GST Council consensus emerging on April 1, 2017 rollout, Rs 25 lakh threshold
As the Goods and Services Tax (GST) Council comprising the Centre and states met here on Thursday — its first session after it was formed last week — a consensus seemed to emerge among the members to usher in the new tax from April 1, 2017. They have also resolved to fix the upper limit of aggregate turnover for taxpayers to opt for the hassle-free composition scheme at Rs 50 lakh, but restricted the facility to traders.
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