GST exemption limit doubled to give relief to small businesses

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..... GST exemption limit doubled to give relief to small businesses
GST
Dated:- 10-1-2019

New Delhi, Jan 10 (PTI) In a bid to give relief to small businesses, the GST Council Thursday doubled .....

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..... the exemption limit and raised the threshold for availing the composition scheme. The GST Council doubled the GST exemption limit to ₹ 20 lakh for north eastern states and ₹ 40 lakh for .....

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..... the rest of the country, Finance Minister Arun Jaitley told reporters here. The scope of the GST Composition Scheme, under which small traders and businesses pay a small tax based on turnover rather .....

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..... than value addition, was raised to ₹ 1.5 crore from ₹ 1 crore. The twin move would give relief to micro, small and medium enterprises (MSMEs), he said. The council also allowed Kerala to .....

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..... levy 1 per cent calamity cess on intra-state sales for a period of up to two years. On including real estate and lottery under the Goods and Services Tax, the council decided for form a seven-member .....

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..... group of ministers after differences of opinion emerged at the meeting, he said.
News - Press release - PIB .....

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