Ministry of Micro,Small & Medium Enterprises
Posted On: 20 DEC 2017 12:03PM by PIB Delhi
Proactive Measures taken by Government for Smooth Implementation of GST for MSME
Government has taken several proactive measures for smooth implementation of GST for MSMEs including:
i. Exemption to Khadi fabric sold through Khadi and Village Industries Commission (KVIC) and KVIC certified institutions/outlets;
ii. Majority of items produced by the MSMEs in the band of 28% tax slab brought to lower slabs;
iii. Composition levy extended upto turnover worth Rs. 150 lakh per annum;
iv. Quarterly return to be filed by GST registered units having turnover of Rs. 150 lakh per annum or less.
v. Reverse Charge Mechanism kept in abeyance till March 2018.
This Press Release is based on information given by the Minister of State for MSME Shri Giriraj Singh in a written reply to a question in Rajya Sabha on 20.12.2017(Wednesday)