GST Council can vet pleas on GST registration threshold: Finance Minister

Finance minister Nirmala Sitharaman on Wednesday said the request from Parliamentarians to raise the sales threshold for Goods and Services Tax (GST) registration can be looked into by the GST Council; however, she added that most small businesses ideally should be part of the GST chain.

Raising GST registration threshold from Rs.40 lakh to Rs.60 lakh may be a good suggestion, the minister said. “I leave it to the Council to decide but it is also equally true that most small firms should also ideally come on board,” the minister said.

While replying to a discussion on the Central Goods and Services Tax (Second Amendment) Bill, 2023 in Rajya Sabha, Sitharaman also took note of the requests from Parliamentarians for setting up a national appellate authority for advance ruling as provided for in GST law.

Read more at: livemint