New Delhi, Jan. 10 -- In todays 32nd Goods and Service Tax (GST) council meeting, the group of state finance ministers might reportedly recommend raising the exemption threshold for GST from the current Rs 20 lakh to Rs 75 lakh. The move is likely to give lakhs of micro and small enterprises an option to remain outside the ambit of GST.
The 32nd GST Council Meeting under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Arun Jaitley began this morning in Vigyan Bhawan in the national capital.
Major issues that will be discussed during the meeting include lowering of GST rates on under-construction flats and houses to 5 per cent and raising the exemption threshold from Rs 20 lakh to Rs 75 lakh for small and mediu...