Few takeaways from the GST Council meet:-
- Business with annual turnover upto Rs. 20 lakh would be out of GST net. For the north eastern and hill states this limit would be Rs.10 lakh.
- States to have sole jurisdiction over current VAT assessees having a turnover of 1.5 crore or less.
The administrative control of businesses with turnover above this limit would be jointly with the central and state governements.
- Current service tax assesses will continue to be under the jurisdiction of the Centre.
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