The Telangana Goods and Services Tax (Amendment) Ordinance, 2019, was issued, adopting all amendments made in the Central Goods and Services Act 2017 This will benefit about 30,000 small and medium traders across the state. A total of eight amendments were incorporated in the ordinance brought to SGST Act 2019. The ordinance will be in effect from Thursday.
The new amendment, in tune with the central amendment, increases the threshold for composition scheme to 1.5 crore from the existing 1 crore. Small taxpayers can opt to get rid of complex GST formalities and pay GST at a fixed rate of turnover and can also file quarterly returns. Tax payers also have the option of obtaining multiple registrations for multiple places of business within the state and separate registration for special economic zones or developers
