MUMBAI: The State government on Thursday introduced a Bill to bring amendments to the Maharashtra Goods and Services Tax (GST) Act, 2017, to ease out inconveniences caused to medium and small enterprises.
The government has proposed the amendments as per which a taxpayer can now have the option to obtain multiple registrations for multiple places of business located within the same State. It also offers separate registration for the special economic zone unit or the developer.
The amendment Bill offers enhancement in the exemption limit for registration in the special category States from Rs 10 lakh to Rs 20 lakh, empower the State to notify the classes of registered persons for paying the tax on reverse charge basis, in respect of receipt of supplies of certain specified categories of goods or service or both, from unregistered suppliers, enhancement in the limit of composition levy from Rs 1 crore to Rs 1.5 crore, a provision for temporary suspension of registration while cancellation of registration is under process, and an increase in the period relating to detention or seizure of goods and conveyance in transit from seven days to 14 days.
Deepak Kesarkar, Minister of State for Finance, introduced the Bill in the Assembly, which will be discussed next week. The State cabinet had already announced these decisions last month. However, those will now be the part of the State GST Act after the Assembly passes the amendments.
Source- The Hindu.