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Jan 11, 2019
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GST relief to MSMEs: Council raises exemption threshold
Bracing itself for the general elections, the Narendra Modi government is showering goodies on the micro, small and medium enterprises (MSMEs) and small traders that have suffered under the note ban and a hastily implemented GST. Over 20 lakh GST-registrant businesses dealing in goods have now got the option to move out of the tax’s ambit as the GST Council on Thursday raised the aggregate turnover threshold for exemption to Rs 40 lakh from the present Rs 20 lakh.
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