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