1. GST threshold limit to be kept at 10 lakhs for hill area states and NE as against 20 lakh in other states.
2. All cesses to be subsumed under GST.
3. Separate Law for compensating states on any loss due to GST. Base year for compensation to be FY 2015-16.
4. Cross Empowerment model for assessees having annual turnover exceeding 1.5 crores.
5. Only 5% of the taxpayers to be covered under audit as against 70-80% under various state laws.
6. State to be compensated if its revenue under GST falls short of the average tax earnings in the best three years out of five years.
7. Next meeting of council on September 30.
8. States to monitor the taxpayers with annual turnover of less than 1.5 crores. Although the service tax assessees to remain with center only
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