Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
The Goods and Services Tax (GST) Council is actively discussing relief measures for traders, including quarterly return filing and increasing threshold limit for Composition Scheme, sources said on Friday.
“Council members requested quarterly return filings for businesses with turnover less than Rs 1.5 crore,” a Council member said on the sidelines of its ongoing meeting.
A state Finance Minister said that the Council was discussing the issues being faced by small traders.
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Raising the threshold limit for Composition Scheme from the current Rs 75 lakh to Rs 1 crore is also under discussion.
“Rs 1 crore threshold in the Composition Scheme is also supported by the GST Council members,” he said.
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