Relief to mese under gst || banking ||

Others 260 views 1 replies

HELLO MEMBERS, 

WHAT ARE THE RELIEF TO MESE UNDER GST ?

Replies (1)

To my knowledger, there are no specific relief to MSME in the GST. However, the relief is given on the basis turnover  of supplies of goods/services. 

1. If the turnover is less than 20 lakhs, no registration is required and such MSME is outside the GST.

2. If the turnover is less than 1.5 cr. then such MSME may apply for composition scheme for paying GST where much lower tax is to be paid and number of Returns is much lower than a regular supplier.

 


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