GST Council proposed various reliefs to MSME sector
(Date: 11/1/2019)
MSMEs engaged in supply of goods (not services) get relaxation from GST Registration. The existing threshold limit of Rs. 20 lakhs for obtaining the GST registration and levy of GST has been increased to Rs. 40 lakhs. The GST Council Meeting has given a choice to the States to choose the applicable threshold limit from Rs. 20 lakhs or Rs. 40 lakhs. The States have to take a decision on this within a week. No such relaxation has been given to supplier of services.