Join date: Jan 31, 2022

Previously, the GST exemption ceiling for all enterprises and services was Rs 20 lakhs. Businesses with an annual revenue of up to Rs 40 lakh are now free from GST, thanks to a recent revision. Those with a turnover of up to Rs 1.5 crore can also take advantage of the Composition Scheme, which requires them to pay only 1% tax. However, the turnover exemption maximum for services remains at $20 million. In addition, service providers with a turnover of up to 50 lakhs can choose the composition scheme for services and pay only 6% tax.

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