Government list down Proactive Measures taken by Government for Smooth Implementation of GST for MSME

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Government has taken several proactive measures for smooth implementation of GST for MSMEs including:

  • Exemption to Khadi fabric sold through Khadi and Village Industries Commission (KVIC) and KVIC certified institutions/outlets;
  • Majority of items produced by the MSMEs in the band of 28% tax slab brought to lower slabs;
  • Composition levy extended upto turnover worth Rs. 150 lakh per annum;
  • Quarterly return to be filed by GST registered units having turnover of Rs. 150 lakh per annum or less.
  • Reverse Charge Mechanism kept in abeyance till March 2018.

Read more at: http://pib.gov.in/PressReleseDetail.aspx?PRID=1513272