GST Council raises threshold for Composition Scheme to â¹1 cr
The GST Council on Friday raised the threshold limit for Composition Scheme to â¹1 crore from the current â¹75 lakh to ease tax filing for small traders. The scheme allows small businesses, including eateries, to pay 1-5% tax without going through tedious formalities. Finance Minister Arun Jaitley stated that e-wallet for exporters will also start from April 1, 2018.