CRISIL SME Tracker: A GST leg-up for micro enterprises

The interim Budget 2019-20 has proposed several measures aimed at micro enterprises, which account for more than 99 per cent of India’s micro, small and medium enterprise (MSME) universe.

Among other things, it doubled the limit for exemption from Goods and Services Tax (GST) to Rs 40 lakh, from Rs 20 lakh.

It also proposed an attractive composition scheme for small businesses having a turnover of up to Rs 1.5 crore, wherein these can pay only a one per cent flat rate and file only one annual return. Similarly, small service providers with a turnover of up to Rs 50