Can I read GST Exemption Limits for MSMEs on EtoBox?
GST Exemption Limits for MSMEs by Chirag Raut is a document available to read on EtoBox.
What is GST Exemption Limits for MSMEs about?
The GST Council made decisions in January 2019 to benefit MSMEs that will take effect on April 1st. This includes raising the exemption threshold for goods suppliers to Rs. 40-20 lakhs, allowing a composition scheme for services/mixed suppliers up to Rs. 50 lakhs turnover at 6% tax, and increasing the existing composition scheme limit to Rs. 1.5 crore turnover. Notifications were issued on March 7th to implement these decisions effective April 1st.
- Author
- Chirag Raut
- Language
- EN