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GST exemption limit for MSMEs doubled

Thursday, January 10, 2019, 5:45 PM

In a major relief to micro, small and medium enterprises (MSMEs), the GST Council chaired by finance minister Arun Jaitley on Thursday doubled the GST exemption limit for companies in the sector to those with an annual turnover of Rs.40 lakh from the current Rs.20 lakh. For North East and hilly states, the limit has been increased to Rs.20 lakh from Rs.10 lakh.

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