Succour to MSMEs: Group of Ministers for raising GST threshold to Rs 75 lakh

A group of state finance ministers might recommend raising the turnover threshold for the goods and services tax (GST) from the current Rs 20 lakh to Rs 75 lakh, in a move that would give lakhs of micro and small enterprises the option to be outside the ambit of GST. Sushil Kumar Modi, deputy chief minister of Bihar, who is a member of the group, told FE that a proposal to raise the exemption thre…