Boost for SMEs: Exemption limit for GST hiked to Rs 40 lakh from Rs 20 lakh

In a major relief to the small businesses, Jaitley said that the exemption limit under GST (Goods and Services Tax) for those with a turnover up to Rs 20 lakh has been increased to Rs 40 lakh. For other states with up to Rs 10 lakh turnover, the limit is now increased to Rs 20 lakh, he added.

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