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GST Council Doubles GST Exemption to ₹40 Lakh, MSMEs Rejoice
January 14, 2019
This Thursday, the Goods and Services Tax (GST) Council hiked the exemption limit from the current 20 lakhs INR to ₹40 lakhs which will benefit the small businesses who now won’t have to bear the compliance burden of the regime.
The council also gave a green signal to Kerala to levy 1% calamity cess on the intra-state sale of goods and services which will be used for rebuilding the state that suffered massive financial loss due to the recent floods.
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