Proactive Measures taken by Government for Smooth Implementation of GST for MSME

Government has taken several proactive measures for smooth implementation of GST for MSMEs including:

• Exemption to Khadi fabric sold through Khadi and Village Industries Commission (KVIC) and KVIC certified institutions/outlets;
• Majority of items produced by the MSMEs in the band of 28% tax slab brought to lower slabs;
• Composition levy extended upto turnover worth ₹ 150 lakh per annum;
• Quarterly return to be filed by GST registered units having turnover of ₹ 150 lakh per annum or less.
• Reverse Charge Mechanism kept in abeyance till March 2018.

This Press Release is based on information given by the Minister of State for MSME Shri Giriraj Singh in a written reply to a question in Rajya Sabha  on 20.12.2017(Wednesday)