs. However, this limit remains Rs 20 lakhs for suppliers of services. For the special category States, this limit in case of supply of goods is increased up to Rs 20 lakhs. States have been given the option to either choose Rs 40 lakhs or Rs 20 lakhs threshold limit in a week’s time.
New Composition Scheme for Service Providers – Those suppliers rendering either independent services or providing a mix supply of goods and services with a turnover of Rs 50 lakhs per annum in the preceding FY can opt for this scheme. The tax rate is fixed at 6% (3% CGST + 3% SGST).
Changes to Existing Composition Scheme – The threshold limit to opt for composition scheme will be increased to Rs 1.5 crore from Rs 1 crore earlier, with effect from 1st April, 2019. Taxes will have to be paid quarterly and returns to be filed annually.
Calamity Cess in Kerala – Kerala has been given an approval to charge Disaster/calamity cess of up to 1% on all the intra-state supplies of goods and services within Kerala, for up to two years.