Experts believe, the council might enable exporters to utilise benefits and incentives derived from foreign trade policy to pay Integrated GST (IGST), push-back of reverse charge mechanism (RCM) among relaxation to ward off growing resentment among indirect taxpayers. Upfront exemption on purchases for exporters may get GST Council nod.
"To streamline the working, March 31, 2018 has been deferred for it".
The steps taken by the Council will provide urgent but temporary relief to SMEs, said V.K. Agarwal, former president of the Federation of Indian Small and Medium Enterprises.
Faster refunds and relief in terms of compliance have been some of the key demands of exporters.
The report further said that the short-term liquidity crisis resulting due to delayed input credit refunds is bound to create complications for the MSMEs in mapping the inventory held on the transition date with respective invoices. The CAIT has also called for smooth functioning of GSTN portal to provide ease of complying GST provisions for the traders.
He said that a majority of them have less than Rs 1 crore of turnover.
"The GST Council has reached a consensus on increasing the composition threshold on companies with turnover of Rs.1 crore", Andhra Pradesh Finance Minister Y. Ramakrishnudu said.
Albeit, this might also come as a disappointment to many, as it was being widely speculated that the limit would be raised to Rs 1.5 crore in today's meeting.
The scheme can not be opted by supplier of services other than restaurant related services; manufacturer of ice cream, pan masala, or tobacco; casual taxable person or a non- resident taxable person; and businesses which supply goods through an e-commerce operator.
'The medium and small companies should remain in the tax net but we will relax their compliance burden, ' he said.
The company will be overseeing pickup of packages from warehouses of third-party businesses who sell on Amazon Seller Central. Over the past two years, Amazon has been testing this service in India while slowly marketing it to US merchants.
A South Korean expert said the quake could have been caused by geological stress created from the recent nuclear explosion. The locations are around 50 kilometers away (more than 30 miles) from the site of previous nuclear tests, the group said.
Simpson is still obligated to pay the judgment, which now amounts to about $65 million, said David Cook, a Goldman family lawyer. He says he only wanted to retrieve personal items, mementoes and family photos from two sports memorabilia dealers.
One of two airports serving the country is out of action; the other is expected to be working in the coming days. Tropical storm watches are in place for portions of the eastern coast of the U.S. stretching between DE and MA .
He told officials that leading a group of men into a 2007 armed confrontation was an error in judgment he would not repeat. Keast said that no media was present at the time of Simpson's release and everything happened the way her team expected.
The England ace is still on a high after netting a flawless hat-trick against APOEL in the Champions League game midweek. This weekend, Kane will fancy his chances at some more goals as Spurs pay a visit to Huddersfield.
A defection by another Republican senator would send the measure to defeat in the Senate, where the GOP has 52-48 majority margin. He said the GOP can pass bills under special budget reconciliation rules that require just 51 votes, "but that's a trick".
The girlfriend of the Las Vegas shooter met with Federal Bureau of Investigation agents in Los Angeles Wednesday afternoon. The FBI are continuing to question Paddock's girlfriend Marilou Danley , who became a "person of interest" in the case.
Since Friday, the volcano has been at its highest alert level - prompting authorities to establish a 7.5 mile exclusion zone. The towering volcano's peak is the single highest point on the Pacific island of Bali , standing at 3,031 m (9,944 ft) tall.
Oh, right: Discovery takes place in the franchise's original timeline, roughly a decade before William Shatner's James T. We can only hope that somehow, with a title like Star Trek: Discovery , somebody gets to discover something eventually.
Dont'a Hightower, Marcus Cannon both active vs. Panthers
Cam Newton has been nothing short of a disappointment so far this season, and the only upside has been Christian McCaffrey . So, it's not just one thing. "Being able to show up week in and week out and put out some playoff-caliber football".
Cowboys LB Sean Lee out vs. Rams with hamstring strain
He has five tackles and one sack in two games and the two-time Pro Bowler will certainly have the attention of the Cowboys . If the Cowboys defense isn't at full strength on Sunday, the Rams could be in the ideal position to pull off a huge upset.
Pets Rescued From Virgin Islands
On Tuesday, the 300 animals safely arrived in Norfolk, Virginia - some in cages marked with the note "I survived Hurricane Irma ". President Donald Trump on Thursday declared that a major disaster exists in the territory of the U.S.
Most states see gas prices fall
Drivers in SC (39 cents), Alabama (37 cents), Florida (36 cents), MS (32 cents) and Texas (31 cents) are also paying more. According to GasBuddy , people were filling up for just $2.10 per gallon on average last September 24.
Merkel Victorious In Germany's National Election
Merkel's main centre-left rivals, the Social Democrats, slid to their worst result since the Second World War, projections showed. Calling the AfD a "party of agitators" and "the enemies", Schulz said his Social Democrats were the best option to fight them.
Fed Makes No Changes To Dot Plot, Hinting At December Hike
The biggest percentage gain was the telecom services sector's.SPLRCL 2.3 percent jump on merger and acquisition speculation. Tesla was down 1.86 percent after Jefferies started coverage of the electric vehicle maker's stock with "underperform".
What people are saying about the next-gen Apple TV
Still, this is a far more flexible approach, and one which is likely to go down particularly well with Apple TV fans. However, those who purchase the new set-top box will be limited in how they can enjoy 4K titles.