Small businesses likely to be off GST radar; council to decide on Thursday

The Goods and Services Tax (GST) Council will take a decision on increasing the turnover threshold for mandatory registration under the ambit of GST on Thursday, the group of ministers (GoM) said on Sunday. 

The threshold, currently at Rs 20 lakh, is likely to be increased to about Rs 50 lakh, which will benefit small businesses and micro-small and medium enterprises (MSMEs) with turnover Rs 20-50 lakh. 

The GoM also recommended a composition scheme for service providers with an annual turnover up to Rs  50 lakhs. For dealers and suppliers, the GoM has decided the turnover limit for registration under