GST Council To Keep Companies With An Annual Turnover Of Rs. 40 Lakh, Out Of The Ambit Of The GST
Uttar Pradesh Chief Minister Yogi Adityanath Ji has greeted Prime Minister Mr Narendra Modi on GST Council's decision at its 32nd meeting to keep companies with an annual turnover of Rs 40 lakh, out of the ambit of the GST.
He added that this would increase the ease of doing business for small-time businessmen and traders on one hand and on the other will create new job opportunities. The Chief Minister has also welcomed the decision of the GST Council to increase the limit of the Composition Scheme from Rs. One crore to Rs 1.5 crore.
Yogi Ji pointed out that these decisions will provide immense relief to the MSME sector. The Chief Minister further stated that the union government lead by Prime Minister Mr Narendra Modi should be complimented for implementing various public welfare decisions with promptness.