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What is the new GST exemption limit for MSMEs after 32nd GST Council Meeting?

Home Forums GST Questions What is the new GST exemption limit for MSMEs after 32nd GST Council Meeting?

This topic contains 2 replies, has 2 voices, and was last updated by  Manohar 8 months, 1 week ago.

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  • #11649 Reply

    Varun Nayar

    What is the new GST exemption limit for MSMEs after 32nd GST Council Meeting on 10th January 2019?

    #11653 Reply

    gstlatest
    Keymaster

    During its 32nd meeting the GST Council today relaxed the tax exemption limit to Rs 40 lakh from the earlier limit of Rs 20 lakh. The panel also decided to extend the composition scheme to traders from the informal sector offering services or mixed supplies with a turnover of up to Rs 50 lakh. Apart from that for hilly and small states the exemption limit has also been increased to Rs 20 lakh from Rs 10 lakh.

    #11655 Reply

    Manohar

    New GST Limit Exemption

    The new GST limit has been doubled from earlier 20 lacs to 40 lacs and for small states its 10 lacs to 20 lacs

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